1. Select an account bank: before entering "personal foreign exchange trading", select an account bank according to personal preference, and enter personal foreign exchange trading to open an account.

2. Opening an account and depositing foreign exchange: I open a foreign exchange trading account in a bank with a valid identity certificate, sign a personal firm foreign exchange trading agreement, deposit foreign exchange, or transfer the existing cash account deposit to a bank that offers personal foreign exchange trading business; Handle the account opening procedures for online transactions and telephone entrusted transactions.

If over-the-counter transactions are adopted, there is no limit on the initial amount of accounts opened by Bank of China and Bank of Communications, and the initial amount of accounts opened by Industrial and Commercial Bank of China and China Construction Bank is USD 50. For telephone transactions, the starting amount for opening an account for Bank of Communications is USD 300 equivalent in foreign currency, and that for ICBC is USD 100 equivalent in foreign currency.

3. Determine the trading strategy and make the trading plan.

4. Establish a daily source of foreign exchange information: for example, non-professional foreign exchange investors: it is recommended to join a special portal to become a free member. Investors who have too much money to operate by themselves can entrust professional companies and traders to manage your foreign exchange assets, saving time and effort and enjoying the benefits of investment.

Extended data:

Characteristics of foreign exchange transactions:

1, long trading time: due to the 24-hour continuous operation of the global foreign exchange market, foreign exchange trading hours is the longest. As long as the bank can provide services, individual residents can conduct 24-hour foreign exchange transactions.

2. The exchange rate fluctuates greatly: because the current global exchange rate system is mainly floating exchange rate, and the international foreign exchange market is affected by various international political and economic factors and various emergencies, exchange rate fluctuation has become a normal phenomenon, and sometimes even fluctuates greatly. There is no limit to exchange rate fluctuations in the international foreign exchange market. Exchange rate fluctuation brings opportunities and risks to personal foreign exchange trading business.

3. Diversified and flexible trading methods: At present, personal foreign exchange trading can be conducted through bank counter service personnel, telephone or self-service trading equipment.

4. The currencies bought and sold are all freely convertible currencies: since the US dollar is the medium currency for transactions in the international foreign exchange market, most foreign exchange transactions involve the US dollar, such as US dollar/Japanese yen, Euro/US dollar, British pound/US dollar and US dollar/Swiss franc. After the advent of the euro, the transactions between the euro and major convertible currencies have attracted more and more attention from the market.

5. The bid-ask quotation is the same as the international practice: the bank expands the bid-ask spread (bid-ask spread) on the basis of the real-time exchange rate in the international foreign exchange market (the bid-ask spread quoted in the international foreign exchange market is bilateral, and the bid-ask spread quoted by the bank at the same time is about 5 basic points under normal circumstances, and the bid-ask spread is a part of the bank's profit), which leads to the personal bid-ask spread of foreign exchange, which changes with the international foreign exchange market.

6. Short settlement time of funds: multiple reverse transactions can be conducted on the same day, and the value date adopts T+0 method, that is, individual residents can sell (buy) the currency they bought (sold) on the same day, and the number of transactions is not limited.

Baidu Encyclopedia-Personal Foreign Exchange Trading