435-656-8430  info@investlucid.com

Open Account

OPENING AN ACCOUNT TUTORIAL


Opening a Lucid Forex Managed Account is quick and easy.

1. You will need to open up an account with Dukascopy.  They are the broker we use that handles our PAMM accounts.  If you should any any question please feel free to contact us or you may contact our rep at Dukascopy.  They will walk you through the process to open a live forex trading account. Please make sure on step one that you click Managed Account then you need to pick MGFX (MEGA GALA FX) on the drop down box.


http://www.dukascopy.com/swiss/english/forex/FX-Interbank-Account/




WWW.DUKASCOPY.COM


Our Contact:


Conrad D’Souza

Conrad.dsouza@dukascopy.com

Tel: +41 (0) 22 799-4888

fax: +41 (0) 22 799 4880


SHIPPING ADDRESS


Dukascopy (Suisse) SA

ICC,Route de Pre-Bois 20

            1215 Geneva 15

                    Switzerland




If you have any question please contact us by email or phone.


Steps to open a live trading account:

 

STEP I - Fill-in

STEP II - Double-check

 

Please, make sure that the Account Opening Request contains:

 

For an individual account:

  1. Duly signed and filled-in Trading Agreement, the Request for the Opening of an Account and Customer Bank Account Details forms; (originals)
  2. Certified/notarized/authenticated copy of an ID card or passport containing a clearly visible signature and photo of the account holder, for the beneficial owner and authorized signatories. (In all countries certification may be performed by a public notary or Public Entity: police station, ministry of justice, ministry of the interior or town hall). Original of the certified copy) must be provided!
  3. A copy of a utility bill not older than three months, showing proof of your address (as indicated in your electronic registration form).
  4. Business Card, if possible
  5. Limited Power of Attorney form

For a legal entity account:

  1. Duly signed and filled-in Trading Agreement, the Request for the Opening of an Account and Customer Bank Account Detail forms, (originals).
  2. Certified/notarized/authenticated copy of an ID card or passport of all of the authorized signatories and of the beneficial owner(s). Original of the certified copy must be provided!
  3. A proof of the residence of the beneficial owners of the company (for example a copy of the utility bill).
  4. Full set of the corporate documentation, including the following:
    1. Certificate of Incorporation (if the Certificate of Incorporation is dated more than 12 months ago, a Certificate of Good Standing/Certificate of Incumbency is required, dated less than 6 months ago).
    2. Extract from Commerce Register dated less than 6 months old.
    3. Corporate Power of Attorney for all of the signatories of the account with Dukascopy (the corporate documents must be submitted in the form of apostilled originals or apostilled copies)
    4. The Memorandum and Article of Association.
    5. Nomination of First Directors and non-interrupted nomination of further Directors (Not necessary if a Certificate of Incumbency is enclosed).
  5. The Corporate Resolution that authorizes to open an account, nominating the persons authorized to sign the opening documents and nominating the persons authorized to handle the account, mentioning authorization to invest in highly speculative instrument.

STEP III - Send

 

The Account Opening Request is to be sent by mail or courier service to the following address:

Dukascopy (Suisse) SA
ICC, Route de Pré-Bois 20
1215 Geneva 15
Switzerland




WHY DUKASCOPY?

Dukascopy (Suisse) SA is a regulated Swiss financial institution, currently in the stage of applying for a banking license, with a shareholder capital of 22 000 000 CHF.

Dukascopy (Suisse) SA is a forex broker which provides foreign exchange trading services based on the following main principles:

Equal trading rights
– all clients have equal possibilities to provide and consume liquidity within the trading environment (marketplace business model);

Transparent pricing environment
– all clients have access to the same liquidity at equal prices through a single datafeed.

Whilst developing its unique trading environment and providing professional Forex trading services Dukascopy has chosen the following priorities:
  • Security of the funds
  • Lucrative spreads (EUR/USD 0.5 - 1 pip, GBP/USD 1-2 pips)
  • ECN liquidity (100 – 200 mio on Majors)
  • Wide range of trading orders (including stop-loss and limit)
  • Instant execution
  • No price and execution manipulations
  • Equal prices and liquidity for all clients
  • Advanced trading technologies
  • 24/6 phone trading support
  • Access to sophisticated analytics and news
  • Technological stability

HOW IT WORKS

Percent Allocation Management Module (PAMM)
The Percent Allocation Management Module (PAMM) is a technical solution provided to clients and allowing them to have their accounts managed by a trader appointed by them on the basis of a limited trading power of attorney. PAMM solution allows the trader on one trading platform to manage simultaneously unlimited quantity of managed accounts. Managed accounts can be funded in different currencies and deposited with different institutions. Depending on the size of the deposit each managed account has its own ratio in PAMM. Total sum of all ratios under one PAMM account is always equal to 100%. Trader’s activity results (trades, Profit & Loss) are allocated between managed accounts according to ratio.

PAMM trading has no difference in comparison with self trader platforms, all 3 types are available.

PAMM Functional Specification:
  • Possibility to add and/or remove funds and accounts without interrupting trading activity;
  • Ability to manage through one trading platform unlimited quantity of multi currency accounts;
  • Choice of base currency for the trader’s platform;
  • Immediate trade allocation between managed accounts;
  • Performance fee calculation functionality;
  • Ability to block trading facilities for particular managed accounts;
  • Interactive functionality to accept/decline new managed accounts;

Complete the form below and we will guide you through the account opening process:


First Name                           


Last Name                                 


Email                                


Phone                             


Account Type                   Individual Account      Corporate      Trust Account



Comments

                                        






RISK DISCLOSURE......ALSO READ DISCLOSURE A THE BOTTOM OF PAGE OR CLICK HERE

Note: This is not a solicitation to invest. To invest the Account   Documents must be read and agreement forms signed.

Secondary Risk Disclosure: High Risk Investment

 

Forex Trading is considered one of the riskiest forms of investment available in the financial markets because it permits you to trade foreign currencies on a highly leveraged basis. The funds in an account trading at maximum leverage can be completely lost and potential losses are not limited to the amounts on deposit in your account. Given the possibility of losing an entire investment, speculation in the foreign exchange market should only be conducted with risk capital funds that if lost will not significantly affect your personal financial well being. If you fall into any of the following categories, you should be aware of the additional risk disclosures set out below:

  you are retired;
  you have no prior futures, options or securities trading experience;
  your annual income is less than $25,000 or net worth is less than $50,000;
  you are investing retirement funds (such as Keogh, IRA, 401K etc.);
  you are aged 65 or over.

If you have pursued only conservative forms of investment in the past, you may wish to study currency trading further before continuing an investment of this nature. You must realize that you could sustain a total loss of all funds you deposit with your broker as initial margin as well as substantial amounts of capital, when trading currencies or currency options, should the market go against your investment. You must also realize that the limited risk in buying options means you could lose the entire option investment should the option expire worthless. If you wish to continue with your investment, you acknowledge that the funds you have committed are purely risk capital and loss of your investment will not jeopardize your style of living nor will it detract from your future retirement program. Additionally, you fully understand the nature and risks of currency and currency options investments, and your obligations to others will not be neglected should you suffer investment losses.

The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses.

 
Past performance is not indicative of future results.

Market conditions change, some start at different times so performance records are different. Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. More over, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you.