Open a WISE Account | WISE | West Indies Stockbrokers Limited

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Individual

For the principal holder and each joint holder (if any) as well as any person(s) identified as giving instructions on the account if different from the holder(s) the following is required:

Copies of two (2) valid forms of government issued identification
Copy of a utility bill (with the exception of mobile bills) or bank statement less than three months old confirming residential address provided on the Application Form (Residents of Trinidad and Tobago only)
A referral letter from the individual's major banker (where individual resides outside of Trinidad and Tobago)
Proof of Occupational Income (Job Letter or Pay Slip)
Source of Funds (via Bank/Savings Statement)

Primary and all joint account holders (if any) as well as any person(s) identified as giving instructions on the account if different from the holder(s) must complete and sign the following forms:

Local Trading Account

In addition to the above, the following is also required to open a local trading account:

Signed WISE Stockbroker's Agreement in duplicate (where individuals wish to invest in local equities)
Signed WISE Bond Agreement in duplicate (where individuals wish to invest in local fixed income)
Signed Trinidad and Tobago Central Depository Dividend Mandate Form
Signed WISE Online Trading Authorization Letter (where individuals wish to invest in local equities online)
An initial investment of TT$25,000

International Trading Account

In addition to the above, the following is also required to open a foreign trading account:

Signed Pershing New Account Forms
Signed W-8BEN Foreign Tax Form for each account holder
Signed Pershing Joint Agreement Form
Signed Pershing Transfer on Death Form (if applicable for individual)
Signed Pershing Transfer on Death Form (if applicable for joint holders)
Signed Margin Form (if applicable)
Signed Option Form (if applicable)
An initial investment of US$10,000

Disclaimer: Additional documents may also be required

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Corporate

For Corporations the following is required:

Completed and signed WISE Investor Application Form including full names, date of birth, identification, country of birth, country of citizenship and occupation/profession of all Directors and Authorised Signatories
Copies of two (2) valid forms of government issued identification for all Directors and Officers of the Company, shareholders who hold greater than 10% of the paid up capital and Authorized Signatories.
Additionally we also require a utility bill (with the exception of mobile bills) or bank statement less than three months old confirming residential address provided on the Application Form (Residents of Trinidad and Tobago only) for each Authorized Signatory.
List of Directors
List of Authorized Signatories together with specimen signature
Certificate of Incorporation, Continuance and Articles of Association (duly notarized where such body is incorporated outside the Jurisdiction)
The most recent (no later than the previous year's) annual return filed with the Registrar, (duly notarized where such corporate body is incorporated outside of the Jurisdiction)
The name/s and address/es of the beneficial owner/s and/or the person/s on whose instructions the signatories to the account are empowered to act
Company By-Laws
Board resolution sanctioning the opening of the account and conferring authority on the signatories to the account
Copies of Powers of Attorney or other authorities given by the Directors in relation to the company
A signed Director's statement as to the nature of the company's business
Audited or Management accounts for the previous three years (where applicable)
A referral letter from the entity's major banker (where the entity resides outside of Trinidad and Tobago)

For Corporations the following forms must be completed and signed by the relevant account opening authorities:

Local Trading Account

In addition to the above, the following is also required to open a local trading account:

Signed WISE Stockbroker's Agreement in duplicate (where corporations wish to invest in local equities)
Signed WISE Bond Agreement in duplicate (where corporations wish to invest in local fixed income)
Signed Trinidad and Tobago Central Depository Dividend Mandate Form
Signed WISE Online Trading Authorization Letter (where corporates wish to invest in local equities online)
An initial deposit of TT$25,000

International Trading Account

In addition to the above, the following is also required to open a foreign trading account:

Signed Pershing New Account Form including Corporate/Business ID Number, Country and Formation date
Signed Pershing Corporate Resolution Form conferring authority on the signatories to the account. The Secretary executing this certificate cannot be one of those authorized to act. If an authorized officer is also the Company Secretary, a notarized statement to that effect must be added to the Form.
Signed Margin Form (if applicable)
Signed Option Form (if applicable)
An initial deposit of US$10,000

Disclaimer: Additional documents may also be required

Commission Schedule

Local Equity Commission

All Sales Charges are quoted in TT Dollars and subject to change at any time:

Local Equity – Self-Directed Trades via TTSE Online Platform

In addition, a Trinidad and Tobago Stock Exchange (TTSE) Charge of 0.21% per trade or minimum TT$2.10 will be applied.
Transaction Amount (TTD)	Commission Rate (TTD)
All	0.75% per trade

Local Equity – Guided Trades

In addition, a TTSE Charge of 0.21% per trade or minimum TT$2.10 will be applied.
Transaction Amount (TTD)	Commission Rate (TTD)
Minimum Charge	$175.00 per trade
$0 to $50,000	1.50% per trade
$50,001 to $100,000	1.25% per trade
$100,001 and over	1.00% per trade

International Equity Commission

All Sales Charges are quoted in US Dollars and subject to change at any time:

US Equity – Self-Directed Trades via Netx Investor

Listed equities and Exchange Traded Funds (EFTs)

In addition, a Foreign Broker Charge of US$4.35 will be applied to each trade.
Transaction Amount (USD)	Commission Rate (USD)
$0 to $4,999	$30.00 per trade
$5,000 to $19,999	$75.00 per trade
$20,000 and over	$100.00 per trade

US Equity – Guided Trades

Listed equities and Exchange Traded Funds (EFTs)

In addition, a Foreign Broker Charge of US$4.35 will be applied to each trade.
Transaction Amount (USD)	Commission Rate (USD)
$0 to $99,999	$30.00 + 0.75% per trade
> $100,000	$30.00 + 0.50% per trade

Non-US Equity

Other international equities, for example those purchased or sold on the London or the Toronto Stock Exchanges, will incur additional charges. Kindly contact your relationship manager for further details.

Options Trading

Platform	Commission Rate (USD)
Self-Directed Trades via Netx Investor	$30 per trade plus $1.50 per contract
Guided Trades	$30 per trade plus $2.50 per contract

Customised Investment Portfolios

A management fee of 1.25% per annum of the market value of the portfolio is payable on a quarterly basis.
All transaction fees are included

Annual Account Maintenance Fee

Client Holdings (USD)	Annual Flat Fee (USD)
Less than $10,000	$40.00
$10,001 to $100,000	$60.00
$100,001 to $500,000	$100.00
$500,001 to $1,000,000	$150.00
$1,000,001 and over	$200.00

Download our Full Fee Schedule

Accounts, Fees & Commissions

All WISE brokerage accounts are non-discretionary, which means that the client retains full control over the account and has ultimate responsibility for all trading decisions. Clients can rely on our relationship managers for guidance, if they choose, or make their own investment decisions. Either way, our traders will not execute a transaction without first receiving verbal or written authorisation from the client.

WISE will deduct from the account all commissions, transaction charges, administrative or custody fees applicable to the account.
Commissions and transaction charges will be charged at WISE's customary rates in place from time to time or as negotiated from time to time.
Administrative fees and custody fees will be charged at WISE's customary rates in place from time to time or as negotiated from time to time. WISE may at its sole discretion may change its administrative fees, custody fees or charges by giving you 60 days prior written notice of such change.
Unless otherwise agreed, WISE provides what is commonly referred to as “all-in” pricing for bond transactions. Accordingly, unless otherwise agreed, the price of any bond transaction that WISE executes for a client may include what WISE determines to be a reasonable bid-ask spread and/or mark-up.

Click here for the full Investor Account Agreement.