The process of opening a Forex Live account is easy and straight-forward, but first, you need to find a forex broker. Here you can find the list of trusted Forex Brokers in Malaysia with their in-depth reviews and ratings to help you browse through the offered services before opening an account.
Opening a forex trading account is not complicated, but traders will need a few things to get started. They will usually have to fill out an online application to provide information about their level of trading experience as well as their trading intentions. They will also need to provide identification and make a minimum initial deposit into their accounts.
The exact steps involved in opening an account may vary from broker to broker, but the procedure typically involves the following:
1) Go to the broker’s website and review the available Forex account types. The trading accounts usually include small-scale accounts with low required initial deposit such as Micro accounts designed for new traders, and ECN accounts with sophisticated features designed for professional traders.
Broker Forex yang dipilih untuk membuka satu akaun dagangan:
Minimum Deposit: $1 Account types: Micro, Standard, Zero
Deposit and Withdrawal: Bank Wire, Credit Cards, Webmoney, PerfectMoney, FasaPay, Skrill, Neteller, Local Malaysian Banks
2)Complete the registration form (Here are a few things that are typically required: Name, Address, Email, Phone Number, the password for your account, Date of Birth, Country of Citizenship, and ID/Passport number). Upon completing the application, you will be registered with a username and password that will give you access to your trading account or personal cabinet. 3) Log in to the Brokers’ client portal, and complete the verification process (Upload your government issued ID or Passport and a utility bill (gas, water, electricity or banking statement) to verify your address.
5)Once you have funded your account, you can start trading!
Forex account types
You can open following trading account types at Forex Brokers:
Forex Micro Account
Specially made for beginners who just started trading and want to deposit small as well, trade small and risk less while testing their trading strategies in the market and get a handle on Forex trading.
Most suitable for Forex newcomers who are totally new to Forex market and want to make a small deposit, open trades in a very small amount (in Cents), and experience trading with real money by risking so little money.
For those who are not well-knowledged in Forex trading and simply prefer to follow professional traders and automatically copy their strategies and trades in their own Forex account with a complete control over their account.
Demo Accounts will allow you to trade in the real market with virtual money with absolute zero risks. Practice in Demo accounts before trading Live. This is suitable for traders of all levels who want to test their trading strategies without risking money.
For those who want to invest in precious metal Gold (XAU). In the Forex market, gold can be traded around the clock in pairs with other currencies such as the dollar (XAU/USD). Moreover, you can trade Gold online with leverage in Forex.
If you are totally new to the Forex trading, we advice you to practice trading with virtual money (no risk involved) in demo accounts, before depositing any money and trading for real.
Once you have gained enough experience in a demo account, you can proceed to open a Forex Micro account (suitable for beginners and low depositors) or a Forex Cent account (in which account balance and trades are shown in Cent) to begin trading in the real market with a small deposit.
The foreign exchange market, also known as the forex or currency market, is about as old as the emergence of national currencies. Forex has become the largest market in the whole world, but remarkably, it hasn’t been very long since the general public has gained easy access to this market for trading activities.
The invention of the internet in the 1990s has led to the emergence of retail forex brokers; this allowed individual traders (nearly anyone with internet access and a small amount of initial capital) to start trading currencies. Opening an account for forex trading is quite similar to that of a bank account or any other type of brokerage accounts. However, it is useful to consider some information before opening a Real/Live Forex Account to make certain that trading forex is actually secure, positive and a successful experience.
You are going to need a Forex Broker to be able to trade currencies in the forex market. Retail currency trading has evolved into a decentralized and lightly regulated business. Thus, it is recommended that traders carefully research the reputation of brokers and choose a broker that is firmly-established and well regulated by a financial supervisory authority such as CySEC of Cyprus, FCA of UK, ASIC of Australia, and IFSC of Belize.
High Risk Warning: Trading with highly leveraged Forex products carries a high level of risk; this could be both advantageous and disadvantageous. In the process of trading, you may sustain a loss in excess of your deposited funds. As a result, it may not be suitable for all investors. Before deciding to trade in the real market, please make sure that you understand the risks fully, and seriously consider your investment objectives and your level of experience.