In order to comply with Anti Money Laundering (AML) rules and the regulations of the Financial Service Authority United Kingdom (FSA) under which the parent International Business Company (IBC) is registered and incorporated and more importantly to make it easy and secure for clients to trade it is required that we conduct proper verification in compliance with Know your customer (KYC) procedures followed globally. The KYC process makes it possible for clients to secure their accounts since no unauthorized entity can access clients details or withdraw funds from the account.
In order to complete the KYC we require valid identification documents to be provided by clients these are verified by our compliance department in order to verify the client’s identity. This is a standard practice followed for all our clients worldwide.
We require the following documents within 15 days of clients trading account being activated. The documents provided should be valid and clearly readable. The clients name on the documents should match with the name he has registered on his trading account with Trade Forex .
We require a valid photo ID of the client which is issued by the government only hence Id’s from workplace or college/school are not accepted.The Name, date of birth and photo of the client should be clearly visible.Eg: Driving License, Passport, employee ID card issued by Government or Army/Defense, Photo ID issued to citizens by the Government.
An address proof, which clearly states the address of the client, the address proof should be on clients name and should not be more than 6 months old. Eg; Mobile/landline bill, Bank statement, Credit card statement, utility bill (electricity, gas, internet, etc.)
For deposits via credit/debit cards in order to verify the owner of the card we required that client sends us the front & back copy of the card used.Clients are requested to hide the secure CVV no. at the back of the card, since that is confidential and should not be disclosed to anyone hence we never request for it.Clients should they want to, can also hide the middle 8 digits of their card we only need to verify the first 4 and last 4 digits of the card. Clients name should not be hidden.
We may require that clients sign an online purchase/deposit voucher this is for confirmation of payment made by client online (applicable in certain countries only). This helps since in these countries we do not require the client’s credit card copy the payment voucher is acceptable instead.