Common use of Account Opening Procedure Clause in Contracts

Account Opening Procedure. 6.1. Before opening a new account, the Client should read, acknowledge and accept the Company’s Client Agreement and all the relevant Legal Documents, which are accessible through the Company’s Website. After logging onto the website of the Company, the Client will complete and/or receive the application procedure which consists of the following: a) account application form, b) relevant information/documents of the client. 6.2. Once the Client accepts and agrees with the Legal Documents of the Company, he/she shall then complete the account opening form/questionnaire in order to apply for the Company’s Services under this Agreement. Via this questionnaire, the Company will obtain, amongst others, information for the Client’s identification and due diligence, their categorization and appropriateness or suitability for the products/services on offer by the Company (as applicable), in accordance with the Applicable Regulations. The Company will assess the information received by the Client during the Account Opening Procedure in order to determine whether the Client is eligible or not for investing and/or operating a trading account with the Company. The Agreement may commence once the Client has been informed about their account being activated after the Client fills and submits the account opening form/questionnaire. 6.3. The Company is obligated by its Applicable Regulations to perform Know Your Customer and due diligence procedures in order to verify the identity of each person who registers online via the Company’s Website. For this purpose, the Company will collect information about the Client, such as the Client’s name, surname, address, telephone number, email, nationality, date of birth and other details. In the event that the Client does not provide the relevant verification documents for the Company to complete the relevant Know your Customer and due diligence procedures, the Company reserves the right to terminate the Client’s trading account and/or registration immediately and pursuant to Clause 24 of this Client Agreement. 6.4. When the Company receives the Client’s completed online application form, it may use the information to conduct any further enquiries about the Client as the Company determines under the circumstances and its internal policies and procedures. The Company also carries out additional checks or periodic reviews. The Client will need to co-operate with the Company and supply the information requested promptly. The Company relies on the information that it is provided by the Client in the online application form or otherwise as being correct and not misleading at all times, unless the client notify us otherwise in writing. In particular, the Client must notify the Company as soon as possible in writing to the email address xxxxxxx@xxxxxxx.xxx if any of the details provided to us in his application form or if any of your circumstances have subsequently changed. Therefore, the Company at any given time reserves the right to limit, block access and/or terminate and/or close the Client’s Account if such information is not provided and/or if any such information provided to the Company appears to, or the Company has concerns that the submitted information may be untrue, inaccurate, incomplete, incorrect and/or falsified in any manner. 6.5. The Company is not to be required (and may be unable under Applicable Regulations) to accept a person as its Client until all documentation it requires has been received by properly and fully completed by such person and all internal checks (including without limitation all anti-money laundering customer identification and due diligence checks) have been duly satisfied. It is further understood that Company reserves the right to impose additional due diligence requirements to accept Clients residing in certain countries where the risk of money laundering may be higher. During the customer identification and due diligence checks the Company shall apply processes to verify the Client’s identity for which (amongst other things) photo identification information will be required by the Client. In certain circumstances we may require this information to be authenticated by an appropriate third party. The Company requires as minimum a government issued Photo identity documents such as a passport, driving license and/or identity card containing your full name, personal photo, and date of birth, ID number and expiry date as well as evidence of your residential address, such as a utility bill or bank statement, for the verification process. The information in these documents should agree with the details submitted in Client’s application.