Client Account Opening Questionnaire for Physical Persons

Transcription

1 A. General Client Account Opening Questionnaire for Physical Persons 1. Title: 2. Full Name: 3. Date and Place of Birth: 4. Nationality: 5. Country of Residence: 6. Are you a USA passport holder? Yes No 7. Passport number/(id card number only if Cyprus resident): 8. Full Permanent Address: 9. Home Telephone Number: 10. Mobile Telephone Number: 11. Fax Number: Employment Status: Permanent full-time employed (incl. self-employment) Part-time employed (incl. self-employment) Unemployed Student Retired 14. Profession: 15. Name of Employer/ Organization: 16. Are you a Politically Exposed Person (see Appendix A for definition) Yes No 17. Do you have any relationship (e.g. relative, associate) with a Politically Exposed Person(s) (see Appendix A for definition)? Yes No B. Economic Profile: 18. Annual income: Less than 12,000 between 12,000 24,000 Between 24,000 50,000 More than 50,000 Page 1 of 13

2 19. Source(s) of your income (more than one possible answers): Employment Business activities Rent Investments/deposits Pension Other (please specify): 20. Size of Wealth: Less than 5,000 Between 5,000 10,000 Between 10,000-50,000 Between 50, ,000 More than 250, Anticipated amount to invest on an Annual basis: Less than 1,000 Between 1,000 5,000 Between 5,000 10,000 More than 10, What is the purpose and reason for requesting the envisaged services provided by the Company? Hedging Personal Investment Speculation 23. How do you expect to fund your account: Bank Wire Transfer Credit/Debit Card Swift Payments E-wallet 24. Expected destination of withdrawals, if different than your funding method/origin (optional): o o Name of institution/bank :. Country of origin:. Page 2 of 13

3 C. Assessment of Appropriateness The reason for assessing the appropriateness is to enable the Company to act in the Client s best interest and assess whether the services and products that the Client seek to be provided with are appropriate for him/her. In this respect, the Client is encouraged to provide accurate and sufficient information about his/her knowledge and experience related to the services and products envisaged. It is important to provide the Company with complete, up-to-date and accurate information so that the Company can properly assess whether the services and products envisaged are appropriate for the Client. If the Client elects not to provide the information regarding his/her knowledge and experience, or where the Client provides insufficient information regarding his/her knowledge and experience, please note that such a decision will not allow the Company to determine whether the services and products envisaged are appropriate for him/her. Knowledge & Experience 25. Please state the level of your education. None Elementary education Secondary education (High school) Higher education 26. Does your education relate to the financial industry? Yes No 27. Does your current or past profession relate to the financial industry? Yes No 28. Please select the type(s) of market(s) you are familiar with. Forex Binary Options Commodities Metals Stock Exchanges Bonds market None Page 3 of 13

4 29. Please select the financial instrument you are familiar with. Transferable securities (e.g. Bonds, Stocks, Money market instruments etc.) CFDs (e.g. on Forex, Metals, Commodities, Stocks, Indices Futures) Binary Options (e.g. on Forex, Equity Indices, Commodities, Stocks) Other derivative products (e.g. Swaps, Futures, Options, Forwards etc.) I am not familiar with any financial instruments 30. What type(s) of financial service(s) have you used before? Brokerage services that require independent investment decisions (such as investing in stocks or future contracts) Investment advisory services / Portfolio management None 31. How long have you been investing in the financial markets? Never Between 0 6 months Between 6 12 months Between 1 5 years Over 5 years 32. When was your last transactions carried out? Less than a week ago Between a week and a month ago Between a month and six months ago Between six months and a year ago More than a year ago Never 33. What was the average annual frequency of your past transactions? None Less than 50 Between Over What was the average annual volume of your past transactions? 0 Less than 2,000 Between 2,000-10,000 Above 10,000 Page 4 of 13

5 35. Which financial instruments are usually characterized by the use of leverage? I do not know Stocks, bonds CFDs 36. Have you used leveraged products before? Yes No If yes, please state which type(s) of leverage have you used: Margin Trading in Forex, CFDs Credits & Loans in traditional financial instruments (e.g. shares, bonds etc) Other 37. What leverage have you used in the past more frequently? Less than 5:1 Between 5:1-20:1 Between 20:1-100:1 Between 100:1-400:1 More than 400:1 N/A 38. You bought a contract for gold (long position). The next day the price of gold increased. What will be the result of the transaction? I will earn I will lose It will not affect the value of the transaction D. FITNESS TEST 39. The Fitness Test below should be undertaken by persons/clients requesting to trade in CFDs and/or Binary Options, and wish to be treated as Professional, as per the Client Categorisation Policy. a. Did you carry out transactions in significant size on a relevant financial market at an average of ten (10) transactions per quarter over the previous four (4) quarters? Yes No Page 5 of 13

6 If your answer is yes please specify the relevant financial market, type of financial instrument and the approximate size of transactions b. Does the size of your portfolio (cash deposits and financial instruments) exceed EUR ? Yes No c. Do you work or have you worked in the financial sector for a period of at least one (1) year in a professional position, which requires knowledge of the transactions or service(s) envisaged. Yes No E. Provision of Information 40. Please choose the preferred method of receiving inforinformation from the Company: *Electronically Paper ( & Website) * To be able to receive information electronically kindly note that an address must be provided in Section A.8 above. Further, kindly note that some information provided through our website may not be addressed personally to you. Kindly confirm that you accept this by ticking the box Page 6 of 13

7 F. Personal Data Declaration 41. By agreeing in this section I consent to the following: 1.1 My personal information, including name, personal identification number, contact details, etc., as well as client information, including account information, entries, financial instruments I trade in, etc., may be disclosed to other related or associated companies within the Company or to companies which work for it. 1.2 Such companies of 1.1. are located in countries where data protection laws may not provide an equivalent level of protection to the laws of Cyprus. 1.3 My personal information may be disclosed for marketing purposes and administering my client relationship with the Company. 1.4 Such companies of 1.1. may provide me/us with marketing material regarding investments and related services, including new products and services offered by them and newsletters, market updates, and investment opportunities by , sms, regular mail, fax or telephone. 2. I Acknowledge and agree that personal information (including card details) submitted by me to the Company: May be used to undertake a search with to credit reference agencies, fraud prevention agencies, third authentication service providers and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, and identification or due diligence checks. To do so they may check the details I supply against any particulars on any database (public or otherwise) to which they have access. They may also use my details in the future to assist other companies for verification purposes. A record of the search will be retained. May be disclosed to other service providers who create, maintain or process databases (whether electronic or not), offer record keeping services, transmission services, messaging services or similar services which aim to assist the Company collect, storage, process and use Client information or get in touch with the Client or improve the provision of services. May be shared with to other service providers for statistical purposes in order to improve the Company marketing and sales. May be disclosed to market research call centers that provide telephone or surveys with the purpose to improve the services of the Company. I agree I don t agree Page 7 of 13

8 G. Risk Disclosure Statement CFDs: 1. In order to comply with Applicable Regulations, the Company must provide its prospective Clients with a Risk Disclosure statement on complex Financial Instruments. Below is an overall description of the characteristics of CFDs and of the risks associated with them. Further information please refer to Risk Disclosure and Warnings Notice. 2. Trading in Financial Instruments always involves a risk. As a general rule, you should not therefore trade in Financial Instruments if you do not understand the products and the risks associated with them. 3. A CFD - or Contract for Difference - is speculation in changes in values. This Financial Instrument allows the Client to speculate in future increases or decreases in the value of a specific Underlying Asset, for instance Currency Pairs, equity indices, metals, commodities and forwards. If the Client s speculations prove to be correct, he will make a profit from the difference in value (less costs), but he will have to pay the difference in value (plus costs) if his speculations turn out to be wrong. 4. CFDs available with the Company are always margin traded are margin traded, allowing the Client to take a larger position than he would otherwise be able to based on his funds. So, a relatively small movement in the Underlying Market can have a disproportionately dramatic effect on the Client s trade. If the Underlying Market movement is in the Client s favor, the Client may achieve a good profit, but an equally small adverse market movement can not only quickly result in the loss of the Clients entire deposit, but may also expose the Client to a large additional loss. CFD trading therefore involves a relatively high level of risk. 5. CFDs trade within wide intraday ranges with volatile price movements. Therefore, the Client must carefully consider that there is a high risk of losses as well as profits. The price of CFDs is derived from the price of the Underlying Asset in which the CFD refers to. CFDs and related Underlying Markets can be highly volatile. The prices of CFDs and the Underlying Assets may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company Under certain market conditions it may be impossible for a Clients order to be executed at declared prices leading to losses. The prices of CFDs and the Underlying Asset will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant market place. Page 8 of 13

9 Binary Options: 1. In order to comply with Applicable Regulations, the Company must provide its prospective Clients with a Risk Disclosure statement on complex Financial Instruments. Below is an overall description of the characteristics of Binary Options and of the risks associated with them. For further information please refer to Risk Disclosure and Warnings Notice. 2. Trading in Binary Options is VERY SPECULATIVE AND HIGHLY RISKY and is not suitable for all members of the general public but only for those investors who: a) understand and are willing to assume the economic, legal and other risks involved. b) taking into account their personal financial circumstances, financial resources, life style and obligations are financially able to assume the loss of their entire investment. c) have the knowledge to understand Binary Options trading and the underlying assets and markets. 3. Binary Options are derivative financial instruments deriving their value from the prices of the underlying assets/markets in which they refer to (for example currency, equity indices, stocks, metals, indices futures, forwards etc.). It is important therefore that the Client understands the risks associated with trading in the relevant underlying asset/ market because fluctuations in the price of the underlying asset/ market will affect the profitability of his trade. Some such risks include: Volatility: movements in the price of underlying assets/ markets can be volatile and unpredictable. This will have a direct impact on the Clients profits and losses. Understanding the volatility of an underlying market will help guide the Client how to trade and how much he is willing to lose. Market swings: swing is a sudden shift in the price of an underlying asset price from one level to another. Various factors can lead to gapping (for example, economic events or market announcements) and gapping can occur both when the underlying market is open and when it is closed. When these factors occur while the underlying market is closed, the price of the underlying market when it reopens (and therefore our derived price) can be markedly different from the closing price, with no opportunity to close your trade in-between. 'Gapping' can result in a significant loss (or profit). Market liquidity: The prices of Binary Options will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant market place and some of the Binary Options underlying assets may not become immediately liquid as a Page 9 of 13

10 result of reduced demand for the underlying asset. So, market conditions can change significantly in a very short period of time and hence under certain market conditions it may be impossible for a Client s order to be executed leading to losses. 4. Binary options trading can only be settled in cash and there is no delivery of the underlying asset. 5. If you do not understand the risk involved in relation to Binary Options do not trade at all. You may lose all your money deposited. H. Signature and Consents 42. I declare and confirm by agreeing with the below: To have read, understood and agreed with the Agreement (namely the Client Agreement and the following documents Company Information, Client Categorisation Policy, Investor Compensation Fund, Summary of Conflicts of Interest Policy, Summary Best Interest and Order Execution Policy, Risk Disclosure and Warnings Notice, Complaints Procedure for Clients, which are all found on the website. That all information disclosed above is complete, true and accurate and I agree to promptly notify the Company of any changes in this information or it ceases to be true and accurate. That I agree for my personal information to be used and disclosed as described in PART F above. I agree I don t agree I. List of Required Documents Copy of Passport (for Clients not residing in Cyprus. Photograph, personal details, signature, issue & expiry dates, place and date of issue, serial number to be clearly visible). Copy of Driving License, Passport or National Identity Card (for Clients who are residing in Cyprus). Copy of a recent (up to 6 months) utility bill, local authority tax bill or a bank statement. Remarks 1. Certification standards: Copies of documents may be certified as true copies if the Client is from the EEA or an Approved country (see Appendix B below) and Apostilled if the Client is from any other jurisdiction. Page 10 of 13

11 2. Certified (True) Copy means that the person certifying the copy of the document has had sight of the original document at certification and is in a position to certify that the copy is a True and Complete copy of the original document. The Company recognises such certifications when made by independent reputable sources. Such sources must be operating in the EEA or an Approved Country (see Appendix B below) and indicatively include the Client s Bank, the Client s Legal Counsel, a Solicitor/Lawyer or Public Accountant regulated by a professional body (membership number required). The Company requires that the certification process includes the Authenticator stating his name, capacity/position, signature, date and Official Seal on the documents being certified. 3. Apostilled copies: Documents should be apostilled in accordance with the provisions of the Hague Convention. 4. Kindly note that the Company may always and at any time revert back to you requesting further information, clarifications and documentation from your behalf with respect to your application for opening an account or the maintenance and continuation of your account following approval. Page 11 of 13

12 APPENDIX A 1. POLITICALLY EXPOSED PERSON 2. IMMEDIATE FAMILY OR CLOSE ASSOCIATES The meaning Politically Exposed Persons includes the following natural persons who are or have been entrusted with prominent public functions in Cyprus or abroad: heads of State, heads of government, ministers and deputy or assistant ministers; members of parliaments; members of supreme courts, of constitutional courts or of other highlevel judicial bodies whose decisions are not subject to further appeal, except in exceptional circumstances; members of courts of auditors or of the boards of central banks; ambassadors, chargιs d'affaires and high-ranking officers in the armed forces; members of the administrative, management or supervisory bodies of State-owned enterprises. None of the categories set out above should be understood as covering middle ranking or more junior officials. Politically Exposed Persons are also the immediate family members of such persons as set out under Definition 1, which means: the spouse or the person with which cohabit for at least one year; the children and their spouses or the persons with which cohabit for at least one year; the parents. Politically exposed persons are also persons known to be close associates of such persons as set out under Definition 1, which means: Any natural person who is known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a person referred to in Definition 1; Any natural person who has sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the benefit de facto of the person referred to in Definition 1. Further, where a person has ceased to be entrusted with a prominent public function within the meaning of the above definition for a period of at least one year, such persons shall not be considered a Politically Exposed Person. Page 12 of 13

13 APPENDIX B Third countries which are considered as having equivalent AML/ Combating the Finance of Terrorism systems to the EU. The list may be reviewed, in particular in the light of public evaluation reports adopted by the FATF, FSRBs, the IMF or the World Bank according to the revised 2003 FATF Recommendations and Methodology. As of February 2012 these countries are: 1. Australia 2. Brazil 3. Canada 4. French overseas territories (Mayotte, New Caledonia, French Polynesia, Saint Pierre and Miquelon and Wallis and Futuna)* 5. Dutch overseas territories (Aruba, Curacao, Sint Maarten, Bonaire, Sint Eustatius and Saba)* 6. Hong Kong 7. India 8. Japan 9. South Korea 10. Mexico 11. Singapore 12. Switzerland 13. South Africa 14. The United States of America 15. UK Crown Dependencies (Jersey, Guernsey, Isle of Man) may also be considered as equivalent by Member States. * Those overseas territories are not members of the EU/EEA but are part of the membership of France and the Kingdom of the Netherlands of the FATF. Page 13 of 13