Purpose of This Policy
The security of our clients is a core priority for GLStock, and we treat our duty to safeguard our clients' interests with the utmost seriousness.
GLStock has implemented a structured set of Know Your Client ("KYC") procedures designed to protect the personal information of our clients while keeping GLStock aligned with compliance best practices and with the regulatory expectations that apply to financial services firms. These procedures are intended to detect and prevent identity theft, money laundering, fraud, the financing of terrorism and any other form of financial crime.
This policy applies to every client, prospective client and account holder, and forms part of the contractual relationship established by our Terms of Service Agreement. It should be read together with our Anti-Money Laundering policy and our Privacy Policy.
Zero Tolerance Principle
We operate on a strict zero tolerance basis. Any fraudulent activity will be documented and will result in the immediate closure of every trading account connected to that activity. Funds held in any such account may be frozen and forfeited, and the matter may be reported to the competent authorities where we are required or permitted to do so.
Why Verification Is Required
Our verification procedures ensure that your personal data and your financial transactions remain secure and that no third party is able to operate an account in your name. Until our KYC procedures have been completed in full:
- your trading activity will be restricted;
- you will not be able to withdraw funds from your account;
- deposits may be returned to their source; and
- your account may be suspended until the outstanding documents are received.
Documents Required to Open and Fund an Account
1. Proof of Identity
A colour photograph or scan of one of the following:
- Passport
- National identity card
The proof of identity document must clearly show:
- Full name
- Date of birth
- Date of issue and date of expiry
- A clear photograph of the holder
The document must remain valid for at least six months from the date on which it is submitted.
2. Second Identity Document
A colour photograph or scan of one of the following:
- Driving licence
- Insurance identification document
- Certificate of birth, marriage or divorce
- Diploma
- Military identification document
3. Proof of Address
A colour photograph of a document confirming your residential address, issued no more than 90 days before the date of submission. The document must show your full residential address, your first and last names, the date of issue and an official stamp or barcode. Acceptable documents include:
- Utility bill
- Bank statement
- Cheque
- Certificate of residency
- Penalty notice
- Legal agreement
4. Proof of Payment Instrument
Colour photographs of both sides of every signed card used to fund your account.
For your own security, please cover the CVV code and the seventh to twelfth digits of the card number, leaving the first six and the last four digits visible on both sides. The cardholder's name and the expiry date must remain visible.
How to Submit Your Documents
Please send the required documents in PDF, JPEG, JPG or PNG format to our compliance department at [email protected].
Documents should be submitted as soon as possible after your trading account has been activated. Please note that incomplete compliance documentation may result in limitations being applied to your trading account, and that withdrawal requests will not be processed while any required document is outstanding.
Additional Verification and Ongoing Monitoring
GLStock may, at any point in the relationship, request further information or documentation, including evidence of the source of funds or source of wealth, in order to satisfy its regulatory obligations. We apply ongoing monitoring to client accounts and may repeat or update verification checks where the information we hold becomes outdated, where account activity is inconsistent with the profile provided, or where an applicable law or regulation requires us to do so.
Retention, Data Protection and Refusal
All documents and information collected under this policy are processed in accordance with our Privacy Policy and applicable data protection legislation, are stored securely, and are retained for the period required by the applicable anti-money laundering rules. GLStock reserves the right to refuse to open an account, to decline a transaction, or to terminate an existing relationship where verification cannot be completed to its satisfaction, and is not obliged to disclose the reasons for such a decision where disclosure would itself be unlawful.
Contact
Questions regarding this policy or the status of your verification may be addressed to our compliance department at [email protected].