KYC stands for Know your Customer and AML stands for Ant Money Laundering
An effective anti-money laundering compliance program must include “know your customer” procedures. and visa versa.
Information must be provided to learn the true identity of our Clients, the nature of the clients’s business, and the intended purpose of the clients’s transactions.
As broker,Legacy FX shall be responsible for:
(a) Providing the account application
(b) Conducting AML and KYC procedures
(c) Clearing and monitoring of all trades
(d) Being the custodian of the accounts, funds and paperwork.
Each trading account applicant must first be approved and accepted by the compliance department of Legacy FX before funding the trading account is accepted and trading is allowed.
For legal and KYC purposes, a client may be defined as:
- A person or entity that maintains an account and/or has or had a business or other relationship with LegacyFX.
- Beneficiaries of any transactions conducted by, with or for
- Any person or entity having any connection with a financial transaction related to LegacyFX.
In order to complete the compliance procedure, you will need the following documentation:
Proof of Identity
- A copy of a government-issued ID (Can be your current passport/government ID/driver’s license).
- This must be valid for at least 3 months, have a clear photo of your face, show your full name and your date birth.
Proof of address
- A copy of a utility bill from the last 3 months such as water, electricity, gas, telephone bills, bank/card statement or a letter issued by a recognized public authority.
- This must contain your name and current residential address on the date of issue.
A copy of your credit/debit card
- Both sides of your credit/debit card.
- Front of card – we recommend you hide your credit card number apart from the last 4 digits, we also need to see your name and the card’s expiry date.
- Back of card – we need to see the back of your credit card, apart from the last three digits (the credit card verification or CVV, which we recommend you hide).
- In the case of wire/money transfer, please provide a payment receipt.
Once this procedure has been completed, a client is considered to be verified and can legally trade using our platform. Before the compliance process is completed, trading is not permitted and any profits earned will be null and void.