Opening a forex account is the first step that traders should take when deciding to participate in the forex market. In the following article, we will share how to register Forex for beginners at a world-famous broker.
1. What is a Reputable Forex Account?
Before going into the discussion on how to register forex, you need to understand what a reputable Forex account is. You can base your assessment on the following criteria:
• A reputable Forex account is a forex account that offers low spreads.
• Fast Deposit/Withdrawal time and procedures are also criteria that indicate the credibility of the best Forex account to use.
• Forex accounts are recognized and supervised by the world's leading financial institutions.
• Fast customer service support.
• The fast execution speed also indicates that this is a reputable Forex account.
2. How to Register Forex
After you know the criteria for the best forex account, you must consider using it. Then you have to proceed to how to register forex with the following steps:
Step 1: Open an account with a broker
Accounts with brokers are opened for the purpose of managing deposits and withdrawals, changing personal information, changing account settings and more. Apart from that, brokerage accounts are also used to open many other trading accounts such as MT4 accounts and MT5 accounts.
First, you access the website of the forex broker you want to open an account for, click the open account button.
Fill in your basic personal information as requested by the system. Consist of:
• First name and last name
• Phone number
• Alamat email
• Identity Number
• The currency you want to trade
After that, you will receive a confirmation email sent to the email you registered earlier. When you click the verification link in the email, the account opening process at the forex broker has been successful.
Step 2: Verify your identity when opening a Forex trading account
In this step, you need to prepare 2 main documents:
• Documents to verify identity: ID card or passport.
• Documents to verify address, can be one of the following: Driver's License (SIM), Current Account, or Electricity Bill.
Step 3: Open an MT4 Trading Account
After you have finished opening an account with a forex broker, to gain access to a user account login and password for the MT4 platform you must create a trading account on the dashboard of the broker's website. When creating a forex trading account, you can choose several types of trading accounts such as Cent Account, Micro account, Standard account, Crypto account or ECN account, and others depending on the type of account provided by the broker.
After that, you will be given a Login ID and password to access the Metatrader 4 platform. Next, you need to download the MT4 software or application for trading.
Step 4: Deposit money into your Forex account to start trading
After completing the forex registration method above, you can proceed to make a deposit and start trading.
You can deposit/withdraw money via interbank transfer methods, Neteller, Visa Card or Internet Banking and others. Because currently many Forex brokers currently support various deposit/withdrawal methods.
3. How To Register Forex For The Best Forex Broker In The World
1. How to Register a Forex Account on XTB
Step 1: Visit the XTB website: https://www.xtb.com/
Step 2: Fill in your email and select a country
Step 3: Create a password with at least 8 characters
Step 4: Fill in the personal information according to the system requirements on the XTB website
Step 5: Fill in the FATCA – XTB annual income declaration, desired investment amount, and main income source information
Step 6: Fill in the full address to open an account
Step 7: Select the trading platform you want to use, the type of training account, and the currency used in XTB
Step 8: Agree to the terms of the XTB Forex broker
Step 9: After registering a trading account, you already have a trading account on XTB
Step 10: To activate an XTB account, you can verify your identity to be able to make transactions on the exchange
Step 11: Verify your identity by uploading your KTP or Passport via the XTB application or via the XTB website on your computer
Step 12: Verify the address on XTB
Step 13: After completing the process of opening a forex account at XTB, the XTB broker will send a notification to you via email about the login id and password to trade
2. How to Register a Forex account at FXTM
Step 1: Visit the FXTM website: https://www.forextime.com/id and start registering to open an FXTM account.
In this step, you need to fill in the basic required information and then click Register
Step 2: Complete the FXTM account opening form
Fill in the information required by the FXTM broker and check the box about requirements at the end, then click Register
Step 3: Open an MT4/MT5 trading account at FXTM
You will choose the account type you want, account currency, account leverage, trading account type, password
Step 4: Verify identity and address
You then have to upload the necessary Identity cards such as KTP/SIM/Passport
Step 5: Verify payment with FXTM
In this step you need to deposit money or make a deposit and take a photo of the transaction or proof of transfer and send it to the FXTM broker for verification process.
