deVere Investment Platform

1. What is deVere Investment Platform App? 

The deVere Investment Platform app (‘’DIP app’’), is a low-cost execution-only app offered by deVere Investment, which is a regulated investment banking company.  The DIP app allows you to purchase Structured Notes (SNs) on a day-to-day basis.

2. How do I register on the DIP app?

First download the app on your phone by searching for ‘deVere Investment’ on either the App Store or the Google Play Store. Once it is downloaded, the instructions for registration will be shown on the screen.

3. What documentation is required to register on the DIP app?

•    A selfie
The selfie must be a current picture of yourself and includes your full face and shoulders with no hats, sunglasses or other obstructions.

•    Proof of identity
The identification document must be pre-signed and must be in an original form and should bear a photograph of the principal. It must be clear and include your full name, date of birth, nationality, validity period, ID number and signature. A live image of your original passport taken on the app is acceptable. In some instances, a live image of an original driving licence or government issued identity cards are acceptable. 

•    Proof of address
The proof of address must be the live image of a full-page original utility bill, dated within the last three (3) months, from an official service provider or an original bank statement or original full and signed tenancy contract with its tenancy period. The proof of address should be dated and include your full name, current residential address and should be in either English or French language.

PO Box addresses are not acceptable. 

4. How will I know that my registration has been approved?

Once you have submitted all the three documentations stated above, you will receive an automated e-mail informing you that your registration has been approved.

5. Can I open a joint account on the DIP app?

Yes, you can. You will have to upload the above documentation for the other party as well. In addition, you will have to provide us with a letter authorising us to add the person to your account.

6. Who do I need to contact for any queries?

Upon approval of your application, you will be allocated a Consultant whom you can contact in case of any queries. You can also contact us on [email protected]. 

7. When will I be able to start trading?

Once your registration has been approved, you will receive two e-mails, one for the FATCA/CRS and for the Sources of funds questionnaire. Both documents will need to be filled in and signed. Upon receipt of same and upon compliance check, your account will be set as tradable. Additionally, you will be notified once the documentation provided at registration stage has expired. You will need to provide updated ones upon request to be able to continue trading with the app.

8. Do I need to submit any additional information?

We may ask you for additional information or evidence to verify your details, source of funds or transaction details. At any time during the term of our relationship, your consultant or our csv team may contact you to confirm your details. 

9. How do I fund my account?

We have three (3) foreign currency bank accounts denominated in US dollars, GB pound and Euro. Depending on the currency of your transaction, you can transfer the funds to the designated bank account details appearing on your app.

10. Are there any fees involved?

App/Trade Fees
0.2% per annum custody fee
3% per trade on ETFs and Funds
Zero Trade Fee for Note purchase
Zero Trade Fee and 4% Initial Charges on dVAM Funds

Advisor Fee
An advisor fee of 1% is paid for professional advisory services on your investment

11. How will I know the benefits/charges/prices/conditions applicable to my trade instruction?

You must read through all the term sheets whereby you will find all the details accordingly.

12. When do I need to send my trade instructions?

You need to ensure your account is sufficiently funded with your trade value and trade fee before sending a trade instruction on the DIP App. 
It is recommended that you send us your trade instructions for Structured Notes at least two (2) business days before the Strike Date.

13. What are the steps to secure a trade in a different currency compared to my deposited funds?

We will conduct a forex transaction at the rate provided by our bank. Any converted amount appearing on the app is at an indicative forex rate. You will bear any currency gain or loss on the forex transaction. There will be no forex fee charged. 

14. How do I withdraw my funds?

For any request to withdraw, you must send a written instruction to [email protected]
You need to state your withdrawal amount request, provide your full banking details, and also a copy of the original proof of transfer that was made to deVere’s bank account. The funds will have to be returned to the original bank account.

15. Are there charges applicable for withdrawal of funds?

Currently, deVere does not charge its clients any fees for withdrawal. All the withdrawal bank charges applicable will be at your expense.

16. Can I have a pdf statement of cash position and security position?

You have a live daily data of your cash balance and security holdings on your DIP App account. You can request your cash holdings and securities holdings on [email protected]. Our Investment Admin team will revert to you. 

17. Can I change my details on the DIP App?

You can change your details. We will request you supporting documents where applicable and our csv team may perform security checks calls. 

18. What do I do if I forget my sign in details?

Please click on forget password option on the DIP App and try re-login. You can contact us on [email protected] if you are still unable to access your account. 

Any queries or instructions from you will be accepted only where you have used your registered email address to contact us or your assigned consultant. 
 

Discretionary Management Service

1.What is Discretionary Management?

Discretionary Investment Management is a form of investment management in which buy and sell decisions are made by a portfolio manager on behalf of the client's portfolio, by deVere Investment.

2.How do I apply for DM?

After selecting the type of investment that best suits your financial strategy, your risk rating will be assessed with your financial consultant. You will then need to fill an Investment Adviser Appointment form and choose between providing instructions only with your consent or allowing all investment decisions to be done without consultation under Discretionary Authority.

3.What are my strategy options?

Our in-house investment managers have expertly created 4 investment strategies as well as 4 risk-rated Model Portfolio strategies that can be combined with the 2^nd and 3^RD discretionary model.

4.What is the charge?

The charge is 1% per annum of the assets under administration as a management fee.

5.Which institutions accept DM?

Old Mutual International, Royal London 360, Providence Life, Generali International and Friends Provident International.

6.Which are the levels or risk?

The deVere Model Portfolio Service uses an innovative and modern approach to create 4 different risk-targeted model portfolios with the aim of maximising potential returns while remaining faithful to each individual client’s attitude to risk.

 

deVere FX FAQ’s

1. What is a currency transfer?

The deVere Model Portfolio Service uses an innovative and modern approach to create 4 different risk-targeted model portfolios with the aim of maximising potential returns while remaining faithful to each individual client’s attitude to risk.

2. What is a forward contract?

A forward contract is a deal between two parties, to buy or sell a particular currency on an agreed date in the future, at a rate agreed in the present.
The present rate, also known as the forward rate, allows investors to take advantage of favourable exchange rates of up to 2 years before the client actually needs to send or receive the particular currency.

3. What is a spot contract?

A spot contract enables the client to buy or sell a currency for immediate delivery; it is ideal if you wish to make a fast transfer, and thus benefit from an excellent exchange rate. The “spot” price is the live rate that is available in the interbank currency market.

4. What are the different types of orders?

Exchange rates fluctuate constantly and can be difficult to predict, so as well as simply buying at the current rate, deVere Foreign Exchange offers the following order types to help you make the most from your transaction. This is particularly relevant to clients who have a strong view on future exchange rates.

1. Buy Now
This is the simplest and most commonly used order type. This means that the client simply decides when they wish to buy or sell currency.
2. Limit Order
A limit order is an order that is assigned to the deVere Foreign Exchange trader to buy a currency at a pre-determined market level (i.e. better than the current rate). deVere Foreign Exchange traders will then monitor the order 24/7 and the currency is purchased automatically when the client’s desired target level is achieved.
3. Stop Loss Order
A stop-loss order allows the client to set a minimum rate at which they wish to buy their currency. This would effectively be the worst acceptable exchange rate. Therefore, if the market falls to this rate, the currency will be purchased automatically. This gives the client peace of mind that they are protected from any significant decline in the exchange rate.
This strategy, therefore, guarantees that the exchange will be made within a certain price range. Orders can be adjusted or cancelled at the client’s instruction at any time prior to being fulfilled.

5. What is the deVere Foreign Exchange Regular International Payments service?

The deVere Foreign Exchange Regular International Payments service is ideal for those who have a requirement to send a regular fixed amount overseas, with minimal hassle and expense. deVere Foreign Exchange will buy the currency each month for you and send it to the nominated account.

6. How do I protect myself against exchange rate fluctuations for regular payments?

The deVere Foreign Exchange Regular International Payments service is a highly cost-effective and simple way to send money abroad on a regular basis. This service is made for regular transfers of between £500 and £10,000 per month, over a minimum period of 6 months.
The deVere Foreign Exchange experts would suggest that using the Regular International Payments service has proven to be more cost-efficient, rather than choosing a fixed rate using a forward contract.

7. Why use a foreign exchange broker rather than the bank?

Banks have the ability to wire money from one country to another by changing the currency of the money in the process. However, banks use their own exchange rate, which will not be as good as the rate you could get from a specialist foreign exchange broker.
Furthermore, the process takes a few days to complete, meaning that you cannot pick the rate you want. Banks may also charge hefty amounts for these transactions, and some countries put restrictions on the amount that can be exchanged in one transaction.
Undoubtedly, using a specialist foreign exchange broker is a more efficient and economical way of changing your money from one currency to another, as they will offer you better rates than the banks, as well as providing expert advice on when it is best to exchange the currency.

8. How do foreign exchange brokers profit?

Currency brokers are able to secure rates that are not available to the general public by buying large volumes of currency directly from the money markets. The profit they make comes from the small margin between the rate at which they buy the currency from the market and the rate at which they sell it.

9. What is deemed acceptable photo identification for the application process?

The identification document must be a picture ID. It must be clear, valid, include date of birth, issue and expiry date, full name, ID number & signature. We accept passports, picture driving licences and government-issued ID cards.

10. What is deemed acceptable proof of address for the application process?

Proof of address needs to be in the name of the client and include the client’s first name and surname. It needs to be readable, in either English or French and show an issue date within the last 3 months. PO Box addresses are not acceptable. We also do not accept insurance letters, mobile phone bills or reminders.
We do accept bank statements, gas, water and electric bills, broadband and cable TV bills & tax bills.

11. What documentation is required to open a dVFX corporate account?

1. Current copy of Certificate of Registration

2. Signatures of all authorised persons

3. Valid and certified copy of Passport/ID Card of all authorised persons

4. Certified copy of Passport/ID card of the beneficial owner(s) (All person holding a controlling interest of more than 25% of the capital)

5. Copy of Approval of Regulation

6. Copy of Articles of Association

7. Source of Income

8. Background of the company

9. An recent extract from the trade register or any other official document that proofs the incorporation and the legal status of the company (nationality, legal form) including details on the name of the directors and managers and the provisions governing the power to commit the entity as well as the address of its registered office.