You can grant the Power of Attorney (PoA) of your account to someone else by giving them access.
What is PoA and what can be done with this access?
A power of attorney (PoA) is the authorization given by the account holder to a person allowing them to get access to the account, and perform actions such as placing trades, instructing cash withdrawals, etc.
Who can be granted a power of attorney (PoA)?
You can grant PoA to one of the following:
- First-line family members, such as spouse, parent, siblings, and children. We will request documentation to verify the relationship.
- Family in a direct upward and downward moving line, i.e. between grandparents and grandchildren.
- Persons with disabilities*, through their legal guardian, can issue a PoA to a non-family member. This is only possible if the purpose and role of attorney is known and they don't have an account under an Introducing Broker (IB) or a Money Manager (MM) in addition to their direct account. A LPA (Lasting Power of Attorney) will need to be provided along with an LPA Indemnity Letter which can be found here.
*Persons with a long-term physical, mental, intellectual or sensory impairment which, in interaction with various barriers, may inhibit them from fully and effectively participating in society on an equal basis with others.
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What valid documentation of a relationship do you need to provide?
You will need to provide valid documentation as proof of your relationship with your PoA holder:
- Between parents and children: A birth certificate or other official document that shows the first line family relationship.
- Between spouses: A marriage certificate or other official documents recognizing the marriage.
- Between grandchildren and grandparents: The grandchildren must document their first upward line relationship with their parents in the form of a birth certificate or other official documents. The grandparents must document their first downward line relationship with their children in the same way, via a birth certificate or other official documents.
- Between siblings: A birth certificate or other official document that shows the first line family relationship.
- Clients with disabilities who issue a PoA to a non-family member, the relationship between the account holder and the attorney and the purpose of the PoA must be clear.
How can you request a PoA?
The PoA application form can be downloaded here.
The form needs to be filled, printed, signed, and submitted via a support ticket on the platform along with a proof of identity (Passport or National ID) of the PoA holder. The proof of identity must contain a signature sample.
What does the attorney need to provide?
The attorney must provide:
- A valid proof of identity with signature. Photograph of a valid Passport or driving license or National ID (Please include both the photo and the signature page)
- An email address other than the account holder's email address.
- A valid proof of residence. Detailed Utility bill/ Detailed Bank statement/ Credit card statement (not older than 6 months)/ Council Tax bill (issued within a year)