Account-opening FAQ

• What is the application work flow?
• What types of account packages does GFT offer?
• What types of accounts does GFT provide?
• What is the Customer Knowledge Assessment (CKA)?
• How can I send my application forms and supporting documents to your office?
• If I’m using GFT’s pre-paid Business Reply Envelope to mail my application, what size paper should I use to print my application forms?
• How can I fund my account?
• Where can I find information on GFT fees?
• When I start trading, where can I find my transaction report?
• I am a foreigner. Can I apply for an account in Singapore?
• Where can I find all the necessary account-opening application forms?
• Do you provide account-opening application forms in Chinese?
• What are the necessary supporting documents for opening an account?
• Where can I find the withdrawal forms?
• How can I change my ID and password?
• Where is the support section on the GFT website?
• How can I contact GFT with further enquiries?
• Where is your Singapore GFT office located?

i) Q: What is the application work flow?

A: The application work flow consists of the followings 4 steps:

• Completing your application
• Passing the Customer Knowledge Assessment
• Printing your application, signing and mailing/delivering it to the Singapore GFT office (refer to vii).
• Funding your account (refer to ix).

After those steps are complete and all of your paperwork is processed, you can begin trading! (Please note: account approval is subject to document verification and due diligence checks.)

Open an account now: http://www.gftasia.com/Open-Account/.

ii) Q: What types of account packages* does GFT offer?

A: You can open an account with a minimum of SGD 300 (Green account). Open with more and you’ll qualify for Bronze, Silver, Gold or Platinum packages, which include additional tools and services. View more details here: http://www.gftasia.com/Account-Packages/.

* Please note that we may offer different account packages for different countries.

iii) Q: What types of accounts does GFT provide?

A: You can choose to open an individual account, joint account, corporate account or partnership account.

iv) Q: How can I send my application forms and supporting documents to your office?

A: Your account application form and supporting documents should be submitted in original, signed, hard copy to GFT. If you live in Singapore, you can use our pre-paid Business Return Envelope (no stamps needed) to send in all your completed application forms. Please make sure you have filled in all the required details and sealed the Business Reply Envelope properly before sending. The Business Return Envelope can be downloaded and printed from: http://documents.gftforex.com/Reply_Envelope_GFT_Asia.pdf.

v) Q: If I’m using GFT’s pre-paid Business Reply Envelope to mail my application, what size paper should I use to print my application forms?

A: Standard A4 size. (Please note: pre-paid Business Reply Envelope is available to applicants living in Singapore only.)

vi) Q: How can I fund my account?

A: We offer you a wide range of efficient payment methods, allowing you to choose the process you are most comfortable with to fund your GFT trading account. You can view the account funding details here: http://www.gftasia.com/Deposit-Funds/.

vii) Q: Where can I find information on GFT fees?

A: View fees information here: http://documents.gftforex.com/Fee_Schedule_GFT_Asia.pdf.

viii) Q: When I start trading, where can I find my transaction report?

A: The Detail Transaction Report, found on your "Statements" tab in DealBook® 360, is a daily report that compiles all transactions, settlements, and positions so that you may easily monitor your daily account activity. View more details here: http://documents.gftforex.com/GFT_Asia_Detail_transaction_report.pdf.

ix) Q: I am a foreigner. Can I apply for an account in Singapore?

A: Yes. Please provide the necessary supporting documents and proof of current address. Please refer to 2) Application Necessary Forms and Supporting Documents for details.

i) Q: Where can I find all the necessary account-opening application forms?

A: You can find the necessary forms at: http://www.gftasia.com/Help/Account-Documents/.

ii) Q: Do you provide account-opening application forms in Chinese?

A: Yes. View them here: http://www.gftasia.com/Help/Account-Documents/.

iii) Q: What are the necessary supporting documents for opening an account?

A: Singaporeans/Permanent residents –

• NRIC
• If mailing address differs from NRIC, please send in proof of address (e.g. bank statement, utility bill dated within the last 90 days).   
• Supporting documents for Customer Knowledge Assessment

Non-Singapore residents –

• Passport and/or Government-issued photo ID with current address. If photo ID does not contain current address, please send in proof  of address (e.g. bank statement, utility bill dated within the last 90 days).
• Supporting documents for Customer Knowledge Assessment
• Please ensure all documents submitted are notarized by a Notary Public, Commissioner of Oaths, lawyers or Certified Public Accountants. Note: If you can walk in to our Singapore office, you do not need to notarize the copies of supporting documents. Just bring along your original supporting documents with the copies.

All supporting documents should be submitted in original, signed, hard copy to GFT together with the signed Account Application Form and Risk Disclosure Forms.

With effect from 1 Jan 2012, Monetary Authority of Singapore (“MAS”) has announced new measures requiring licensed financial intermediaries, such as GFT, to formally assess a retail customer’s investment knowledge and experience on an annual basis. These new measures apply to the sale of Specified Investment Products (SIPs), including leveraged foreign currency (“FX”) trading and Contracts for Differences (“CFDs”), and are intended to safeguard the interest of investors.

Under these new measures, GFT is obliged to conduct a Customer Knowledge Assessment (CKA) to assess whether a customer has the relevant knowledge or experience to understand the risks and features trading leveraged FX and CFDs. In addition, we are required to obtain supporting documentations to demonstrate that you possess the relevant knowledge or experience.

You will be deemed to possess the relevant knowledge or experience if you fulfill any of the 4 criteria below:

i) Q: Other brokers do not require me to submit supporting documents. Why do I need to provide this to GFT?

A:It is stated in the Monetary Authority of Singapore (MAS) Practice Note on The Sale of Investment Products [SFA-PN01] that brokers should not rely solely on a Customer’s declaration that the Customer possesses the relevant knowledge or experience in unlisted Specified Investment Products. As such, we require you to provide supporting document in order for us to assess the outcome of your CKA.

However, if you have traded more than six trades with GFT in the preceding three years, it is not necessary to provide supporting documents.

ii) Q: I have just passed my assessment from another broker. Can I use their assessment for GFT’s use?

A: As all financial institution in Singapore has the obligation to conduct its own assessment, the assessment cannot be transferred.

iii) Q: If I do not meet any of the CKA requirement, can I still go ahead and open an account with GFT?

A: No, we can open a trading account for you only if you are deemed to possess the relevant knowledge or experience in the unlisted Specified Investment Products (SIP).

iv) Q: I have trading experience in CFD Commodities with another broker, can I use my past trading statements to open an Forex account with GFT?

A: Trading experience is specific to the SIP that the client wishes to trade in. As such, you can only open a Forex account with us if you have invested in at least six trades in Forex in the preceding three years.

v) Q: I would like to open a joint account. Who should complete and fulfill the criteria of the CKA?

A: Both applicants will have to complete and fulfill the requirements of CKA before the joint trading account can be open.

vi) Q: I am a Licensed Representative with Monetary Authority of Singapore. Can I just provide you with my rep number?

A: Yes, this is subjected to us being able to ascertain that you have working experience in the development of, structuring of, management of, sale of, trading of, research on and analysis of investment products or the provision of training in investment products for a minimum of 3 consecutive years of working experience.

i) Q: Where can I find the withdrawal forms?

A: You can find them here under the title ’Deposits and Withdrawals.’

ii) Q: How can I change my ID and password?

A: You can apply to have the information changed. The forms can be found here: http://documents.gftforex.com/Application_to_change_account_info_GFT_Asia.pdf under the title ’Miscellaneous Forms.’

iii) Q: Where is the support section on the GFT website?

A: For information, documents, and answers to common trading and account questions, GFT Support can be found here: http://www.gftasia.com/Help/.

iv) Q: How can I contact GFT with further enquiries?

A: You can contact us using live text chat, email or other methods at: http://www.gftasia.com/Contact/.

v) Q: Where is your Singapore GFT office located?

A: We are located at:

61 Robinson Road
#16-01 Robinson Centre
Singapore 068893
+65 6227 5519 [ Main ]
+65 6227 5991 [ Fax ]
www.gftasia.com [ Website ]

For information on our locations worldwide, please refer to the following link: http://www.gftasia.com/Contact/.