How To Open A Trading Account

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Contents

Opening a Trading Account

How do I open an account with FOREX.com?

You can apply for an account with FOREX.com online. Start your application now.

What information do I need when opening an account?

We will need you to provide us with your name, address and tax ID number to establish your identity. Typically, we can verify your identity instantly. For more information, see our Account Documents FAQs.

Why do I need to provide my financial information?

FOREX.com requests personal information, including financial and tax identification information, in order to comply with U.S. government laws and CFTC rules. We’ll request personal information from both new customers and existing customers. FOREX.com complies with a CFTC customer identification rule of the USA Patriot Act of 2001. This rule requires FOREX.com to put procedures in place to verify the identity of any person seeking to open an account and to maintain records of their information. Therefore, we may request you to provide a bank statement or card account statement.

How much money do I need to open an account?

The minimum initial deposit required is at least 100 of your selected base currency. However, we recommend you deposit at least 2,500 to allow you more flexibility and better risk management when trading your account.

How do I know if my account has been opened?

We will email you as soon as your application has been approved. Alternatively, you can always log in to MyAccount to check on the status of your account application.

How do I open an additional account?

You may request an additional account by logging in to MyAccount, going to your Account Settings and selecting Add New Account.

Does FOREX.com offer IRAs?

FOREX.com offers US individual customers the ability to trade forex by setting up an Individual Account with us and an IRA through one of our three partner custodians with whom we have established relationships. Visit our IRA page to learn more about the process.

Does FOREX.com offer swap-free accounts?

Yes, FOREX.com offers swap-free accounts in certain circumstances. For more information, please contact us.

What types of documents do you accept for identity verification?

Acceptable documents for identity verification include but are not limited to:

  • Valid, current passports
  • Valid, current driver licenses
  • Valid national IDs

Other types of ID may be acceptable on a case-by-case basis after review.

What types of documents do you accept as address verification?

To be accepted as a verification of address, a document must show both your name and address as indicated on your application.

Acceptable forms of proof of residence include but are not limited to:

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  • Government-issued photo identification
  • Utility bills
  • Bank or credit card statements

Utility bills and statements must be dated within the last six months. Confidential information such as account numbers may be removed at your discretion.

My proof of identification also has my address on it. Can I use it for both ID and proof of residence?

Yes, if your proof of identification document has your address on it, it can usually be used for both address and identity verification. However, please be aware that there are exceptions when we do need to request two separate forms of identity.

How can I send my documentation to FOREX.com?

The fastest way to provide us with supporting documentation is via MyAccount. Simply log in and follow the instructions to upload your documents.

You can also email or mail us your documentation:

Mail:

FOREX.com
Attn: New Accounts
Bedminster One 135 US Highway 202/206, Suite 11
Bedminster, NJ 07921 USA

Fax: +1.908.731.0777

My documents are not in English. Will this be a problem?

FOREX.com has staff available to translate documents from many languages.

Whose name and address should be on the confirmation documents for a corporate account application?

The address verification document for a corporate account application should display the entity’s name and primary business address.

What are Articles of Incorporation in regards to a corporate account?

Articles of Incorporation state the purpose for which the company was formed, indicate the members of the company, and sets forth its purpose according to the laws of the state in which it is established. These documents are sometimes referred to as Articles of Association and Memorandum of Association and should also include a breakdown of the shares of the company. If any shareholder owns more than 10% of the company, we will require ID verification for that shareholder.

How can I provide the breakdown of shares/Share Registry for my corporate account?

The corporate breakdown of shares or Share Registry should be within the official Articles of Incorporation. If the details are not within the corporate documentation, please contact FOREX.com at your earliest convenience.

What is a Certification of Incorporation in regards to a corporate account?

A Certificate of Incorporation is a statement which confirms that a new company has fulfilled the necessary legal requirements for incorporation and is duly incorporated according to the local government or other regulatory agency.

For a joint account, do I need documentation for both account holders?

Yes, both account holders must provide a government-issued photo ID when we aren’t able to electronically verify their ID. Documentation for proof of address also must be verified for both applicants.

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How to Open Trading Account Online with Angel Broking

STEP 1

Submit the Account Opening Form and mandated identity and address proofs. These are, (PAN card, Aadhaar Card, passport etc.

STEP 2

Complete the verification process, carried out either over the phone or through a visit from Angel Broking’s representative.

STEP 3

Your share trading account is ready after successful verification. You will get a unique ID and a password. Use these to access your account.

STEP 4

Link your demat account with your online account. This ensures a seamless process.

Benefits of Angel Broking Trading Account

Once you know how to open trading account, you have access to several advantages. Here are some of them:

  • Secure trades: Carry out safe and convenient transactions through Angel Broking. Whether you’re on your laptop or mobile phone, intraday buying and selling is quick and seamless.
  • Lower costs: Low brokerage fees ensure that costs don’t affect returns. Also, you can benefit from no charges for the first year.
  • Real-time monitoring: Monitor stock price movements as they happen.

Why Open Trading Account?

Equity has outperformed most other asset classes in the past few years. In a growing economy like India, the equity market will continue to grow, and enable traders and investors to earn high returns*.

Having an online trading account is invaluable if you want to trade in shares. You will be able to carry out trades quickly and efficiently and make the most of developing situations.

Opening this type of account with Angel Broking is a straightforward and seamless process. Whatever be your appetite buying and selling equities, Angel Broking an account to meet your requirements.

Open Trading Account For Free With Angel Broking

Difference Between Trading and Demat Accounts

People are sometimes confused between these two types of accounts. The former enables you to buy and sell shares on the stock market. A demat account, on the other hand, is like a bank account not only for shares but also for other investment products.

Frequently Asked Questions on Trading Account Opening

Why should I open a trading account online with Angel Broking?

With Angel Broking you can get benefits like lower brokerage costs, secure transactions, updates on price fluctuations and multiple products like equities, IPOs, mutual funds etc. on a single platform.

How can I open a trading account with Angel Broking?

The process is seamless and straightforward. All you have to do is fill an Account Opening form and submit proof of identity and address and KYC (Know Your Customer) documents.

Am I eligible to open an account to trade?

If you’re a resident of India and over 18 years of age, you ‘re eligible to open this type of account. You will need to submit valid address and identity proofs along with the account opening form.

How long does it take to open this type of account?

Document processing and verification take about a week. There may be challenges in terms of accuracy. E.g. address discrepancies. You need to ensure your information is up to date and correct. After a
successful verification, you’ll receive a welcome kit containing your account details.

How many bank and depository accounts can I link to the Angel Broking trading account?

You can link as many depository accounts as possible. What you need to note is your stockbroker should have a Power of Attorney (PoA) for these accounts. A PoA ensures a smooth transfer of shares and also better future transactions. When you have multiple accounts to trade, you get the advantage of better brokerage rates. However, you will need to track all your accounts’ activities.

Can I trade in derivatives?

You can open online derivatives account to trade in futures and options. You have to submit financial proof like bank statements, net worth certificate, copy of Form 16 in case of salary income, copy of annual Accounts or copy of ITR acknowledgement.

Can I trade online in commodities?

Yes, you can, and the interface is user-friendly & secure. Angel Broking also provides intensive research and knowledge, thus enabling you to harness the potential of the commodity market. You can also take delivery of some commodities like agriculture, gold and silver. To trade in commodities, you will have to open a demat account, in case you don’t already have one.

Can I trade in currency?

Yes, Angel Broking has an online account to trade in currencies. You can buy and sell world currencies and benefit from the variations in the exchange rates. Execution and settlement are instant, and you have access to multiple currencies. Trades are usually executed in pairs, e.g. EUR/USD, AUD/USD, USD/CHF, USD/CAD, NZD/USD, etc.

Does Angel Broking offer a trial account?

Angel Broking provides the facility of a trial account to enable new investors to learn and trade without incurring actual losses. To begin, sign up and register. Once your registration is successful, log in to your
account, and identify ticker symbols for stocks by reviewing securities. Your account will reflect virtual money, and you can then trade in a virtual stock market. Trades occur in real-time. You can also get the latest stock market research reports, which help you make better decisions.

How cost effective is it to open an account to trade?

Angel Broking charges 0 account-opening fess. You can visit the site www.angelbroking.com and fill up the Account Opening form. With this account, you have access to trade in securities, stock, gold, ETF’s, currencies, etc. Angel Broking offers multiple products for trade, and the transactions are secure and seamless.

How do I know if Angel Broking trading account is right for me?

Angel Broking offers a trial account where you can learn to trade without actually risking your money. You can transact using virtual money. If you are satisfied with it, you can go ahead and open a real account.

*Equity trading and investments are subject to market risk.

Please note that by submitting the above mentioned details, you are authorizing us to Call/SMS you even though you may be registered under DND. We shall Call/SMS you for a period of 12 months.

‘Investments in securities market are subject to market risk, read all the related documents carefully before investing.’ Angel Broking Limited (formerly known as Angel Broking Private Limited), Registered Office: G-1, Ackruti Trade Centre, Road No. 7, MIDC, Andheri (E), Mumbai – 400 093. Tel: (022) 42319600 . Fax: (022) 42319607, website: www.angelbroking.com, CIN: U67120MH1996PLC101709, BSE Cash/F&O: INB010996539 /INF010996539, NSE Cash/F&O/CD: INB231279838/INF231279838/ INE231279838, MSEI: INE261279838, CDSL Regn. No.: IN – DP – CDSL – 234 – 2004, PMS Regn. No.: PM/INP000001546, Research Analyst SEBI Regn. No.: INH000000164, AMFI Registration No. ARN – 77404 Compliance officer: Mr. Rajiv Kejriwal, Tel: (022) 39413940 Email: [email protected]

We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services. We do not sell or rent your contact information to third parties.
Please note that by submitting the above mentioned details, you are authorizing us to Call/SMS you even though you may be registered under DND. We shall Call/SMS you for a period of 12 months

How to Open a Forex Trading Account

So after demo trading on at least three broker platforms, you’ve narrowed down your choice to a single forex broker?

After finding the right broker for you, you can open a forex trading account in three simple steps:

  • Selecting an account type
  • Registration
  • Activating your account

Why not? It’s all FREE! Make sure to try out and “kick the tires” of several different brokers to get a feel for the right one for you.

Choosing an Account Type

When you’re ready to open a live account, you have to choose which type of forex trading account you want: a personal account or a business (aka corporate) account.

In the past, when opening a forex trading account, you’d also have to choose whether you wanted to open a “standard” account, a “mini” account, or a “micro” account.

This is great for newbie and inexperienced traders who only have a small account of capital.

This provides you great flexibility, as you won’t have to trade bigger than you’re comfortable with.

Also, always, always, always remember: Always read the fine print.

Some brokers have a “managed account” option in their application forms. If you want the broker to trade your account for you, you can pick this.

But is this what you really want? After all, you didn’t read through the whole School of Pipsology just to have someone else trade for you!

Besides, opening a managed account requires a pretty big minimum deposit, normally $25,000 or higher. Also, the manager will also take a cut out of any profits.

Lastly, make sure you open a forex spot account and not a forwards or futures account.

Registration

You will have to submit paperwork in order to open an account and the forms will vary from broker to broker.

They are usually provided in PDF format and can be viewed and printed using Adobe Acrobat Reader program.

Also, make sure you know all the associated costs, like how much your banks charges for a bank wire transfer. You’d be surprised how much these actually costs, and they may actually take up a significant portion of your trading capital.

Account Activation

Once the broker has received all the necessary paperwork, you should receive an email with instructions on completing your account activation.

So all that’s left is for you to login and start trading. Pretty easy huh?

Time to log in, pop open those charts, and start trading!

But wait just one minute!

We strongly advise you DEMO trade first. There’s no shame in demo trading – everyone has to start somewhere.

If you have been demo trading for at LEAST six months, then maybe you can dip your feet into live trading. Even then, we suggest you go in the shallow end and consider how much you want to risk.

Trading live is a different beast altogether. It’s like the difference between sparring against your kid brother (or sister) and fighting Manny Pacquiao.

If you start trading live without any demo trading experience, this is what usually happens:

But no matter how successful you were in demo trading, nothing can replace the feeling of having real money on the line.

And once you’ve started trading on a live account, never get too comfortable. Always remain vigilant and use proper risk management.

How to open a real Forex account

The real trading account represents the personal trading account in broker company opened by the client, which provides him access to the financial markets trading. The funds deposited by the client are accumulated in his trading account, respectively, all profit from trading activities will be charged using real money on the same account. Considering that Forex trading implies risks of financial losses, possible losses on the real account will be quite real too. Therefore, before starting serious trading, check your forces and try to develop the trading strategy on virtual means of a demo account. Owing even simple trading system in combination with the practical skills of money management received on the demonstration account will help you to reduce expenses and to increase the profit from trading.

So, if you are self-confident and consider that you are ready to open the real account for Forex trading, you need to follow these steps:

Step 1. Choose the broker

Many brokers offer their services to the traders. In order to make a right decision and to choose the most reliable of them, address to the article “How to choose a broker?”.

Step 2. Choose the trading account with optimum conditions

Usually brokers provide to the clients several types of real accounts with various trading conditions, beginning from major currency of the account and finishing with the leverage level. More detailed information about trading account selection criteria, you will find in the article “How to choose a trading account?”.

Step 3. Open the trading account

You can open a real account directly on the official site of the chosen broker company which you can select from the Forex Brokers catalog on GuruTrade. To simplify and secure the procedure of account creation, GuruTrade offers you a possibility to go to the official sites of broker companies directly from their profiles on GuruTrade. Thus, the probability to create an account on the defrauders site is reduced to zero. The existing informational base of the companies is updated regularly, supporting links to the pages of accounts creation in actual and ready to use format.

Procedure of trading account creation and verification at diverse brokers can differ, however, exist basic main stages:

Registration form completion on the broker’s site for account creation.

Receipt the confirmation about account opening on clients email or mobile phone.

Verification of the client’s identity, according to safety requirements.

Trading account creation through the Private office of the user.

You can learn how to create real accounts using procedures from these examples

To open a real account at the broker RoboForex, use the following instruction.

Step 1. Go to the RoboForex brokers card, then to the page of the Live account registration

On the GuruTrade homepage, choose the tab “Brokers” which is in the upper menu of the page. Then go to the “Forex brokers rating” in which find RoboForex and click on its name.

Once you are on the RoboForex brokers card, you will be able to study all information about the company in details. On the side left menu you will find survey categories of the broker, including “Account types”, “Reviews”, “News”, “Analytics”. Here you will find information on broker regulation, foundation date of the company and on all its benefits. If after detailed studying of brokers data you’ve decided to open the account, use the “Open Account” button in the right part of the page of brokers card.

Step 2. Fill in the obligatory fields of the Live account registration form and confirm registration

By pressing the “Open the Account” button, you will be automatically redirected on the page of “Live account” creation. At the first stage of registration, you will need to fill in all necessary data, including your full name, E-mail and number of the mobile phone (considering that your E-mail will be used further for logging into your Live account, carefully check its spelling). Having filled all fields of a form, press the “Receive the confirmation code via SMS or E-mail” button. After that on your E-mail address, and via the SMS you will receive the confirmation code which you will have to enter in the field “Enter the code” (you can enter a code manually or follow the link specified in the email). After entering the code, you will need to press the button “Register”.

Step 3. Open a new trading account of the selected type

Finishing the registration you automatically will be redirected on the “Open account” page. Here you will find all information about your Live account: E-mail, mobile phone number, the password for the Live account and the phone password. This information is recommended to be copied on the separate document and to be stored in a reliable place. In this section you will be given opportunity to open the trading account of available types: Pro-Cent, Pro-Standard, ECN-Pro NDD, Pro-Affiliate or ECN-Pro Affiliate. Then you should choose a type of the trading terminal, basic currency of the account and the leverage size. Further, enter the date of birth, resident country, the name of the city and your exact address with the postal index. After completing the data press the button “Confirm”, agreeing to the conditions stated in the Client agreement and Consent to the processing of personal data.

Upon completion of account opening procedure, you will receive the information on it: account number, main password, the password of the investor and parameters of the account. These confidential data need to be preserved against foreign eyes and to be stored in the safe place. The final step of registration, you will have to pass the verification process, after that you will be able to deposit the account and to start trading.

Step 4. Deposit the opened RoboForex account

To “Deposit funds”, you need to pass into the appropriate section of the Live account. On the page of deposit, you will see all available methods of funds depositing and choose the most convenient payment method. You deposit your account using or not the bonus offer. After choosing the payment method, press the button “Deposit funds” and you will receive funds to your trading account by specified deposit method.

To open a real account at the broker Alpari, use the following instruction.

Step 1. Go to the Alpari brokers card, then to the page of the Live account registration

On the GuruTrade homepage, choose the tab “Brokers” which is in the upper menu of the page. Then go to the “Forex brokers rating” in which find Alpari and click on its name.

Once you are on the Alpari brokers card, you will be able to study all information about the company very thoroughly. On the side left menu you will find survey categories of the broker, including “Account types”, “Reviews”, “News”, “Analytics”. Here you will find information on broker regulation, foundation date of the company and on all its benefits. If after detailed studying of brokers data you’ve decided to open the account, use the “Open Account” button in the right part of the page of brokers card.

Step 2. Complete obligatory fields of the registration form of the Private account and confirm registration

By pressing the button “Open account” you will get on “myAlpari” registration page. The registration is held in 2 stages: at first you choose the base currency of your future account and enter personal data: first name, last name, date of birth, citizenship, city, mobile phone number (which will be used for confirmation of your personal data) and E-mail. Verify the accuracy of the entered data, press the button “Continue registration”.

Afterwards, you will pass to the second stage at which you will need to confirm registration. You will be able to choose the most suitable method to receive a confirmation code: SMS, interactive voice response by call or E-mail. Having chosen the necessary option, press the button “Receive a code” and enter it in the field “Confirmation code”. Having read the Client agreement and the Regulatory documents, you should confirm the consent to the conditions established in them, pressing the button “Complete registration”.

Step 3. Open the new trading account of the chosen type

After finishing the registration process, you will get to the personal profile. Now you can choose an account type corresponding to your requirements. In the menu at the left, select the item “Open account” or click on the button with the same name. For Forex trading are offering several types of accounts: nano.mt4, standard.mt4, ecn.mt4, pro.ecn.mt4. After choosing the necessary option, specify the base currency and click on the “Open account” button. On the screen will appear your account data which are recommended to be stored in the separate file in the safe place: the login, the password, the phone password and parameters of the server.

Step 4. Deposit the opened Alpari account

After you opened the trading account you should deposit funds on it. In order to do this, you should go to the section “Deposit/Withdrawal of funds”. Here you will be able to choose the most convenient money transfer method, a transaction currency, and also a required account. Pressing the button “Continue” you will get on the second tab – “Transfer details”. Here you specify the transfer amount and passport number or an ID code you mentioned. After entering all data, press “Continue” (if you want to correct something, use the button “Back”). At the end of the procedure, you will get to the tab “Confirm the data” where you will have an opportunity to double-check the correctness of entering information. Pressing the button “Transfer funds” you finish the process of account depositing.

To open a real account at the broker InstaForex, use the following instruction.

Step 1. Go to the InstaForex brokers card, then to the page of the Live account registration

On the GuruTrade homepage, choose the tab “Brokers” which is in the upper menu of the page. Then go to the “Forex brokers rating” in which find InstaForex and click on its name.

Once you are on the InstaForex brokers card, you will be able to study all information about the company in details. On the side left menu you will find survey categories of the broker, including “Account types”, “Reviews”, “News”, “Analytics”. Here you will find information on broker regulation, foundation date of the company and on all its benefits. If after detailed studying of brokers data you’ve decided to open the account, use the “Open Account” button in the right part of the page of brokers card.

Step 2. Accept terms of the Agreement

By pressing the “Open Account” button, you will be redirected on a registration Homepage where you should consent to the terms of the Public Offer Agreement. If conditions are accepted by you, press the “I Agree with Terms of the Contract” button and you will be directed to the registration procedure.

Step 3. Register the trading account

The account opening process consists of three stages: Initialization, Personal data and Account type. At the first stage, you should specify the status (Individual/Company), enter E-mail and press “Proceed”.

At the second stage, you specify personal data: full name, date of birth, residential address, city, province, postal code, country and phone number.

At the third stage, you will be given the opportunity to choose an account type: Cent.Standard, Insta.Standard, Cent.Eurica or Insta.Eurica. Here you set the password, choose the trading server with the most suitable location (Asia, Europe, UK, USA), leverage size and basic account currency. Then, after spell checking, tick a box, confirming the consent to the Public Offer Agreement, to finish the procedure you should press “Open account” button.

After that, you will be redirected to the page containing information on your trading account. The same data will be sent to your E-mail.

Step 4. Deposit the opened InstaForex account

To start trading, you need to enter to the Client cabinet. Use the login sent on e-mail and enter the password.

In the Client cabinet find at the left in the menu the section “Financial Transactions” and select in it the item “Account deposit”. On this page will be listed all available methods of account depositing. Choose the most convenient for you, enter the necessary amount and the currency in which payment will be made.

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