MintBroker Minute Blog

How to Open an Account


Looking to sign up for an account and start trading with MintBroker? Great! It’s quick and easy to join.

Here we outline the key steps you need to take to sign up including what documentation you’ll need to have to hand to register and what the necessary regulations are to help you get started.

Verification

There are a number of important documents that we need to receive copies of in order to verify your identity and qualify you to trade.

Mint Global Markets UK is an Appointed Representative of Thornbridge Investment Management LLP who is authorised and regulated by the Financial Conduct Authority. MintBroker is therefore required to verify the identity of all users on its platform and as part of its verification process requires all users to be Know Your Client (KYC) and Anti Money Laundering (AML) checked.

What documents do you need to provide?

● You must be 18 or over to trade with MintBroker. Therefore, we require proof of identity such as your passport or drivers licence. Your photo ID must be in colour and government-issued.
● We will also need a proof of address, as this is a requirement under KYC regulations. For this, you’ll need to provide a copy of a utility bill or bank statement, which must be dated within the last 3 months.

What else do you need to do?

● In order to verify where the funds you are going to trade with have come from, (to comply with AML checks) we will need to understand your employment status. For this, you will need to provide the name of your employer, address and occupation.
● It is a legal requirement for us to know the source of the funds our customers use to trade with. This is to prevent traders with previous finance-related convictions or a history of fraud or money-laundering from using the platform.
● You may need to provide additional documentation as proof of funds, depending on what you are planning on using. We’ve broken this down below:

Proceeds from sale of securities
If you are planning on using funds that you have accrued from trading, we will need to see a broker statement confirming the sale of the security. Your name must appear clearly on it.

Insurance proceeds
If you intend to use proceeds from insurance, you will need to supply correspondence from your insurer that verify the proceeds.

Inheritance money
If using money obtained from inheritance, you will need to send a copy of the will and death certificate to be successfully verified.

Income from selling a business
If using funds from the sale of a business, you must provide a business purchase and sale agreement.

Income from employment
If using money you have earned from working, we will need to see a pay slip or bank statement to verify your funds.

Gifts
If using funds that have been gifted to you, we will require a copy of the deed of gift or letter from donor stating amount of gift.

Legal Settlement
If you are using funds won in a legal settlement, please provide a copy of the settlement agreement or letter from your lawyer.

Existing Funds
If you’re using existing funds, please provide a copy of statements from your bank or building society.

You can also register an account with us if you’re unemployed, as long as you can supply us with proof of where the funds have come from.

Tax Considerations

For trading US shares, you will need to complete a W-8 documentation. It is a legal obligation under US tax regulation to obtain this documentation from you.

The main purpose of the W-8 is to inform brokers and mutual fund companies that you, as a UK trader and non-US citizen, are not bound to the usual tax withholding from investment income.

Is my account likely to be accepted?

We will only reject your account application for the following reasons:

1. You already have an account
2. You are under 18 years old
3. You have previous convictions for fraud or money laundering
4. You are a US citizen. Mint Global Markets UK, Ltd. does not accept accounts for U.S. Persons that have been solicited directly or indirectly in compliance with SEC Rule 15a-6.

How long does it take?

It takes 2-5 business days for us to conduct the necessary due diligence on your application and verify your account – happy trading!

Mint Global Markets UK, Ltd is an appointed representative of Thornbridge Investment Management LLP which is authorised and regulated by the Financial Conduct Authority.

Learn more about Getting Started with MintBroker.

Open an account

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