KNOW YOUR CUSTOMER POLICY

KNOW YOUR CUSTOMER POLICY

In compliance with the terms Client identification, we are required to correctly identify our Clients. The personal data we receive is handled in accordance with the guidelines of the Agreement. Please note that the reason for the identification procedure is  also to comply with anti-money laundering laws which also guard against the financing of terrorism, not because we suspect you of committing illegal acts. Accordingly, your cooperation and understanding of these steps is essential.

The Know your customer policies have regularly been revisited by Trades.com, and these policies advise Trades.com to follow certain Customer Identification Procedure for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority. This policy is applicable across all business segments of the Trades.com abroad and is to be read in conjunction with related operational guidelines issued from time to time.

This Know your customer policy applies to all new and existing Trades.com Clients relationships. KYC policy includes customer identification procedures, monitoring of transactions, risk management, training program, internal control system, record keeping, and evaluations of KYC guidelines by internal audit and inspection system, duties / responsibilities and accountability

Step of Ascertaining Customer Identity

Ascertaining Customer Identity When establishing a relationship with a customer Trades.com will ascertain the identity of a person or the existence of an entity within acceptable timeframes using acceptable identification methods.

For natural persons the following information should be obtained:

  • legal name and any other names used (such as maiden name);
  • correct permanent address, the full address should be obtained, a Post Office box number is not sufficient (utility bill, tax assessment, bank statement, a letter from a public authority);
  • telephone number, fax number, and e-mail address;
  • date and place of birth;
  • nationality;
  • occupation, public position held and/or name of employer;
  • an official personal identification number or other unique identifier contained in an unexpired official document (e.g. passport, identification card, residence permit, driving licence) that bears a photograph of the customer;
  • type of account and nature of the relationship;

For corporate entities (i.e. corporations and partnerships), the following information should be obtained:

  • All statutory documents (Certificate of incorporation, memorandum and articles of association), and amendments to them (original or certified copies).
  • Details on the shareholders, directors and ultimate beneficial owners (same details as those for natural persons described below).
  • Powers of attorney for the persons carrying out interaction with the Company on behalf of the Customer (issuing orders, signing documents for opening the account and other procedures).
  • confirmation of the bank transfer. The information of the bank account must be identical to (a) and (b) above. Otherwise, the deposit must be returned to the same bank account it came from, immediately, without crediting the trading account.
  • contact telephone and fax numbers;

Step of Collecting and Recording Clients Information

Collecting and Recording information about Clients is essential to tailoring our service, and Trades.com will collect and record all necessary information regarding current and prospective Clients including beneficial owners, intermediaries and other interested parties and will establish the purpose and intended nature of each relationship. Where applicable, we will record the type, volume and frequency of expected account activity and we will make enquiries into the source of incoming funds or assets. The extent of such measures will be determined on a risk-sensitive basis depending on the type of Client, business relationship, transactions, products and services.

Step of Verifying Clients Information

Verification of identity is a process carried out to ensure that a person is who they claim to be. Verifying Clients Information Trades.com will take reasonable and appropriate measures to verify the key information provided by prospective Clients to reliable independent sources. For relationships that represent a higher level of risk we will perform additional verification activities. The purpose of carrying out verification of identity is to reduce the risk of identity fraud and the registration of fraudulent land transactions and  we refuse to enter into or relationships or conduct transactions with any persons or entity that provides false, inconsistent or conflicting information.

Step of Monitoring and Updating Clients Information

Monitoring and Updating Clients Information Trades.com will monitor Client activity to identify and report transactions that may be indicative of illegal or improper activity. We will keep information and documents regarding the Client and their business and activities as accurate, complete and up-to-date for the minimum period of time required. When changes in a Clients behavior become noticeable to us, we will take steps to determine the reasons for such a change.  

We highly appreciate you reading this Policy, and please, take your time and provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions.  We require the receipt of all the necessary documents prior to making any cash transactions to your benefit. Please note that if we will not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account.

If you have any questions please don’t hesitate to contact our Client support: support@trades.com

 

We thank you for helping us in making Trades.com a safe place to trade.