Opening an Account

Prior to dealing in the Margin Forex market investors must open an account through an ASIC registered licensee. Opening a Margin Forex account (Client Agreement Form) issimilar to opening an account with a share or futures broker because both licensees are regulated by the ASIC. You will also receive a copy of our Financial Services Guide and Product Disclosure Statement.

1. Your Adviser

In Australia, all Margin Forex dealers must be licensed by the ASIC. Further to this, all employees of Financial Services Licensees who deal and advise in Margin Forex must hold authorised representative’s status. Therefore, when an investor opens an account with us, the person they deal with will be authorised. The adviser is the person with whom the investor will place the buy and sell orders and who are legally allowed to give advice on trading.

2. Minimum Account Size

The minimum account balance that most brokers will usually insist upon is $10 000. However this amount can be lower depending on the type of contracts traded and type of strategies used. The more capital you choose to allocate to Margin Forex trading, the more you can diversify into different markets and different trading strategies.

3. Costs, Fees and Charges.

No commission is charged on Margin Forex transactions. Our spreads vary depending on the type and level of service required, and the frequency and size of transactions. The spreads are competitive and can be negotiated with your adviser.

4. Requirements to Open an Account

a) Account Opening Forms

Complete and sign the Client Agreement Form and arrange copies of appropriate 100 point Identification checks for all signatories as outlined in the Client Agreement Form.

Additional documentation for entities:

· For Partnerships a copy of the Partnership Agreement is to be supplied
· For Company accounts a copy of Certificate of Incorporation is to be supplied.
· For Superannuation Funds and Trusts a copy of the Super Fund and Trust schedule is to be supplied.

Post the completed Client Agreement Forms, Investment Profile and Identification Requirements to:

CK Locke and Partners
PO Box Y3039
East St Georges Terrace
PERTH WA 6832

b) Funds
You can deposit cheques, direct transfer or direct deposit to enable opening of the account.  Banking details will be sent to you when your account has been approved.

Click here to apply for an account online.