How to open a trading account with a broker?

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To start your trading career, you need to choose a suitable intermediary and open a trading account. Recently, trading on the international exchange has become remote, and now every owner of capital has the opportunity to purchase shares or other profitable assets. At the same time, only professionals get rich on the world marketplace, and amateurs quickly lose their first deposit and leave this area with disappointment.

Today we will talk about how to start professional trading and increase your starting capital through profitable speculations on the market. Ready-made instructions on how to create a Forex trading account will help you better orient yourself in the new profession, and information about tariffs will allow you to choose the best terms of cooperation with the intermediary.

Step-by-step instructions for opening a trading account

Opening a trading account requires a smart approach and focus on the goal. Despite the relatively simple algorithm of work, modern trading hides a lot of surprises and risks. Below we describe each step and provide guidance on how to proceed.

5 steps to professionalism! How to open a trading account and learn how to earn:

1. Choose a broker and enter into a contract with them. Many specialized companies can be found on the Internet and a potential trader will have to choose the best one. For information about the intermediaries, it is recommended to read reviews from past clients and pay attention to the data from the official website. If the information on the broker web resource does not coincide with the description of users, it is better not to contact such an organization.
   Allegations of fraud or poor service should be a warning signal to a newcomer. Due to unscrupulous brokers most of the starting deposits are lost, so the first step is very important for the subsequent career.
   Once a professional intermediary has been selected, the businessperson will need to enter into a contract. This action can be done remotely or at the company’s office. The customer needs to provide their passport details, phone number and email. All information is verified by scanning identity documents. For this purpose, a passport, driver’s license or ordinary passport will do.
2. Most intermediaries provide quality training. The company’s website offers free workshops and tutorials for beginners. Before you start trading, you need to prepare thoroughly. Go through a few books, learn the basic concepts and pick a few appropriate strategies. For these purposes it is allowed to use any specialized literature, thematic articles, videos or YouTube channels. If possible, it is recommended to take specialized courses in the area where you live.
3. Open a demo trading account. This is a risk-free trading option that allows you to determine your own capabilities and choose the best behavioral strategy. If a broker provides services in good faith, his demo and real accounts should not differ from each other. Test mode activities are less stressful because the person is not risking their own finances and can relax while working. Otherwise, the tactics and theory of trading in these modes are similar.
4. Go to a real account. After acquiring practical skills in a demo account, an investor can replenish his deposit and earn real money. If its profitability is more than 70%, there is a high probability of success on real accounts. To begin with, it is recommended to take a standard tariff, and after enriching yourself on it, move on to more professional ones.
5. Record your results in a trader’s diary and track your mistakes. At the end of each workday, review the results and draw your own conclusions. Thus, the player will quickly gain new experience and adjust his tactics in case of a drawdown. Then he can become a money manager and earn not only on his own money, but also on other people’s money.

By following these 5 steps, the investor will reach a higher earning level.

Available account types at Forex

Before opening a forex trading account, a trader must choose a suitable tariff. Each option has its own level of service and start-up capital. Depending on their needs and capabilities, the client determines the most comfortable conditions.

In practice there are 6 tariffs:

• Standard – involves transactions with currency pairs, shares, precious metals and raw materials. It is characterized by low speed of order processing and lack of full-fledged customer support. In some cases, analytics or 24/7 service is disabled on standard plans.
• Cents – resembles the previous option, but allows trading with minimum amounts. Here you can work with a few cents and make trial trades with relatively small losses.
• Professional – provides high speed order processing, full training and 24/7 service. The client receives quality analytics and can consult with a personal manager. When replenishing a trading account of this type, you should understand that the starting deposit will be much higher than the previous tariff. As a rule, work on a professional account starts from the amount of 100,000 rubles.
• Cryptocurrency – characterized by currency instruments that are in the form of digital coins. An investor can transact in multiple e-currencies or use dollar pairs. This option is well suited for those who intend to keep their money in cryptocurrency and wish to multiply it.
• ECN-account opens the possibility to work on the trading floor without intermediaries. There are several bids here with specified buy and sell rates for the asset. The key advantages of working with ECN accounts are minimal commissions and small spreads. Among the disadvantages, a high entry threshold is noted, due to which beginners will not be able to use the tariff.
• No-surcharge may be prescribed separately or included in other rates. It does not imply commission charges when transferring open trades to the next day, so swaps are not accumulated here. This option will work well for all long-term traders.

Each broker provides its own account variations, so it is recommended to read the trading conditions carefully before signing up for one of them. Differences may consist of commission percentages, information support, spreads and other deductions.