If you wish to invest funds and trade on behalf of your company, then a business account may be the right one for you.
Your benefits at a glance:
Secure and reliable 24/7 trading platform that is fully compliant with AML5
Competitive fee structure
Dedicated Business Account Specialists
A wide range of simple and easy-to-use financial products & features (i.e. crypto indices, OTC, derivates )
1. Requirements
In this example situation, you should have representation rights for the business you are planning to register, wish to invest funds on behalf of your company and. In this case, we will need the following documents for review, which all are essential for opening a business account:
A recent company register excerpt (no older than 2 months)
Bank account statements of all relevant bank accounts used for deposits/withdrawals showing the company name and your IBAN (no older than 2 months)
Legal authorization to act on behalf of the company you want to register (if not apparent from previous documents)
Most recent financial statements available (annual account, balance sheet, Profit & Loss statement)
A dated and hand-signed organizational chart showing the company structure, including ownership percentages (if the ownership structure has more than one level and must show the levels up to the ultimate beneficial owners)
Current and official shareholder list or equivalent (where applicable, depending on company type)
Note: In some instances if the documents are not available in German or English, we require a translation into German or English in addition to the original document.
Depending on the nature of your business, we might need to request additional documents. In order to provide you with the best possible service, we will also require some information about your business and intention:
Description of your business model
Intended use of the business account you want to open with us
Expected total investment for the respective year
Note: Before submitting your application, you will need to complete biometric verification as part of the online application, please make sure to complete the verification of your account and that you have your ID documents ready.
2. Create a new business account
If you hold the company’s representation rights that you want to register with us, you can simply create a business account. You will just need to follow the instructions. The person signing up and verifying the business account must hold representation rights of the business this can be evidenced via the register extract or by a board resolution.
3. Most frequently asked questions (FAQ)
Requirements
Why are these documents and information required?
Since the 10th of January 2020, companies like One Trading have been legally obliged to obtain a minimum amount of information from their users in the European Union. This serves to combat money laundering and terrorist financing and is commonly referred to as Know Your Customer (KYC) practice.
As a Virtual Asset Provider registered with the Italian OAM (Organismo Agenti e mediatori) , One Trading is subject to the national implementation of the 5th European Money Laundering Directive passed on 10th of January, 2020.
In accordance with our legal obligations, we are required, among other things, to obtain information on our customers (both natural and legal), as well as the purpose of the intended business relationship. There is no way to circumvent this process.
What is a company register excerpt?
In order to get to know our potential clients and to determine the identity and seriousness of their application, it is necessary to provide an extract from the company register of the respective country, which contains all information about companies such as their name, address, business sector, ownership data, etc.
Please note, that we require an official translation in addition to the original document if the document is not in German or English.
Companies based in the United Kingdom (UK) will need to provide a Company Snapshot or Certificate issued by the Companies House.
Why do you need an organizational chart of the company?
In addition to the business information, we also need to understand the ownership structure and identify the ultimate beneficial owners (natural person), who directly or indirectly hold at least 25% of shares of the company.
We are a start-up and don’t have financial results available yet. What can we provide?
For young companies or Start-ups who do not have financial statements yet, we require a detailed business plan including a financial forecast instead.
Application
Who is allowed to sign up for a business account?
The person signing up has to be authorized to act on behalf of the company (e.g. Director, Manager, CEO) as seen in the company register excerpt.
I have a power of attorney. Am I allowed to sign up for a business account?
No, this is not possible.
Who is allowed to sign the documents?
All documents have to be signed by the representative(s) of the company (e.g. if joint representation rights apply, then we need the signatures of all relevant representatives).
How long does the review take?
If the necessary documents and information is provided accurately, the review process can be completed within several days.
My application has been rejected. Why?
One Trading reserves the right to decline business account applications for several reasons.
How are my private information and the provided documents stored?
Data protection is of the utmost importance to us. We keep our users' data encrypted in a restricted-access database, and we also implement many other security measures in accordance with section 32 GDPR. For further information, please check out our privacy policy.
Can I use my private bank account for transfers from/to my business account?
Business accounts may only be used for business purposes and on behalf of the registered company. Thus, deposits or withdrawals are only allowed to bank accounts with the same business name.
What should I do in case of any change in the company (e.g. company name, director, address, bank account etc.?
Any changes must be reported to us immediately during the business relationship, together with the relevant evidence.
