It is easy and secure to open a Nostro Bank account. Initially, you can choose to open a practice, free demo account. However, if you’re ready to trade, you can make a deposit and open a Live Account. Based on how you would like to fund your account, there are three types of account available, but once you begin trading, there is the option to move from one account type to another.
You will need to fill out a short registration form for any Live Account that you want to open. Legal documentation is required by regulation in order to provide proof of your identity. As soon as your identity has been confirmed, all you need to do is download the platform you want to trade on, make a deposit to fund your account, and then you’re ready to start trading.
Three kinds of accounts are offered by Nostro Bank:
Mini Account – beginning at $500 USD.
Classic Account – beginning at $5000 USD.
Premium Account – beginning at $20,000 USD.
There are a variety of different platforms available from Nostro Bank to meet the requirements of different traders with different circumstances.
Nostro MetaTrader 4 – Download this popular, world-renowned Forex desktop platform if you predominately trade in foreign currencies. It is both user-friendly and state-of-the-art.
Nostro Mobile – this solution provides apps for Android, tablets, and iPhone, enabling traders to trade form anywhere in the world, from a variety of devices.
You are requested to give the following information for proof of identity upon registration:
A certified, original copy of your passport or ID.
A utility bill with proof of your mailing address.
You will need to clearly indicate the beneficiary name on the Nostro Bank Customer Agreement. It is important that the account beneficiary name corresponds to the name on the customer agreement form, and also the documents for proof of identity. In addition, if you wish to withdraw funds, it must be to the same beneficiary.
The stop loss order and the limit order are the most common risk management tools in Forex trading. A limit order stets a restriction on the minimum price to be received or the maximum price to be paid. An automatic liquidation at a predetermined price for a particular position is called a stop loss. This is used to limit potential losses if the market moves against an investor’s position.