What AML Policies do we adhere to?
The AML/CTF policy and procedure at 4X Brokers identified below is focused around adherence to guidelines that make sure that funds are securely sent back to the originating entity.
- 4X Brokers takes note of funding from various bank accounts outside of the client’s home country.
- 4X Brokers bases its actions on the AML/CTF framework set forth by the Financial Action Task Force (FATF)
- 4X Brokers neither accepts nor disburses cash under any circumstances.
- 4X Brokers matches each remittance to the account name on file for that client, so as to ensure that funds are always allocated to the matching entity.
4X Brokers reserves the right to refuse processing a transaction at any stage where it believes there to be an AML/CTF or criminal concern. In accordance with international law, 4X Brokers is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.
AML / KYC Rules
Assets can be withdrawn only to accounts that belong to you. The withdrawal of assets to third parties is prohibited. Internal transfers between the 4X Brokers customers are also prohibited.
4X Brokers is obliged and has the right, without obtaining prior consent, to share with financial institutions and law enforcement agencies any information about you, as required by applicable law. By using our Web site and trading platform, you give 4X Brokers your consent to these actions. In order to comply with this paragraph, 4X Brokers retains records for a minimum of five years.
You agree to adhere to legislation, including international laws, aiming to combat illicit trafficking, financial fraud, money laundering and legalization of funds obtained by illegal means. You will use your best efforts to avoid direct or indirect participation in illegal financial activities and any illegal transactions using 4X Brokers’ Website and Services.
You guarantee the legal origin, legal ownership and the right to use the assets transferred to your account. In case of the evidence of suspicious transactions on your account, cash replenishments from untrusted sources (for example, if the identities of assets’ sender and trader are different) and / or any actions indicative of possible fraud (including any refunds or cancellation of payments), 4X Brokers reserves the right to conduct an internal investigation, to block or close your access to the trading platform or any other account, cancel any payment or trading order, and to suspend operations on the accounts before the end of the official investigation. When making the decision, 4X Brokers is guided by the provisions of the applicable law, FATF recommendations and/or by common practice.
4X Brokers has the right to request additional information about you at 4X Brokers’ sole discretion. 4X Brokers also reserves the right to block access to your trading platform or any other account during the investigation if you refused to provide the additional information requested by 4X Brokers.
In the course of investigation, 4X Brokers has the right to request additional copies of documents confirming your identity or identity of other individuals in corporate structure, as well as documents confirming place of residence and lawful possession and legal origin of funds. 4X Brokers also has the right to demand access to original documents for review in case of any suspicions or concerns on 4X Brokers’ part.
4X Brokers does not provide Services to persons and legal entities who are located in jurisdictions that are “blacklisted” by FATF.
4X Brokers may refuse to perform operations that, from 4X Brokers’ point of view, are deemed suspicious. By using our Web site and trading platform, you are agreeing that 4X Brokers may take preventive measures as it deems appropriate (such as blocking or closing of a customer’s trading platform access or any account), and doing so will not serve as grounds for civil liability of 4X Brokers for failure to fulfill obligations to you.
4X Brokers is not obligated to inform you or other persons about the measures taken to fulfill the requirements of AML/CFT legislation. Also, 4X Brokers is not obligated to inform you or other persons about any suspicions, reasons for refusal of execution of your trading order, refusal to open the account, need for providing any documents, etc.
This document is just a summary, intended to clarify our rights and our intention to contribute in the worldwide AML initiative.
This Anti-Money Laundering and Know Your Customer policy is an integral part of any agreement entered into between you and 4X Brokers. Non-compliance with this policy can be grounds for termination of the agreement at 4X Brokers’ sole discretion.