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Open an Online Forex Trading Account

Thank you for your interest in opening a currency trading account with Sterling Financial. We are pleased to offer you access to the most liquid market in the world - FX.

Below you will find instructions on how to open a new FX account for the account type that you desire and the TRADING AGREEMENT (Account Application) as well. Please contact us with any questions regarding the account opening procedure or FX trading in general.

What Size Account Should I Open?

Sterling Financial offers both standard and mini accounts. Here are the guidelines to assist you with determining which account type is right for you:

Standard 100K Trading Account:

For experienced traders investing 10,000 USD in risk capital
Contract size of 100,000 currency units
Excellent liquidity and tight spreads for high-volume trading
Minimum initial deposit required to open the Standard 100K trading account with Sterling Financial is $3,000

Mini Trading Account:

For traders new to FX and investing under 3,000 USD in risk capital
Contract size of 10,000 currency units for greater risk management
Lower margin requirements to maximize your investment
1/10th the size of the Standard 100K account

Note: The minimum initial deposit required to open the Mini trading account with Sterling Financial is $300; However, this is not suggested. Trading currencies during times of heavy market volatility can be very risky if you are overexposed. Your account balance should compensate for market movements and any trading mistakes that you may make while learning to trade.

Opening an Individual FX Trading Account

STEP 1:

Please download the Adobe version of the TRADING AGREEMENT (Account Application) here. Complete pages 6-8 online, then print the completed pages when you are finished and add your signature where requested.

STEP 2:

Fax the completed application form along with all the necessary documents (see below) to our office at +971 4 2243271. Or, alternatively, you can submit the forms in person, or one of our account executives can collect the forms from your place.

STEP 3:

Once your application is approved, you will be contacted with the wire instructions to fund your new account.

STEP 4:

Once your account is funded, you can start trading using the online trading system. You will be given training and 24-hour support from our dealers and brokers.

In order to process your account application, we will need the following:

Copy of one form of government-issued identification (example: Driver's License, Passport, Social Security Card).
Copy of proof of residential address that is represented on account application (example: Utility Bill, Bank Statement). Please note that P.O. boxes will not be accepted as a residential address.

Note for Joint Accounts

Joint account holders will submit information as requested on the account application along with their own government-issued identification and proof of residential address.

Note For Individual Managed Accounts

If someone other than the account holder will be trading the account, you must also submit the Limited Power of Attorney form -- page 11 -- this will authorize your trader to trade on your behalf. Your trader will also need to submit an account application.

Funding Your Individual FX Account

Funding instructions are available here. Note that you will not receive an account number until you fund your account. Once funds are placed in a new account, you will be contacted via email with Login information. Please do NOT send funds until after your account forms have been received and processed by Sterling Financial Trading. You will be contacted via email within one business day of receiving your account forms to confirm that your new account is ready to be funded.

Futures Traders - Important Information For Futures Account Holders

Please Contact us to find out how you can transfer funds from your futures account to your FX trading account without paying wire fees to the bank.

Opening a Corporate FX Trading Account

The authorized individual (Corporation Director) must complete and sign all necessary pages of the Trading Agreement (Account Application).

Please download the Adobe version of the TRADING AGREEMENT (Account Application) here. Complete pages 6-10 online, then print the completed pages when you are finished and add your signature where requested.

In order to process your account application, we will need the following:

The Corporation's Director must submit a copy of one form of government-issued identification (example: Driver's License, Passport, Social Security Card).
Proof of Corporation's business address that is represented on account application (example: Utility Bill).Please note that P.O. boxes will not be accepted.
Corporate documents, including (a) Certificate of Incorporation and (b) Articles of Organization for the Corporation indicating authorized director(s) of the corporate entity.

Note For Corporate Managed Accounts

If the Director will not be trading the account, you must also submit the Limited Power of Attorney form -- page 11 -- this will authorize your trader to trade on your behalf. Your trader will also need to submit an account application.

Funding Your Corporate FX Account

Futures Traders - Important Information For Futures Account Holders

Please Contact us to find out how you can transfer funds from your futures account to your FX trading account without paying wire fees to the bank.

IMPORTANT INFORMATION TO ALL PROSPECTIVE CUSTOMERS

Sterling Financial clears all FX trades through Refco FX. RefcoFX is part of the Refco Group, one of the largest non-bank FCM's in the world. You will be interested to know that the Refco Group is a clearinghouse within multiple financial markets that executes 400 million trades per year for 250,000 customer accounts.

In an over-the-counter market like foreign exchange, not all participants have equal access to competitive pricing. The larger and more creditworthy an institution, the better its access to other market participants in the interbank market. The size of the Refco Group gives Sterling Financial traders access to Interbank prices that are not available to other market makers and makes the execution of your trades second to none.

We have chosen to clear your FX trades through RefcoFX because RefcoFX maintains complete price transparency, as well as narrow and fixed spreads, regardless of market conditions. Smaller market makers may be forced to widen their spreads or issue re-quotes during busy markets, but as a trader with Sterling Financial, because of our relationship with RefcoFX, you can be certain that your trades--large or small--will be executed at the price you enter on all market, stop, and limit orders. If you place a stop order, for instance, your order will be filled at the price entered--regardless of whether it is displayed on the dealing rates window or if the market gaps through the price.