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Wisetrades KYC Policy

Wisetrades recognizes the importance of adhering to anti-money laundering and counter-terrorism financing regulations. Our KYC Policy is designed to create a secure and comfortable trading environment while ensuring compliance with these regulations.

User Identification Process

When opening an account, Wisetrades must verify its users' identity following the AML Policy. To achieve this, users are required to complete a comprehensive and accurate identification process, providing the following information:

  • Full legal name.
  • Residential address.
  • Date of birth.
  • Contact information.
  • Nationality.
  • Government-issued ID or passport.

Document Submission

For user verification, Wisetrades accepts the submission of one of the following documents:

  • A clear photo of the client's passport or ID card (both sides)
  • A utility bill (not older than three months, full-sized)

Documents in languages other than English must be translated and notarized. Users are requested to send clear scanned copies or photos of the original documents to our compliance department via email:

Email: support@wisetrades.online

Accepted document formats:

  • Jpg.
  • Jpeg.
  • Pdf.

Identity Document Requirements:

  • The document must be fully opened, and all applicable pages should be provided.
  • Each page must be visible on both sides without any parts hidden or outside the scan/photo.
  • Avoiding glare from the flash is crucial.
  • The document should be readable and legible.

Age and Validity Requirements

Every Wisetrades user must be of legal age during account creation, and the identification document submitted must be valid.

Funds Depositing Requirements

  • The account holder's name should match the name in the identification document.
  • Wisetrades does not accept payments from third parties.
  • Adherence to accepted depositing and withdrawing procedures is mandatory.

Money Laundering Prevention

Wisetrades employs advanced anti-money laundering procedures, including:

  • Monitoring and checking all transactions.
  • Reserving the right to refuse cooperation with clients not adhering to the AML Policy.
  • Reporting suspicious transactions to appropriate authorities.
  • Prohibiting funds originating from criminal activity.
  • Requesting documents confirming the origin of client funds for suspicious transactions.
  • Cancelling transactions and blocking accounts in cases of detected fraud or deception.

Wisetrades is committed to maintaining a secure trading environment and reserves the right to take necessary actions to prevent illicit activities.

Enhanced Security Measures

In addition to our rigorous AML and KYC procedures, Wisetrades has implemented enhanced security measures to safeguard user accounts and maintain the integrity of our trading platform.

1. Providing Personal Data:
Users must furnish all necessary personal data when opening an account, including a valid ID, address, contact email, and personal phone number.

2. Withdrawal Restrictions:
Withdrawals can only be processed in the account holder's name. The client must provide accurate account details for all money transfers, and funds can only be transferred back to the source.

3. Individual Registration:
Users are only allowed to register accounts for themselves.

4. Third-Party Funds:
Users cannot accept funds from third parties for management on their behalf.

5. Account Transfer Prohibitions:
Selling, transferring, or exchanging user accounts or funds among users is strictly prohibited.

6. Single Account Limit:
Each user is limited to one account; transfers or withdrawals with fake data to other user accounts are strictly prohibited.

7. Document Requests:
Wisetrades may request additional identity documents at its discretion or in compliance with client identification procedures. The company reserves the right to block accounts until complete information is provided temporarily.

8. Anti-Fraud Checks:
Wisetrades may use provided personal data for anti-fraud checks, which may be shared with relevant organisations combating fraud.

9. Record Keeping:
Wisetrades retains records of electronic correspondence for quality control and fraud prevention.

10. Additional Client Checks:
Wisetrades reserves the right to conduct at least one additional client identification check to reduce the risk of fraud.

11. Annual Client Identification:
Client identification procedures are conducted at least once per year.

12. Updating Personal Information:
Clients must undergo a new verification procedure if personal information changes. Any changes to identification documents must be promptly provided.

13. Verification Sources:
Wisetrades accepts information solely from the client and may contact them for clarification or correction.

14. Fund Transfer Purpose:
Transfers of funds by clients are permitted solely to conduct trading operations on the platform. Wisetrades reserves the right to block accounts if fund transfers are suspected of violating laws or policies.

These KYC and AML procedures are essential for uninterrupted, transparent, routine business conduct. Wisetrades may engage independent contractors to ensure compliance with applicable laws and regulations.