Live accounts

Questions

Answers

  • Why do you ask for my personal financial and employment information?

    We are required to comply with industry 'Know Your Customer' (KYC) requirements to identify our customers and check they are who they say they are. We are required to verify your identity and obtain information about your source of income and wealth and level of experience with financial products. Security of clients' personal information is of the utmost importance to us. For more information, please read our privacy and security policy, which explains in more detail how we deal with the personal information that you provide us.

  • Can I have more than one account?

    You can have separate accounts denominated in Singapore dollar, US dollar and Hong Kong dollar. Any request for multiple accounts in the same currency would be considered on a case-by-case basis.

  • How do I apply for an account with CMC Markets?

    Apply now for a demo or live account with CMC Markets. Please remember that losses can exceed any deposits.

  • I have been asked to provide certified documentation. What does this mean?

    Depending on your circumstances and the region you are a resident of, we may request that the documentation you submit to us is certified. A certified copy is a copy of an original document that has been endorsed as a true copy of the original by an approved individual. Examples of approved individuals who can certify documents include: 

    • Lawyer 
    • Notary public 
    • Commissioner of oaths
    • Accountant 
    • Bank manager 
    • Doctor 
    • Ambassadorial staff 
    • Law enforcement official

    The endorsement or stamp needs to appear on the page that shows the information required. We are not able to accept a certified document with the certification on a separate page. 

    The certification on all certified copies should include:

    • The statement: “Certified to be a true copy of the original”
    • The name and signature of the person who has certified the document
    • The certifier’s job title
    • The certifier’s telephone number
    • The certifier’s company stamp, if applicable or their address
    • The date of the certification

    We are able to set up your account with scanned copies of your certified documents. However, you need to send us hardcopies of the certified documents within two weeks of opening your account in order to withdraw funds.

    Translated documents must be annotated with the wording “True translation” and must be signed and dated by the translator.

  • What documentation could I be asked to provide?

    After you have completed an application, we will require the following documents to open your account:

    • A signed copy of the Client Acknowledgement Form.
    • Proof of identity - a valid photo ID (NRIC), passport or driving licence; 

    If your proof of identity document does not show your current residential address, we will also require:

    • Proof of address - any one of the following documents, dated in the last three months, clearly showing your current residential address:

    - Bank / Credit Card Statement

    - Town Council Service and Conservancy bill

    - Singapore Power utility bill

    - Cable TV Bill

    - Telecommunication / Internet Bill

    - Insurance / Statement / letter

    - Any Bill/Statement/letter from a government agency or statutory board participating in the One-Stop change of address reporting service

    As we will require a copy of your bank statement to withdraw funds from your account, it may prove simplest to provide it with your application, as your proof of address.

    For Singaporeans, you can simply bring your NRIC card to our office from 9am to 7pm, Monday to Friday. Our address is:
    CMC Markets, 50 Raffles Place #14-06, Singapore Land Tower, Singapore 048623

    If you can't make it to our office, you can provide legible photos of these documents via email or by fax. Alternatively, you can post the documents to us.

    Overseas applicants should send the equivalent documents from the list above, from their respective jurisdictions. Please contact us should you have any queries in this respect.

    In certain cases we may require further documents. We will be in touch with you directly should this be the case.

  • How long does it take to process an application for a live account?

    Our aim is to help you start trading as quickly as possible. We typically process applications in one to three working days.

    However, there may be cases where additional documentation is needed before we can process your live account application.

    If you reside outside Singapore, the account opening depends on how quickly you can provide us with the required supporting documents.  Once you have submitted your documents, we will contact you within the business day.

  • Do you have a referral scheme / refer-a-friend scheme?

    Yes, simply fill in the referral scheme form to refer a new client to CMC Markets, and you will both receive $150 - or $250 if you are a Premium Client - when they start trading. Click here for the Terms and Conditions which apply to the standard offer and here for those which apply to the Premium offer.

  • How can I switch accounts?

    On the iPhone app, tap the ‘More’ button, then ‘Switch Accounts’. On the Android app, select ‘Switch Accounts’ on the left side menu.

  • Do I need to deposit any funds to activate my account?

    You can sign in to your account as soon as you have received notification that your application has been successful and you have clicked on the verification link sent to your registered email address. However, you won’t be able to place a trade unless there are sufficient funds in your account to hold an open position. If you prefer to test strategies in a risk-free environment, our free demo account will allow you to practise trading with virtual funds.

  • I'd like someone to trade on my behalf. Can I appoint someone to trade for me?

    Yes, you can give authority to another person to trade from your account on your behalf (a limited power of attorney). Please contact our Client Management team who will be able to assist you with setting this up.

  • I'd like to close my account. How can I do this?

    You will need to notify our Client Management team in writing, either from your registered email address or by post, to our registered office address. You will need to withdraw any funds in your account and provide full contact details and your account number. We may contact you by phone to confirm your closure. If we are unable to contact you by phone we will always send you an email. You may need to reply to that email to confirm your closure request.

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CFD trading can result in losses that exceed your deposits. Ensure you understand the risks.