Name
Long/Short Forex (Personal Margin Foreign Exchange Trading)
Introduction
Long/Short Forex is an exchange trading tool, which allows individual customers to use the quotation and trading platform provided by Bank of China to realize long and short two-way choices after depositing the trading margin in excess of the nominal amount of opening currency in advance. It includes Two-way Exchange Bao and Two-way Gold Bao.
Features
1. The product supports multiple currencies: The currencies for personal foreign exchange trading include eight foreign currencies: USD, EUR, GBP, JPY, CHF, AUD, CAD and HKD; the currencies for personal paper gold trading include USD gold and USD.
2. The product supports multiple trading methods: In addition to real-time trading, several entrusted pending order trading methods are available, including profit-making order, stop order, either-or order, additional order, chain order and more, to help investors better grasp the dynamic conditions of the international foreign exchange market.
3. Convenient and safe trading: Customers can carry out online trading with the new foreign exchange trading client of Bank of China equipped with long trading hours, allowing efficient, fast and convenient trading; Customers need to go through three defense lines (username, password and dynamic password) when logining, so trading is very safe.
Target Customers
All natural persons with full civil capacity can apply to Bank of China for Long/Short Forex service.
Process
1. Customers are required to open accounts to be used specifically for personal Two-way Exchange Bao and Gold Bao trading at Bank of China counters before they can handle personal Two-way Exchange Bao and Gold Bao trading.To open accounts, customers are required to hold valid identity documents and a Great Wall electronic debit card with current all-in-one account as its primary account. The Great Wall electronic debit card will be used as the contracted account for Two-way Exchange Bao and Gold Bao trading, namely, the funds settlement account (only one special trading account can be opened under one valid identity document and under one Great Wall electronic debit card). In addition, the following procedures should also be properly handled:
(1) Complete a Risk Preference Test for Customers of Bank of China Limited in order to confirm his/her own risk tolerance.
(2) Fill in the Application Form for Two-way Exchange Bao and Gold Bao of Bank of China Limited completely and faithfully.
(3) Sign a Trading Agreement with Bank of China.
(4) A bank teller will follow account opening procedures for customers via the system after verifying the customer information is without errors.
2. After completing account opening procedures of the margin account, customers are required to register on new foreign exchange trading client of Bank of China and bind the e-token (if customers have used Bank of China online banking, they can use the e-token for online banking; otherwise, they can apply for an e-token when opening the margin account);
3. Customers can download the New Foreign Exchange Trading System Client of Bank of China from the Bank of China portal site and successfully install the client by referring to the Installation Manual for the New Foreign Exchange Trading System Client of Bank of China. Then they can log into the trading interface to perform Long/Short Forex trading.
Illustration of Types of Valid Identity Documents
1. Chinese citizens
Chinese citizens over the age of 16 should present resident identity cards/temporary identity cards.
Chinese citizens under the age of 16 should have guardians to open personal bank accounts on their behalf by presenting valid identity documents of the guardians as well as resident identity cards or Hukou book of the account users (if the documents cannot effectively prove the relationship between the guardians and the account users, it is necessary to present valid certificates to prove the relationship at the same time).
For soldiers and armed police who haven't applied for resident identity cards, they can present their military identity cards and armed police identity cards. Overseas Chinese residing inside or outside China can present their Chinese passports.
2. Residents of Hong Kong, Macao and Taiwan
Residents of Hong Kong and Macau Special Administrative Regions should present their mainland travel permits for Hong Kong and Macau residents. Taiwan residents should present their mainland travel permits for Taiwan residents or other valid travel pass.
3. Foreign citizens
Foreign citizens should present passports or permanent residence permits for foreigners (foreign border residents should present passports or an entry-exit pass for foreign border residents issued by their home country).
Kind Reminder
1. This service is still in the promotion stage, for specific service scope, please consult local outlets of Bank of China or call the customer service hotline of Bank of China at 95566.
2. For more information on personal margin foreign exchange trading, please refer to the User Manual of the New Foreign Exchange Trading System Client of Bank of China.
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