How to Open a Forex Demo Account and Forex Live Account 

 July 2, 2014

By  Advanced Strategies

Are you one among the people who are wondering how to open a Forex demo account and Forex live account. Here are a few tips to help you.

Prior to opening a live account, you should open a demo account.

There is not much different from a live account, except for virtual profits and losses.

Steps To Open Forex Demo Account

  • A demo account can be opened only at a trader’s terminal. So, you should download the setup file.
  • Once the setup file has been downloaded, you should install the program.
  • Once you have installed the program, you should launch the terminal.
  • Now it is possible for you to open an account.
  • Open the menu column and click on File. Then click on Open an Account.
  • Fill in the required registration form and mention the type of account you want to open. You should also choose the amount you are making as the initial deposit in your training account. The amount will be displayed as virtual money on your training account in US$.
  • Make sure you have filled out all the fields correctly. Adjust the settings and click on “Receive – News – Via – Email”. Make sure there is a tick next to it and then move on to click the “Next” button.
  • You will receive your account number and password. Please save these two in a safe place or try to keep them in mind and do not forget them.

Steps To Open Forex Live Account

  • Submit your live application: Fill out the requested information on the secure application site.
  • Provide documentation: You will be required to send documentation to verify your identification. You should send a photocopy of a non – expired, government issued photo ID, like your passport, driver’s license or non-driver’s ID. This ID should clearly indicate your date of birth. All documents must be valid, unless stated otherwise.
  • You should also submit a proof of address, such as utility bill, credit card statement or bank statement, dated within three months for the address you have mentioned on your application. The billing name, address and the company that has issued the bill must be clearly visible.
  • Start funding your account: Once your account application is approved, you can fund your trading account and get started.

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