DISCLAIMER: International Relocation Firm (International Relocation Firm) is a law firm that provides Introductions to licensed banks, brokerage firms, investment advisors, forex funds, mutual funds, and other licensed investment companies or professionals. International Relocation Firm is NOT a licensed bank, brokerage firm, mutual fund, forex fund, or investment advisor.
Personal Panama Online Brokerage Account Intro:
- Set Up Fees
- About the Brokerage Firm
- Trade Fees
- Account Features
- Debit Card
- USD Checkbook
- Internet Access
- Currency
- Documentation Requirements
- Minimum Deposit Requirement
- Miscellaneous Fees
- Set Up Procedures
The set up fee is US$500 for your personal Panama brokerage online account intro from International Relocation Firm select Panama brokerage firm.
About the Panama Brokerage Firm:
The Panama online discount brokerage accounts intro are established through our correspondent Panama online discount brokerage firm based in Panama City, Republic of Panama. The Panama brokerage firm is an NASD registered, licensed and insured international financial institution. All securities and cash deposits are held in custody by one of the worlds largest international clearing firms. Each Panama brokerage account intro is insured through the SIPC (Securities Investor Protection Corporation) up to US$500,000 and carries additional insurance up to US$99.5 million through a major international insurance carrier.
The brokers/financial advisors are English or Spanish speaking, NASD registered, licensed brokers who can provide you with sound investment advice for investing in mutual funds, stocks, bonds, options, money markets, etc. They mainly trade on the US and Canadian stock exchanges (NYSE, NASDAQ, AMEX, Toronto, etc.), however, they can trade on most major securities exchanges around the globe.
Trade Fees:
Trade fees vary depending on the trade amount, type of security traded, and the stock exchange traded on. We cannot provide a fees list for trade fees since it varies so much from security types and from one market to another, however, we can say that their discount brokerage fees range from US$50 to US$75 per trade depending on the security traded and the market it is traded on. However, when trading no-load mutual funds, the fund company will generally cover the trade fees.
Panama Brokerage Account Intro Features:
Each Panama brokerage account intro includes an optional USD checkbook, Internet access, and MasterCard Debit Card.
Annual fee for the Visa Debit Card is US$75. There are no transaction fees charged for ATM cash withdrawals. You must have a minimum balance of US$25,000 in order to qualify for a debit card, however, you do not need to maintain US$25,000 in the account during the use of the debit card.
The USD checkbook is used to make payments by check to anyone around the globe. The checks are internationally accepted by most banks around the globe. The checkbook will be provided once the initial minimum deposit of US$3,000 is made.
Internet access is provided so you can access your Panama brokerage account information online and begin trading using a secured password and userID.
Funds can only be held in USD. Any transfers received in other currencies will be immediately converted to USD prior to entering the Panama brokerage account.
The following documentation is required for a Panama Brokerage Account Intro:
A. Photocopy of passport for each signatory. The photocopy of passport should be notarized, and should include the photo of the person, the personal details (name, date of birth, passport number, etc.), and the signature. The photocopy should be clear and legible.
Note: If a passport is not available, a notarized photocopy of a valid government issued drivers license may be substituted as long as it has your signature, personal details, and photo.
B. One (1) Financial Reference Letter. The financial reference letter can be from any bank, brokerage firm, credit union, insurance company, trust company, or finance company. The letter should be on the financial institutions letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email, etc.). There is no specific format that the reference letter must be written in, however, we have provided an example below for your reference.
Example of Financial Reference Letter
* Documentation requirements are subject to change without notice.
** Brokerage firms other than our correspondent brokers may require other documentation.
C. Account Applications: You must also sign the Panama brokerage account intro applications.
The minimum Panama brokerage account intro opening deposit is US$3000, which should be made by USD check or wire transfer. After the Panama brokerage account intro is set up, additional deposits may be made by USD check, securities transfer, or by wire transfer. We will forward you the check deposit, securities transfer, and wire transfer instructions once the account is set up.
– Account Opening Fee: Free w/ purchase of entity, otherwise US$500
– Wire Transfer In: US$15
– Wire Transfer Out: US$40 **
– Internal Transfer: No charge***
– Margin Extensions: US$50 per event
– Returned Checks: US$40 per event
– Stop Payments: US$20 per event
– Retail Confirmation Fee: US$7 per confirmation
– Inactive Account Custody Fee: US$50 per account per year
– Inactive Account Mutual Funds Only: US$25
– Personal Gold Pro-Plus Account: US$75
– Corporate Gold Pro-Plus Account: US$150
– Copy of Paid Check or MC draft: US$2.50
– ATM Access: US$0.75 per transaction
– Check Book (200 checks): US$10
– Foreign Check Deposit: US$25 ****
* Fees are subject to change without prior notice. We do not guarantee the accuracy of the above published fees.
** Third party wire transfers are not permitted. Wire transfers out are only permitted to accounts with the same name. For example, “Joe Smith” can only wire funds to another account with the beneficiary name “Joe Smith”. For payments to third parties, you must use the checkbook or MasterCard debit card. We recommend that if you need to make payments to third parties by wire transfer, you should set up a bank account instead of a brokerage account.
*** Internal transfers (journals) to accounts within the same institution are permitted.
**** Acceptable deposits are USD Checks (personal or bank certified checks), wire transfers, or publicly traded securities. Unacceptable deposits are cash, money orders, travelers checks, double endorsed checks, foreign items/thrift withdrawal orders, returned checks, and checks referring to more than one account number.
Set Up Procedures: A. Submit an Online Application – Click on “Order Now”, and complete an online application, then hit “submit”.
B. Submit Payment – Payment can be made by Bank Wire Transfer, Western Union Money Transfer, USD Check, or USD International Money Order.
C. Receive Documents – Once we receive payment for the structure, we will forward you the brokerage account applications for your signature. You should sign the account applications where indicated, and forward them back to us along with the required documentation and initial deposit check.
D. Account is Set Up – When we receive the signed applications, the Panama brokerage account applications will be forwarded to the Panama brokerage firm. The account number will generally be provided within 5 business days from the date the documents are submitted to the brokerage firm.
E. Begin Using Account – You will receive the complete Panama brokerage account protocol for making deposits, executing trades, contact information of the brokerage firm, etc.
Contact Us to open your Panama Brokerage Account Intro.