DGCX Account Type

The Dubai Gold and Commodities Exchange (DGCX) offers two primary types of accounts for traders: Broker Membership and Trade Membership.

Broker Membership

• Eligibility: Broker members can trade all products listed by DGCX either on a proprietary basis or on behalf of clients.
• Minimum Net Current Tangible Assets (NCTA): $250,000 in assets.
• Admission Fee: $150,000.
• Regulatory Requirements: Must comply with a comprehensive set of regulatory requirements and obtain a license from the Securities and Commodities Authority (SCA) of UAE.

Trade Membership

• Eligibility: Trade members can only trade on a proprietary basis.
• Minimum NCTA: $100,000 in assets.
• Admission Fee: $60,000.

Both membership types require applicants to demonstrate adequate financial resources, experience in commodities, derivatives, or securities markets, and a potential contribution to the liquidity of the DGCX market.

DGCX Broker Account Opening Process

To open a broker account with DGCX, follow these steps:

• Complete the Application Form: Obtain the application form from the DGCX website or membership department.
• Pay Application Fee: Submit a non-refundable application fee of $1,000.
• Prepare Documentation: Provide necessary due diligence documents that include:
• Financial resources.
• Experience and expertise in relevant markets.
• Contribution to market liquidity.
• Submit Application: Send the completed application form along with the application fee to DGCX.
• Review Process: DGCX will review the application, which includes checks on financial resources and market experience.
• Admission Fee Payment: Upon provisional approval, pay the admission fee ($150,000 for broker membership; $60,000 for trade membership).
• Regulatory Submission: DGCX will submit necessary documents to the SCA on behalf of the applicant.
• Membership Approval: Once approved, the applicant will receive confirmation and can begin trading.

Refund requests for the membership fee are considered at the exchange's discretion, but all application fees are non-refundable, even if the application is unsuccessful.