One Financial Markets - Brokerage Application
BOOK MARK THIS PAGE FOR YOUR REFERENCE (we do not link to it) and it contains some very important information and documents for opening your account. One Financial Markets is a very reputable and stable brokerage based in London, UK. They are heavily regulated by the FSA/FCA. Please follow the instructions below in detail to complete your brokerage application. One Financial Market’s application is a little complex, however if you follow all of the instructions below carefully, then you should not encounter any problems. * NOTE: if you are having any problems downloading any documents on this page, you can right click on their link, and choose “save link as” or “save target as” and save the document to your PC this way.
Here are some important tips to read before starting the application.
- GETTING HELP: should you require any assistance in getting your account setup, approved, and funded, please email [email protected] and a member of OFMs accounts team will be more than happy to be of assistance. Likewise, we are always here to help you during any step in the application, so feel free to contact us at any time at [email protected] and we will be glad to assist! Likewise if you want someone to phone you and walk you through the application we are always able to to assist in this manner as well. Just let us know the best time to phone you. Most people have no problems when following the guide below however.
- USA ECPs: These programs are not open to retail USA-resident clients at One Financial Markets at the moment, unless the client can qualify as an ECP (eligible contract participant). To see if you qualify as an ECP, please download the ECP confirmation document here: ECP CONFIRMATION and sign it before completing the application. Sign this and return it to both [email protected] and [email protected] and notify them that you are an American citizen, applying as an ECP, and that you will be completing your application right away. This will ensure that they accept your application as a USA ECP when it comes in to them.
- MINIMUM INVESTMENT: The minimum investment to participate with these managed FX programs varies per program (please see the LPOAs below). These minimums are set for no reason other than to ensure that the smallest trades get filled on all sub-accounts with OFM’s minimum position sizing.
- CORPORATE ACCOUNTS AND HARD COPY APPLICATIONS: Those wishing to complete an application in hard copy (instead of the online application) may do so by downloading the PDF on the original Live Account page: http://www.onefinancialmarkets.com/accounts/live-account/ . Likewise the corporate account application, and the required support documentation list are also found on that same page. PDF applications can be sent via fax to 0044 (0) 207 434 4367 or the easiest and preferred method is by scan and email, which you can send the application and corporate support documents to [email protected]. You can also mail hard copies into the address which is mentioned directly on the PDF applications. For those opening personal accounts with the online application, please read below.
STEP 1. Completing the Online Account Application
To open your brokerage account up at OFM, you must first complete an account application, then send in the required pieces of support documentation, fund your acccount(s) and then sign the required LPOAs (limited power of attorney) documents (which are provided below). These instructions are here to make the sign-up process as easy as possible and to guide you through the application along with examples. *IMPORTANT: There are a few things that must be done carefully when completing the online application to ensure the correct accounts are opened for the correct programs we trade. We have indicated these below, so please read each section carefully and follow it as you go through the application.
OFM Online Application
The online application can be found mid-way down the page here at the following URL: http://www.onefinancialmarkets.com/accounts/live-account/. Scroll down to where it says “OPEN A LIVE ACCOUNT WITH ONE FINANCIAL MARKETS“. All of the required documentation for both corporate and individual clients are clearly explained on the middle of this same page as well, and we encourage all potential investors to read through the page thoroughly before completing the application.
INITIAL INFORMATION: Once you enter the initial information for the online application and click the “Submit” button, it will take you to the start of the application which consists of 6 steps. Here is an example of the initial information page:
PAGE 1
On the first tab called “General Information“, you will see at the bottom, there is a section called “Additional Information”. Enter your preferred method of contact here (email or phone). Then select the “DMA MT4” as the platform, and then when it asks ”How did you hear about us” - you must select “Introducing Agent or Broker“. When it then prompts to “State Introducing Agent Broker” you must enter: AP: (followed by the short code for the systems you wish to have traded). This is very important as it will alert OFM as to how many accounts they need to setup for you and for which strategy. If you wish to have 2 accounts setup to diversify with two of the trading strategies (i.e., Stone Fund, and Arc FX) you would simply write - “AP: SFX, AFX.”. Likewise if you only wanted to open 1 account for one strategy, say Arc FX for example, you would write: “AP: AFX”. The short codes for our systems logically are as follows..
AFX = Arc FX
VFX = Valor FX
FFX = Figaro FX
SFX = Stone Fund
Here is an example of a completed first page, showing what it would look like to sign up for two accounts to be traded, one with Arc FX and one with Stone Fund. When finished click the green Next button
PAGE 2
On the second step called “General Info Cont” at the top there is a question called “*Will any other person aside from you personally give us instructions regarding trading to be undertaken on your account, or will an agent act on your behalf?”. Click “Yes” here. You do not need to contact customer service though, as we will provide you with the appropriate LPOAs for download below. Here is an example of this page completed:
PAGE 3
On the third step called “Financial Information” you must enter the banking details for the bank that you will use to fund your account. Please note that the beneficiary for your bank must match the same beneficiary opening the account at OFM. If this is not the same, it could cause problems later on when trying to withdraw funds. Complete the income details and source of funds section. Here is an example of a completed section of this application:
PAGE 4
On the fourth step called “Previous Trading Experience” you need to give your experience level to the brokerage in terms of investing in various asset classes. You can be as detailed or as vague as you like here. If the brokerage feels you do not have a clear understanding of investing or risk, they may however reject your application. Please complete all fields in this section. Here is an example of a completed section of this application.
PAGE 5
On the fifth step called “Market awareness” you are asked a series of questions to see your level of market awareness. Since we will be managing your accounts this is not as important as if it were a self-directed trading account, however the broker wishes to see that most investors have at least some knowledge in investing or trading or FX since this is the asset class for the managed accounts. Here is an example of this section of the application completed.
PAGE 6
On the sixth and last step called “Upload Documents” you must upload your disclosure documents. All application forms must be accompanied by proof of residential address and proof of identity before they can be completed. Here are the details of what is needed…
I. Proof of Address: 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: a 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 (i.e. you do not need to notarize them). Also, 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.
If you do not reside in one of the above jurisdictions you must “certify” your support 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.
After completing this section and uploading your documents click the “Submit” button at the bottom to submit your application to OFM. They will then contact you if there is any other information they need to approve your account.
STEP 2. LPOAs (Limited Power of Attorney)
After your account(s) have been approved and created, you must also download and complete the appropriate LPOAs, based on the total dollar size of your investment (indicated below) and the accounts you wish to have traded. This allows our managers to trade the accounts on your behalf. Once complete, please either fax (to 0044 (0) 207 434 4367) or scan and send them via email to [email protected]. Likewise you may fax these to our toll free fax if you prefer at: +1 (866) 674-6760 and we can forward these to the brokerage on your behalf.
LPOA Downloads for Arc FX
1. 35% LPOA (to be used for account sizes between $5K - $150K USD in size)
2. 32.5% LPOA (to be used for account sizes between $150K - $1M USD in size)
3. 30% LPOA (to be used for account sizes greater than $1M USD in size)
LPOA Downloads for Valor FX
1. 35% LPOA (to be used for account sizes between $50K - $150K USD in size)
2. 32.5% LPOA (to be used for account sizes between $150K - $1M USD in size)
3. 30% LPOA (to be used for account sizes greater than $1M USD in size)
LPOA Downloads for Figaro FX (aggressive risk trading strategy)
1. 35% LPOA (to be used for account sizes between $50K - 150K USD in size)
2. 32.5% LPOA (to be used for account sizes between $150K - $1M USD in size)
3. 30% LPOA (to be used for account sizes greater than $1M USD in size)
LPOA Downloads for Stone Fund
1. 32.5% LPOA (to be used for account sizes between $100K - $1M USD in size)
2. 30% LPOA (to be used for account sizes greater than $1M USD in size)
* IMPORTANT: After your accounts have been approved, and funded, you must simply instruct OFM to distribute your funds internally between any of your accounts proportionally as you would like to distribute/diversify them (assuming you have more than one account). For example, if you invested 50K, and wanted to put 20K into Stone Fund strategy, and 30K into Arc FX, you must contact OFM and notify them to distribute the funds between your two accounts. This is done by contacting customer support at OFM and requesting them to distribute your funds accordingly.
Should you have any questions or concerns in completing this application, please do not hesitate to contact us.
Respectfully Yours,
The Managed Forex Hub team.
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We also ask that all of our clients take a brief moment and ensure to read our RISK DISCLAIMER and our DISCLOSURE DOCUMENT as these form part of your agreement with MFH when participating in the managed accounts.