Anti-Money Laundering Policy

Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate, so that its illegal source cannot be traced. Domestic and international laws that apply to companies, whose customers can deposit and withdraw funds from their accounts.

Solofxb strictly follows the provisions of the anti money laundering and counter terrorism financing policy and demands that its employees fully observe these standards. The Company therefore takes all necessary measures to detect and counter money laundering and terrorism financing. The internal rules are observed in accordance with the relevant international requirements.

Solofxb anti-money laundering procedures

Implemented Procedures

The objective of Anti-Money laundering procedures that Solofxb implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers. Solofxb is committed to assisting governments combat the threat of money laundering and financing terrorist activities around the world. For that purpose Solofxb has set up a highly sophisticated electronic system. This system documents and verifies client identification records, and tracks and maintains detailed records of all transactions.

Solofxb carefully tracks suspicious and significant transaction activities, and reports such activities "providing timely and comprehensive information" to law enforcement bodies. To uphold the integrity of reporting systems and to safeguard businesses, the legislative framework provides legal protection to providers of such information.

In order to minimize the risk of money laundering and financing terrorist activities, Solofxb neither accepts cash deposits nor disburses cash under any circumstances. Solofxb reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity. It is forbidden for Solofxb to inform customers that they have been reported for suspicious activity.

Clients' identification and verification

For the purpose of complying with Anti-Money laundering laws, Solofxb requires two different documents to verify the identity of the customer. The first document we require is a legal government-issued, identifying document with the picture of the customer on it. It may be a government-issued passport, driver's license (for countries where the driver's license is a primary identification document) or local ID card (no company access cards). The second document we require is a bill with the customer's own name and actual address on it issued 3 months ago at the earliest. It may be a utility bill, a bank statement, an affidavit, or any other document with the customer’s name and address from an internationally recognized organization.

Clients are required to submit up to date identification and contact information in a timely manner, as soon as changes occur.

Documents in non-western letters must be translated into English by an official translator; the translation must be stamped and signed by the translator and sent together with the original document with a clear picture of the customer on it.

Payment Policy: Deposits and Withdrawals

Solofxb requires all deposits to come from the sender, whose name is matching the name of the customer in Company’s records. Third party payments are not accepted.

To make a withdrawal from a trading account to one of these systems, a correspondent demand must be sent via Client’s Cabinet. Money will be loaded into the wallet within 3 business days. If money has been lost when trading, it cannot be reimbursed by means of a chargeback. Please read the risks disclosure before you start trading:  https://www.solofxb.com/riskdisclosure/.

Funds may be withdrawn only to the same account and by the same way it was deposited. The name of the recipient must exactly match the name of the customer in Company’s records. If the deposit was made by wire transfer, funds may be withdrawn only by wire transfer to the same bank and to the same account from which it originated. If the deposit was made by means of electronic currency transfer, funds may be withdrawn only by the means of electronic currency transfer through the same system and to the same account from which it originated.

Please be aware that chargebacks to any payment system and bank cards are prohibited.

The Company accepts deposits in the following currencies: EUR, USD, GBP, RUB, JPY, CHF, CAD, AUD, NZD and others.

If you have any inquiries, please contact us via e-mail: finance@solofxb.com

 

KYC (Know Your Customer) Policy

Know your customer policies have become increasingly important worldwide lately, especially among banks and other financial institutions, in order to prevent identity theft, money laundering, financial fraud and terrorist activity.

SoloFX holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all related accounts to it will be immediately closed. All funds in these accounts will be forfeited.

Prevention:

SoloFX aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method.

When you deposit funds we will require the following documents

 

 

PROOF OF ID

Government Issued Photo ID: International Passport or National ID (Front & Back),

clearly indicating your full name, date of birth, signature, photo, issue date & valid expiration date and MRZ lines,

if applicable. Your name must correspond with the name you supplied on your application.

 

 

Scan or take a photo of your

Government issued Photo ID or Passport.

 

 

Proof of Residence

Utility Bill [i.e. Gas, Electricity, Landline Telephone, Internet, Tax] or Bank Statement/Credit Card Statement – dated within the last three months. Your Proof of Residence must correspond with the name and address as indicated on your application.

 

 

CREDIT CARD

If you choose to fund your trading account with a Credit/Debit Card

– a copy of both sides indicating your name, expiration date, last four digits on the front and signature on the back.

This is to ensure that payments and withdrawals are made only to and from the Card in your possession.

 

 

Scan or take a photo of your credit card

(Please make sure the 4 corners of the card are within the frame)

To maintain the security of your card we recommend you cover the numbers on the front of your card except the last 4, and the CVV code.

 

 

DOD

A signed purchase history of your online transactions DOD.

Download here

 

 

Bank Wire Confirmation

If you choose to transfer funds via Bank Wire – provide the Bank Wire Confirmation.

 

 

If you have any questions, please don’t hesitate to contact our customer support:

compliance@solofxb.com

Documentation criteria:

- Scan or high resolution digital photograph

- Color copy

- All four edges visible

- Use *.jpg, *.jpeg, *.png, *.gif, *.pdf, *.tif, *.tiff, *.doc, *.docx or *.rt

When do I need to provide these documents?

We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit.

Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades.

Please note that if we will not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account. We will notify you on such event via our system.

How can I send you these documents?

Please scan your documents, or take a high quality digital camera picture, save the images as jpegs, then send it to us via mail to

compliance@solofxb.com

How do I know my documents are safe with you?

SoloFX holds the security of documentation at highest priority, and treats all documents it receives with utmost respect and confidentiality. All files we obtain are fully protected using the highest level possible of encryption at every step of the review process.

We Thank You For Your Cooperation In Helping Us Make SoloFX A Safer Place To Trade!