At Investing X, we are serious about our services and that’s why we make sure we adhere to all the important industry policies and requirements. When you sign up with us, you will notice that we adhere to the KYC and AML policies. You might find other platforms where these policies are not hat strict. However, we are very strict about them because we understand that it is you who will benefit from them at the end of the day. Let’s understand these policies and learn why their adherence is so important on our trading platform.
KYC is short for Know Your Customer. This policy is for the trading platform to collect all the important information about the customers who signs up on the trading platform. The important information means that we have to know about your physical address, your correct name, your identification number, and any other details that make you a unique person. On the basis of this, we can create a unique account for you on our trading platform. The information that we need from you is a requirement of the industry. We will only be unfair to you if we don’t ask for that information.
Firstly, you will have to provide your correct name. In addition to that, you will have to provide us with your identification number to ensure that you are using your correct name. In addition to that, we will need you to send us the pictures of your last 3 months bills. These bills are used to verify your physical address. We will also require you to share with us your personal identification number that is located on your driver’s license or identification card that has been issued by your government. Unless you give out these details, you will not be able to sign up.
This policy is just as important as the KYC policy and you will see most reliable online trading platforms adhering to both these policies. AML stands for Anti-Money Laundering. This means the policy governs the provision and verification of banking data that a trader provides us with when signing up. If you don’t provide correct and verifiable data, you are not allowed to perform any banking on the website. We will require you to give us your banking account number or your credit/debit card number. You will have to show us that your name appears on those documents as it appears on your ID card.
Furthermore, you have to be sure that the account or method you use for depositing funds and withdrawing funds from your account is the same. Also the name on your withdrawal and deposit account should be the same. You will have to send us a picture of your debit or credit card from the back and the front. You will also have to share the number along with other details that confirm the account belongs to you.
Our purpose of adhering to these policies is to protect your interests only.