Frequently Asked Questions
What is the procedure for opening an account with JMI?
Two Ways to Open Your JMI Brokers trading Account
The fastest and easiest account opening method available. Complete your application online. (Recommended)
- Download the Customer Account Agreement.
- Read complete and sign the Agreement, ensuring you have fully understood all terms and conditions.
- Please send the following pages either by fax +971 2 6594 258 Or scan the documents and email them to firstname.lastname@example.org Pages 3, 4,5, 6,7,10, 19 and 24 from the customer account agreement For Individual accounts you need to enclose a clear copy of your valid passport and a utility bill (ex. telephone or electricity) as proof of residence.
- When we receive the requested documents we will check your applications, once accepted our staff will set up an account for you and they will send you a confirmation letter containing your username and your password , you must sign it and send it either by fax +971 26594 258 or scan it and email to email@example.com
- Once we receive the signed confirmation letter your account will be ready and you can wire the Funds to our Bank Account.
WHEN CAN I START TRADING?
- Upon receiving your application, our compliance department checks and validates it for approval. The approval and set up process required approx. 2 business days for Individual Accounts and approx. 3 days for Corporate Accounts to be completed.
- Once approved, our Back Office will then set up your account and contact you with your Account Number (login and password) and wiring instructions to fund your account.
- Before you can begin trading, you will need to fund your Trading Account by wiring payment to our bank with the requisite funds. Third party transfers are not acceptable. Learn how to fund your account.
- Once we have received your wire transfer, we will immediately credit your Trading Account. This process may take up to 2-3 days depending on how long the wire transfer takes.
- You can start trading as soon as your Trading Account has been credited.
How do I transfer my funds?
- JMI Brokers can only accept funds that have been wired from an account that carries the name of the client. In conformity with Dubai Anti-Money laundering laws
Can I transfer funds from my trading account to another client trading account?
- No, it prevents the transfer of funds between different clients' accounts , it also prevents the conversion of any third party .
Is it possible to open more than one account with the JMI?
- Yes , in fact you can open several sub-accounts belonging to the main your account , and open a sub account , simply print and fill the sub-account application form and send it to us via fax or e-mail .
Are you managing money ?
- JMI Brokers only excutes online service , we do not provide account management service .
Is documents to open the account with JMI Brokers available in different languages ?
- At present , the model account agreement is only available in English , this service will be available soon in German , Spanish , Portuguese , Italian, Russian , Chinese , Japanese , and Arabic.
Are you take any fee or commission when you open an account with JMI?
- JMI does not charge any commission at the moment , but there will be charging for futures
Why should I provide you with documented with a copy of my passport?
- This is a control measure required by the Anti-Money Laundering Authority in Dubai , so as to ensure make sure the person who wants to open an account and seriousness in it.
Can I open an account in case I did not have a passport ?
- Yes , you can provide any identification document with a photo and signature , where it is considered acceptable.
Can I withdraw my money whenever you want it?
- Yeah! Just send a request to withdraw money to us by fax , and we will transfer the funds to your bank account .
Is JMI Brokers entry and exit strategies of the deal accepted in a short time (Scalping)?
- JMI doesn't accept (Scalping) strategies.
Does JMI Brokers accept arbitrage strategies (arbitrage)?
- JMI doesn't accept arbitrage strategies (arbitrage) and any account uses these strategies will lead to a suspension of the account .
Does JMI Brokers accept High Frequency Trading?
- JMI doesn't accept High Frequency Trading and any account uses these strategies will lead to a suspension of the account .
Are there any guarantees on your part with respect to the pending orders profit or loss orders ?
- Yes , your will take it into account when the price referred to before, except when the market opened after the weekend , or any other holiday , or in the period of the usual market break , then you will take your order at the opening price .
What is the minimum to open an account with JMI?
- The minimum to open an account with JMI Brokers is US $ 500 .
Can I trade deals with small JMI Brokers procedure ?
- Yes , the JMI Brokers allows small trading transactions for all accounts . The minimum is 0.1 points, and the deal ( $ 10,000 ) .
Does the JMI Brokers to impose interest on the outstanding balance of my account ?
- No, there is not any interest on your account.
What is the policy of " do not save the margin " ?
- Intended not save our own margin policy that our clients can go below the margin requirements and without the JMI Brokers to close their positions. This week, these centers can fluctuate and do JMI Brokers without taking any action on its part, we only ask that you keep the margin requirements for accounts of more than $ 500,000 by Friday evening. The Do not save the margin policy also means we do not make a margin call as we do not close the centers automatically if you go below the margin requirements of your positions, however, if your stock has reached to zero you should stop and your positions will be closed. The implementation of the suspension will be only when it is required of the abandoned stocks in less than 1% margin account level.
When it became without the margin ?
- When the margin level up to less than 1% or less from scratch .
Do you accept clients from certain countries only ?
- No, customers can from all over the world open an account with JMI.
In the event I covered my position on a certain pair , will my margin will be zero on this pair ?
- Yeah! When covering the center will turn your margin to zero on this pair .
Does the platform allow the coverage ?
- Yes ( you can use long and short positions of the same pair )
Do you increase margins in volatile market?
- No! JMI Brokers does not increase the margins in the volatile market , we offer our customers a consistent policy for the sidelines .
What is the leverage provided by JMI Brokers ratio ?
- Accounts of up to $ 10,000 offer leverage of 1: 200 , which accounts for up to $ 1,000,000 offer leverage of 1 : 100 , and for accounts in excess of $ 1,000,000 be leverage by 2 : 100 .
JMI Brokers is a Financial Service Provider Company registered, authorized and holds a Principals license from Vanuatu Financial Services Commission (VFSC) as “Dealers in Securities” to scarry on the business of dealing in securities under license number 15010
"Securities" means (as from the 2012 amendment) - (a) shares in the share capital of a corporation; or (b) an instrument that creates and acknowledges the indebt - securities that is issued by a corporation or a public office including: (i) debentures; or (ii) debenture stock; or (iii) loan stock; or (iv) bonds; or (v) certifications of deposit; or (c) a right, despite whether or not conferred by warrant, to subscribe for shares or debt securities; or (d) a right under a depositary receipt; or (e) an option to acquire or dispose of any security falling within any other provision of this Act; or (f) a right under a contract for the acquisition or disposal of the relevant securities under which the delivery is to be made at a future date and at a price agreed when the contract is made in accordance with the terms of that contract; or (g) the proceeds of Foreign Exchange; or FOREX (h) the proceeds of precious metals; or (i) the proceeds of commodities.
High Risk Investment Warning: Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the products offered by JMI Brokers you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. JMI Brokers provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. JMI Brokers recommends you seek advice from a separate financial advisor.
All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument.