How to open a RoboForex account
Are you ready to start earning on financial markets? No matter what asset you are interested in, Forex, Stocks, the first thing you have to do as a trader is to register a Members Area and open a trading account.
This page offers you instructions for forex beginners on how to open your first trading account along with recommendations that may help to choose the most suitable parameters for it.
Opportunities of Members Area
Managing accounts
Depositing/withdrawing funds
Accessing transaction history
Investing
Studying new instruments
What trading platform do I choose?
Before you open a trading account and start your journey to the financial markets, you have to choose any trader’s key tool, a trading terminal.
The most popular
- A user-friendly trading platform with a great deal of educational materials.
- Intuitive interface.
- The terminal is available on any devices: there are desktop, mobile, and web-based versions.
- A built-in shop offers a lot of ready-to-use Expert Advisors to buy.
Updated MT4
- A promising platform, which becomes more and more interesting among traders.
- A simplified system for testing trading strategies.
- Intuitive and user-friendly interface.
Terminal from RoboForex
- Access to all major financial markets using a familiar browser.
- Creating trading robots with the help of built-in trading strategy builder, which requires no programming skills.
- "One-Click Trading" feature to save your time and simplify the position opening procedure.
What account type should a beginner choose?
After choosing the terminal, you need to decide on an account type.
To gain necessary trading experience without incurring any expenses, open a demo account. Trading operations on this account type are performed using virtual funds. If you chose to trade through MT4 and MT5 platforms, you have 2 available options, Demo ECN or Demo Pro. However, if you want to open a real account but not ready yet to trade big money, you can start with a ProCent account, which is also available in MT4 and MT5 platforms.
Demo ECN
Demo is more often used for testing trading strategies by experienced traders.
Demo Pro
Demo Pro is created especially for beginners with less than 1 year of trading experience.
ProCent
ProCent account provides a trader with access to transactions with small sums of money, because the monetary unit of this account type a cent (0.01 USD). To start trading, 10 USD on your account will be suffice.
What currency to choose for opening an account?
It’s better for forex beginners to open their first trading account in one of the most popular global currencies. After gaining enough trading experience, you can choose some other base currency for your new trading account.
USD
The American Dollar is the most popular base currency for trading on financial markets. Another advantage of accounts with the USD as their base currency is that this currency is an example in most educational courses and tutorials on trading.
EUR
EUR as a base currency is very convenient for the European Union residents as they can always deposit funds and withdraw their profit without any additional conversions. Nevertheless, this currency is not as less common as the USD.
What is the leverage?
The leverage is a chance to expand your trading opportunities using borrowed funds. As a rule, its value reflects the ratio between your own and borrowed funds. For example, the leverage value 1:5 means that you can trade 5 times more money than the amount of funds you invested.
When trading on Demo accounts, you can choose the maximum permissible leverage value up to 1:2000 and assess all opportunities provided by borrowed funds. When it comes to real accounts, forex beginners aren’t recommended to use the leverage value higher than 1:100.
Have you found answers to all your questions? Excellent!
So, it means that you’ve chosen a type of your first trading account, its base currency, and a proper trading platform.
Congratulations!
To start trading, download the terminal you chose before and start gaining your first trading experience together with RoboForex!
How do I deposit funds to my account?
Login to your Members Area and go to
- Funds
management - Deposit/Withdrawal
- Deposit funds
Choose a convenient payment system and make a payment.
The deposited funds will be displayed in "My accounts" section and the trading terminal interface.
How much money do I need to start trading?
To start trading, it will be enough to deposit the minimum required amount, which is 10 USD. However, if you want to get sizable profit, this sum won’t be enough. The maximum recommended amount of funds to be deposited in trading in the first stage may be 20% of all your financial savings. It’s ot wise to invest more than that until you get stable trading skills and experience.
Why do I have to verify my account?
The verification procedure is intended for increasing the protection level of your funds and Members Area. This procedure a compulsory condition to start working with RoboForex. In addition to that, those clients who confirm their personal data will receive "Welcome bonus" and monthly payments up to 10% on account balance, may join "Cashback (Rebates)" program, and order a free VPS server for their Expert Advisors.
More questions?
FAQ
Answers to the frequently asked questions.
How to start trading on the Forex market?
Experts share their experience with forex beginners.
Client support
RoboForex staff is ready to answer your question over the phone, messengers, or online chat in “Ask a question” window.
- How to open an account
- What is Members Area for?
- Which trading platform do I choose?
- What account type should a beginner choose?
- What currency to choose for opening an account?
- What is the leverage?
- How do I deposit funds to my account?
- How much money do I need to start trading?
- Why do I have to verify my account?