Dec 23, 2019
What Do I Need To Open An Account In An Online Broker?
Today there are a large number of online brokers in the market with which you can invest in Forex, CFDs. Each of them can offer various trading accounts, platforms, trading conditions. The process of opening an account is quite simple and fast, since the whole process is done through the Internet, and in a short time, you can have your account ready to start operating. Although there are online brokers that have a simpler registration process than others, the following are the most frequent steps to open an account:
1- Cover The Online Registration Form
Once you have selected the Broker in the Forex market (Broker ในตลาด Forex, which is the term in Thai) with which you are going to invest, you can start the registration process from its website. The first thing will be to fill in the form with your personal information and address. Generally, this type of form is usually divided into steps or blocks, and after entering your basic data, it is usual that you have to choose the trading account, the currency with which you want to operate, the level of leverage, etc. To comply with regulatory bodies, most brokers also often ask you about your knowledge and trading experience. In the end, you must read, agree, and accept the contract conditions and other legal terms.
2- Sending Documentation
Although some online brokers may request documentation when you are going to make your first withdrawal of funds, most usually do so during the account registration process. The documentation they usually ask for is the following:
– Proof Of Identity:
It is about sending them a document that proves your identity scanned or photographed. It must be an official document, issued by a competent authority, such as a passport, ID, or driver’s license. It must be valid and show your photograph, name and surname, date of birth.
– Proof Of Address:
To prove the accuracy of your address, you must provide a scanned or photographed some recent service invoice (usually not accepted before three months), which reflects the address you provided. It has to be some type of recurring service bill (electricity, gas, water, telephone bill).
3- Make An Initial Deposit
Each online broker usually establishes a minimum initial deposit for the opening of each of the trading accounts it offers. When you offer several accounts, each one usually improves the trading conditions of the previous one in exchange for a higher initial deposit requirement. Therefore, you must first ensure the minimum deposit required for the trading account you want to open.
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