Trade Gold Trading

How to Open Live Account

Gold Account Example - Traders open a live account by visiting an online broker's site. Pick your broker and choose the real account option. Fill out the forms online. This lesson's guide covers the steps for opening the account - Gold Account Example.

With this online account you can trade the following: XAUUSD, Gold, Silver, Oil, CFDs, Futures and Index.

How to Open an Online Trade Account

To open a live account, fill out the broker's online form. Get the gold trading form from your broker.

To open a real gold account, your broker will also ask you to upload some documents to support your application: here is what you need:

What Are the Documents Which are Needed To Register An Account?

1. Verification of Identity Documentation - A color-scanned copy of an official identification card or Passport is required. This must be a color photocopy of a government-issued ID, valid passport, or another official document (e.g., Driver's license, national ID card, etc.). The identification must clearly show the Gold trader's full registered name, issuance or expiration date, the customer's location and date of birth, or tax identification number, alongside the customer's signature.

2. Proof of address - Color copy of a recent utility bill. Use something like electricity, phone, water, gas, internet, cable TV, or bank statement. It must be from the last 3 months and match your address.

You are able to use your mobile device to take pictures of these papers and send them right from your phone (this is the easiest way when opening a trading account). Or, you could use a digital camera, put the pictures on your computer, and then send these needed papers to your account.

To find where to upload necessary documents, look for the 'Upload Documents' option. It's important to remember that account validation will only occur after all required documents have been uploaded.

Why is are Copies of Identity Card and a Copy of a Utility Bill which Has My Name Required?

The documents are required by your online trading broker to guard against any money laundering activity. AML, or Anti Money Laundering Rules require all brokers ask for proof of your Identity and Residency with your full name so that to validate and certify that you're a residential citizen of the country you claim you are from as well as a Copier of Utility Bill that portrays your exact current residential location details and particulars of where you reside, that way you can not create some fake identity or fake residence to use for cash laundering.

All regulated brokers must comply to this requirement before signing up a trading account for a new client.

Now once you've scanned or taken pictures of these account sign up forms:

2.Proof of ID - Color copy of Identity card or Passport Document

3. Proof of Where You Live - A color copy of a bill, like an electric bill (a bill that is new, from the last three months).

Upload the above forms in addition to the above doc colour copies, you can use your digital camera phone to take colour photos of above docs, then download the pictures from your phone to your Desktop computer and then upload these photos from your computer.

Once your online trading broker processes your application for an online account along with the required documents, you will receive a gold login number and password for accessing your real account.

Your xauusd trading account will be confirmed after you submit these supporting documents. Your Mail address will receive your gold sign-in credentials.

This is K. Y. C. , which stands for Know Your Client. It's more of a legal need than a formality. Your online broker must abide by this law and make every effort to find out who their customer is in order to protect against any money laundering.

Log into your MT4 software with your login credentials to trade on this verified account. Use the same details to access your client area on the broker site. In the my-account section, deposit funds, withdraw money, and check account reports.

How to Open an Online Trade Account

To open this account, one must complete the account registration form provided by an online broker. The gold account registration form can be obtained from your online trading broker.

To open a real gold account, traders are usually required to upload specific supporting documents as directed by their broker.

What Are the Documents Which are Needed To Register An Account?

1. Proof of ID - Color copy of ID card or Passport - A color copy of official Identity doc or valid passport or another document issued by authorities (example. Driver's license, identity card, etc). The ID document must have the Gold trader's full names, an issue or expiry date, the customer's place & date of birth or tax Identity number and customer's signature.

2. Proof of address - a colored copy of a recent bill. Use a utility bill like electricity, phone, water, gas, internet, cable TV, or bank statement. It must date from the last 3 months and match your registered address.

You can utilize your phone to take snap-shots of these documents and upload directly from your mobile phone(this the best option when registering a trading account). Alternatively you can use a digi camera, upload pictures to your Desktop computer PC & then upload these saved documents to your account sign in clients/customers area on the website of your online broker

Look for the Upload Docs option to add needed files. Note that your trading account stays unverified until you upload copies of required documents.

Please note if you don't upload above required documents your account won't be verified - Make sure you upload above documents to get your trading account verified. More than 50 % of all new traders don't succeed in signing up their account due to the explanation that they fail to upload the necessary supporting documents. If you correctly upload all the supporting documents then your account will be validated & you can begin trading with your trading account within five minutes. Just take color photo of these 2 docs with your smart-phone and upload these supporting documents directly to your broker website using your mobile phone browser.

Where to Upload Docs on the Trade Account

Fill out the broker's registration form. Then you get into your personal trader area. That becomes your main account.

'Upload Docs' Button can then be accessed from this trader cabin & as a gold trader you can upload your supporting docs using this button.

Upon successful submission of all necessary documentation under the 'Account Verification' section, your account status will change to 'Validated,' enabling you to commence trading activities.

The sign-up looks easy, but over half of new traders fail. They skip uploading the needed ID documents.

Why is a Copy of My Identity and a Copy of Utility Bill Document with My Names Needed?

The documents are required by your online broker to guard against any money laundering activity. AML, or Anti Money Laundering Rules require all brokers ask for proof of your Identity & Residency with your name so as to verify & certify that you're a resident citizen of the country you claim you are from as well as a Copy of Utility Bill which displays the exact residence location of where you reside, that way you can't create some fake identity or fake residence to use for cash laundering.

All regulated brokers must comply to this guideline before registering a account for a new client.

Once your online broker receives the online trading account signup application plus the above documents, your sign up application will be processed & you'll be assigned a login number and a password for the real account.

Once your uploaded documents are approved by your online broker - your account will then be verified. Your sign in details and particulars will be sent to your E Mail address. Explanation of a validated account is shown and illustrated below:

KYC means Know Your Client. Brokers must follow this rule to learn about customers. It helps stop money laundering. It's a key legal step.

You can then use your authorization login credentials/details to log into your MetaTrader 4 platform and start trading on this verified account. You also can use same login details and particulars to login to your client cabin area on the broker web site. On the my-account cabinet area you can deposit money, withdraw money & view reports of your broker trading account.

Traders Cabinet Area for Making Gold Account Deposit and Withdraw Request

Withdraw and deposit options provided from within the Gold traders cabinet where traders can deposit & make withdraws from the different options provided, for example: Credit Card & Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram & Western Union money transfer techniques & methods such as illustrated and shown below.

Open a real account - when you wrap up this Gold course, open your account early. It just takes a few minutes to get started and validate the account.

How Can You Register Account - How Do I Sign Up Account - How to Open Real Trading Account - Gold Account Example

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