Client Acknowledgement

Transcription

1 Client Acknowledgement Account Opening You must read this Client Acknowledgment, the Personal Data (Privacy) Policy, Terms and Conditions and its Supplemental and Risk Disclosure Statements carefully before you sign the Client Service Agreement. By opening a bullion investment margin trading account, you confirm that you are liable to any legal or regulatory restrictions on dealing in securities through Wing Fung Bullion Investment Limited. If in doubt, please consult with your legal advisor, regulator or authority before opening a bullion investment account. Please bring along relevant supporting documents and visit our office in person during business hours to open an account or visit our website for online application. WING FUNG BULLION INVESTMENT LIMITED Address: 20/F, Wing On House, 71 Des Voeux Road Central, HK (Headquarters) Address: G/F, 8 Fook Hong Street, Yuen Long, NT, HK (Branch) Hotline: (852) / Toll Call : Hotline: (852) / Toll Call : Fax: (852) Fax: (852) cs@wfgold.com cs@wfgold.com Office Hours: 9:00 a.m. - 6:00 p.m. (Monday to Friday) Office Hours: 8:45 a.m. - 7:00 p.m. (Monday to Friday) 10:00 a.m. - 5:00 p.m. (Saturday) Account Type Individual / Joint Account Documents to be signed and submitted: 1. Client Service Agreement 2. Copy of Identity Documents (HK ID Card or Passport) 3. Proof of address within the recent three months 4. Copy of Bank account proof Corporate Account Visit our office in person to sign an Agreement together with the submission of the following supporting documents: Corporate Account Hong Kong Registered Company 1. Board Minutes (for a/c opening, appoint a/p & other operation instruction) 2. Certified true copy of Business Registration Certificate 3. Certified true copy of Certificate of Incorporation 4. Certified true copy of Memorandum & Articles of Association 5. Certified true copy of the latest Annual Return (including any changes reported to Companies Registry) 6. Bank Reference 7. Proof of address within the recent three months 8. Guarantee and Indemnity 9. I.D. Copies of all the Directors, Authorized Persons in operating the account & Guarantors 10. Address Proof of Guarantor Corporate Account Non Hong Kong Registered Company (eg. BVI Co.) 1. Board Minutes (for a/c opening, appoint a/p & other operation instruction) 2. Certified true copy of Business Registration Certificate 3. Certified true copy of Certificate of Incorporation 4. Certified true copy of Memorandum & Articles of Association 5. Director Register 6. Shareholder Register 7. Bank Reference 8. Proof of address within the recent three months 9. Guarantee and Indemnity 10. I.D. Copies of all the Directors, Authorized Persons in operating the account & Guarantors 11. Address Proof of Guarantor 12. A certificate of incumbency or equivalent issued by the company s registered agent in the place of incorporation (included but not limited to the company report issued by the registry in the place of incorporation) *a certified true copy of a certificate of incumbency certified by a professional third party and the certificate of incumbency should have been issued within the last 6 months. * Clients who cannot provide sufficient documents or proof of financial status, the Company reserved the rights to reject any application in any situation without any further explanation. 1 金銀投資客戶交易須知 _EN_201502

2 Fund Deposit / Withdrawal / Transfer Fund Deposit 1. Deposit into Bank Client can deposit fund by cash, crossed cheque, ATM transfer or TT into the following bank account in the name of Wing Fung Bullion Investment Limited : Hang Seng Bank (HKD Settlement Platform) (USD Settlement Platform) HSBC (HKD Settlement Platform) (USD Settlement Platform) Bank of China (Hong Kong) (HKD Settlement Platform) (USD Settlement Platform) *All non-settled currencies deposited will be converted into the settlement currency according to the exchange rate on the date of receipt. Note 1: The verification time for deposit to Hang Seng Bank and HSBC: - Deposit on normal working days in Hong Kong: From 9:00 am to 6:00 pm - Transfer within the same bank on normal working days in Hong Kong: From 9:00 am to 1:00 am. (Depends on bank s arrangement) - No verification services will be available during Saturday, Sunday, Non-Trading Days and Public Holidays. Note 2:The verification time for deposit to Bank of China (Hong Kong): - Deposit on normal working days in Hong Kong: From 9:00 am to 6:00 pm - Transfer within the same bank on normal working days in Hong Kong: From 9:00 am to 0:00 am mid-night. (Depends on bank s arrangement) - No verification services will be available during Saturday, Sunday, Non-Trading Days and Public Holidays. *For deposit through banks, client is required to fax the deposit slip to (852) or the China Fax or to cso@wfgold.com for verification. Please call (852) or China Toll Call to confirm with our Settlement Department. 2. Online Payment Platform Clients who are holding a debit card issued by a card issuing bank/institution, and have registered Online Transfer Services. Then you will be eligible to use Online Payment Platform to transfer your fund into your trading account at Wing Fung. Please note that the Online Payment Platform will take specified percentages of your overall transfer amount as administration charge, please contact our CS for details. About the exchange rate & daily transfer limit, please check with your card issuing bank/institution for details. Fund Withdrawal 1) Clients are able to download the Client's Withdrawal Instruction Form. Please fill out the form and fax it to (852) or China Toll No or it to cs@wfgold.com and call our Settlement Department at (852) or China Toll No for confirmation. 2) Sending withdrawal instruction to cs@wfgold.com by registered address. # the requested amount will only be transferred to client's pre-registered bank account. 3) Call (852) for withdrawal request, and our settlement staff will call back at client s registered phone number for voice-recorded confirmation. # the requested amount will only be transferred to client's pre-registered bank account. Note 1: If cash withdrawal instruction is made before 2pm, the fund will be deposited to the assigned bank account under client s name to HSBC, Hang Seng Bank or Bank of China through our automatic transfer system. Note 2: If cash withdrawal instruction is made after 2pm, the fund will be deposited on the next working day through our automatic transfer system. If client would like to receive the cash withdrawal in cheque (Only allow to issue crossed cheque to the bank account under client s name), please indicate in the cash withdrawal instruction and state the cheque collection date at our office. (Two working days notice should be given prior to collection date for arrangement). Fund Transfer & Allocation 1) Client can submit a written request to transfer the fund between HKD Settlement Account and USD Settlement Account under the same registered name. For cash withdrawal instructions, please fax to (852) or to cs@wfgold.com. 2) Cash transfer instruction can be made by phone, please call (852) or China Toll No Upon received your instruction, our Settlement Department will contact your registered phone no. again for recorded confirmation. Interest No interest will be given to the credit balance of bullion investment trading account. 2 金銀投資客戶交易須知 _EN_201502

3 Order Placing & Order Confirmation 1) Clients can place order via phone, internet by himself or by his/her Account Executive; 2) Executed order records will be acknowledged and confirmed via phone, internet or daily statements. Confirmation Cash deposit/withdrawal/transfer instruction given by client via phone or fax will be acknowledged by or daily statement. Trading Order There are different types of order facilities available to our clients such as Limit Order, Stop Order and One-Cancel-The-Other Order (OCO). Clients may adjust their order validity for either a single day period (Day Order) or until Friday of the same week (GTF). Clients are responsible to ensure that there is sufficient equity in their account before placing any orders. For enquiries, please feel free to call customer services hotline for details: (852) or China Toll No Buy Limit Order A Buy Limit Order may be defined as a facility, which enables clients to either liquidate their existing positions or open new positions at a price more favorable to the clients that the current market price may offers. For example, the current market price for LLG is USD /oz and the client places a Buy Limit Order at USD /oz to increase the return. Sell Limit Order A Sell Limit Order may be defined as a facility, which enables clients to either liquidate their existing positions or close new positions at a price more favorable to the clients that the current market price may offers. For example, the current market price for LLG is USD /oz and the client places a Sell Limit Order at USD /oz to increase the return. Buy Stop Order An order to buy a product which is entered at a price above the current offering price. It is triggered when the market price touches or goes through the buy stop price. If the price exceeds the price you have set, it will automatically trigger a market order. For example, the current market price for LLG is USD /oz and the client places a Buy Stop Order at USD /oz to limit the risk. Sell Stop Order An order to Sell a product which is entered at a price below the current offering price. It is triggered when the market price touches or goes through the sell stop price. If the price exceeds the price you have set, it will automatically trigger a market order. For example, the current market price for LLG is USD /oz and the client places a Sell Stop Order at USD /oz to limit the risk. One-Cancel-The-Other Order; OCO A contingent order involves two different execution prices with one places above and the other below current market rate. The implementation of either one of the execution prices will immediately trigger the cancellation of the other. For example, a customer bought 1 lot of LLG at USD /oz and places an OCO order to square the position at USD /oz as a Sell Stop Order and a Sell Limit Order at USD /oz for profit taking. Day Order The order remains valid for the day unless it is filled or cancelled by the client prior to execution. Good Till Friday (GTF): Good Till Friday (GTF) means order is only effective until Friday or the last trading day of the week or canceled by client during the order placing week. *** All orders are limited to execute during our trading hours, the Company has the rights to reject or cancel all the instructions. *** When giving trading instructions by phone, please remember to state if it is opening a new position or closing a position, otherwise all transactions will be executed according to First In First Out principle. *** All trading order should place away the real time market price at least: LLG US$2.0-, HKG HK$15-, LLS US$0.2-, XPT US$10.0- & XPD US$10.0- *** During huge fluctuation condition, trading orders (stop-loss/limit) may be impossible to execute and the order will be cancelled. Wing Fung Bullion Investment Limited reserves the rights at its sole discretion to change or amend any terms of above trading rules & regulations without any prior notice.) 3 金銀投資客戶交易須知 _EN_201502

4 Bullion Investment Trading & Settlement Hours Trading Hours Monday or The Day after Holiday Tuesday to Thursday Friday 6:00a.m. to Next day 5:00a.m 7:00a.m. to Next day 6:00a.m 5:00a.m. to Next day 5:00a.m 6:00a.m. to Next day 6:00a.m 5:00a.m. to Next day 3:00a.m 6:00a.m. to Next day 4:00a.m Bullion Investment Products Trading Rules Product Contract Size Initial Margin Cut-off / Locking Margin Friday or Wing Fung Designated Holiday Eve Cut-Off Margin Requirements Loco London Gold (LLG) 100 oz Hong Kong 99 Gold (HKG) 100 Tael Kilo Gold (KGG) 3,000 g Loco London Silver (LLS) 2,500 oz Platinum (XPT) 25 oz Palladium (XPD) 50 oz (Note: The content herein is for reference only and is subject to amendments from time to time without prior notice) Custodian Fee HK$20 / US$2.57 per day Commission Fee Definition of Wing Fung Designated Holiday: Hong Kong Public Holiday and US designated market Holiday#. * Friday and Wing Fung Designated Holiday Eve Cut-Off Margin Requirements: On every Friday or Wing Fung Designated Holiday Eve (the previous trade day of Hong Kong Public Holiday or US designated Market Holiday), for any client s account equity falls to or below Friday and Wing Fung Designated Holiday Eve Cut-Off Margin Requirements (HKD settlement - HK$10,000/lot or USD settlement - US$1,300/lot) at its closing, all open positions will be liquidated at closing price without any previous notice. Margin Policies Initial Margin & Maintenance Margin Initial margin is the required amount for client to open any position; client account Equity must be maintained at or above 75% of the account initial margin. Margin Call Margin Call will occur when your account Equity falls below 75% of initial margin. Under any condition Client should liable and required is to keep the Equity return to the initial margin level. Client may deposit the required amount and confirm with our settlement department or liquidate any part or all of the opened position to revert the Equity not less than full amount of initial margin. If the client cannot satisfy our margin requirement within our requested period, we may liquidate any part or all your open position without prior notice. Issuance of Margin Call Margin call will be issued to client via phone, or SMS (if applicable) to provide details on additional amount of margin required and any other requirement required for the outstanding position(s). Closing out position by automatic stop-loss 1) For any client s Equity in his/her account falls to or below 10% of the initial margin, the trading system may automatically close out all of his/her outstanding position 2) If the opening price after the weekend or market holiday has led the client's Equity falls to or below 10% or even be negative, those positions will be liquidate at the opening price, if there is any negative balance in the account, client is liable to it. 3) *On every Friday or Hong Kong Public Holiday Eve(the previous trade day of Hong Kong public holiday), for any client s account equity falls to or below 100% (HKD settlement - HK$10,000/lot or USD settlement - US$1,300/lot) of its initial margin at its closing, all open positions will be liquidated at closing price without any previous notice. 4 金銀投資客戶交易須知 _EN_201502

5 Note (1) Acknowledgment and confirmation will be given to on-line trading client for any closed out position executed by Wing Fung Bullion Investment Limited via . Note (2) Acknowledgment and confirmation will be given to phone trading client for any closed out position executed by Wing Fung Bullion Investment Limited via phone or fax. Note (3) A margin call will be initiated for all outstanding position(s) at permissive conditions; however, due to a variety of conditions (including drastic fluctuations of market price), which may fail to ensure timely contact with client before the automatically liquidation. Therefore, Customers must monitor the market regularly, and make sure there is sufficiency of cash in an emergency. Bullion Investment Products Trading Commission and Fee Item(s) Charges Commission Services Fee for Retrieving Monthly Statement Statement Reprint HK$50.00 per month if exceed current 3 months Service Fee for Photocopying HK$2.50 per page Other Services Returned Cheque Charge HK$ per transaction Fund Transfer by CHATS (Subject to bank charges) # Dormant Account Management Fee# HK$50.00 or USD 7.00 / Half Year Statement to Client's Employer Posting / Courier Fee (Subject to Post Office / Courier charges) Telegraphic Transfer (Subject to bank charges) # Dormant Account Management Fee - Account with equity balance below HK$400 / US$50 as at 31 March and 30 September of each calendar year and dormant (no any cash movement and transaction) for more than half year, the company may charge HK$50 / US$7* as a management charge for the dormant account on the next mouth. When the equity balance in your account is below or equal to zero, the company will temporarily suspend your account unless further notice and arrangement is received from client. Others 1) Joint account has authorized the Company to accept either one joint account holder (the person) who has the right to give any instructions to the Company independently (included but not limited to verbal and written instructions (where applicable)), to handle any operations of the account and on behalf of other joint account holder to exercise such under the terms of the rights, powers and discretion. The Company can follow any instructions given by that person while not require to issue the notice of the instructions to other joint account holder, or obtain the authorization issued by other joint account holder. The Company has the absolute discretion to decide whether to accept the instructions. For the acceptance of the consequences, the Company shall not bear any responsibilities. 2) Client have already fully read, understood the Client Acknowledge, the Personal Data (Privacy) Policy, Terms and Conditions and its Supplemental and Risk Disclosure Statements set out in the Terms and Conditions of the Company. Client also agreed, accepted and acknowledged all contained in this Terms and Condition. 3) The Company shall have absolute rights to amend, delete or substitute any of the terms herein or add new terms to the Agreement. An amendment notice and the revised Agreement will be posted at Wing Fung Financial Group Website at The Client should visit the Wing Fung Financial Group Website from time to time for obtaining the latest Agreement and read the terms thereof. Such amendment, deletion, substitution or addition shall be deemed as effective and incorporated herein (and shall form part of the Agreement) on the date of publication of such amendment notice. The Client may raise written objection within fourteen (14) days after the publication of such amendment notice at the Wing Fung Financial Group Website. Failing which, it shall be deemed an acceptance of such amendment, deletion, substitution or addition. ** The Company reserves the rights at its sole discretion to change or amend the above terms without any prior notice ** 5 金銀投資客戶交易須知 _EN_201502