Opening a forex live account is the first step in trading forex for real. Some people may say that things can never be that easy because there are unaccountable brokers providing platforms for traders to open a forex live account. Forex traders need to complete their application and fund their account, which are all that they need to do. But things might not be as easy as they look. Perhaps we have heard of forex scams. For the safety of your account, traders should pay extra attention in opening a forex live account. I hereby summarize several tips to be noticed in opening a forex live account.
Tip No.1 on opening a forex live account: Choosing a reliable and regulated broker
Forex scams happen now and then, some happens because traders didn’t choose right brokers. There really exist such forex brokers who disappear with many reasons, which may lead to closing of a forex live account. In order to avoid such troubles, traders should open a forex live account with a reliable and regulated broker who conforms to the relevant governmental financial authorities’ rules and regulations, integrity and upholding the highest standards coupled with the duty to protect the customer’s funds such as IKON.
Tip No.2 on opening a forex live account: Choosing a stable forex platform
A stable forex platform is also an important element in deciding to open a forex live account; an unreliable platform may bring losses to a forex live account. So before choosing the forex platform, traders should first open a demo account to test the platform. A good forex platform provides traders with speedy but stable services. Many brokers provide forex demo account to traders. So traders have many choices at hand.
Tip No.3 on opening a forex live account: Don’t use the same information used in forex demo account
We all know that people’s information can be stolen by hacker, viruses or Trojan as I mentioned in another article. So for the security of traders’ account, traders should avoid using the same information such as password with the demo account when opening a forex live account.
Tip No.4 on opening a forex live account: Google for the best forex brokers
Many forex brokers announce that they are the best and have successful history in helping forex traders make profit. Just take a second thought on that. Time reveals things. People who have used services of brokers have a say in that. So before opening a forex live account, remember to Google for the best brokers and go around forums, blogs etc. to find the best.
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