If you are opening a demo account, you’ll only have to input your email address, name, and provide a password. If you’re opening a live account, things are a little more complicated.

First, you will have to fill in some personal information, including your address and phone number, your net worth, your income, how much you expect to trade, and more.

In some cases, you will have to answer some questions about forex trading so the broker can determine how much you know. If you can’t answer, or get the answers wrong, some legit forex brokers will refuse to open a live account for you.

Once you get past this stage, you will have to provide proof of identity and address, which usually means uploading two official documents, one of which must include your name and address, while the other must include your name and photo. These can be your passport, national ID card, driver’s license, and/or utility bill. For example, you can upload your driver’s license and your national ID card, or your national ID card and a utility bill.

The broker will then check your documents and if everything is in order, they’ll open the account for you. At this point, you can make a deposit, and once the funds become available, you can start trading.