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Open an account

Open an account
The user can open a customer account by submitting a set of basic personal details online or through an offline application to KMEFIC. In either case the user has to sign and submit offline, the application form to KMEFIC.

For opening an account for trading on the US markets:

  • Non-Professional Subscriber
    The phrase "Non-Professional Subscriber" means any natural person who is neither: (a) Registered or qualified in any capacity with the SEC, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association. 
    (b) Engaged as an "investment advisor" as that term is defined in Section 201 (11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act). 
    (c) Nor,employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt.

 

  • Professional Subscriber
    The phrase Professional Subscriber" means all other persons who do not meet the definition of Non-Professional Subscriber.


Online acount opening
The form for opening an account is available upfront to the site visitors or registered member through the Open an Account link on all pages or through the Open an Account link on the LogOn page, which would appear when they click on the services reserved for a customer.
In case the user is a Registered member/Account holder and wants to open a Customer account, then he can log in (in case he is not already logged in) using his registered member/account User ID and password. This enables the KMEFIC system to access and provide him with the information that he had filled while registering online as a registered member. In case the user is a Site visitor, he can press next button to continue with the account opening process.

On clicking this link the site takes them through a set of user-friendly forms that contain the basic personal details that needs to be inputted, to become a customer. The form would also request the visitor to input a User ID and password, which he would use to log on to the site as a customer. The information that is required to be inputted depends on the type of account to be opened and whether he has applied for a account to trade on both the stock exchanges (US Stock Exchanges and Kuwait stock exchange) or only one of them. On successful completion of this online form the visitor has to submit a signed printout of the application to KMEFIC. This he can do by taking a printout himself or submitting a request to KMEFIC to take a printout and mail the form to him . 

  • Print Form
    The Customer can take a print of the completed and reviewed application form, sign it and submit it to KMEFIC in-person or through mail. 
     
  • Request KMEFIC to print the form
    The Customer after reviewing the completed application form online can submit a request to KMEFIC to print the form and mail him a copy. He would then sign the application and submit it back to KMEFIC in-person or through mail.

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Application Kit

The customer can order the account opening application kit via the phone, email or fax, from KMEFIC. This he can then fill and submit back to KMEFIC the signed application form in-person or through mail. The customer can also physically fill up the account application form and submit it at the KMEFIC office, which after doing the necessary verification would open his account.

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