CIMB Bank Account Types

CIMB Bank offers a variety of trading accounts tailored to meet the diverse needs of investors. The primary account types include:

• Cash Trading Account (CTA): This account is designed for individuals who want to trade equities. There is no minimum deposit requirement to open this account, making it accessible for new investors.

• Margin Trading Account: This account allows customers to leverage their investments by borrowing funds. Traders must maintain a minimum margin of 140% in their account.

• Security Borrowing Account: This account is specifically for clients who wish to borrow securities for short selling or hedging activities.

• Unit Trust Accounts: CIMB offers various unit trust funds, including conventional and Islamic options, allowing investors to diversify their portfolios.

• Foreign Currency Accounts: These accounts enable investors to transact in multiple currencies, catering to those involved in international trading.

CIMB Bank Broker Account Opening Process

Opening a trading account with CIMB Bank involves several steps:

• Eligibility: Applicants must be at least 18 years old. For a Contract for Difference (CFD) trading account, the minimum age is 21.

• Documentation: Prepare the necessary documents, which include:

• Identification documents (NRIC or passport)
• A wet signature image
• Central Depository (CDP) account number (if applicable)
• Online Application:
• Visit the CIMB trading website.
• Click on "Apply Online" and select the type of account you wish to open.
• Fill out the application form, ensuring that all details are accurate.

• Submission: After completing the form, upload the required documents and submit the application.

• Account Activation: Once your application is processed, you will receive an email with an activation link. Follow the instructions to set your password and activate your account.

• Funding Your Account: After activation, you can fund your account via cash, cheque, internet banking, or ATM.

By following these steps, prospective investors can successfully open a trading account with CIMB Bank and begin their investment journey.