You need to bring your valid ID card to the bank to open the account, sign the personal firm offer agreement and deposit the foreign exchange.
You can also transfer your existing cash account deposits to banks that operate personal foreign exchange transactions.
Handle account opening procedures for online transactions and telephone entrustment transactions.
If OTC transactions are used, Bank of China and Bank of Communications have no limit on the starting amount of an account, while Industrial and Commercial Bank of China and China Construction Bank have a starting amount of 50.
For telephone transactions, THE starting amount is $300 equivalent foreign currency for BOCOM and $100 equivalent foreign currency for Industrial and Commercial Bank of China.
2. Individuals or institutions of a platform dealer may trade foreign exchange through a platform dealer.
Currently, China does not allow domestic companies to conduct trading operations.
If you want to do margin trading, you can open a trading account with a foreign trader.