Once you've found a trading platform you like, you'll need to open an account, verify your identity, make a deposit and, of course, place a trade. Below, we'll walk you through the set-up process with our top-rated trading platform Capital.com - which should take no more than 10 minutes from start to finish.
Step 1: Register an account
You first need to open an account on the https://exnesslatam.com/forex-trading/ website. You can do this online or via your mobile web browser. This is a standard account opening process that requires some personal information from you, such as your name, location, date of birth and contact details.
Step 2: Verify your identity
As a regulated trading platform, Exness needs to verify your identity. This shouldn't take more than a few minutes as the platform can usually verify documents instantly.
You will need to upload a copy of your passport or driving licence and a document confirming your home address. This can be a utility bill or a bank statement at Capital.com. Digital copies are also accepted.
Step 3: Make a deposit
You can fund your account instantly if you choose one of the following payment methods:
- Visa
- MasterCard
- Paypal
- Skrill
- Neteller
Capital.com also supports local bank transfers, but processing can take anywhere from a few hours to a few days.
Step 4: Find a trading market
Once your deposit has been credited, you can start trading. Exness hosts thousands of markets for stocks, ETFs, indices, cryptocurrencies, commodities and forex.
You can browse these markets by clicking on the "Markets" button. If you already know which market you want to trade, enter it in the search box. Then click on the "Trade" button. In our example, we will search for Mastercard.
Step 5: Place a trade
An order box will now appear on the screen. Here you will need to enter the specifics of your trade.
First, you need to choose from a buy or sell order. By default, Exness sets the box to a buy order, which means you believe the value of the asset will go up. However, if you want to go short, you need to change this to a sell order.
In our example, we want to invest in MasterCard shares for the long term, so we leave this set as a buy order. We also avoid entering leverage so that we own the shares outright.
You then need to enter your stake in US dollars. We opt for the minimum, which is $50. The minimum at Capital.com is reduced to $25 if you are trading crypto.
To enter our position, we click the 'Open Trade' button. And that's it, our commission-free trade is confirmed!
Note: It is also advisable to set up a stop loss and take profit order. This ensures that you have a clear strategy and trade risk-averse.
