You might have heard that investing in Forex Trading is dangerous and risky. But the real fact is investing in anything with a lack of knowledge is dangerous and risky. So, if you gain proper knowledge before you step into the trading pool, then you are most likely to earn a profit. You will find the right opportunities to invest in the trading market with BYFX Global. They are the subsidiary of the leading Online Financial Conglomerate of Japan, i.e. SBI Group.
So, if you want to be a part of the community of traders, then you need to create an IB account. The process of creating an account is very simple. It will take only a few minutes and all you need to do is:
Step 1: Visit the official website of BYFX Global and click on the Open Account option or the Sign-Up button.
Step 2: You will be redirected to the client portal where you’ll need to fill an online application with some personal details in it. Don’t worry; the portal is completely secure.
Step 3: Once you have provided the details, upload a personal identity proof and residential address documents for verification.
Step 4: At last, when you Forex Trading account is verified and approved, you will be able to transfer funds into your account online.
And that’s it; you are all set for trading. If you are a foreign resident, then you need to go through the policies and terms and conditions specified by the company. The company has strict rules to avoid disputes between the client and the service.
Who Can Open a Trading Account with BYFX Global?
If you are one of the client’s from eligible jurisdictions, then you can open an account with BYFX Global. However, you have to fulfill some requirements means you need the following documents to open an account with BYFX Global:
- You need BYFX Global account opening form that should be completed and also, signed.
- You need identity proof and it can be a national identity card, passport or driving license. The ID or identification document should be issued by the government.
- You should have address proof i.e. residential verification which must display your full name, along with the address.
- You must also have back card copy displaying back card number, along with client name.
- Last, you should have a clear image or picture of your ID.
Unfortunately, BYFX Global doesn’t acknowledge clients from the US and also, sanctioned countries in obedience with Money Laundering Regulations at the Cayman Islands.
Before you create an IB account must know what you are getting into. Every trader wants to be secure while he/she is getting introduced to the trading world. Being a trader is not that easy. Five rules that you need to follow in trading are:
- Cut the losses
- Ride the Winners
- Keep your bets small
- Follow the rules without questioning them
- And know when you need to break the rules.
Trading Market is always changing, and it is your failures that can help you to learn as much as possible.