KYC Policy

Know-Your-Customer

We would like to know our customers. Therefore, we ask our (potential) customers for personal details and identification documents to verify. The purpose is to prevent money laundering, financing of terrorism and other illegal activities. Furthermore, these measures will protect our clients from unauthorized use of their XBTFX account.

We understand the importance of privacy while trading, which is why all XBTFX related operations and infrastructure are built with top priority given to personal data protection.

It is important to remember that all Clients must abide by XBTFX's Terms of Service. In addition, when using XBTFX's services, Clients should always take care to follow local laws and regulations. By doing so, Clients can help ensure a positive experience when using XBTFX's products and services.

An enhanced customer due diligence(CDD) procedure may be incurred if there is reason to believe that the nature of the use of the platform’s services does not correlate with its main purpose – margin trading on a personal or a social account or following social account – as stated in our Terms of Service or is otherwise suspected of violating the T&С.

If a CDD procedure is requested for an account, XBTFX may request a user to produce some or all of the following documentation

• Proof of identity

• Proof of residence

• Source of funds

At XBTFX, we may impose trading or deposit and withdrawal limits on your account until the requested documents are provided and the CDD is completed. Once CDD has been successfully completed, any trading limits and withdrawal restrictions imposed will be lifted. This is to help protect our clients and ensure that all accounts are compliant.

Policy	What	How
KYC (No restrictions)	Personal data Proof of identity (ID, passport - acceptable documents vary by jurisdiction) Proof of residence (Utility bill or a bank statement not older than 3 months from the date of submission) Source of funds Liveliness check	The verification of documents and the liveness check is processed by Sumsub.
AML	Monitoring of cryptocurrency addresses and transactions. This allows us to detect OFAC sanctioned addresses and suspicious coins from transactions related to theft, scams, hacks, darknet markets, money laundering, financing terrorism and other illegal activities.	A Chainalysis & Crystal software solution.
Watchlist	Automated screening of (potential) customers against a global database of Sanctions and Watchlists, Politically exposed persons (PEPs), and Adverse Media.	A Comply Advantage software solution integrated within SumSub.
IP address checks for account creation and logins	If the IP address of the visitor of our website is from a Restricted Country, then it is not possible to create an account.	IP block for account creations and continuous monitoring of the IP address used for logins to verify the origin.