To open a DIFX brokerage account with Emirates International Securities L.L.C. (EIS) for the purpose of engaging in equity trading in DIFX, the following requirements need to be met:

• The prospective applicant should first open a USD account (suffix 139) with any of the Emirates Bank branches.
• At the time of opening the USD Investment Bank Account with Emirates Bank, the client should simultaneously fill up a brokerage mandate to open the DIFX Brokerage Account with EIS and it should be handed over to the Emirates Bank Branch in which the USD Investment Bank Account (for the purpose of trading in DIFX) was opened.
• Along with the duly completed brokerage mandate, the following documents should also be submitted:

New clients:

• Photocopy of the passport and the Khulasat Al Qayd (family book) if the applicant is a UAE national
• Photocopy of the passport to include the valid resident visa page, along with another form of identity, acceptable to the Brokerage (E.g. Driving License, staff ID), if the applicant is a non-UAE national.
• Electricity or telephone bill etc (to establish the permanent address)

If an account is to be opened under Power of Attorney granted to another individual, the account opening documents should be signed by both the client and the attorney in the spaces provided in the mandate. The POA document should be valid and a copy of the POA should also be provided for opening the account.

The documents required to open brokerage accounts for other entities (proprietorships, Partnerships & Companies) are listed below:
 

Sole Proprietorship

• Trade License
• Commercial Registration
• Original Passport of the proprietor & photocopy of same
• Company stamp

Partnership

• Trade License
• Original Passports of the Partners & photocopies of same (in addition of family book for UAE nationals).
• Commercial Registration Certificate
• Notarized partnership agreement
• Company stamp

Limited Liability Company

• Commercial /Trade License
• Original Passports of directors / share holders & photocopies of same ( if UAE Nationals – Khulaset Qayd, in addition)
• Commercial Registration Certificate
• Memorandum & Articles of Association
• Resolution from the board of directors authorizing to open a brokerage  account
• (Agreement) No Objection letter to open & operate the  account with EIS signed by the Authorized signatories or the nominated person
• Company stamp

For existing EIS clients who already have share investment accounts with EBI and brokerage accounts with EIS, the following documents should be presented:
 

• Photocopy of the passport and the Khulasat Al Qayd (family book) if the applicant is a UAE national
• Photocopy of the passport to include the valid resident visa page, along with another form of identity, acceptable to the Brokerage, (E.g. Driving License, staff ID), if the applicant is a non-UAE national.

EIS will receive the duly completed Brokerage Account Opening form from respective Emirates Bank branches and would arrange to open the brokerage account for DIFX trading on behalf of the prospective investors. A new trading brokerage account will be created by EIS which will be made known to the client via telephone.

Fees & charges

• There is no minimum balance required for opening the investment accounts in USD
• There are no fees for opening a brokerage account with EIS
• There are no fees or any extra charges for trading in DIFX through EIS or receiving any of the brokerage services provided, except for brokerage commission on trades which is fixed @ 0.275% or USD 75/-, which ever is higher
• Custody Fee will be charged with effect from May 2008, based on month end inventory value and the charge applicable would be USD 1 (one) or 5 (five) Basis Points per annum (0.05% / 12) which ever is higher.