Q & A

What is the difference between W-8BEN and W-9?

W-8BEN is the tax form for non-U.S. persons. W-9 is the tax form for U.S.-registered business entities, U.S. citizens and U.S. residents.

How will it affect my account if I don’t provide W-8BEN?

The interests, dividends and sale proceeds in your account will be subjected to IRS tax withholding if W-8BEN is not provided.

How long is W-8BEN valid for? How often does it need to be updated? Can I not update it?

W-8BEN is valid for 3 years and must be updated every 3 years. Your account will be subjected to tax withholding if W-8BEN is not updated.

How long does it take to transfer an account? How do I transfer my account from another brokerage firm to Griffinest Asia Securities?

You only need to send us the “Account Transfer Form” and attach the latest monthly or quarterly statement. It usually takes 1 to 3 weeks to complete the transfer, which totally depends on the delivering brokerage firm’s account transfer process.

Should I use Chinese or English on filling out and signing the forms?

The forms should be filled out in English, but the signature can be either in Chinese or English. Please make sure your English name on the forms is the same as appeared on your passport. For client’s protection, we require that the signature be signed by the account holder and be identical as appeared on the passport.

I would like to open an account with Griffinest Asia Securities, but should I open a corresponding bank account?

It's not necessary. Your account with Griffinest Asia Securities provides brokerage account functions and certain bank account functions, therefore it's not necessary to open a corresponding bank account.

How do I know that the account is opened?

Upon completion of the account opening process, we will send you a thank-you letter with account access information.

How can I access the information of my account?

Please click “ NetX Investor” on the top right menu, press “LOGIN” to access your account. You can also directly access the login page of NetX Investor: https://www.netxinvestor.com/nxi/login . NetX Investor is Pershing LLC’s web-based platform, providing clients with account information, order status, market news, price quotes and other contents.

Can I open a Margin Account or Option Account?

Yes. Please fill out the “Margin Agreement” and/or “Option Agreement & Approval Form.” We will review your financial information and risk profile to assess the suitability. The account will be opened if the suitability fits our guidelines.

I opened an account with Griffinest Asia Securities when I was living in Asia. Now I have migrated to the U.S. and have acquired U.S. resident status. Will this change my account status?

You are obligated to notify us when there’s any change of your resident status.

Where can I get the account opening forms?

Please download the “New Account Agreement” from this website, or contact our financial advisors.

Do you charge different fees on U.S. and non-U.S. clients?

We charge the same fees.

Do you provide U.S. stock deposit service?

Yes. Please ask your financial advisor for the necessary forms.

Is there any additional charge on opening account with you?

There is no charge for opening account with us.

Is there account maintenance fee? Is there any discount on the fee?

Please refer to our “Commissions & Fees” for the details of account maintenance fees.