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Rating Index

Pros

Established reputation as a leading investment bank in Bahrain with multiple awards for excellence.

Offers a range of financial services including asset management and brokerage, catering to diverse investment needs.

Recognized for strong performance in regional equity and fixed income markets, showcasing a solid track record.

Cons

Lacks proper regulation, raising concerns about the safety and security of client funds.

Reported issues with transparency, including hidden fees and undisclosed charges, which can disadvantage investors.

Warnings from review sites label SICO Bank as a potential scam, indicating a need for caution when engaging with their services.

SICO BANK broker Accounts

SICO Bank Account Type

SICO Bank offers various types of brokerage accounts tailored to meet the needs of different investors. Individuals and corporate entities can open accounts, including options for minors, joint account holders, and inheritors. The minimum amount required to open an individual account is BHD 5,000. Corporate accounts also have a minimum requirement, which is not specified in the available information.

SICO Bank Broker Account Opening Process

Opening a brokerage account with SICO Bank is a straightforward process that involves the following steps:

Visit the Website: Go to SICO Bank's account opening page.
Choose Account Type: Select whether you are opening an individual or corporate account.
Complete Application Form: Download and fill out the relevant application form. For individual accounts, you can find the form here.
Submit Application: Send the completed application form to clients@sicobank.com.
Review Process: The client relations team will review your application and contact you for any additional requirements.
KYC Compliance: Ensure that you provide accurate personal and financial information to comply with the Know Your Client (KYC) regulations.
Fund Your Account: After approval, you will need to fund your account before placing any trades.