•To discover and prevent money laundering and financing of terrorism.
•To maintain and amplify WOHLSTAND MARKETS LIMITED international reputation by accepting, where appropriate, recommendations issued by the Financial Action Task Force.
•To build more confidence in the financial system among the public.
To open an account with WOHLSTAND MARKETS LIMITED you accept to agree to the following terms:
a) you warrant that you comply with all applicable anti-money laundering laws and regulations, including but not limited to the AML/CTF Laws and associated rules and regulations (in force from time to time).
b) you are not aware and have no reason to suspect that
As per the AML Policy WOHLSTAND MARKETS LIMITED will perform initial and ongoing due diligence for each client according to risk level provided by the client.
What this means for you:In compliance with the AML/CFT legislation and WOHLSTAND MARKETS LIMITED AML Policy, WOHLSTAND MARKETS LIMITED will ask for certain minimum identification information from each client who opens an account, record client identification information and the verification methods and results, provide notice to clients that we will seek identification information and compare client identification information with government-provided lists of suspected terrorists.
This minimum information may include:
For an Individual Client:
a) Full name of the client, date of birth, current permanent address , nationality,
b) If the person is not the client, the person's relationship to the client,
c) The origin of the funds to be used for trading,
d) Occupation and name of employer (if self-employed, the nature of the self-employment).
For Corporate Clients:
a) Full legal name, identifier or registration number, current permanent address and/or registered office,
b) Full list of shareholders and beneficiaries, their names, registration numbers, addresses,
c) List of beneficial owners and their details as requested by WOHLSTAND MARKETS LIMITED for natural persons,
d) The origin of the funds to be used for trading,
e) Purpose of opening accounts.
In order to verify the above mentioned information WOHLSTAND MARKETS LIMITED will require submitting the following documents:
A. For an Individuals Clients:
a) Current valid passport.
b) National identity card.
c) Driving license which carries a photograph.
d) Document confirming current permanent address (such as utility bills, bank statements, etc.).
B. For Corporate Clients:
a) Certificate of Incorporation or any national equivalent.
b) Memorandum and Articles of Association and statutory statement or any national equivalent.
c) Certificate of good standing or other proof of registered address of the company.
d) Resolution of the board of directors to open an account and confer authority on those who will operate it;
e) Copies of power of attorney or other authorities given by the directors in relation to the company.
f) Proof of identity of directors in case he/she will deal with WOHLSTAND MARKETS LIMITED on behalf of the Client (according to the Individual identity verification rules described above).
g)Proof of identity of the beneficial owner(s) and/or the person(s) on whose instructions the signatories on the account are empowered to act (according to the Individual identity verification rules described above).
To verify the above mentioned information, WOHLSTAND MARKETS LIMITED will require a minimum of submitting the documents specified above for corporate clients. WOHLSTAND MARKETS LIMITED may also request you to provide additional information accompanied with respective documents.
WOHLSTAND MARKETS LIMITED may at its sole discretion perform periodic clients due diligence and request them to update the information and documents needed by WOHLSTAND MARKETS LIMITED to comply with applicable AML/CTF regulations and internal AML Policy. WOHLSTAND MARKETS LIMITED may monitor the trading activity in Accounts to investigate or identify potential money laundering.
We expect that you provide us with the information and documents requested within 20 business days from the moment of respective request receipt. Once you provided us with all information and documents requested WOHLSTAND MARKETS LIMITED will perform KYC and CDD procedures within 20 business days and approve (verify) your account. If you failed to comply with the KYC CDD obligations WOHLSTAND MARKETS LIMITED may reject opening of an account for you or limit an access to your account.
Trading foreign currencies can be a challenging and a highly profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment goals, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to risk.
There is considerable exposure to risk you take in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for change in political scenarios and/or economic conditions that may substantially affect the price or liquidity of a currency. Investments in foreign exchange speculation may also be susceptible to sharp rises and falls as there are possibilities that the relevant market values fluctuate rapidly. The leveraged nature of Forex trading instruments is as such that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well. Not only may investors get back less than they invested, but in the case of higher risk strategies, investors may be bound to lose the investment entirety. It is for this reason that when speculating in such markets it is advisable to use only the capital on which you are capable of taking a risk.
WOHLSTAND MARKETS LTD does not offer its trading services to residents of certain countries/ jurisdictions such as Afghanistan, Bosnia & Herzegovina, Burundi, Eritrea, Gaza Strip, Haiti, Iran, Japan, Lao, Libya, Myanmar, North Korea, Somalia, South Sudan, Sudan, Syria, USA, Venezuela, West Bank and Yemen.
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