An account with a Casa de Bolsa in Venezuela is like any other Brokerage Account: You're required to follow through with the transactions you initiate.

For example- if you call your stock broker and say "Buy me 100 shares of XYZ Corporation" the broker will execute a market order on your behalf to buy your shares of stock. You send the money to pay for that stock purchase and the broker will send you the transaction confirmation documents, but the transaction was "closed" when you told the broker to buy on your behalf.

It's the same with using a Casa de Bolsa to exchange your money. Agreeing on an exchange obligates you to follow through with either a wire transfer from outside Venezuela or a deposit in Bolivares to the Casa de Bolsa's bank account in Venezuela. Yes, the exchange rate goes up and down, just like the price of stocks, and you're expected to honor your commitments no matter what the market does after that.

People with financial experience understand this, but we occasionally get people who close a transaction and then don't want to pay for it because the price moved against them. That isn't a good idea. This is a small country and once a person is blacklisted they won't get an account anywhere.

Requirements to open an account with a Venezuelan Casa de Bolsa:

• A copy of the information page of your passport or Venezuelan Cedula.
• A Banking letter of reference.
• A public utility bill in your name (not a cell phone bill).
• Account forms filled out completely and signed.

Email us and we'll send you the forms to open an account.

It will probably take at least a week to get your account opened, and you should fill in all the documents as completely as possible.

Scan in all required documents as well as the account opening forms and email them to us so we can begin processing the paperwork, and then send the original signed documents via mail or courier.

That's it! Once your account is opened, call or email to get an exchange rate and we can proceed with the transaction.

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