Identity checks, in the open

1. Introduction

Identity verification is a legal requirement for financial services in Canada, not a formality we invented. KYC procedures establish who you are; AML/ATF procedures establish that the money moving through the platform has a legitimate origin. Together they protect you as much as us, because a platform that skips them becomes a cheap target for people using other people's identities. We list here what is actually collected and checked, nothing more.

2. What KYC is

KYC is the identification of a client and confirmation that the details they gave are true and current. In practice it means collecting your legal name, date of birth, address and contact details, then checking them against identity documents and electronic sources. The outcome is a verified account that belongs to a known person, which is what allows withdrawals to be paid to you and not to an impostor. Details are refreshed when documents expire.

3. What AML/ATF is

AML/ATF is the framework of controls designed to prevent money laundering and the financing of terrorism. On this platform it has four working parts: risk assessment of new clients, verification before activity begins, monitoring of transactions for patterns that do not fit a client's profile, and record keeping plus reporting where the law requires it. Suspicious activity means activity inconsistent with what we know about you, not activity we dislike; an unusual pattern gets reviewed by a person, and most reviews end with a file note.

4. Why identity verification is required

Verification prevents fraud by making it harder to open accounts in someone else's name, protects existing clients because payout controls only work when the payee is established, satisfies the legal obligations that apply to financial services in Canada, and reduces financial risk for everyone. Practically: trading does not begin until verification completes, and withdrawals always go to verified channels.

5. Required documents

We collect two categories of documents. For identity: a government-issued photo document, in practice a Canadian passport, a driver's licence or a permanent resident card. For address: a document dated within the last three months showing your name and residential address, typically a utility bill, a bank statement or a tax assessment. For a small share of accounts we also run a liveness check, a short selfie video compared against your photo document by our verification provider, requested only when the document check alone cannot establish that you are the person in the document.

6. The verification process, step by step

The process runs in five steps. Registration: you submit your basic details through the form on this site. Document submission: your manager opens your verification file and you upload documents through a secure link. Automated checking: documents are validated for authenticity, expiry and data consistency. Manual review where needed: files the automated step cannot clear go to a trained reviewer. Confirmation: you are notified in writing, and if positive, trading can begin. Documents must be uncropped, unedited and readable; screenshots are not accepted.

7. Enhanced due diligence

Some accounts receive enhanced due diligence (EDD): higher expected volumes, clients resident outside Canada, files where documents originate from more than one jurisdiction, and profiles the risk assessment flags for attention. EDD means more questions and more patience, not suspicion of you personally. Additional requests can include the source of funds for larger deposits, such as a sale agreement or statements showing accumulation over time. Your manager explains what a satisfactory document looks like before you go looking for it.

8. Verification timelines

A straightforward file normally completes within one business day, often the same day during business hours. Files requiring manual review or EDD take longer, typically two to four business days, depending on how quickly follow-up questions are answered. Your manager tracks the file and gives you the realistic expectation, not the optimistic one.

9. Reasons for refusal or suspension

Verification can be declined or paused for concrete reasons, and you are told which one applies: documents expired, unreadable, cropped or edited; names or addresses that do not match the registration record; suspicion of forgery or a borrowed identity; failure to provide requested information within the stated time; and legal restrictions that prohibit the relationship outright. Most refusals are curable: an expired document is replaced, a mismatch is explained with a second document. Only fraud or a legal restriction bars reapplying.

10. Transaction monitoring

Deposits and withdrawals are monitored against your profile: amounts, frequency, methods and counterparties. Activity that fits who you are passes without friction; activity that does not fit triggers a human review rather than an automatic assumption. Where a review identifies genuinely suspicious activity, we are required by law to report to the relevant authority. Reviews can lead to temporary limitations, such as a withdrawal hold while source of funds is established; limitations lift as soon as the review concludes in your favour.

11. Your responsibility as a client

You are responsible for providing accurate, current and genuine information, and for updating your details when they change. Using the account in your own name, funding it from sources you control and answering verification questions honestly are conditions of the relationship, set out in the Terms of Use. Consequences scale with intent: an innocent mismatch delays your file until fixed; a forged document ends the relationship and may be reported to the authorities. Lending your verified account to a third party is treated the same way.

12. Storage and protection of verification data

KYC and AML records are stored encrypted, in a vault separate from the general account database, with access restricted to the compliance and verification roles that need it. Retention follows the periods required by the applicable Canadian framework, generally years after the relationship ends, followed by secure destruction. Handling of personal data beyond these obligations is described in the Privacy Policy.

13. Who receives verification data

Verification data is shared only with parties who need it: our identity-verification provider, which checks documents and runs the liveness comparison where required; IT providers hosting the encrypted storage under contract; licensed counterparties delivering the trading service; and regulators or public authorities where the law requires disclosure. None of these recipients may use your verification data for their own marketing, and our contracts say so in writing.

14. Compliance requirements we operate under

The platform operates within the Canadian framework applicable to its activity: client onboarding and complaint handling aligned with CIRO requirements, verification and monitoring obligations under the federal AML/ATF regime, and privacy handling under Canadian privacy law. Where provincial requirements add to the federal picture, the stricter rule applies. The program is reviewed on a defined schedule, and when a change affects what we ask of you, your manager explains it first.

15. Contact for KYC and AML questions

Questions about verification, documents or a review go to [email protected], marked for the Client Support and Compliance team, during support hours (Monday to Friday, 9:00–17:30 ET (excluding public holidays)). Questions about a complaint follow the route on the Complaints page, so they get the timelines that process guarantees.