The forex market is a very active one with millions of traders buying and selling currencies every hour. Many people participate in this market because forex trading is a very efficient way to make a sustainable source of money or extra income. To trade forex, you must know how to open a forex account. That’s why we want to provide you with a detailed guide on how to open an account at the best forex brokers nowadays.
The common procedure
Opening a forex account requires multiple steps and verification. Most forex brokers will have the same format of first steps. To open a forex account, you must have an email account. Or if the broker works in your country, you can open an account with your phone number. After you have entered your email/phone number and chose your language, you will have to verify your email/number. Next, you will be taken to an area where you put in your personal information: name, age, nationality, and date of birth…
Then comes the security part. Here you can set up the password for your account as well as other security information like your ID number, address, or nationality…
Finally, you can choose the type of account you want to open as well as the trading platform you want to use. If you choose the MT4 or MT5 platform, download it to trade. Then, deposit some money in for trading.
That’s the common process of how to open an account at a broker. Next, we will see what the top 5 forex brokers in the world require us to do when registering.
Open Exness account
Go to exness.com and click on Open my account.
Enter your email, phone number, and a password for your account.
Verify your email address and phone number by codes sent from Exness.
You will be taken to your Personal Area. Here, you have to enter your gender, name, and birthday.
Agree with the Terms and Conditions of Exness.
Choose your security settings. You can either do it through email or phone number. Then, create a secret word for your trading account.
Fill in the last details: ID number, nationality, and home address.
At this step, you will go to your Account Area. Here, you can choose your trading platform (MT4 or MT5) and your account type (Cent, Mini, Classic, or ECN)
Open XM account
Go to xm.com and click on Open an account
Put in your personal details: Title, Name, Nationality, Address, Phone number, and Email.
Choose your trading account details: trading platform (MT4 or MT5) and trading account type (Micro, Standard, or XM Zero).
Then enter your Investor information.
Next, create your password and agree with XM terms and conditions.
Finally, verify your email address.
After verification, they will send you an account number for you to log in. Log in and start trading right away.
Open HotForex account
Go to hotforex.com and click on Open live account
Choose your client type: Individual, Corporate, or Joint.
Fill in your personal information, including nationality, name, title, email address, date of birth, and phone number.
Verify your email address. HotForex will send you an email with the button Activate Account. This will direct you to your myHotForex Area.
Then HotForex will send you another email that has your login details.
Finally, you can log on to your account and start trading with HotForex.
Open FxPro account
Go to fxpro.com and click on Join Now or Register
First, you must enter your email and create a password. Then, choose your nationality and fill in your name.
Next, complete your details like address, personal information, employment information, and financial information.
Then, choose your trading platform (MT4, MT5, cTrader, or FxPro Edge) and verify your email by an email sent by FxPro.
Log in to your account using the email and password earlier.
Finally, start trading with FxPro. See more about types of Hotforex accounts
Open FBS account
Go to fbs.com and click on Open an Account
Choose your account type (Cent, Micro, Standard, Zero Spread, or ECN)
Enter your name, email, and phone number then click Register.
Then FBS will create a password for your account. You can change it right away if you want.
Then you’ll be taken to your Account Information. To go to your Personal Area by a verification email that FBS sends you.
Finally, you can log on to your account and start trading with FBS. See more about types of FBS accounts
Opening a trading account at a forex broker is not complicated at all. We hope that our detailed guide on how to open an account at the top 5 in 10 best forex brokers in the world today can help you with your very first steps. Good luck.