KYC and AML policy

01Introduction

This policy explains the identity checks and monitoring that apply when you open and use an account with TradeX AI. KYC stands for "know your client", AML for "anti-money laundering", and the related duty to prevent terrorist financing is often written ATF.

The purpose of these procedures is to keep clients' money and accounts safe, to stop the platform being used for crime and to meet the legal requirements that apply to us in Canada. They are not a sign that we doubt you, and they apply to every client in the same way.

02What is KYC

KYC is the process of identifying a client and checking that the information they give us is true. We confirm your name, date of birth and address, and we confirm that the person using the account is the person named on it.

KYC is done when you register and onboard, and it is refreshed when your details change or when the law or our risk assessment requires it.

03What is AML

AML covers everything we do to prevent money laundering, which is the process of making money from crime look legitimate. It includes assessing the risk that comes with each client and each kind of transaction, keeping records and watching activity for patterns that look unusual.

When activity looks suspicious, the law may require us to report it to the authorities, and in some cases we are not allowed to tell the client that we have done so.

04Why we verify identity

Verification does four jobs. It prevents fraud, such as someone opening an account in another person's name. It protects your account, because a verified owner can recover access when something goes wrong. It lets us meet the requirements that apply to us. And it lowers financial risk for everyone who uses the platform.

05Documents we need

We ask only for what we actually use. To confirm identity, we need one valid government-issued photo document, for example a Canadian passport, a provincial or territorial driver's licence or a permanent resident card. To confirm address, we need a recent document showing your name and home address, such as a utility bill or bank statement dated within the last three months.

The selfie is compared with the photo on your identity document to confirm that you are the same person. We do not ask for documents that we do not use.

Documents must belong to you, be in your own name and match the details on your registration. If a document is in a different language from English or French, a certified translation may be needed. Photographs of documents are accepted, but screenshots and photocopies of photocopies usually are not, because security features are lost.

06Verification process

The process has five stages. You register, then provide your details and documents through the secure upload screen. An automated check reads the document and compares the data. If anything is unclear, a trained reviewer looks at it by hand. You are then told the result by email and in your dashboard.

You can follow the status in the dashboard at any time, and your account manager can explain any step that seems confusing.

07Enhanced checks

Some situations call for a closer look, which is known as enhanced due diligence. Examples include larger deposits or withdrawals, activity that does not match the profile you gave us, links to higher-risk countries and a status such as a politically exposed person.

In these cases we may ask for extra documents, such as evidence of where your funds come from, or for a short call to clarify details. Enhanced checks are routine and do not mean you have done anything wrong.

08How long it takes

Many clients are verified within one business day once clear documents have been received. The time depends on the quality of the images, whether the details match, how busy the review team is and whether enhanced checks are needed. We do not promise a fixed time, because rushing a check is a security risk.

If we cannot complete verification, funds that you have deposited are returned to you by the same route, subject to any legal requirement to hold them. We never keep a client's money as a penalty for failing a check.

09Reasons for refusal or suspension

We may refuse or pause verification when a document is expired, unreadable or cropped, when the details do not match across documents, when we suspect a forgery, or when information we asked for is not provided. We may also act where verification cannot be completed because the law prevents us from doing business with a person or place.

Where we can, we tell you the reason and what to do next so you can try again with better documents.

10Transaction monitoring

We monitor deposits, withdrawals and account activity for unusual patterns, such as rapid movement of money in and out, payments from third parties or amounts that do not fit a client's profile. Each case is assessed according to risk.

If something looks suspicious, we may limit certain features, delay a withdrawal while we ask questions or, where required, report the activity to the authorities.

11Your responsibilities

You must give accurate, current and genuine information and documents, tell us promptly if your details change and use the account only for yourself. Giving false information, using someone else's documents or opening accounts for others can lead to closure of the account, withholding of funds as required by law and a report to the authorities.

12Data storage and protection

KYC and AML records are stored in encrypted form, with access limited to staff who need them for compliance work. Canadian rules generally require us to keep identification and transaction records for a minimum period after an account is closed, and we keep them for that period and no longer than needed.

How this information is processed is set out in the Privacy Policy, which applies together with this page.

13Sharing of data

Where it is applicable, we share KYC data only with identity-verification providers who help us run the checks, IT service providers who host our systems, affiliated companies that support our compliance work, and regulators or public authorities that are entitled to ask for it. Each recipient is bound by confidentiality and security obligations.

14Compliance with requirements

TradeX AI maintains its procedures in line with the Canadian requirements that apply to its activities, including the anti-money-laundering and anti-terrorist-financing framework overseen by FINTRAC and the securities rules of the provinces and territories where services are offered. See Licensing and regulation for the wider picture.

15Contact and support

For questions about identity checks, AML or what a particular request means, email [email protected] and mention KYC in the subject line. Your account manager can also help you upload documents correctly. If you are unhappy with how a check was handled, you can use the complaints procedure.