If the amount of funds is large, you can go to the bank to make a firm offer, but the cost of the firm offer is too high for the general public to accept and the cost is high. Nowadays, foreign exchange speculation is more popular on the platform of foreign exchange dealers, because there is no foreign exchange platform in China at present, and basically some domestic companies are acting as agents for foreign countries. If investors want to speculate in foreign exchange to open an account, they should first find a formal and strictly regulated (NFA in the United States or FSA in the United Kingdom is more strictly regulated) foreign exchange dealer or his agent to open an account according to his designated process and support remote account opening. Remittance must be remitted to the account designated by a third party of a foreign distributor, and not to the account of a domestic agent. The agency's responsibility is only to find customers for the development of dealers, and the agent has no right to contact any funds of investors.
Foreign exchange trading can be opened in many places, but whether you choose a foreign exchange dealer or a broker, you must follow the following principles:
First, it is necessary to supervise the dealers who provide accounts, generally FSA supervision.
Second, deposits and withdrawals must be made in US dollars. Deposit and withdrawal of RMB is illegal because it involves foreign exchange transactions.
Third, the platform must not have too many negative effects. Good reputation.
Fourth, there is no extra commission, only the original spread.
Fifth, the platform is stable, the online rate is high and the family rate is high.
Information required for opening a foreign exchange account:
1, the first thing to open a foreign exchange account is to provide a photo of your ID card. The function is very simple, that is, to prove identity and to prove real existence. If money laundering is involved, it can be traced back to the ID card.
2. Secondly, to open a foreign exchange account, you must provide proof of address. What is the address certificate for? It's simple. The law of foreigners requires that since financial companies have money to enter, they must have channels for capital to return. Foreigners are used to using checks, and the proof of address is used by financial companies to send checks, which means that financial companies have a way to return the money. It is often inconvenient for speculators in China to provide proof of address. In fact, they can use bank cards instead. With a bank card, it means that the financial company can return the money to you through the bank card. This requires that bank cards can accept remittance in US dollars. Most bank cards can accept remittance in US dollars. Therefore, for domestic speculators, the most convenient way is to provide ID cards and bank card photos. Then your supporting documents are almost enough.
3. A signature document is required to open a foreign exchange account again. The signature file is one of the most important guarantees, and it plays a key role in withdrawing money, changing account rules, email and so on. A signature file usually includes three parts: a common signature, a block letter signature, and a block letter signature is only used to identify the signature, with no other functions, and a date. It's best to sign the date, it's hard for others to imitate the date. Some black-hearted IB will forge customers' signatures, which will set a great obstacle to better accounts in the future.
4. email address. E-mail is actually the most important document for opening a foreign exchange account. You must only provide your own email address, and you must not provide your password to IB. Only the account notification received by the mailbox can be recognized, but the account notification given by IB cannot be recognized. If the signature is forged by IB and the email password is controlled by IB, it will be over, and the account has basically no authority. So be sure to firmly control the mailbox. For traders, IB is just his sales staff, and traders are responsible to customers. They only know the mailbox. All account changes are done through email. If the mailbox is lost, it needs to be changed by signature.
5. Risk warning. This is an official document, and it is the law of the United States. Financial traders must inform traders of the risks. This is a purely official document and can be signed by IB.