Hi everyone. Just recently, Jude from the No Bullshit Forex Blog casually remarked if I’d like to share with everyone the steps necessary to get involved in GalleonFX’s Managed Forex Account offering. I decided to take him up on his suggestion, so this post is what resulted. I am basically going to make this a “step-by-step guide”. So here it goes:
Step 1 (the most important one): Visit the GalleonFX website and open up an account by clicking the appropriately titled “Open Account” button. Then Click on the “Register” link and fill in the necessary info.
Step 2: Now that you’re registered, log into GalleonFX’s website and click once again on the “Open Account” button in the left-side menu. Now you are going to be presented with the various available account types.
Step 3: Decide whether you want to open a EURO or USD denominated account. Next click on the “FXCM (NY US) Open Account” link. Don’t worry about the fact that it says US. You’ll still be able to fund your account with Euros.
Step 4: After having followed step 3 you should now be staring at a “FXCN NY Account Opening Procedure” page. You’re half way through the ordeal so hang in there :)
Step 5: This next step is the one that is going to take up the majority of your time. You need to send paperwork to both GalleonFX and FXCM, which is their chosen broker. So, all you have to do is just follow both the “Galleon Procedure” and the “FXCM Procedure” listed on that account opening page.
Step 6: Once you’ve opened your account with FXCM, sent the necessary paperwork via e-mail or fax, you’re now going to obviously want to fund your account. You should have received an e-mail from FXCM with account funding instructions, so just follow the direction provided therein. Here are the various funding options provided by FXCM:
US Customers: Online Check (ACH Transfer), Credit & Debit ($10,000 max), Bank Wire (USD Only), and of course the plain old fashion Paper Check.
International Customers: Credit & Debit ($10,000 max), Bank Wire (USD & Foreign Currency), Paper Check.
Step 7: Sit back and watch the profits roll. Well, don’t start dreaming of riches just yet. Remember that even though Forex trading can be extremely profitable it can also be extremely risky.
All interested parties should visit the GalleonFX website to get started.
I hope this tutorial has been or will be of some help to you. Cheers!