Typical Account Opening Procedures for Broker Dealers

Typical account opening procedures for broker dealers. The illustration below briefly describes how account opening is done with our standard type CRM admin and client portal. The CRM is a critical tool so that brokers will find it easier to support their clients and carry administration duties. Compliance, operations, marketing, support and sales management tools within a single portal. Other than the standard account opening prescribed below, we offer customization to fit into your desired business model.

What Broker Dealers Typically Need From Clients To Carry Out KYC

  • Valid, current passport (national or international).
  • Valid, current Driver’s License.
  • Valid, current National ID Card.
  • Other types of government issued photo ID may be acceptable after review on a case by case basis.
  • World Check and internet screening to ensure client is not a PEP (Politically Exposed Person) or is in any form of criminal or money laundering activities

Typical Steps to Open An Account:

  • Client has to open an account at the portal
  • Upload documents
  • Vet and verify client on Admin CRM
  • Then client is able to open a Live or Demo account via the Client CRM Portal
  • Approve the Client Live account via the Admin Portal
  • Check if the client is an IB with the introducer or respective manager in charge
  • Notify client via Email that they can now fund the account
  • Notify the respective manager in charge or introducer that the client account is approved and ready for funding.
  • Support client in any operating queries via email or call

To know more on how our CRM Client and Admin portal can help you better manage your account opening for your business, please feel free to contact us

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