How to open an account for foreign exchange speculation?

You can buy and sell foreign exchange directly to open an account at a bank. Now most banks support foreign exchange trading, but this type of trading is based on the actual funds invested by the user, without leverage; if the user chooses certain platforms to speculate in foreign exchange, the account opening needs to be selected A formal foreign exchange platform, then you can register and open an account. When opening an account, you can usually only choose foreign platforms or domestic agents.

When opening a foreign exchange account, it is generally necessary for the user to be over 18 years old, and then provide identification materials, including ID card, account book, driving license, etc., and finally submit personal mobile phone number, bank card information, email address, etc., so as to ensure that foreign exchange investors are normal The deposit and withdrawal of gold.

The risks faced by foreign exchange transactions mainly include exchange rate risk, credit risk, operational risk, broker risk, interest rate risk, margin risk, etc. These risks are all that investors need to face. However, it is best to have relevant knowledge when investing in foreign exchange to reduce risks.

Foreign exchange transactions require investors to have relevant knowledge, at the same time to use personal spare money, but also need to have good psychological quality. Unlike other financial markets, the foreign exchange market has no specific location and no central exchange. Instead, transactions are conducted through electronic networks between banks, enterprises and individuals.
How to open an account for foreign exchange speculation?

What is the foreign exchange account opening process?

Foreign exchange speculation is a very common investment behavior, and most residents of developed countries participate in it. The process of opening an account for foreign exchange speculation generally includes five aspects: choosing an account bank; opening an account and depositing foreign exchange; determining a trading strategy and formulating a trading plan; establishing a daily source of foreign exchange market information.

Platform selection: For the safety of funds, you must choose a formal foreign exchange dealer or foreign exchange trading agent supervised by relevant state departments. This is very important. Friends of exchange can go to the official website of Forex Tianyan to inquire about the qualifications and qualifications of relevant dealers Skyeye score!

Online account opening step 1: Open the official website of the foreign exchange dealer or agent, browse related information, and read the account opening process introduction.

Online account opening step 2: After selecting the account opening on the official website, provide relevant documents and information, such as ID card, bank card, phone number, email address and other information, and wait for review after submission. After the review is passed, you will be notified by SMS that the account has been opened successfully

Offline account opening: Find the store of the selected foreign exchange dealer or agent, and open an account directly at the business acceptance window. You also need to fill in some forms and submit personal ID card, bank card, mobile phone number, email address and other information. Generally, you can successfully open an account on the spot.

Download operating software: Forex operations need to be carried out on special software. There are many types of software and you can choose freely according to your own preferences. The popular one is MT4 for reference. Binding your account opening information on the software.

Deposit operation: deposit money into the account through the bank card bound when opening the account. Note that the bound must be your own bank card. You can try a small amount at the beginning to see if it is convenient and fast. Generally recommend RMB UnionPay deposit, the handling fee is relatively low.

After the funds arrive in the account, you can buy and sell foreign exchange through the software, pay attention to the risks.

Withdrawal operation: ask for withdrawal of money from the platform. Some platforms can directly apply to raise RMB, while others cannot. Please consult the other party clearly when opening an account.

What are the precautions for opening a foreign exchange account?
Note 1 for foreign exchange account opening
Choosing a stable foreign exchange platform is a great feeling for investors after the transaction. A delayed and frequently dropped platform will make many great trading opportunities pass by investors, and will make investors sigh and sigh.

Note 2 for foreign exchange account opening
Choose a relatively well-known foreign exchange company for foreign exchange account opening. There are two reasons: first, a powerful foreign exchange company can have enough capacity to maintain the company’s operations at any time; second, a powerful foreign exchange company means that it acts as a formal and reliable foreign exchange platform, and has great selectivity. Great authority is also responsible for domestic foreign exchange investors.

Note Three for Foreign Exchange Account Opening
When opening a foreign exchange account, pay attention to opening an account first and then depositing funds. If the account is opened first after depositing funds, then it is possible to defraud investors’ trading funds. It may not even be a basic foreign exchange platform, but purely a financial fraud. A formal process should be like this, first simulate the transaction, submit personal basic credentials to open an account, after the account number and password of the account are successfully opened, log in to the platform to test the accuracy of the account and change the password. After that, consider whether to deposit. Therefore, pay attention to the sequence of the foreign exchange account opening process.