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1. Write a FOREX options investment business plan. Include how much risk capital you will invest. Risk capital is the amount of money you will need to place on deposit in a brokerage account that if you were to lose as a result of your investments will not result in severe financial hardship. Describe your professional investment strategy. Begin your search for a professional investment strategy on the exchange's website or on an options education website.
2. Research the brokerages that offer FOREX options trading. Be sure to conduct a background check through the National Futures Association or the Financial Industry Regulatory Authority. Each organization maintains a database that you can search online. You can also contact them by email or by telephone to inquire about a prospective broker.
3. Complete the paperwork necessary to open a brokerage account. Read carefully the 'Customer Agreement' and 'Terms and Conditions,' as these documents outline your rights and obligation as an account holder with your broker.
4. Deposit your risk capital. Be aware that most brokers have account minimum requirements. Before you invest, be sure you know your broker's account minimum requirement.
5. Trade your risk deposit by executing trades according to your business plan's professional investment strategy.
6. Prepare weekly, monthly, quarterly and annual reports describing your trading results.