FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading and related services. We are committed to building a better brokerage for our traders, our goal is to provide you with the ultimate trading experience.
This commitment includes an appropriate response to safeguard our firm and our customers from the rise of financial crime and ever-changing regulations to keep the financial industry safe and secure.
We may ask from our customers, both new and existing, to confirm the financial information we have for you is accurate and up-to-date. In addition, providing an explanation and supporting documents in order to verify the information.
What financial information is requested?
In order to activate your new FXCM trading account, your financial information is requested. This includes your Total Liquid Assets, Annual Income, and Net Worth.
How can I view and/or update the financial information?
You may verify the financial information you provided to FXCM is accurate and current by selecting “Profile” located under ‘My Info’ section via MyFXCM.
If you need to update your financial information please note that this is denominated in different currencies depending on which FXCM entity your trading account is opened under.
Forex Capital Markets Limited (“FXCM LTD”) – GBP (₤)
FXCM Australia Pty. Limited (“FXCM AU”) – AUD ($)
FXCM Markets Limited (“FXCM Markets”) – USD ($)
FXCM Bullion Limited (“FXCM Bullion”) – USD ($)
What is Source of Funds?
Source of Funds is the origination of the funds that you will use for trading with FXCM. Where did the funds come from or how was it derived?
Common examples including but not limited to income earned from employment, savings income, investment income, real estate transactions, rental income and/or inheritance.
For example, if your fund source is mainly via your salary, please provide your bank statement that shows the salary record for the past 3 months. Another example such as if the fund source is mainly from your other investments, please provide a 3 month investment portfolio statement.
What supporting documents may I send for Source of Funds?
You may provide any document that properly validates your explanation of the Source of Funds. For example, bank statement for the past 3 months (must show your source of income) [Note that the document must include the bank name, account holder name and must be for a 3 month period].
(If your company or shop income is your main source of funds, please indicate this and provide the full name of the company in the email)
Other common supporting documents include but not limited to:
Investment portfolio statement for the past 3 months (if fund source is mainly from your other investments, such as securities, futures and etc.);
Proof of real estate transaction;
Proof of house rental (with rental amount);
Employer pay statement;
Tax statement.
Where funds in your supporting documents (e.g. bank statements) originate from a third party, we may ask further clarification and explanation.
The supporting document:
Must be issued in the past 6 months;
Should contain your full name and issue date. The issuing company’s or authority’s name and logo should be visible;
Should be submitted in a *.jpg, *.jpeg, *.bmp, *.gif, *.png or *.pdf file format. Supporting documents provided in Microsoft Excel, Microsoft Word or other editable formats are not acceptable.
The content of the document must be clearly visible.
What is Source of Wealth?
Source of Wealth is the origin of your accumulated wealth or total net worth. In other words, what makes up your collective wealth?
For example, savings accumulated from employment, investment portfolio, real estate transactions, personal business and/or inheritance.
What supporting documents may I send for Source of Wealth?
Acceptable documentation to support the source of wealth may be supported by one or multiple documents to verify and validate your explanation of the Source of Wealth.
For example, if you have declared your net worth as 50,000- 99,999 (valued in USD, or AUD, or GBP), please supply more details about the main origin of this amount.
This includes but not limited to:
Bank statements for the past 3 months (showing your personal saving and match your declared net assets);
Investment portfolio statement for the past 3 months (if fund source is mainly from your other investments, such as securities, futures and etc.);
Proof of real estate transaction;
Legal/Court Inheritance documents.
The supporting document:
Must be issued in the past 6 months;
Should contain your full name and issue date. The issuing company’s or authority’s name and logo should be visible;
Should be submitted in a *.jpg, *.jpeg, *.bmp, *.gif, *.png or *.pdf file format. Supporting documents provided in Microsoft Excel, Microsoft Word or other editable formats are not acceptable.
The content of the document must be clearly visible.
How do I submit my supporting documents?
You can upload the relevant documentation via MyFXCM by selecting “Upload Documentation” located under the ‘My Info’ section. Then, please select the “Source of wealth and Source of funds” document type.
How do I provide the explanation for my Source of Funds and Source of Wealth?
When uploading your supporting documentation via MyFXCM, please provide your explanation associated with your Source of Fund or Source of Wealth in the text box at the bottom of the “Upload Documentation” page.
Please note that in some cases, we may need to request additional information and/or supporting documents to validate the documents you have supplied. We will contact you if we require further information.
