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forex

open a forex trading account

How to open an account for forex trading, with the spread of forex trading over the Internet, which is a quick application that creates new accounts, which gives access to the back office. Depending on the jurisdiction of the brokerage firm, there may be a questionnaire about the position, income, savings, and experience

The depth of questions can vary, and the first step to opening a Forex trading account sometimes includes a bit of information such as name, email address, and password

Regulated brokers must comply with the AML policy and be aware of KYC requirements

This step is mandatory, and traders should avoid brokerage firms that do not request it, as the probability of a fraud occurring from these companies is very high. Some applications include the entire process in one form

Others offer a trading account with limited functionality, including the ability to deposit funds and require a Know Your Business step next. The best way is to wait for full verification before continuing

In most cases, it takes a few minutes, depending on the technology used. Manual verification can take up to 24 hours in rare cases, but brokers try to process it as quickly as possible

Forex brokers

One of the main tasks of successful traders is choosing the right forex brokerage, and it is also somewhat difficult

The popularity of forex trading around the world has attracted a large number of scammers, and even well-regulated brokers use deceptive marketing campaigns about their products and services to attract new retail traders who are unable to understand the difference

When choosing a Forex broker, it is important to ensure that their regulations are correct, as some of the less scrutinized brokers claim to have expired or canceled listings

Forex Basics: Create an Account

The Forex market is the most liquid financial market in the world, with a daily trading volume reaching $ 6.6 trillion as of April 2019, the most recent official data. And its popularity continues to grow with the constant influx of new retail traders competing against banks, hedge funds, and other institutional traders

Technology plays a crucial role in all areas and will revolutionize future forex trading, making the trading platform equal to market participants, increasing consistency as well as profit potential

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