In accordance with strict financial rules and regulations, International Capital Markets Pty Ltd (IC Markets) collects and verifies the personal identification data of all our account holders. IC Markets logs and tracks all the transactions that are carried out by our clients.
In order to open a trading account you must provide at least 100 points of ID. The ID you provide must comprise of a primary form of Photo ID which includes a valid government issued document showing your full name and date of birth and a secondary form of ID showing your name, residential address and provision of services such as money owed or paid.
Account Opening Document Requirements
In accordance with the Australian Anti-Money Laundering and Counter Terrorism Financing Act 2006 we are required to verify your identity prior to opening a trading account.
We are required to collect a minimum of 100 points of ID. Each form of primary ID accounts for 70 points with each form of secondary ID accounting for 30 points. The total must be equal to or greater than 100 points.
Photo ID (primary) = 70 points per document
The following are acceptable forms of photo identification:
A valid Passport
A valid Government ID, such as a Driver’s License or State ID
A valid National Identity Card
Photo ID must show full name and date of birth. If your Photo ID is Certified or Notarized add 30 points (100 points in total).
Proof of Residence (secondary) = 30 points per document
The following are acceptable forms of proof of residence:
A Utility Bill (phone, gas, electricity)
Bank or Credit Card Statement
Government Issued Tax Document
Certificate of Citizenship
All proof of residences must be current and not outdated by more than 90 days, show the full document, clearly display the name and address (no PO Boxes) and show a provision of services such as money owed or paid.
Total = 100 points
Funds Withdrawal Procedures
The withdrawal process at IC Markets detailed below is structured around strict guidelines to make sure that funds are securely sent back to their originating source and beneficiary.
- IC Markets customers must complete a withdrawal request containing their correct account information.
- All withdrawal forms are submitted to IC Markets accounts department for processing. Our Accounts department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request, pending compliance approval.
- IC Markets Accounts department reviews all withdrawal requests, verifying the original funds are withdrawn via the same method of deposit and to the account holder on file. Our accounts department examines the withdrawal request against the customer’s deposit history to make sure there is no suspicious activity, and verifies the bank account on file.
- Withdrawal requests approved are processed by the accounts department and the funds are released to the client.
- In the event that a withdrawal is flagged for suspicious activity, the withdrawal is placed on hold, pending further investigation by IC Markets management staff.
- IC Markets management will work with our Compliance department to see if further action needed and if any relevant regulatory bodies need to be contacted.
Account Opening Procedures
Prior to opening an account, IC Markets shall document the identity, nature of business, income, source of assets if applicable, and investment objectives of each prospective customer.
While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit IC Markets from opening accounts originated from the following restricted and/or OFAC sanctioned countries:
OFAC Sanctioned Countries
|Afghanistan||Guinea Conakry||Sierra Leone
|Cote d'Ivoire (Ivory Coast)||Liberia||Zimbabwe
|Democratic Republic of Congo||Mali||Bolivia
|Former Liberian Regime of Charles Taylor||Niger||Angola
|Gambia||Nigeria||Antigua and Barbuda