Islamic Investment, Forex Trading, Commodities Brokers, Oil Trading - AFB

Open Standard Account

Open a Trading Account : Individual Account Application

Account Type:*
Individual Account Joint Account

Account Holder 1:

First Name:*	Middle Name:	Last Name:*	Residence Address:*


Apt. No:	City:*	State:	if other, please specify:


Postal Code:*	Country of Residence:*	Are You a US Citizen?:*	if no, what country?:
		Yes No

Phone Number:*	Fax Number:	Mobile Phone Number:	Email Address:*


Gender:	Date of Birth:
Male Female	//

Account Holder 2:

First Name:*	Middle Name:	Last Name:*	Residence Address:*


Apt. No:	City:*	State:	if other, please specify:


Postal Code:*	Country of Residence:*	Are You a US Citizen?:*	if no, what country?:
		Yes No

Phone Number:*	Fax Number:	Mobile Phone Number:	Email Address:*


Gender:	Date of Birth:
Male Female	//

Mailing Address (if different from above)

Residence Address:	Apt. No:	City:	State / Province:

Employment Information

Occupation:	Employer:	Nature of Business:*	Business Telephone:


Fax:	Business Address:	Suite No:	City:


State / Province:	Postal Code:	Country:

How did you hear about Arab Financial Brokers K.S.C.C.?:*
Friend Media Report Via Internet TV Referred By AFB Client Other (Please Specify)

AFB Client:	Other Way:

Security Question

Select Your Question:*	Your Answer:*

Risk Disclosure Statement:

I have read and understood the Risk Disclosure Statement as set out above.

Personal Banking Reference

Bank Name:	Account Number:	Account Holder:	Address:


Ciry:	State / Province:	Postal Code:	Country:


Telephone:	Branch Name:	SWIFT Number:

Trading Experience

Live trading experience only.
Select the number of years for each:	Number of Years Trading	Firm Name(s)
Foreign Currency
Futures
Other
Would you like to receive special e-mails from Arab Financial Brokers including valuable information about the Forex market?
Yes No

Trading Information

Customer Account Agreement:

I have read and understood the Customer Account Agreement as set out above.

Online Access Agreement:

I have read and understood the Online Access Agreement as set out above.

General Terms and Conditions:

General Rules
 All trading transactions are performed online through the trading platform.
 By-phone trading is an option only in emergencies.
 Any system failure may result into not executing the order according to your instructions or not executing the order at all.
 Trading accounts are basic and not equipped with the following facilities:
   o Choice of Leverage (accounts are set by default to 1-100).
   o Expert Advisors.
   o Other facilities.
Any of the above facilities should be requested directly to our Support Department by email: support@afb.com.kw.

Trading Hours
AFB Clients can execute trades 24 hours a day from 00:00 on Monday until 00:00 on Saturday Kuwait Time except for some instruments which halt in different times as break; trading schedule and more specific information for each instrument is available through our website www.afb.com.kw. Clients will be informed in advance in any change in trading hours due to market holidays or system maintenance requirements.

Market Watch: While AFB ensures that our Market watch is accurate and prices are obtained from several major banks, we do not guarantee that our prices are the best prices available in the market. And you agree hereunder that our market watch is only an indicator for the current market and any miss understanding regarding this service must be returned to major banks charts.

Spread: AFB offers clients a fixed competitive spreads on all spot instruments; but may rarely increase the spread on some or all instruments during the time where AFB classifies the market as Hectic or unstable Markets to be in line with the current market condition.

** Orders
Order Types:
A.    Market orders:  are the orders sent from the client terminal either by the client himself or an plug-in hocked to the client terminal  (Expert Advisor), to by or to sell an instrument on the current market price displayed on the market watch
B.    Pending orders: this kind of orders can be set in the same ways used for market orders; but on prices predicted by the trader and may hit in the future, like limit, stop, and entry orders.

All pending orders are guaranteed according to the fair market value.
 All pending orders are good until cancelled (GTC)
 All pending orders must be placed with respect to the rules appear in the  contract   specifications for each instrument.
 Once pending orders are in process, the system will reject any cancellation or modification attempted during that time.
 Pending orders limitations may vary during hectic market conditions.

If the market opens with a break off after weekend or holidays, upon release of important economic and political news as well as in case of force major events); orders (sell stop, buy stop, stop loss) are fulfilled at the first available prices in the market.
Even though such situation is not frequent, please be cautious in leaving pending orders for weekend and holidays

Placing Stop Orders close to market price upon important economic data release will be rejected or deleted automatically.

Execution:
 All orders are guaranteed according to the fair market value.
 Execution is automated.
 When a client clicks for a trade, the client makes a request according to the market watch price. If the requested price is a traded market price the trading system will confirm. Otherwise, if the price changed, the system will send an automated re-quote with the fair market value. The client will then have the choice to confirm or reject.
 The company reserves the right to cancel and delete any transaction/pending order executed on an invalid price (directly executed or re quoted) without prior notice.
 Spreads are fixed for spot instruments as declared in the contracts specifications.

Futures:  All future trades are classified as market orders, and will be executed according to the market prices provided from its corresponding exchange at the time of execution; in addition, exchange fees may apply.

Leverage: leverage policy will be applied on all accounts according to the following:

The new leverage rules will be applied as the following:

Account Type		Condition                	Leverage

Micro Accounts          Equity less than 2000 USD	1 : 400
			Equity Greater than 2000 USD	1 : 200

Standard Accounts	Equity less than 50,000 USD	1 : 200
			Equity More than 50,000 USD	1 : 100

Standard Plus Accounts	Equity +50,000 USD to 250,000	1 : 100

Professional Accounts	Equity +250,000 USD		1 : 100

**Changing leverage for each account will be done automatically  and the client will be informed through an internal mail message.
**Professional accounts will be handled individually and may not follow the above leverage rules.

Margin Requirements AFB Margin requirements for all instruments is available through our website www.afb.com.kw; and it is subject of change without a prior notice on some or all instruments during the time where AFB classifies the market as Hectic Market to be in line with the current market condition.

Phone Dealing AFB allows trading via phone In case of emergencies; All telephone calls placed through the Dealing Desk, are recorded by recording system, records are kept for 10 days. All conversations concerning price quote requests, order placement and execution, confirmations, and any other trading related issues, are also generally recorded to ensure fairness and accuracy for all parties involved in the delivery and execution of a trading order.
INSTRUCTIONS FOR PLACING An ORDER WITH THE DEALING DESK by phone:

1. Call the Dealing Desk.
2. Once the telephone is answered, have ready the following information for the dealer who has answered your call:
     Your account number
     Your password
     The currency you wish to trade and the volume of your order
     The price at which you would like your order placed, in the case of pending orders     
     The type of order (ex. limit, stop)

Dealing Desk Phone number is:  0096522441816

Slippage
AFB does not apply slippage on normal market conditions, and applies it on stop pending entry or liquidation orders during times when AFB is closed or whenever there is a weekend or bank holiday. In this case stop orders will be filled on the opening price which AFB finds suitable.

Delivery AFB doesnt offer delivery for any position held in our platform

Scalping: a trading strategy through which the trader (Scalper) attempts to take advantage of small price move and narrow ranges through making many transactions on small price changes over a small time frame.
 AFB have the right to take any necessary actions to protect itself since it does not permit scalping.
Expert Advisors and Trailing stops (EA / TS):
The Expert Advisor and trailing stop facilities are activated only upon request. And can only be activated under the following conditions:
 Non scalping clients.
 The client must use the EA in a reasonable manner. All EA users must not use the EA for frequent trading at news time. Users must understand that by using the EA frequently at news time they prevent other clients from executing a fair trade.

Stop Out: Any account on Margin call need to be cautious of the equity as the account will be stopped out by closing all open positions as the equity reaches zero, or 0% equity to margin level; all pending orders for the stopped out account will be deleted, and any deficit my result after liquidation will be handled and covered by AFB.

Islamic Trading  Swap Free Accounts:

AFB - Arab Financial Brokers offers Islamic (Swap Free) accounts for all clients, to comply with Islamic Shariah, it is also an advantage for all traders who hold their positions for multiple days without being aware of Swaps or overnight fees.

Any client who may misuse this advantage by holding his floating positions for a long time period, taking advantage of the swap free facility and gain profits from swaps must close their floating positions, having in mind that these fees are handled by AFB and not paid by clients.

Further more, hedging a spot currency by its corresponding Future contract is forbidden, because it is also an attempt to take advantage of the swap free facility and gain profits from swaps, one direction of this kind of hedges must be closed immediately.

If there was no action taken from the client side to avoid such practices, AFB will be sorry to close or take an action on these accounts without any further notice.

Reporting trading errors:
 When you wish to report a trading error, please send an email to dealingdesk@afb.com.kw , or call us directly.
We will need the following information to be able to assist you in this regard:
o Your name.
o Your account number
o Detailed enquiry description
o Your ticket/s number if applicable
o Your direct contact information
 The client must inform AFB about any trading error within 24 hours from the error time; otherwise AFB will not investigate the error.
 Any trading error coming from the company will be amended.

System Failure: in case of system failure, which may result into not executing the order according to your instructions or not executing the order at all; weather it was a scheduled routine system or server update, or an emergent disconnection by power or network failure or any other reason; you are kindly advised to contact the dealing desk for any inquiries.

Funding and withdrawal:
 Bank wiring instructions are only given to the client along with the account details and confirmation letter.
 No third party payments are accepted!
- Please keep in mind that The Company does not accept funds for any trading account via a third party. Restrictions on third party payments are set by banks and their respective authorities, which have developed extensive procedures, regulations, and laws to stop the transfer of illegal funds, commonly known as money laundering. In addition, it provides the client with the assurance that funds from his account are never paid out to another party.
 Your trading account must be established for trading purposes only. The company is not a bank, nor does it keep deposits as a bank. The company keeps deposits only to maintain margins supporting the trading account and trading activities.
 To make a deposit or to request a withdrawal, fill-in the related form and fax it or email it to us.
    The company actively complies with all anti-money laundering laws and regulations under all applicable domestic laws. On an ongoing basis, we shall review your account activity for evidence of suspicious transactions that may be indicative of money laundering activities. This review may include surveillance of:
o Money flows into and out of accounts.
o The origin and destination of wire transfers.
o Other activity outside the normal course of business.

Credit Card Payments
 Funding accounts by credit card is done directly from the company website.
 Read the terms and conditions for credit card payments:
 The name on the credit card must match the name of the client on the account with the company.
 Any deposits that do not match the above description will be rejected. All fees that apply will be charged to the sender.
 Due to regulatory requirements, The Company has the right to reject any credit card payments coming from high risk regions.
 Deposits in other currencies than USD will be converted in USD at the inter bank exchange rates of the day.
 The company does not charge any fees for online payments, While MoneyBookers Charges 3% per payment..
 Your deposits by credit card are subject to the following fees:
 The company: NONE
 Credit card companies: YES
 Withdrawals will only be credited by wire transfer to the client personal bank account that was submitted in the Customer Account Agreement.

Wire transfers:
 The Deposit Form encloses the companys bank information, according to which wire transfers will be made. Your account balance will be adjusted accordingly once we receive the funds.
 Make sure the beneficiary of the transfer is The Company.
 Include the following information as a reference in the transfer:
 Your full name.
 Your trading account number (Login).
 Expect the transaction to take from 2 to 5 business days.
 Withdrawals will only be credited by wire transfer to the client personal bank account that was submitted in the Customer Trading Agreement.
 Your deposits and withdrawals transactions by wire transfer are subject to the following fees:
 The company: NONE
 Banks: YES
Bank fees vary from one transaction to another as each transaction is considered a different case. These variations are due to the following reasons:
 Fees set by the remitter bank and the receiving bank varies from one bank to another.
 The amount of the transaction.
 The type of currency of the transaction.
 If there is a need for an intermediate bank the cost will rise.
 Any investigation costs of the transaction performed by the bank due to inaccuracy of the banking information provided by the client will be charged to the client account.
 Any other fees that might be charged to the client transaction by the banks.

Important Notices:
 No wire transfers are allowed before receiving official confirmation letter for opening the account.
 In the event of any dispute arising regarding the customer account/s and/or any open or closed positions within customer account, AFB  has the right to internally investigate and audit this account/s including all open and closed transactions. Simultaneously, the account/s funds shall be frozen and no transactions will be allowed until the dispute is completely resolved.
 AFB  grants no guarantees whatsoever to the client account and/or investment and/or funds.
 AFB  has all rights to amend, change, delete, add, and modify spreads, fees, commissions, leverage, margin requirements, liquidation level (stop out level) and any offers for any accounts or any positions, at any time without a prior notice.
 Furthermore, AFB  reserves the right to close any positions or accounts, at any time, without a prior notice.
Validity of the above terms:
 The latest published version of this policy on the company website shall prevail.
 These terms are an essential part of the customer trading agreement. Should any clause in the trading policy conflict with a Clause(s) in the customer trading agreement the clause herein shall prevail.

I have read and understood the General Terms and Conditions as set out above.

Customer represents that all information on the foregoing account application is true and correct, and agrees to notify AFB of any material changes in writing. AFB reserves the right, but has no duty, to verify the accuracy of information provided, and to contact such bankers, brokers and others as it deems necessary. By signing below, you are providing "written instructions" to AFB under the Fair Credit Reporting Act authorizing AFB to obtain information from your personal credit profile or other such information from Experian and other third parties (including other credit reporting entities). You authorize AFB to obtain such information solely to confirm your identity and to avoid fraudulent transactions in your name.

AFB Salesperson ID Number (if applicable):

Dear
We are so pleased with your decision to work with us. An AFB agent will be contacting you within one business day to assist you in the account opening process. Ours is truly a business whose future depends upon the satisfaction of our customers. Welcome to that family! You can rest assured that we will strive to provide you with the fastest most efficient service, along with the highest quality products. Should you have any problems, or any ideas on ways that we can improve our service, please feel free to call upon us. Again, welcome aboard.

To submit your application please press "Submit"

* Required Fields

1. Do you have financial interest in any account at AFB?:
Yes No

if yes, please account number(s):


2. Do you have trading authority over any other accounts at AFB?:
Yes No

if yes, please list account numbers:


3. Do you have, or have you ever had, another account(s) at AFB?:
Yes No

if yes, please provides details and list account number(s) and name(s):


4. Will any other person or entity have a financial interest in this account?:
Yes No

if yes, please list name(s):


5. What is your Trading Objective?:
Hedging Speculation

6. What is your purpose in opening a forex trading account with us?


7. What forex markets do you intend to trade?


8. Will any other person or entity control or manage trading in this account?:
Yes No

If yes, please provide the name and relationship of the person or entity:
Name:	Relationship:


To grant trading authority to an individual or entity that is not an account owner, please click here and fill out additional limited power of attorney paperwork.
9. Have you ever made an oral or written complaint against any currency, securities, or commodity broker or exchange?
Yes No

if yes, please explains: