Forex Trading - How to Open a Live Forex Account

Opening a live account in Forex could be a tedious job for beginners especially without having a guide the very first time. The steps needed to open a demo account is very easier because of the virtual nature from the account.

Most brokers adopt exactly the same principle, and requirements for opening live accounts, aside from some who request extra documents because of their country's financial regulations, which demands more verification from the applicant's identity for security purpose.

Before we go further lets consider an essential checklist below.

CHECKLIST - What you should verify before considering opening a free account having a broker.

    Is my country among the eligible countries permitted to open a Forex account using the broker?

    Does the broker allow payment available options within my country's lender? Can One make withdrawals using the withdrawal options being adopted from the broker?

    Do you know the fees needed to deposit and withdraw from your broker along with its custodian bank?

The checklist above is one thing to consider before choosing to open a live account having a broker.

For the time being we'll assume you have to have selected the broker you want to open a live account with.

The steps below does apply with other Fx brokers.

Step One. What type of account do i need to open?

It is really an important factor you should know before opening a live account. You will find three major types of Forex accounts available by all brokers.

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