KYC (Know-Your-Customer) Policy

Customer Due Diligence

PrimeXBT is a reputable business and online trading platform, operating in accordance with the highest standards of the financial industry and aims to provide traders with the best possible conditions and trading opportunities. We respect your privacy while trading, which is why all PrimeXBT related operations and infrastructure are built with top priority being given to personal data protection.

With this in mind, it is crucial to note that all Clients must abide by PrimeXBT Terms of Service and should always exercise due diligence in following local laws and regulations when using PrimeXBT services.

We reserve the right at any time to conduct a verification of a client’s identity or source of funds, known as Customer Due Diligence (CDD), to ensure that PrimeXBT services are not abused and the user does not violate AML requirements. PrimeXBT implements industry-standard financial monitoring procedures as a part of our KYC/AML policies to identify activities that might require additional CDD review.

A CDD procedure may be incurred if there is reason to believe that the nature of the use of the platform’s services does not correlate with its main purpose – margin and short-term contact trading – as stated in our Terms of Service or is otherwise suspected of violating the T&С.

If a CDD procedure is initiated for an account, PrimeXBT may request a user to produce some or all of the following documentation:

  • Proof of Identity

  • Proof of Address

  • Proof of Source of funds

PrimeXBT may impose trading or deposit and withdrawal limits on an account until the requested documents are provided and the CDD is completed.

Once CDD has been successfully completed, any trading limits and withdrawal restrictions imposed will be lifted.

Client Data Protection

As a reputable business, PrimeXBT takes its role as a member of the global financial market seriously and cooperates with all respective authorities in order to prevent ML/TF (Money Laundering and Terrorist Financing).

In case of a request from authorities involving transactions suspected of illicit activities, PrimeXBT must work closely with law enforcement representatives to supply the necessary documentation and information in line with data protection laws. Customer data may be provided to proper legal or regulatory authorities and only for cases that qualify as exemptions from personal data protection as set out in GDPR, DPA 2018, or other relevant regulations in respective jurisdictions.

Otherwise, all customer personal data and transaction details are kept private at all times.