There is no license or other requirements to start trading. It is possible for you to sign into a Forex trading site and begin with luck and some money. However, it is advisable that you learn as much as possible about Forex strategies and factors that impact the market. Most importantly, watch out for brokers with a track record of reliability. Forex Exchange Market can generate great absolute profits, but leverage trading losses might occur without proper planning and management.
Forex trading involves trading one currency against the other. An example of this includes the purchase of Canadian Dollar using American Dollar or using Japanese Yen to purchase Euro money. The most often traded currency pairs are EUR / JPY, CAD / USD, EUR / USD, USD / JPY, etc.
We require a proof of identity and a proof of residence document from you. Proof of identity can be a valid passport, driving license, or national ID card. As proof of residence, we accept a utility bill or bank statement showing your full name and address that is dated within the last six months.
You can open an account in USD currencies only.
This is due to the obligatory ‘Know Your Client’ (KYC) procedures that we must follow, in accordance with the international Anti Money Laundering (AML) regulations.
We are a fully regulated broker, and therefore we do not offer bonuses for opening trading accounts.
We will disable your account if there is zero balance and no activity for more than three months. Unlike other brokers, we will not charge an admin fee for this, and we are able to reactivate it anytime you wish to resume your trading.