Opening a Trading Account

You follow three simple steps to open a new online trading account with a forex broker:

1. Select an account type
2. Register
3. Activate your account

Account Types You have the choice of opening a forex trading account under your personal name or a business name.
You will have to decide whether you want to open a Mini account, Standard account, or Institutional account.
Here are the requirements for setting up the various accounts with Advanced Currency Markets (ACM), our recommended broker.

Mini trading account conditions
• Original startup funds: 2,000 USD to 5,000 USD or equivalent. • Low trading rates. (spreads: 4 pips on the major currency pairs.) • Guaranteed fills: What you click is what you get (WYCIWYG) • No commissions. • Leverage: Up to 100:1, equates to 1% margin. • Execution method: Constant 1 click dealing ONLY & instant execution • No negative balances. Fully automated margin liquidation. • No capital gains tax on profits. • Online access only
Standard trading account conditions
• Original startup funds: 5,000 USD or equivalent up to 50,000 USD or    equivalent . • Spreads: 3 pips on the major currency pairs. • Guaranteed fills: What you click is what you get (WYCIWYG) in ALL  market    conditions. Applies to ALL order types! • No commissions. • Leverage: Up to 100:1, equates to 1% margin. • Execution method: Constant 1 click dealing ONLY & instant execution! • No negative balances. Fully automated margin liquidation. • Account denomination: Can be USD, EUR, GBP, CHF, JPY, CAD, AUD or    SEK. • No capital gains tax on profits.
Institutional trading account conditions
• Original startup funds: 50,000 USD or equivalent and over. • Spreads: 2 pips on EURUSD & USDJPY, 3 pips on USDCHF & GBPUSD • Guaranteed fills: What you click is what you get (WYCIWYG) in ALL  forex market    conditions. Applies to ALL order types! • No commissions. • Leverage: Up to 100:1, equates to 1% margin. • Execution method: Constant 1 click dealing ONLY & instant execution! • No negative balances. • Fully automated margin liquidation. • Account denomination: Can be USD, EUR, GBP, CHF, JPY, CAD, AUD or    SEK. • No capital gains tax on profits.

Registration You will have to submit paperwork in order to open an account. The forms will vary from broker to broker. They are usually provided in PDF format.

As financial services firms, most brokers are obliged to adhere to the regulatory procedures laid down by the Federal authority against money laundering. Their customers are required to supply documentation proving their identity and origin of funds. This enables the broker to make subsequent checks to determine whether the funds they will accept are in fact derived from a legit source.

You will need to show that you are who you say you, are and that you live where you say you live. Additionally you will have to specify where your transfer will be coming from (which bank, account number etc.), and the activity your funds originate from.


Account Activation Once the broker has received all the necessary paperwork, you should receive an email with instructions on completing your account activation. After these steps have been completed, you will receive a final email with your username, password, and instructions on how to fund your account.

All that's left is for you to send in your money, login and start trading.