Q. What is the procedure, how long does it take?

A. There is a set procedure to follow:

  1. Submit a KYC (Know Your Client) package, complete with a copy of your passport and either a Bank Statement, or a copy of the Bank Instrument.
  2. The compliance department will complete due diligence on yourself and the funds or Bank Instrument which takes between 2-4 days depending on how busy they are.
  3. If you pass compliance a contract will be issued.
  4. If required there will be a call between between yourself and the compliance department to answer any questions you may have.
  5. You sign and return the contract.
  6. You contact your bank to either issue the required swift or put the admin hold block in place. This can take between 2-5 days depending on the Bank.
  7. Once the swift or block is in place the trade would start usually within  72 hours.