There are thousands of brokers on forex brokerage platforms worldwide, and their qualifications vary greatly. If we want to find a legitimate broker to trade foreign exchange, we must be cautious when looking for a broker to avoid being deceived by black platforms. You can refer to the following content to open an account with a broker:
1. Legitimate international retail forex brokers will display their regulatory information on their official websites. In which country is it registered, is it regulated by the financial regulatory authorities of the registered country, is the regulatory license type STP direct license, retail foreign exchange license, or MM full license, which are three qualified licenses, and the number of the regulatory license. It is also necessary to display registration information, such as the name of the registered company entity, registered address, registration time, validity period, etc. Attention: Do not choose brokers with unqualified license types, and do not choose offshore regulators whose registered business office is located in a country other than the one under supervision.
2. Next, we will enter the official website of the regulatory authorities in this country. Enter the regulatory number and registered company entity name to check if this broker truly exists. Is the registered information consistent and within the validity period. Whether the regulatory information is consistent, etc. If there are no problems with these, then theoretically it is a legitimate international retail broker.
3. It is best to have platforms registered and operated by regulatory and national authorities such as the UK FCA, Australia ASIC, Ireland CBI, Japan FSA, and South Africa FSCA in the country where the broker is located. It is best to have an old platform that has been in operation for more than 10 years. The longer the old platform has been in operation, the better the user experience and reputation, and everyone is willing to support and support it for a long time.
Opening an account is very simple. We will prepare photos of the front and back of the account holder's ID card, as well as their registered mobile phone, email, and bank card. Then we go to the broker's official website, click on Register Real Account, and follow the required steps to register:
1. Fill in the required information for account opening, and the required information must be true and valid.
2. Conduct a truthful risk assessment Q&A survey, read and sign the risk disclosure letter.
3. Choose whether to use an MT4 account or an MT5 account, set a password, and complete the registration.
4. Download the MT4 or MT5 trading platform, log in to your account, familiarize yourself with the functions and contract details of the trading platform, and also do simulation exercises.
5. Upload photos of the front and back of the account holder's ID card and wait for the platform's real name authentication. After passing, you can proceed with deposit trading.
The conditions for opening an account are as follows:
1. Age above 18 years old.
2. Legitimate identity, with stable and legitimate sources of income.
3. Be aware of market risks, have a certain level of risk tolerance, and can be responsible for their own profits and losses.
4. Can analyze and trade independently.
5. If you don't know how to analyze and trade, you need to do simulations first, learn trading methods and related basic knowledge, and then consider trying real trading with small funds and light positions in the future.
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Kind reminder: Investment carries risks, so choose with caution.After reading the above content, everyone should have a clear understanding of "which platform is the most legitimate for forex trading and what are the restrictions?" I hope it is helpful to everyone. If you want to learn more about "which platform is the most legitimate for forex trading and what are the restrictions?", please follow Dawang Finance website. We will provide you with professional answers and assistance.