What you'll need
- ID: a national ID card or passport. Make sure it's valid and the photo is clear.
- Proof of address: usually a bank statement or utility bill from the last few months, in your name.
- Your phone and email, for two-factor login.
- Sometimes a selfie or short video for identity checks, and questions about your income and trading experience.
Step by step
- Open the broker's site yourself. Type the address or use a link from a page you trust. Fake broker sites and copy-cat apps are common.
- Check which entity you're signing up with. The registration page or client agreement names the company. In South Africa or Kenya, choose the locally licensed entity if the broker offers one.
- Choose the account type. Standard or "cent" accounts suit beginners. Raw/ECN accounts have lower spreads but charge commission.
- Choose your account currency. If the broker offers ZAR, KES or NGN and you'll fund in that currency, you avoid conversion fees.
- Choose leverage carefully. Lower is safer. You can usually change it later.
- Upload your documents. Use the same full name everywhere. Verification usually takes minutes to a day or two.
- Turn on two-factor authentication.
- Practise on a demo first, then make a small deposit and test a withdrawal.
Why brokers ask for all this: anti-money-laundering rules require it. A broker that lets you trade large amounts without any verification is a warning sign, not a convenience.
FAQ
Can I open an account without proof of address?
Most licensed brokers need it before your first withdrawal. Some let you deposit first, but verify straight away so withdrawals aren't held up.
Can I have accounts with more than one broker?
Yes. Many traders keep two, which also helps if one broker has problems.
Why was my verification rejected?
Usually a blurry photo, an expired document, an old proof of address, or a name that doesn't match. Fix it and resubmit.
This guide is general information, not financial advice.