How Much Does it Cost to Begin a Silver Trading Account?
As a trader you can decide to begin with $1,000 for Mini Silver Accounts Or you can decide to start with $100 for Micro Lots
You can also decide to start with $10,000 if you want to open a Standard xagusd trading account to be trading Silver Trading Standard lots.
Minimum Capital Required to Start Online Silver Trading
What's needed to open a xagusd trading account?
Once you have selected an online silver broker to open an account with - the requirements for opening an account with an online silver broker are listed below.
Requirements to Get Started with XAGUSD Trading
How to Open MT4 account
To open a MetaTrader 4 account you can go to MT4 brokers website and open one. Once you go to the broker of your choice and select this option, you'll then have to fill some online forms, silver trading step by step process of filling these forms is explained in this tutorial.
With this online MetaTrader 4 trading account you can trade the following: Silver, Silver, Silver, Oil, CFDs, Futures and Stock Indices.
XAGUSD Trading How to Open an Online MT4 account
To open this live xagusd trading account, a trader has to fill some online forms provided by a xagusd trading broker. The account opening online form can be obtained from the MT4 xagusd trading platform broker. On the Accounts menu provided on the File menu in the MT4 platform - choose Open a new account option & then you can open an account - a demo silver account or live account option is provided & you can open the type of account you want. You will then have to fill an account opening forms.
The process of opening a real xagusd account is one where your silver broker will also require you upload following required documents:
What Documents Are Required To Open An Online Silver Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of official identification document or valid passport document issued by authorities (example. Driver's license, identity card, etc). Identification document must contain the client's full name, an issue or expiry date, 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 (example. Electricity, phone, water, gas, oil, Internet and/or cable TV connection, bank account statement) dated within the last Six months and validating your registered address location.
You can use your mobile phone to take snapshots of these documents and then upload them direct from your mobile phone(this is the best option when opening a xagusd account). Alternatively you can use your digital camera, upload pictures to your desktop computer then upload saved documents on to your trading account
To Find where to upload the required accompanying documents look for the option "Upload Documents". Please note that after opening your silver trading account it won't get to be verified until the time you complete uploading these copies of accompanying document.
Why is a Copy of My ID and a Copy of a Utility Bill Document with My Name Required?
These documents are required by your silver broker to safe-guard against money laundering activities. AML, or Anti Money Laundering Regulations entail that all brokers ask proof of ID and Residence with your name so as to verify that you are a citizen of the country you claim as a trader you are from as well as a Utility Bill that shows your exact location where you reside, that way you can't come up with some fake identity or fake residency location to use for money laundering.
All regulated silver brokers must comply to this requirement before opening a silver account for a new client.
Now once you've scanned or taken pictures of these silver trading account opening forms:
2.Proof of ID - Color copy of ID or Passport
3. Proof of Residence - Color copy of utility bill, electricity bill etc. (bill with recent date, dated within the last 6 months).
Upload the above forms plus the above document color copies, you can use your camera phone to take color photos of above documents, then download the pictures from your mobile phone to your computer and then upload these pictures from your computer.
Once your online silver broker receives the online silver trading account opening application forms plus the above documents, your application will be processed & you will be given log in account number & a sign in password for the live xagusd trading account.
Once you upload these required accompanying documents your account will then get to be verified. Your log in details will be sent to your email address. Example of a validated account is displayed and illustrated below:
This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your silver broker must follow this policy and try to do everything to know who their client is, in order to guard against money laundering activities.
You can then use your details to log into your MT4 platform & begin trading on this validated account. You can also use same log in details to login to your myaccount client cabinet area on silver broker web site. On the trader cabinet you can deposit money, withdraw money & view trading reports of your xagusd trading broker account.
XAGUSD Trading How to Open an Online Silver Trading Account
To open this xagusd trading account, a trader has to fill some online forms provided by a xagusd trading broker. The account opening online form can be obtained from your online xagusd trading broker.
The process of opening a real xagusd account is one where your silver broker will also require you upload following required documents:
What Documents Are Required To Open An Online XAGUSD Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of official identification document or valid passport document issued by authorities (example. Driver's license, identity card, etc). Identification document must contain the client's full name, an issue or expiry date, 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 (example. Electricity, phone, water, gas, oil, Internet and/or cable TV connection, bank account statement) dated within the last Six months and validating your registered address location.
You can use your mobile phone to take snapshots of these documents and then upload them direct from your mobile phone(this is the best option when opening a xagusd account). Alternatively you can use your digital camera, upload pictures to your desktop computer then upload saved documents on to your trading account
To Find where to upload the required accompanying documents look for the option "Upload Documents". Please note that after opening your silver trading account it won't get to be verified until the time you complete uploading these copies of accompanying document.
Please note if you don't upload above documents your account won't be verified - Make sure you upload above documents to get your account validated. More than 50% of all new traders don't succeed in opening their silver trading account because they fail to upload required accompanying documents. If you correctly upload all required accompanying documents then your trading account will be verified & you as a trader can use start trading with your trading account within 5 minutes. Take a color photo of these two documents with your smart-phone & upload these docs directly to your xagusd trading broker web site using your phone browser.
Where To Upload Documents on The Silver Trading Account
Once you've filled & Submitted account opening forms that your silver trade broker will have provided you with, you will get access to your trade cabinet: This will now then be your xagusd trading account.
"Upload Documents" Button can then be accessed from within this myaccount area trader cabinet & as a trader you can upload your documents using this button.
Once you complete uploading correct documents on the "Account Verification" on your account will reflect as Validated & you can then start trading on this xagusd trading account.
This process may seem simple but more than 50% of all new traders don't succeed in opening their silver account due to failure to upload required accompanying documents.
Why is a Copy of My ID & a Copy of a Utility Bill Document with My Name Required?
These documents are required by your silver broker to safe-guard against money laundering activities. AML, or Anti Money Laundering Regulations entail that all brokers ask proof of ID and Residence with your name so as to verify that you are a citizen of the country you claim as a trader you are from as well as a Utility Bill that shows your exact location where you reside, that way you can't come up with some fake identity or fake residency location to use for money laundering.
All regulated silver brokers must comply to this requirement before opening a silver account for a new client.
Once your online silver broker receives these online account opening application forms plus the above documents, your application will be processed & you will be given login account number & password for the live xagusd trading account.
Once your uploaded documents are approved by your xagusd trading broker - your account will then get to be verified. Your log in details will be sent to your email address. Example of a validated account is displayed and illustrated below:
This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your silver broker must follow this policy and try to do everything to know who their client is, in order to guard against money laundering activities.
You can then use your details to log into your MT4 platform & begin trading on this validated account. You can also use same log in details to login to your myaccount client cabinet area on silver broker web site. On the trader cabinet you can deposit money, withdraw money & view trading reports of your xagusd trading broker account.
XAGUSD Traders Cabinet Members Area for Making Silver Account Deposit & Withdraw Request
How Do I deposit money from silver? - How Do I withdraw money from silver?
Withdraw and deposit options provided from within the traders cabinet where traders can deposit and make withdraws from the various options provided, for example: Credit Card & Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram & Western Union money transfer methods as shown below.
