At Volatility.com.au, we understand the importance of a streamlined account creation process. Below are the key details regarding account processing times, as well as the smaller steps or milestones you'll encounter:
1. Account Eligibility
Before initiating the account creation process, please note that currently, we support Australian tax residents only. If you are a dual tax resident, additional supporting documentation may be required which may slow down the below process.
2. Account Creation Steps
Step 1: Set Up a Macquarie CMA Account or Link Account
The first step a Cash Management Account (CMA) with Macquarie will be created or your existing CMA linked. This account serves as the primary funding source for your trades and investments. (Est. 1-2 days)
Step 2: Set Up Equity Account
Once your CMA account is set up, Morrisons will proceed to establish your equity trading account (HIN). (Est 1 day)
Step 3: Pass Quiz and Open Option Account
For those interested in trading options, you'll need to complete the Exchange-Traded Options (ETO) quiz. Successfully passing the quiz allows you to open an option trading account. (Est same day as quiz completed)
Processing Times
The processing times for each step can vary, but our goal is to make the process as efficient as possible. Here's a general overview:
CMA Account Setup or Linking: Typically takes 1-2 business days for verification and approval depending if Macquarie require any additional KYC information.
Equity Account Setup: After CMA approval, setting up your equity account usually takes one business day.
ETO Quiz and Option Account Opening: Once you pass the ETO quiz, your option trading account is typically opened the same day.
Dual Tax Resident Documentation
If you are a dual tax resident, additional documentation may be necessary. Our support team will guide you through the process and inform you of any required documentation promptly.
Check Application Status
To check the status of your application or if you have any concerns regarding processing times, log in to your account and visit the "Application Status" section.
Need Assistance?
If you have questions or encounter any delays during the account creation process, our support team is here to assist you. Reach out through the "Contact Support" option on the platform or visit Volatility.com.au/support/contact.
Thank you for choosing Volatility.com.au. We appreciate your patience as we work to ensure a smooth and efficient account creation experience.