Openmarkets Account Types

Openmarkets offers a variety of account types to cater to different trading needs. The primary account types include:

• Standard Trading Account: This account allows traders to access a wide range of financial instruments including equities, managed investment schemes, bonds, and derivatives. It is designed for both retail and wholesale clients, offering competitive spreads and a feature-rich trading platform.

• Demo Account: Openmarkets provides a demo account that allows traders to practice trading in a simulated environment using virtual funds. This account is ideal for beginners who want to familiarize themselves with the trading platform and develop their trading strategies without financial risk.

• Managed Accounts: For clients looking for a more hands-off approach, Openmarkets offers managed accounts where investment decisions are made by professional portfolio managers. This service includes automated rebalancing technology and compliance reporting.

• International Trading Accounts: Openmarkets may arrange for execution, clearing, and settlement services in international markets through an international broker, allowing clients to trade global securities.

Openmarkets Broker Account Opening Process

Opening an account with Openmarkets is a straightforward process that can be completed in a few simple steps:

• Choose Your Account Type: Decide which type of account suits your trading needs, whether it's a standard trading account, demo account, or managed account.

• Complete the Application: Fill out the Openmarkets account application form, providing necessary personal information such as your name, address, date of birth, and identification documents.

• Document Verification: Openmarkets will verify your identity and other KYC (Know Your Customer) documents. This process typically takes 1-3 days for live accounts, while a demo account can be set up almost instantly.

• Fund Your Account: After your account is approved, you will need to fund it. The minimum deposit required is $100 USD/GBP/EUR. You can fund your account via bank transfer or other accepted payment methods.

• Start Trading: Once your account is funded, you can access the Openmarkets trading platform and begin trading a wide range of financial instruments.

By following these steps, you can quickly set up your Openmarkets trading account and start your investment journey.