1. Who is eligible to open a Wealth Investment Portfolio?
All existing Private Banking, Priority Banking and Advantage Banking customers (excluding US citizens) are eligible to open Investment Portfolio.
2. What are the balance requirements?
You must fund your investment account with a minimum of USD 100 to start trading.
3. What documents are required to open an Investment Portfolio and start trading?
a. Emirates ID and Passport must be up to date in our records
b. Fill and submit the W-8BEN form on the app (Required for trading)
4. What is a W-8BEN form and why I need to fill it?
The W-8BEN is an Internal Revenue Service (IRS) mandated form to collect correct Nonresident Alien (NRA) taxpayer information for individuals for reporting purposes and to document their status for tax reporting purposes. It’s important that you declare the W-8BEN form so that you will avail a flat 30% tax according to the US treaty with your country of residence.
5. What are the fees and charges to open the Investment Portfolio and start trading?
There are no charges to open Investment Account and Investment Portfolio. It’s completely free. For trading fees please refer to the Schedule of Charges.
6. How long will it take to open an Investment Account and start trading?
You can open your Investment Account and Portfolio instantly on the App.
7. How to get started on the App
- Log in to Emirates Islamic Mobile or Online Banking
- Select ‘Wealth’ from the navigation menu
- Select ‘Start Trading'
- Confirm your residency, tax and the other personal details
- Answer the investment profile questionnaires
- Set your portfolio currency
- View and agree to the terms & conditions
- Fill up the W-8BEN form
- Confirm the request via Smart Pass
8. Can I open more than one Investment Account and Portfolio?
You can only open one Investment Portfolio, which will contain 2 Investment Accounts, one in AED, and one in USD currency
Open a Wealth Account
1. How can I start trading with Global Equities?
You must open an Investment Portfolio to start trading with Global Equities. Once your portfolio is open, create your trading wallet for Global Equities.
2. How can I create my trading wallet for global equities?
- Log in to Emirates Islamic Mobile or Online Banking
- Select ‘Wealth’ from the navigation menu
- Select your direct portfolio
- Select “Global Equities”
- Follow instructions to create your wallet
Please ensure you have already filled and submitted the W-8BEN form.
3. How do I top up my trading wallet for global equities?
- Log in to Emirates Islamic Mobile or Online Banking
- Select ‘Wealth’ from the navigation menu
- Select your direct portfolio
- Select “Global Equities”
- Select “Top Up” from the wallet screen
- Select the debit Investment Account (which is linked under the direct portfolio)
- Enter the amount you wish to fund (minimum is USD 1)
- Confirm top up request with Smart Pass
4. How do I withdraw from my trading wallet?
- Log in to Emirates Islamic Mobile or Online Banking
- Select ‘Wealth’ from the navigation menu
- Select your direct portfolio
- Select “Global Equities”
- Select “Withdraw” from the wallet screen
- Enter the amount you wish to withdraw (minimum is USD 1)
- Select credit Investment Account (which is linked under the direct portfolio)
- Confirm withdrawal request with Smart Pass
5. How to fund my Investment Account?
You can fund your Investment Account from the Wealth Dashboard, Portfolio Overview or from Pay and transfer option in the Home screen of the Mobile Banking app.
6. How to withdraw from my Investment Account?
You can withdraw from your Investment Account through a money transfer to one of your Current or Savings Accounts.
7. How do I trade in Global Equities?
Simply fund your trading wallet and navigate to “Trade” from your direct portfolio.
Global Equities Trading
- How do I get statement: You can download the statement from Reports section in Trading screen
- How to create sub-account: There is no sub account. All trades are placed under the same direct portfolio
- Can I authorize someone else to manage my account: Not Applicable, As this will require client to provide smart pass for authentication and order placement
- Any tax and reporting requirements: The W-8BEN form would need to be completed prior to trading in the platform
- Disputes of charges: Please contact the Bank directly for any clarifications
- How to transfer assets: In order to get assets transferred, please liaise with Relationship Manager
- How do I close account: Please liaise with Relationship Manager
Manage my Wealth
- Order types (Market, GTC/GTD)
- Credits, Margins, Equity explanations – No Lombard lending options. All trades will be cash funded by client
- Can I trade pre-market – Yes, order will be showing as in queue
- How can I short a stock – Not allowed
Trade
A Next Generation Client Service Experience, providing a Premier Client Service developing an innovative hub to interact with Private Banking and Priority customers with their Relationship Manager. This feature will allow the chat capability with the Relationship Managers and sharing documents.
RM Connect (Customer Relationship Management):
A Next Generation Client Service Experience, providing a Premier Client Service developing an innovative hub to interact with Private Banking and Priority customers with their Relationship Manager. This feature will allow the chat capability with the Relationship Managers and sharing documents.
