In order to comply with global Anti Money Laundering (AML) rules and the regulations and more importantly to make it easy and secure for the clients TradeFCM 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 14 working 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 TradeFCM.
Proof of Identity (POI) – TradeFCM require a clear government issued photo ID. POIs issued by workplace or schools are not accepted. The name, Date of birth and the address must be clearly visible.Passport, Driving License, Government Issued Citizen ID, Employee IDs issued by Government Departments.
Proof of Address (POA) – An address proof is required by TradeFCM which clearly states the address of the client. The POA should be on client’s name and should not be more than 6 months old.
Mobile/Landline Bill, Credit Card Statement, Bank Statement, Utility Payments Bill.
Credit Card – If the deposits are made with Credit Cards or Debit Cards TradeFCM require front & back of the card issued in order to verify the ownership of the card. Clients are requested and strongly suggested to hide the CVV number at the back of the card. TradeFCM never requests for the CVV number since that is confidential & should not be disclosed. Clients may also hide the middle 8 digits of their card number. Clients’ name & signature should be visible.