How to Open a Trading Account Safely

Basically, forex trading is an activity of buying and selling foreign exchange (forex). However, transactions are carried out online and connected to the world interbank market network. So it is different from currency exchange at a money changer or bank. In forex trading, it is the forex broker or futures broker who acts as an intermediary between the trader and the market. When a trader wants to open a forex trading account, make sure that the trader visits the broker's website, it is recommended that traders choose a broker that is regulated and under the supervision of BAPPEBTI. Traders only need to take three easy steps to create a forex trading account, namely choosing the type of trading account, registration, and activation of the trader's account. Before diving into the real world of trading, make sure the trader is practicing trading using a demo account.

Selecting Account Type

When the trader is ready to start trading, the forex trading account is divided into three parts based on the lot size namely mini account, standard account and micro account, the trader can choose which type of account the trader wants to use. As there is a lot of competition between brokers, brokers allow traders to trade with the lot size traders need. Many inexperienced novice traders are interested in trying trading because the capital is not too large.

Registration

The next step traders need to register, the necessary data such as ID card or driver's license as a complete document required to register with each broker. But almost all brokers require traders to complete documents like this. Before registering, make sure the trader knows for sure what costs will be charged to the trader.

Account activation

After the broker receives all the required documents from the trader, the trader will receive an email from the trader's broker to complete the registration process. After the registration process is complete, traders will usually receive an email containing the trader's account username, password, and instructions on how to deposit trading funds into the trader's account. After that, the trader can download the trading platform from the broker trader's website, login using the username and password that has been provided, and the trader can start trading forex.


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