How to open a foreign exchange trading account

After finding the correct broker again, you can follow the following steps to open a new trading account.

  1.Select account type

  2.Registered account

  3.Activate account

Before trading the hard earned money, you may want to open a simulated account first(Click to register the account provided by Ruixun Bank). In fact, you can open two to three simulated accounts--Why not? It's free! Try establishing a simulated account through different brokers to see which one is more suitable for you.

Select account type

But when you are ready to open a real-time trading account, you need to choose the type of trading account you want: personal account or company account.

In the past, openingforeign exchangeWhen opening an account, you also need to choose whether you want to open a "standard" account, a "mini" account, or a "mini" account.

This is no longer a problem now, as brokers allow you to set your own trading units. This is great for beginners with small amounts of capital and inexperienced traders. This provides you with a lot of flexibility, as your trading scale does not exceed your comfort zone.

At the same time, always, always remember: always study contracts.

Some brokers include the "Manage Account" option in their application forms. If you want a broker to help you with account transactions, you can choose this option. But is this really what you want? After all, completing all the courses here is not about letting others help you trade.

Additionally, ensure that you are opening a foreign exchange spot account, not a forward orfuturesAccount.

Registered account

When opening an account, you must complete some paperwork, and the forms for different brokers may vary. They usually providePDFVersion, you can useAdobeReader viewing and printing.

Additionally, it is important to understand all relevant fees, such as how much the bank charges for wire transfers. You may be intimidated by the actual size of these fees, which may account for a significant portion of your trading capital.

Opening a transaction account with Ruixun Bank:Ruixun Bank Account Opening Tutorial

Activate account

When your broker receives the required documents, you will receive an email with instructions on how to activate your account. After completing these steps, you will receive an email containing your username, password, and account recharge instructions.

Then, the rest is to log in and start trading. It's very simple, huh?

It's time to log in, click on those charts, and start trading!

But wait a minuteBut wait just one minute!

We strongly recommend that you use a simulated account first. There's no shame in conducting simulated account transactions--Everyone needs to have a starting point.

If you have been trading with a simulated account for at least six months, you may be able to start real-time trading. Even then, we suggest that you go from shallow to deep and consider the risks you are willing to take.

After all, actual transactions are vastly different. The difference between them is like being with your little brother(sister)Fighting and fighting with Pacquiao(Manny Pacquiao)Confrontation is the same.

No matter how successful you are in a simulated account, there is no substitute for the feeling of using actual money for online transactions.