Online Forex Trading Account: When you open a Forex account, always check. Many people will feel uncomfortable when they hear the term “test“.
However, with a good understanding of the screen, open spending is not difficult on its own.
In this blog, I will explain the important information about the test in opening an Online Forex Trading Account, the reasons for failing the test, the points to avoid passing the test, and so on.
What is the Online Forex Trading Account opening examination?
When you apply to open a Forex account, every Forex company and firm will do its assessment for opening an account.
This review is not meant to contact “certification agency information” such as credit card and credit card reviews.
The main purpose of the test for opening an Online Forex Trading Account is to “check” whether there is any discrepancy or accuracy of the content entered in the application.
Test items include age, occupation, equipment, and available resources.
Particular attention should be paid to whether there is any discrepancy between the application for address, name, age and personal identification.
Examination of opening an FX account is self-reported
The analysis of opening an Online Forex Trading Account is self-disclosure. You do not have to submit proof of income each year.
However, even if it is self-proclaimed, if there is a statement such as “use the entire annuity for investment”, there will be no Forex company that will pass the test accordingly.
In other words, because it is a self-assessment, it is important to examine how income and investment are balanced.
In an open-source FX analysis, there is no such thing as “good because of high income” or “bad because of low income”.
When opening a Forex account, we do not check whether the annual amount is large or small, but we check whether the annuity and the investment are equal.
Even if your annual income is low, you can open an Online Forex Trading Account if your investment is small and balanced.
In analyzing Forex trading in the open market, we are looking at whether the applicant is investing in “interest rates” rather than live investments.
Have you published the screening criteria for opening an FX account?
Many Forex companies do not announce screening procedures for opening an account.
This is because if the measurement process is over, many people can apply false positives to pass the test.
Even if you pass the test, you can still not know the cause. Yes, even if you contact the Forex company directly, it will not tell you.
However, according to the testimonies of many investors, it is said that if the ratio of assets and investments is not equal, it is easy to fail. money tests.
First of all, let us check whether the documents in the application are suitable for the budget and the investment budget.
A Forex company that completes the test in the early days
Depending on the Forex company, you can start trading after the inspection is completed early on.
It will take about 10 minutes to collect the personal information and submit the information, so if you are not sure if you will pass the test, you can apply more than once.
What are the points to avoid failing the examination when opening an FX account?
Another advantage that is easy to fail in the test is that you have too few assets.
For example, it looks like some Forex companies specifically declare that they have financial assets of XX million INR or more.
Regarding the value of the expenses, there will be no problem if the repayment is completed without delay.
If you have a home or a car loan, a scholarship or a mortgage loan, it does not matter if you have a stable income and income.
Under the circumstances, there is no way for Forex companies to analyze their investments.
Instead of examining our products, we are examining the myths that are the difference between the facts.
Usually, there is a lot of money, such as “100,000 INR to 1 million INR” when describing assets.
Have you created an account at a Forex company in the past?
It is not easy to notice in advance, but there are situations where you have opened an account with a Forex company in the past.
If you have created an account in the past, you can not open multiple accounts with the same Forex company.
For example, when opening an account for a Forex company plan, it is easy to forget the fact of opening an account.
There may not be many applicants, but if you have an idea, I recommend you check it out once.
What is the solution if you fail the examination when opening an FX account?
Even if you fail the Forex account opening examination, there is still a solution. Here, we will introduce the solution when you fail the examination.
Apply at another Forex company
Even if you do not complete the Forex review, we recommend that you request a review from another company.
Companies that fail the test for some reason will have less of an additional test even if they apply in the application.
Therefore, we propose to open FX accounts at offices rather than failing the exam.
By opening an account with several Forex companies, you can also avoid the risk of losing assets and trading.
If the details of the application are incomplete, try re-applying.
If you find that your application is incomplete, try again.
Depending on the Forex company, if there is a simple mistake in writing the application, it seems that they will contact you for confirmation.
If you see a large error or incompleteness on your own, it is possible that the inspection did not pass because of that, so please do it again.
However, if you are denied due to your salary or assets you have, you can disbelieve the change in content and you will be further denied.
Is it possible to open Forex accounts with multiple companies from the beginning?
There is no problem in applying for opening an account with multiple Forex companies from the beginning.
Therefore, instead of checking one company at a time, it is an option to apply for multiple applications at the beginning.
If you have only one account, you may not be able to respond to sudden changes in the market price or system errors, and you may lose your valuable assets.
Besides, having multiple Forex accounts has many advantages such as being able to obtain information on multiple markets and being able to use charts and tools unique to each Forex company.
We also recommend opening accounts for 3-4 companies from the beginning, regardless of whether the screening is successful or not.
If you are creating a Forex account for the first time, you should apply with these three companies suitable for beginners.
If you examine by opening an FX account, will you find out at your place of employment?
Some people may think that they will be able to find out at their place of employment by undergoing the Forex account opening examination.
However, in reality, it is unlikely that your employer will know about opening a Forex account.
The reason is that it is unlikely that a Forex company will confirm your enrollment with your employer.
In the case of loan screening, there are certainly cases where you will receive a phone call to confirm your enrollment at your place of employment.
However, when opening an FX account, basically you do not mail documents to your office or telephone to confirm your enrollment.
The reason why you need to fill in and enter the place of employment at the time of application is that you want to know the minimum information of the investor.
Of course, the size of the place of work does not affect the examination results.
Why is a review required to open an FX account?
The examination of opening an FX account is conducted for the following purposes.
- To prevent spoofing by a third party
- To prevent investing money that is not worth the income
- To prevent criminal use of the account
In other words, the main purpose of the examination is to prevent it from being used for fraudulent acts and crimes.
Besides, it can be said that a confirmatory examination is carried out to prevent the applicant from investing an amount that is not commensurate with the income.
By the way, you don’t have to give up the FX account opening examination just because the credit card or card loan examination does not pass.
This is because the Forex company does not have the authority to contact the credit bureau like those examinations.
How long does it take to open an Online Forex Trading Account?
Most Forex companies can open an account the next day at the earliest. Therefore, there is no need to be aware of the difference in the number of days until opening for each Forex company.
If you are in a hurry to open an account for some reason, please check the official homepage of each Forex company and try to find the Forex company that clearly states that it is the next day at the earliest.
There is something to note here. It means that “it cannot be examined and sent on Saturdays and Sundays.” Even if you apply on Friday, you will often not be able to open an account on Saturday, even if it is the shortest next day.
Please note that the market itself is not moving on Saturdays and Sundays, and FX trading is not possible in the first place.
Let’s apply without giving up even if you fail the examination
So far, I have explained the basic information about the examination of opening an FX account, the reason why it is easy to fail the examination, the points to avoid failing the examination, etc.
If you fail the review, it doesn’t matter in itself. The problem is that one company gives up the application.
There is a good chance that you will pass the examination by reapplying based on the points explained this time or applying at another Forex company.
Especially for those who are new to open a Forex account, please try to reapply.
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