How to Register Forex on Android | Many people today set up a business using a laptop or smartphone to make a lot of money. Not only can you earn in rupiah, but also in US dollars and millions of dollars. The ability to do business anywhere and anytime is now even possible online with a company called FX trading .
There are currently two different platforms for buying and selling transactions in the currency trading industry. The systems used for internet transactions include MT4 and MT5. You have to do market analysis work and order instructions so that transactions can be done automatically. Of course, this is very helpful for you as a trader.
How to Register Forex on Android for Forex Trading
You must first register and create an account to participate in this trading business. After that, you will receive instructions on how to make transactions so that you can avoid the risk of business failure. This forex trading account can be easily, quickly, and practically registered on the internet. The steps to creating an account are listed below.
1. Choose the Right Forex Broker
The first thing you need to do is decide what type of forex broker you will work with in the future. To get started, you can look for the best forex brokers on the internet or at other trusted places. In order to feel safe during transactions, use the form of a forex broker that has been properly registered in the country or BAPPEBTI.
In addition, you must ensure that the type of forex broker you choose has a website in Indonesian. Because it will be difficult for you to run a business if you speak a foreign language, You should open a forex trading account with a regional dealer such as OCTA Investama Berjangka or HFX International Futures.
2. Create Account and Confirm After Registration
You can select the ” list” menu as soon as you enter the suggested website. You can open it by selecting the menu ” open account” as well. After that, you fill out the form on the internet correctly. Your phone number, email address, or social media username must also be verified.
The broker will send the ID or username and password needed to login after completing the confirmation process. When a client does business with a forex broker , the login is connected to the client login area. As is common knowledge, the information entered in the previous form must have a real email address or phone number to be able to enter.
3. Verify Forex Trading Account
Verification comes next once you log in and access the client section of the website using the official address. You have to look for the menu in the client area to do this verification. On the official page, please select “account verification” from the available menu. Important information, such as ID cards, must also be ready to validate your account.
You can verify using a SIM card or passport in addition to your ID card. A copy of your proof of address document must also be presented. A copy is located on the front of your utility bill or passbook. Some forex brokers request a scan of this information. Some forex brokers, on the other hand, only want data in the form of images.
Also read: The best Forex trading strategies
4. Waiting for Account Verification Results
After submitting the required documents, the next step is just waiting for the verification results. While waiting for the verification procedure to be completed, you can immediately wait up to 2 days. A notification from a forex broker providing details about a successful verification will be sent to your email address when your verification is successful.
However, you should contact the forex broker if you have waited for the maximum time and have not received the verification notification. To speed up the verification procedure, you can call the forex broker’s customer support number. Until you make a capital deposit, you can immediately open an account if the verification process has been completed and accepted.
5. Open a New Account
You must now enter your previous username and password to access the client area. You then select “create new account” from the menu on the page. You will then be given instructions to fill out a short form. The type of trading account that will be opened later should also be selected, as you will be advised to do so. In addition, the type of currency used must be entered.
You will then receive a second email notification informing you that your account has successfully entered the client area. You will be given instructions on how to download the platform and how to enter your login information, including your name, server address, username, and password. To ensure that the information is saved in case you forget it when you log in, you must complete and record all the required fields.
6. Depositing Initial Capital
If you choose to invest in forex trading, the next step is to deposit money. Because if you don’t put money into the investment, it will not work and will be rejected. All you have to do to save money in a forex trading account is find the deposit menu or deposit money. Also, you should be able to assign the modified capital to an accepted payment method.
You must transfer money according to the conditions specified in your FX trading account. You only need to proceed to the next stage after the capital you have successfully deposited has been successfully transferred to your trading account.
7. Start trading online
The final step in creating a trading account is to download the platform from the link provided. Install the program on your PC or smartphone. You can start making transactions on it immediately after logging in. You can also track other transactions that have been completed immediately online.
How to Use Android to Play Forex Trading
FX trading usually involves traders making online transactions. Better yet, you can keep an eye on currency exchange rates throughout the day. Transactions can be done automatically. You can also quickly open and close deals for significant and profitable profits.
1. Installing Metatrader
Installing the Metatrader app is the first step in using a smartphone to trade currencies. This application is the most effective and widely used internet trading instrument. The Metatrader application is available on the PlayStore for smartphones.
You download the program to completion and then install it. You then launch the app. The app will then display a page with login instructions. The Metatrader app makes playing very simple and fast.
2. Access Trading Account
You need to log in to your trading account as follows. You may be confused about what to do on a website when you first log in as a beginner. Even your knowledge of form fields is still lacking.
The trick is that there are several fields on the page that you must fill in, including the name of the forex broker and other orders that must be entered into several fields. If you signed up early and don’t have an account yet, you can use a demo account in the app.
3. Take Advantage of Various Features
There are some great features available when you trade forex on an Android smartphone. You will find the features quite interesting to use. Every feature is available for use with the aim of increasing your profit in each transaction round.
The more functions you can perform, the more benefits you will enjoy. By continuing to learn on our website, you will also become more knowledgeable in the world of investment and other industries. Trade, history, and charting are some of the features offered.
4. Technical Evaluation
The next forex trading method is to use existing smartphone applications for technical analysis. The available charts have this technical analysis. You start by opening the chart. Then you complete the various indicators that your account will need in the future.
You will then see this indicator. However, using an Android smartphone to search for these indicators will make it more challenging. This is because not all Android indicators can be installed, unlike what you receive when playing on a laptop.
5. Choose when to Buy and Sell
You only need to try to buy and sell when you already have a trading strategy. You can close at a certain price that you believe has increased enough from the initial price. To place a buy or sell order, all you have to do is click on the icon with the plus sign.
Also Read: How to Trade Forex with 100 Euros
6. Calculate and Perform Cut Loss
Once you have placed several orders and made a sizable profit, you can reduce the losses manually. You only need to open the available trade tab to make this cut loss. Then, all you have to do is click on the trade location if you want to close it. You then send a closing instruction requesting the closing details.
7. Take advantage of multiple logins
You can use a special technique known as “multiple logins” when you have multiple trading accounts. This way, you can benefit from things across your entire account. By taking advantage of the many accounts that are already available, you can also advance your investment company.
For those of you who are new to forex trading, the reviews above are some explanations about how to register forex on Android. The registration process described above can make trading easier for you.
In addition, there are instructions on how to trade forex on an Android smartphone that prevent you from losing a lot of money while trading forex.