Binary Options Account Creation
So you've read attentively all the useful information regarding a search of a trustworthy brokerage company. You've found a reliable financially stable broker offering high payouts, a variety of assets and trading instruments as well as comfortable fast and secure platform. Congratulations! The time of uncertainty and doubts are behind. However, now you're going to open your binary options account and you're full of questions again. This process seems to be easy, but there're also some nuances related to the activation of a trading account that just have to be taken into consideration. We'll discuss them right now. Keep reading this article.
Initial Account Requirements
The information you need to type in via a registration form during your signing up process is always the same even by different brokers one way or the other. You state your full name, country of residence, email, currency preferred for a future trading sessions, password and a preferable payment method. You could be also asked to type in your phone number, so the broker's support team representative could contact you for a confirmation of your identity. By the way, the phone support is becoming more and more popular these days. Many traders prefer this communication way themselves calling it the fastest and the most convenient for user in order to receive all needed information or to solve the urgent problem. Sometimes you can also see the requirement of typing in the actual payment information while you're signing up. To be honest, it's not a widespread broker's request because many traders would like to start their online investing experience with a demo account first (we, incidentally, find this decision an absolutely right choice).
Demo Accounts and Real-Money Binary Options Account
At the beginning of your journey through the world of binary options you have an opportunity to activate demo account or a real-money binary options account. We will never stop saying that we strongly recommend you to begin your familiarity with this industry in the whole and the certain trading platform in particular with a demo account. This is really a comfortable and safe method of having some practice before investing your real money in professional trades as well as to give different trading strategies a try.
Every trustworthy brokerage company with a good reputation has its own measures of security when it comes to a verification of users' accounts. We surely expect that such a company adheres to the highest standards and the strictest policies in order to protect investors' money and prevent the money fraud or the identity theft. So what are these commonly used protection measures? First of all, under-age people are not allowed to be involved in trading, the trades are prohibited for them. Besides, you'll probably receive a request from a broker to complete a verification process of your account by sending a scanned image of one of your personal documents (it can be passport, id or a driver’s license) or your own photo, etc. We know, how much do some traders hate this long and dull verification process, but, listen, it's still the best possible way to protect your personal data as well as your money. So by asking you for another verification step, your broker is acting in your best interests.
Drawing a Conclusion
The duration of the registration process by modern brokerage companies operating in binary options industry isn't as long as some inexperienced newcomers complain about. Depending on broker you've chosen, it could take you from a couple of minutes to a few hours. Sometimes the application will be approved in several business days. Don't consider even the long awaiting time as a disadvantage of your broker though. The more thorough it processes your information, the more protected your personal information as well as your funds are. It's better to wait a little bit while launching a binary options account than to have some serious problems in future, isn't it?..
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