1. What is third-party authorization?
2. Who needs to submit a letter of third-party authorization?
3. Do I need to submit the authorization if I already have an account with Futu HK?
4. What are the consequences of granting authorizations to third parties?
5. Is it possible to cancel my authorization?
6. What is the validity period of the authorization?
7. What is the process of granting third-party authorization?
Third-party authorization refers to the practice of a client appointing or authorizing their immediate family members to manage their investment account and give instructions on their investment account on their behalf. Such instructions include but are not limited to:
1.1 Give trading instructions
1.2 Provide funding and submit deposit requests
1.3 Submit withdrawal requests to withdraw funds to the account of the authorizer
If clients need to authorize their immediate family members to operate their accounts opened with Futu HK, they must submit a letter of third-party authorization.
If you already have an account with Futu HK, you still need to submit a letter of third-party authorization to appoint your immediate family members to give instructions on your account. The authorization has an expiration date. Clients who have already authorized may be requested to update their authorization.
There will be no impact on your access to account features. However, it is important to note that the authorizee will be able to operate your account and you will be responsible for any risks and liabilities arising from their actions.
To cancel or terminate your authorization, please notify Futu HK in writing.
The authorization is valid for one year. Before the expiration of the one-year validity period, we will notify you about the renewal via email.
Both the client and the authorizee need to present at Futu HK's Admiralty office together to process the authorization. The client needs to provide the following documents:
1. Letter of third-party authorization
2. The original ID card/passport of the client
3. The original ID card/passport of the authorizee
4. Proof of relationship between the client and the authorizee (e.g. birth certificate, marriage certificate, etc.)
Note: Our staff will provide the letter of third-party authorization on-site for the client to fill out and sign.