Your question answered!
You want to start investing online, but don’t know where to start? Or you might have so many unanswered questions that is holding you back.
For people like this, we will answer all basic questions!
1. How can I open a real (live) account?
In most cases, you just need to complete their simple registration process, submit a proof of identification and proof of address and your trading account will be opened immediately.
2. What are the requirements of opening a live account?
To open a Live Account, normally brokers require a copy of your Passport/ID and a utility bill no older than 3 months.
3. What is the minimum amount to open an live account?
The minimum amount to open an account can be from $1 to $5,000 or more. (it also depends on account types)
4. What proof of address document is required?
You need to submit a recent utility bill dated within the last 3 months, or a recent local authority tax bill, or a recent bank or credit card statement.
5. What proof of identity documents are required?
You can submit a passport, national identity card or other document issued by an independent and reliable source that carries your photo. Your photograph, signature, issue & expiry dates, personal details including serial number must be clearly visible.
6. How soon can I start trading?
Providing that you have completed the required registration process, uploaded your documents and deposited funds into your account, you should be ready for trading immediately.
7. Why brokers request information about my investment knowledge and trading experience during the 3 step registration process?
All regulated(licensed) brokers run an appropriateness test in order to evaluate whether Forex, CFDs and Binary Option trading are appropriate products for your profile. They are required to run this test for all clients since it is required by the regulatory bodies.