Types of Accounts

Individual

This type of account is appropriate when only one (1) person intends to open and fund the account. This person will be the only one with the authority to withdraw funds from the account.

Joint

The Joint Account is available for two or more individuals who are interested in opening an account together. This account is designed for spouses, family members, and friends.

Partnership

This type of application should be submitted when a Legal or Registered Partnership intends to open an account. For example, "Siegel & Mason LLP." registered as a Limited Partnership in the State of New York, can apply to open a live forex trading account by submitting the Partnership Account Application. In this account, the Partners will designate the Authorized Trader(s) via the Partnership Account Application form.**

Corporate Account

This type of application should be submitted when a Registered Corporation wants to open an account. For example, "Mason Corp." incorporated in the State of Delaware, can apply for a live forex trading account by submitting this application. The Corporation will designate the Authorized Trader(s) for this account, via the Corporate Account Application.**

MOA (Multiple Option Account)

MG Financial Group has created two unique types of accounts to accommodate professional traders. For traders who manage accounts for 2 or more individual clients we offer a system by which each account is accessible from the same DealStation™, thereby giving Managers the option of switching between multiple accounts with ease. This is the same as having 2 (or more) separate accounts available under the same user name, making it possible for corporations or account managers to manage many accounts without logging out and logging back in, losing precious time connected to the market. An MOA trader is still able to access each account separately from the same platform. Each account is considered a separate entity, with individual reports kept of deals done, P/L and open orders.

IMA (Integrated Management Account)

For those that manage funds of more than 3 entities our Integrated Management Account, or IMA, offers access to indispensable tools that help in the management process. Similar to a mutual fund, our technology has enabled the account manager to trade the assets of the combined entities in a pool. The IMA is traded as one account, with the exception of each individual having a subsidiary account complete with its own P/L and bookkeeping. For example, an IMA is opened with a client pool of 10 people, each with a subsidiary holding of unequal investment. Each individual account has a percentage share in the profits and losses of the IMA directly dependent on the amount of each individual’s contribution to the IMA pool. All tracking, distribution and allocation of profit and losses is automatic, with each client receiving in their segregated accounts their share of the IMA’s performance. Also automatic is the collection of the manager’s fees by way of commissions. For the account manager this service frees him from the necessity of back office paperwork, since all files are archived in the system and records and account balance statements are viewable, as well as printable, directly form the screen, daily, weekly, quarterly, or on a yearly basis.

**Special Note: The Partnership and Corporate Application forms have areas specially designed for naming Authorized Trader(s) who will have the ability to trade the account and to make deposits and withdrawals on behalf of the applicants. If the applicants do not wish to grant the Authorized Trader(s) with the authority to make withdrawals or deposits into the account, then they are advised to contact us at 212-835-0100 so we can help to amend the relevant sections of the application pages.