Opening a Forex Trading Account

Opening a forex trading account can be made in 3 easy steps:

1. Selecting an account type.


2. Registration.


3. Activating your account.

Before you open a real account you may start using a demo account. This will give you the feel of it, before you invest any money. Open 2 or 3 demo accounts so yo may try different brokers, and see for yourself which one is good for you.

Account Types

You have the option to open an account for yourself or for a company. Also, yo have the choice to open an standard account or a mini or micro account. If you have no experience you should open a mini account. Only people with lots of experience should open an standard account.

Always read the fine print

Some brokers have a “managed account” option in their applications. If you want the broker to trade your account for you, pick this, but obviously you’re here to learn how to trade the Forex for yourself. Besides, opening a managed account typically requires a pretty big minimum deposit - $25,000 or higher - and the broker also takes a portion of the profits.
Also, make sure you open a Forex spot account and not a “forwards” or “futures” account.

Registration

You will have to submit paper work to registrate an account, this vary from broker to broker. They are usually in PDF formats and you can print, sign and return.

Account Activation

Once you had send all the paperwork the broker will send you an email with the instructions on how to start operating your account. But stop before you start risking real money, I reccomend you to do your work and know what you are doing, so you will not freak out if you loose any money. Remember that you need always a helping hand when operating a Forex account, you may use Forex signals or a Robot trading system.

Take your time, study and start making money online.