What information should I include when emailing or faxing documents?
Please ensure your name and email address are clearly visible when sending documents to FXCM. If you have received a temporary ID or account number you may indicate that as well.
Why do you need this identification information?
These steps are taken to ensure the validity of the information on the application and to protect customers from potential fraud. FXCM utilizes various identification and verification systems to confirm the identities of our clients. Sometimes, if an identity cannot be confirmed, we ask for additional information to help us do so.
My documents are not in English. Will this be a problem?
FXCM has staff available to translate documents in many languages. In the instance an in-house translator is not available, you may be asked to provide a certified English translation of submitted documentation.
What information needs to be on the government issued photo ID?
The government issued photo ID must show:
Your full name as indicated on your account application
Your date of birth
It cannot be expired
What can I use for government issued photo ID?
Acceptable government issued photo IDs include, but are not limited to: national ID cards and passports. Please note that a South African Driver’s License is not an acceptable type of ID. Other types of government issued photo ID may be acceptable after review on a case by case basis.
What information needs to be on a proof of residence?
The proof of residence must show your name and home address as indicated on the trading agreement. The document must be dated within the last six months.
What types of documents can be used for proof of residence?
Acceptable forms of proof of residence include but are not limited to: utility bills, bank statements, and current lease agreements. These documents must be received in their entirety as we cannot accept payment stubs or folded documents. Confidential information such as account number(s) may be removed at your discretion. Please note that a mobile phone bill is not an acceptable form of proof of residence.
Can I use my office address instead of my home?
Proof of residence is used to verify the residential address as indicated on the trading agreement. Please provide your residential address.
I lease my home and all bills are in the landlord's name. Is this okay?
We will need a document that indicates your name and the address indicated on your trading agreement. Common solutions are a bank statement or a signed copy of the lease agreement indicating the term of the lease.
I do not receive any mail at my home address. Can I provide a document showing my P.O. Box?
We cannot accept any proof of residence that only provides a P.O. Box. A common solution is to submit a document, such as a utility bill, that shows the service address along with the mailing address.
My application is for a joint account. Do you need documentation for both account holders?
In most cases, both account holders will each need to submit two forms of government issued Identification and a Proof of Residence for each holder that refers the address listed on your application and is dated within the last 6 months. If additional documents are required, you will be contacted via email.
My application is for a corporate account. Whose name and address should be on the proof of residence?
The proof of residence submitted for a corporate account should indicate the name and personal residential address of the individual applicant or signatory rather than the name of the corporation. Additionally, FXCM must collect ID and proof of residence for all parties owning 25% or more of the applying entity.
A Certificate of Incorporation (also known as Articles of Association) is a document usually filed with local government or other regulatory agency as evidence of business registration. This or other similar authenticating documents must accompany corporate applications.
What are Articles of Organisation?
Articles of Organisation state the purpose for which the company was formed, indicate the members of the company, and permissibility of company funds to be used in investments or other similar authenticating documents must accompany this application. This document should also include a breakdown of the shares of the company. If any shareholder owns more than 25% of the company, FXCM will require an ID and proof of residence from that individual.
How much of my Trust Agreement do you need?
Opening a Trust account requires the submission of a copy of the Trust Agreement, Trust Authorisation From, and an up-to-date extract from the Trust Deed. The extract of the Trust Deed must verify the following information:
Full name of the Trust
Nature or purpose of the Trust
Full name of each trustee
Full name of each beneficiary
Full name of any individual with control over the Trust
Executed signature page
To open an account in the name of a trust, the terms of the trust must not prohibit or conflict with the terms of the Client Agreement or Trustee's resolution.
What is a Partnership Agreement?
A Partnership Agreement is a document usually filed with local government or other regulatory agency as evidence of partnership registration. The document states the purpose for the partnership, indicates involved parties, and details permissibility of partnership funds to be used in investments. If the general partner is a corporation or LLC, the corporation or LLC must submit the complete corporate documentation.
How can I provide the breakdown of shares/Share Registry?
The corporate breakdown of shares or Share Registry should be within the official Articles of Organisation. If the details are not within the corporate documentation, please contact FXCM at your earliest convenience.
FXCM does not establish account relationships with entities that issue "Bearer Instruments." Bearer instruments are wholly owned by the person who physically holds the bearer document and the issuing firm neither registers the owner of the stock, nor tracks transfers in ownership. Please ensure that your corporate documents indicate that your entity is allowed to only issue "Registered forms of ownership."
How can I provide clarification of nature of business?
How can I provide clarification of source of income?
The best way to send the information is through MyFXCM Upload Documentation. In MyFXCM Upload Documentation, select “Source of wealth and Source of funds” as the document type. This is the most secure method and will ensure the request gets to the right team for review in a timely manner.
FXCM appreciates how sensitive this information is. Feel free to mask details that are non-essential to this request. For example, any transactions not related to the source of wealth and source of funds can be masked.
Here are some documents that would verify the ongoing source of the funds and the ongoing source of wealth you use to trade your account at FXCM.
Good, acceptable examples:
Paystubs from a part time or full time job for the previous three months showing the client’s name, employer, and date(s);
Recent bank statement showing three months of income (with the name of the sender visible);
Quarterly investment portfolio statement for the most recent quarter;
Receipt or statement of a sale or transfer of real estate;
Tax return; or
Financial statements for a corporate account.
Bank statement or paystubs without identifying information (i.e. does not include client’s name/company name);
Bank statement over 6 months old; and
Statements that do not show the origin of funds (e.g. the customer has cash deposits, not direct/check deposit, therefore FXCM will still not be able to verify the funds’ origin).
I have declared bankruptcy in the past. What do you need for proof of bankruptcy discharge?
We will need a court-issued letter indicating you were discharged from bankruptcy.
Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.