Account Commodity Trading Online Trading
How to Open a Live Commodities Trading Account
To open a Live Commodity Trading Account you can go to an online commodity broker website and open one. Once you go to the broker of your choice & select this option, you will then have to fill some online forms, the commodity step by step process of filling these forms is explained in this guide.
With this online trading account you can trade the following: Commodities, Commodities, Silver, Oil, CFDs, Futures and Indices.
How to Open an Online Commodities Trading Account
To open this live commodities trading account, a trader has to fill some online forms provided by a commodities trading broker. The account opening online form can be obtained from your online commodity broker.
Process of opening a real commodities trading account is one where your commodity broker will also require that you upload the following accompanying documents:
What Are the Documents That are Required To Open An Online Commodity Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or other official identification document that is issued by authorities (e.g. Driver's license, identity card, etc). The identification document must have client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months and confirming your registered address.
You can use your mobile phone to take pictures of these documents and then upload them directly from your mobile phone(this is the best option when opening a commodities trading account). Alternatively you can use your digital camera, upload the pictures to your desktop computer then upload the saved documents on to your account
To Get to where to upload the required accompanying documents look for the option "Upload Documents". Please note that after opening your commodity account it will not get verified until you have completed uploading these supporting documents.
Why is a Copy of My ID and Utility Bill Document with My Name Required?
These documents are required by your commodity broker to guard against money laundering. AML, or Anti Money Laundering Regulations require all brokers ask for proof of ID and Residence with your name so that to verify that as a trader as a trader you are a citizen of the country you say you are from as well as a copy of a Copy of Utility Bill that shows your exact residence location, that way you cannot create some fake identity or some fake residence to use for money laundering.
All regulated commodities trading brokers must adhere and comply with this requirement before opening a trading account for a new client.
Now once you have scanned or taken pictures of these commodities trading account opening forms:
2.Proof of ID - Color copy of ID card or Passport Document
3. Proof of Residence - Color copy of a utility bill, electricity bill etc. (bill with recent date, dated within the last six months).
Upload the above forms plus the above document color copies, you can use your camera phone to take color pictures of the above documents, then down-load the pictures from your mobile phone to your PC computer and then upload these pictures from your computer.
Once your online commodity broker receives the online commodities trading account opening sign up forms plus above documents, your application will be processed and you'll be assigned a log-in account number & a login password for live commodities trading account.
Once you upload these required supporting documents your account will then get to be validated. Your log in details will be sent to your email address. Example of a verified account is displayed and illustrated below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your commodity broker must follow this policy and try to do everything to know who their client is, so as to safeguard against any money laundering activity.
You can then use your details to log into your MT4 platform & begin trading on this verified account. You can also use the same log in details to login to your trader cabinet on the broker website. On the commodity myaccount area trader cabinet you can deposit money, withdraw money & view trading reports of your commodity broker account.
How to Open an Online Commodity Trading Account
To open this commodities trading account, a trader has to fill some online forms provided by a commodities trading broker. The account opening online form can be obtained from your online commodities trading broker.
Process of opening a real commodities trading account is one where your commodity broker will also require that you upload the following accompanying documents:
What Are the Documents That are Required To Open An Online Commodities Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or other official identification document that is issued by authorities (e.g. Driver's license, identity card, etc). The identification document must have client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months and confirming your registered address.
You can use your mobile phone to take pictures of these documents and then upload them directly from your mobile phone(this is the best option when opening a commodities trading account). Alternatively you can use your digital camera, upload the pictures to your desktop computer then upload the saved documents on to your account
To Get to where to upload the required accompanying documents look for the option "Upload Documents". Please note that after opening your commodity account it will not get verified until you have completed uploading these supporting documents.
Please note if you do not upload above documents your account won't be validated - Make sure you upload the above documents to get your account verified. More than 50% of all new traders don't succeed in opening their commodities trading account because they fail to upload the required accompanying documents. If you correctly upload all the required supporting documents then your account will be validated and you can begin trading with your account within 5 minutes. Take a color picture of these 2 documents with your smartphone & upload these direct to your commodity broker website using your mobile phone browser.
Where To Upload Copies of Documents on The Commodities Trading Account
Once you've filled and Submitted the account opening forms that your commodity trading broker will have provided you with, you'll get access to your myaccount area client cabinet: This will now then be your commodities trading account.
The "Upload Documents" Button Key can then be accessed from within this myaccount area trader cabinet and as a trader you can upload your documents using this button key.
Once you complete uploading the correct documents on "Account Verification" on your account will reflect as Validated and you can then start trading on this commodities trading account.
This process might seem simple but more than 50 % of all new traders don't succeed in opening their commodities trading account because they fail to upload the required accompanying documents.
Why is a Copy of Identity Card and Utility Bill that Has My Name Required?
These documents are required by your commodity broker to guard against money laundering. AML, or Anti Money Laundering Regulations require all brokers ask for proof of ID and Residence with your name so that to verify that as a trader as a trader you are a citizen of the country you say you are from as well as a copy of a Copy of Utility Bill that shows your exact residence location, that way you cannot create some fake identity or some fake residence to use for money laundering.
All regulated commodities trading brokers must adhere and comply with this requirement before opening a trading account for a new client.
Once your online commodity broker receives these online account opening registration forms plus above documents, your application will be processed and you will be allocated a log-in account number and password for the live commodities trading account.
Once your uploaded documents are approved by your commodity broker - your account will then get to be validated. Your log in details will be sent to your email address. Example of a verified account is displayed and illustrated below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your commodity broker must follow this policy and try to do everything to know who their client is, so as to safeguard against any money laundering activity.
You can then use your details to log into your MT4 platform & begin trading on this verified account. You can also use the same log in details to login to your trader cabinet on the broker website. On the commodity myaccount area trader cabinet you can deposit money, withdraw money & view trading reports of your commodity broker account.
Commodity Traders Cabinet Members Area for Making Commodities Account Deposits & Withdraws Request
Withdraw and deposit options provided from within the traders client cabinet area where traders can deposit & make withdraws from the various options provided, for examples: Credit Card & Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram & Western Union money transfer methods as shown below.
