Guide on How to Create a trading account for South African traders

By: Chime Amara

There are various procedures one needs to follow to create a trading account. The following guide will help the trader to do so without stress.

Step by step procedure on how to create a trading account

Step 1: Choose your preferred broker: This is the first thing every trader needs to do. Brokers are not to be chosen hastily without proper investigations. This is because one's capital is at risk if one chooses the wrong broker. Only regulated brokers with years of experience in the industry are recommended from the list. To get help in choosing the best broker, it is necessary to visit Wikifx's website to choose from their list of approved brokers. Simply go to playstore and download the Wikifx app on your phone.

Step 2: Visit the broker's website and click on registration: This is the second step after one has found a reliable broker. On getting to the broker's website, a registration option is provided. You will have to click on this link and fill out the form provided. Here, you will have to enter the following details: Full names, phone number, address, email, and other personal information that may be requested.

Step 3: Email and phone number verification: After filling in one's details, a confirmation code will be sent to your email and phone number to verify you are the owners. You will have to login into your email and click on the link sent to you.

Step 4: Upload your identity card: After your email is verified, you will have to complete your identity verification process by uploading your identity documents. The broker will review this to confirm they are genuine. Your trading account details will be sent to you once approved.

Step 5: Fund your account: Once your account has been approved, you can proceed to fund it using any of the deposit options provided by the broker.

Step 6: Login into your Meta Trader 4 (MT4): This is the final step after one's account has been funded. You will need to login into the MT4 using the login details sent to you by the broker and begin your live trading.