How to Open a Forex Trading Account: Step by Step

2018-09-30

Opening a forex account is done online and usually takes a short time once your documents are ready. The typical steps are below; each broker's exact process may differ.

Step 1: Choose a broker and account type

Compare brokers on regulation, trading cost and rules. Decide between a standard account (cost in the spread) and a raw or ECN account (low spread plus commission). See our broker comparison.

Step 2: Register through the broker link

Use the account-opening link on the broker page. If the broker uses an invitation or referral code, check that the code for your account type is entered.

Step 3: Verify your identity

Brokers ask for proof of identity (passport or ID card) and proof of address, such as a bank statement or utility bill. The documents accepted are decided by the broker.

Step 4: Fund your account

Deposit with a payment method available in your country. Check fees and processing times first.

Step 5: Download the platform

Install MT4, MT5 or the broker's own platform and log in with the account details sent by the broker.

Step 6: Link your rebate

Contact us with the broker name and your trading account number so we can confirm the account is linked to our rebate channel. Never share your password or verification codes.