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QTradeFX is required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Legislation (AML/CTF Laws). To help the government fight the funding of terrorism and money laundering activities, law requires all financial institutions to obtain, verify, and record information that identifies each person opening an account. QTradeFX has developed internal Anti-Money laundering and Counter-Terrorism Policy (hereinafter – AML Policy) based on the risk assessment, so the objectives of the AML/CFT Laws can be achieved. These are:
By applying for an account with QTradeFX you are taken to agree to the following terms:
According the AML Policy, QTradeFX will conduct initial and ongoing due diligence, depending on the level of risk posed by a particular customer.
For Retail Customers:
In compliance with the ANTI-MONEY LAUNDERING REGULATIONS, QTradeFX will ask for the minimum identification information from each customer who opens an account. QTradeFX will record the customer’s identification information and the verification methods and results. QTradeFX will also provide notice to customers that we will seek identification information and compare customer identification information with government-provided lists of suspected terrorists.
This minimum information may include:
In order to verify the abovementioned information QTradeFX will require submitting the following documents:
Please contact support@QTradeFX.com to get more information regarding the verification procedure and documents requested from you.
For Wholesale Customers:
In compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, this minimum information may include:
Important Announcement Regarding Internal Money Transfers
QTradeFX has detected comments placed by Clients in various Forex forums, web-sites and blogs regarding the ways of money transferring between QTradeFX accounts.
This is to inform that for the purposes of mitigating and managing the potential ML/TF risks faced by QTradeFX, internal transfers between QTradeFX Clients are permitted for the trading purposes. Trading purposes shall be defined as the purposes by which QTradeFX in its sole discretion, may recognize as trading purposes aimed at generating profits from speculating activity according to the Agreement made between Client and QTradeFX.
QTradeFX monitors the trading activity of each Client and reserves the right to block an eWallet and/or trading account and prohibit any activity including, but not limited to withdrawals, in its sole discretion if QTradeFX has reasonable grounds to suppose that the internal transfers of the account holder are in breach of the law and the QTradeFX Anti-Money Laundering and Counter-Terrorism Policies and/or is not recognized by QTradeFX to be used for trading purposes as expressly stipulated above.
Please be informed that based on the aforementioned, QTradeFX following the suspicious account blocking shall conduct its internal review procedure regarding accounts in question for not less than 180 days and inform the respective authorities on the issue.