Account Opening Form

Fci-Netstation

Individual Account Opening Form

All sections of this Individual Account Opening Form must be completed in order for Foreign Currency Innovations to assess your suitability to open an account. It is essential that the information provided is accurate and if, at a future date, any circumstances affect this information you are required to write to us advising us of these details.

Supporting Documentation

All application forms must be accompanied by proof of residential address and proof of identity.

I. Proof of Address: certified copy* of a recent (no more than 4 months old) utility bill or bank statement stating your name and residential address.

Bills and statements printed off the internet are not acceptable.

II. Proof of Identity: certified copy* of your valid passport, National ID card or photocard drivers licence. Please note that residents of the UK, all EU countries, Australia, Brazil, Canada, Hong Kong, Japan, New Zealand, Norway, Singapore and Switzerland may provide uncertified copies.

Please note that residents of China, Gulf Co-operation Council member countries, India and South Africa may provide uncertified copies if depositing < $5,000 over the lifetime of the account.

*Certification may be carried out by a lawyer, Notary Public, Consulate or Embassy official and be stamped as “true copy of the original”. All copies must be clear and certification must be legible, dated and signed with the full name and address of the certifier included

FCI-Netstation

Please Select Account Type


What is Account Type?

Login Details

General Information

 Email  Home  Work  Mobile

Employment Information

 Employed  Self-Employed  Unemployed  Retired
 Yes  No

Payment Information

In regard to the bank account funds will be received from and any redemptions paid out to:

 Yes  No
 Employment  Self-Employed Business  Pension  Inheritance  Savings & Investments  Other (please specify below)

Investment Experience

Equities  
  Yes (if 'Yes' please give further details below)    No 
Length of activity
(no of years)
Frequency
(no. of transactions a year)
Av. Transaction size
(total consideration - £000)
  0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
  Execution Only   Advisory   Discretionary Management

Contracts for Difference  
  Yes (if 'Yes' please give further details below) No 
Length of activity
(no of years)
Frequency
(no. of transactions a year)
Av. Transaction size
(total consideration - £000)
  0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
  Execution Only   Advisory   Discretionary Management

Alternative Investments / Funds  
  Yes (if 'Yes' please give further details below)   No
Fixed Income/ GILTs Bonds Funds
  Yes   No   Yes   No   Yes   No
  Execution Only   Advisory   Discretionary Management

Options  
  Yes (if 'Yes' please give further details below)   No
Length of activity
(no of years)
Frequency
(no. of transactions a year)
Av. Transaction size
(total consideration - £000)
Securities   0-1   1-2   2+ 1-39    40-80   80+   0-5   6-25   25+
Currencies   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Options on Futures   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Other (please specify)   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
  Execution Only   Advisory   Discretionary Management

Futures  
  Yes (if 'Yes' please give further details below)   No
Length of activity
(no of years)
Frequency
(no. of transactions a year)
Av. Transaction size
(total consideration - £000)
Commodities   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Securities   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Interest rate instruments   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Stock indices   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Other indicies   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Currencies   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
Other (please specify)   0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
  Execution Only   Advisory   Discretionary Management

FX  
  Yes (if 'Yes' please give further details below)   No
Length of activity
(no of years)
Frequency
(no. of transactions a year)
Av. Transaction size
(total consideration - £000)
  0-1   1-2   2+   1-39   40-80   80+   0-5   6-25   25+
  Execution Only   Advisory   Discretionary Management

Market Knowledge & Individual Objectives

Client Classification

Please select your desired Client Classification Status.

Account Opening Declaration

I confirm that the information provided to Foreign Currency Innovations Limited is true and accurate and may be relied upon by Foreign Currency Innovations Limited in assessing whether I meet the detailed requirements to be treated as a Professional Client.

Appendix A

Elective Professional Clients

You as the client can request to be opted up to be an "Elective" Professional Client however you must ensure
you meet the Qualitative Test and also the Quantitative Test.

Under the rules of FCA being categorised as an Elective Professional Client, you will lose the protections of the
rules which only apply to Retail Clients. In particular you should note that rules relating to the following areas
do not apply, or only partially apply, to Elective Professional Clients:

  1. COMMUNICATING WITH CLIENTS, INCLUDING FINANCIAL PROMOTIONS
    As an Elective Professional Client the way in which we communicate with you may be different to the way in which we would communicate with a Retail Client. However, we must still ensure that our communications with you are fair, clear and not misleading.
  2. DISTANCE COMMUNICATIONS
    As an Elective Professional Client, it is possible that you may not meet the definition of a "consumer". If this is the case, then the requirements relating to distance communications will not apply.
  3. INFORMATION ABOUT THE FIRM, ITS SERVICES AND REMUNERATION
    There are specific pieces of information about the firm, our services and remuneration that we must provide to Retail Clients. We are obliged to provide information on these areas to all clients but the level of detail, medium and timing of the provision is less specific for those clients that are not Retail Clients.
  4. APPROPRIATENESS
    For transactions where we do not provide you with a personal recommendation (e.g. an execution only trade), we may be required to assess whether the transaction is appropriate for you. In these instances we are entitled to assume that, in relation to the products, transactions and services for which you are classified as an Elective Professional Client, you have the necessary level of experience and knowledge to understand the risks involved in the transaction.
  5. DEALING
    When providing Best Execution to you as an Elective Professional Client, price is likely to be of high relative importance. However we are not obliged to determine the best possible result in terms of the total consideration, representing the price of the financial instrument and the costs related to execution, although this will be one of the factors that we will consider. Furthermore, where there is more than one competing venue to execute an order we do not have to consider our own commissions and costs relating to each of the eligible execution venues when assessing which to use in order to provide best execution.
  6. REPORTING INFORMATION TO CLIENTS
    When providing confirmation that we have carried out your order, the timeframe we have to do so is greater than if you were a Retail Client.
  7. FINANCIAL OMBUDSMAN SERVICE

You should note that the services of the Financial Ombudsman Service may not be available to you as
an Elective Professional Client.

It should be noted that you have the right to request a different client classification and are responsible for
keeping Foreign Currency Innovations Limited informed about any change that could affect your categorisation
as an Elective Professional Client.

Qualitative Test

Foreign Currency Innovations Limited will review the client's expertise, experience and knowledge details provided in this Account Opening Form and will decide if the client is capable of making his or her own investment decisions and understanding the risks involved. If the client is an entity, the qualitative will be performed in relation to the person authorised to carry out transactions on its behalf.

Quantitative Test

The client must satisfy at least two of the following:
Please tick the appropriate box and supply supporting documentation.

  Yes   No
  Yes   No
  Yes   No

Elective Professional Declaration

We wish to be classified as an Elective Professional client under FCA rules. We are aware that being treated as an elective professional client affords less investor protection than being classified as a retail client. We hereby confirm by signing below that we have read and agree to the contents of Appendix A, in particular, points 1 to 7. We are aware that being treated as an Elective Professional Client affords less investor protection than being treated as a Retail Client. We also agree to keep Foreign Currency Innovations Limited informed of any changes in our circumstances that could affect our categorisation as an Elective Professional Client.

Appendix B

Per Se Professional Client

Each of the following is a Per Se Professional Client unless and to the extent it is an Eligible Counterparty or is given a different categorisation.

  1. An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
    • Credit institutions
    • Investment firms
    • Other authorised or regulated financial institutions
    • Insurance companies
    • Collective investment schemes and their management companies
    • Pension funds and their management companies
    • Commodity and commodity derivative dealers
    • Locals
    • Other institutional investors
  2. In relation to MiFID or equivalent third country business a large undertaking meeting two of the following size requirements on a company basis:
    • Balance sheet total of EUR 20,000,000
    • Net turnover of EUR 40,000,000
    • Own funds of EUR 2,000,000
  3. In relation to business that is not MiFID or equivalent third country business a large undertaking meeting any of the following conditions:
    • A body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) (or has had at any time during the previous two years) called up share capital or net assets of at least £5 million (or its equivalent in any other currency at the relevant time)
    • An undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests:
      • a balance sheet total of EUR 12,500,000
      • a net turnover of EUR 25,000,000
      • an average number of employees during the year of 250
    • A partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least £5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners
    • A trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least £10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust's assets, but before deducting its liabilities
    • A trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years):
      • at least 50 members; and
      • assets under management of at least £10 million (or its equivalent in any other currency at the relevant time)
    • A local authority or public authority.
  4. National and regional governments, public bodies that manage public debt, central banks and international and supranational institutions.
  5. Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitisation of assets or other financing transactions.

Appendix C

Eligible Counterparties

  1. An eligible counterparty is a client that is either a per se eligible counterparty or an elective eligible counterparty.
  2. A client can only be an eligible counterparty in relation to eligible counterparty business.

Each of the following is a per se eligible counterparty (including an entity that is not from an EEA state that is equivalent
to any of the following) unless and to the extent it is given a different categorisation under this chapter:

  1. An investment firm
  2. A credit institution
  3. An insurance company
  4. A collective investment scheme authorised under the UCITS Directive or its management company
  5. A pension fund or its management company
  6. Another financial institution authorised or regulated under European Community legislation or the national law of an EEA State
  7. An undertaking exempted from the application of MiFID under either Article 2(1) (k) (certain own account dealers in commodities or commodity derivatives) or Article 2(1) (l) (locals) of that directive
  8. A national government or its corresponding office, including a public body that deals with the public debt
  9. A central bank
  10. A supranational organisation

A firm may treat a client as an elective eligible counterparty if:

  1. The client is an undertaking and:
    • Is a per se professional client (except for a client that is only a per se professional client because it is an institutional investor under COBS 3.5.2 R (5)) and, in relation to business other than MiFID or third country business:
      • Is a body corporate (including a limited liability partnership) which has (or any of whose holding
        companies or subsidiaries has) called up share capital of at least £10 million (or its equivalent in any
        other currency at the relevant time); or
      • Meets the criteria in the rule on meeting two quantitative tests (COBS 3.5.2 R (3)(b)); or
    • Requests such categorisation and is an elective professional client, but only in respect of the services or transactions for which it could be treated as a professional client; and
  2. The firm has, in relation to MiFID or equivalent third country business, obtained express confirmation from the
    prospective counterparty that it agrees to be treated as an eligible counterparty.

Appendix D

SUPPORTING DOCUMENTATION CHECKLIST

All applications must be accompanied by the correct supporting documentation before any applications will be processed.

Please ensure you have attached the following documents.

Proof of Address: certified copy* of a recent (no more than 3 months old) utility bill or bank statement** stating your name and residential address.

Bills and statements printed off the internet are not acceptable.

Provide two proofs of address

Proof of Identity: certified copy* of your valid passport, National ID card or photocard drivers licence.

Please note that residents of the UK, all EU countries, Australia, Brazil, Canada, Hong Kong, Japan, New Zealand, Norway, Singapore and Switzerland may provide uncertified copies.

Additional Documents(We will let you know if we need additional documents)

*Certification may be carried out by a lawyer, Notary Public, Consulate or Embassy official and be stamped as “true copy of the original”. All copies must be clear and certification must be legible, dated and signed with the full name and address of the certifier included

** If supplying a bank statement please ensure the statement is from the account that will be funding your FCI trading account, sensitive information may be obscured ie: account balance.