How we handle your data, your money and your identity
Privacy, refunds, identity verification and anti-money-laundering controls. For the trading risk disclosure itself, see Risk Warning.
This policy statement aims to inform you (the Client) about our (APX Capital) Privacy Policy. For a better understanding of how we conduct business with you, please also refer to our Terms & Business manual as well.
By opening an account on APX Prime, you understand that you will be providing us with personal information that we will use to open, administer and maintain your account with us.
We undertake not to sell or pass on your personal information to any third parties except to those that we need to in relation to the normal operation of our business. These include credit card processing and verification centers, law enforcement agencies, any financial or other regulators, our auditors and your compliance officer (if you are, or your firm is, FCA regulated), and introducing brokers that we may have a business agreement with.
We may provide personal details to other margin trading firms who are seeking a reference; however, this would not include details of any open positions.
We obtain most of the information about our clients directly from them, but we reserve the right to obtain information from other sources such as credit reference agencies, the Electoral Register, or fraud prevention agencies.
We may use the information we have to help us provide a better service or new products to you and our other clients via direct or indirect marketing.
All staff at APX Capital are fully trained in the confidentiality of handling personal information.
All personal information held by us is done so in secure computer-based storage facilities wherever possible. Otherwise, we hold the information in secure paper-based files. No unauthorized persons are able to gain access to these storage facilities.
The APX Capital website uses Social Plugins which may be notified of the fact that your browser is viewing our website and this information may also include your IP address. This is an automated process. If you do not want this information shared, then you should ensure you are logged out of your social media accounts prior to viewing our website.
Our website may install cookies on your computer so that we can better serve your requirements by knowing what areas of our website you have been looking at and speeding your navigation. You have the option of turning this function off via your browser settings if you wish, although this may affect your ability to view some parts of the website accurately.
While we make every effort to ensure all information that we hold is correct and up-to date, it is your responsibility to notify us with any changes in your personal information.
Users who wish to no longer receive our newsletter or promotional e-mails may click the 'Unsubscribe' link any time at the bottom of the text which is embedded with every e-mail sent by APX Capital in order to not receive any new messages.
If a money transfer you ordered is delayed or fails, you may have a right to receive a refund or compensation under Money Transfer Regulations.
We fully honor your rights and will act responsibly and attentively to resolve any claims. Claims for refund or compensation must be supported by all available evidence.
In a case of a cancellation or refund of a returned payment the following procedures will apply: the sender must request a refund in writing stating the reason and customer number, signed by the sender and including a colored copy of his/her passport or driving license. All written refund requests will be reviewed under the discretion of APX Prime LLC. For all processed transfers, the sender shall only obtain the foremost amount minus the refund administration fee.
An administration fee of £25 will be charged for all refunds. The refund charge may differ due to bank charges or exchange rate changes that may have been incurred by APX Prime Ltd at the time period of a refund.
It will take approximately 3 working days to affect a refund. Refunded money will be transferred only to the sender's bank account.
Any changes in or modifications to the details will incur a charge of £10. Any complaints regarding a transaction should be reported within 14 working days.
The foregoing shall be without prejudice to your statutory rights.
Due to national and international regulations on the prevention of criminal activities and money laundering, and terrorism financing, APX Capital strictly implements KYC guideline and procedure. While we respect and honor the confidentiality of our clients, corporate and individuals, we are committed to undertaking thorough due diligence of both our clients' identities and the nature of their businesses. KYC policy of APX Capital is based on principles of partnership: if we know and understand our customers, they know and understand us.
It is our obligation not just to undertake a full and proper due diligence of our clients' and their current needs, but also to monitor and ensure that their business activities do not breach any national and international regulations with regards to money laundering and terrorism financing. Individual clients are invited to provide:
A high-resolution copy of the photo page of passport and other relevant pages, indicating full name, nationality, place and date of birth, issue and expiry dates, passport number, country of issue and signature — or a copy of national identity card/driver's license including the same information.
Utility bill (e.g. electricity, telephone, etc.) or bank statement dated within the last three months, showing registered name, permanent residential and mailing address.
A high-resolution copy of the credit card's front and reverse side in case the client has used it to deposit funds — six digits of the card number and the CVC2/CVV2 code must be covered.
Corporate clients are invited to provide:
High-resolution copy of the Certificate of Incorporation.
High-resolution copy of the company's Memorandum and Articles of Association.
Certificate of Incumbency (no older than 6 months), detailing names of directors and shareholders.
Document detailing the address of the company's registered office.
Passport copies of the company's directors and shareholders.
Addresses of all directors.
All documents must be provided to APX Capital by uploading them at the Secured Client Area or sending them by email. To ensure the KYC information APX Capital holds on its customers is always accurate and up to date, APX Capital shall, at its sole discretion, determine the periodicity at which individual customers are obliged to provide their KYC information anew to continue using APX Capital services.
APX Capital is entitled, at its sole discretion and grounded upon this policy, at any time during the service provision to its clients, to demand they present documents to reinstate account functionality or justify any other action performed or about to be performed by the client. Such requests will be made via email.
Simultaneously, APX Capital reserves the exclusive right to unilaterally decline any client's application and/or terminate further provision of services without any statements or explanations to the client.
Objective
The objectives of this policy are to:
Ensure that the products and services of APX Capital are not used to launder the proceeds of crime and that all employees of APX Capital are aware of their obligations and the need to remain vigilant in the fight against money laundering/terrorist financing.
Provide a consistent approach across the firm to the deterrence and detection of those suspected of laundering the proceeds of crime or those involved in the funding or execution of terrorism, and the disclosure to the relevant authorities.
Explain clearly the responsibility of the Board of Directors, the Senior Management team, the Money Laundering Reporting Officer (MLRO) and other key colleagues.
Establish requirements for effective implementation and monitoring of compliance with this policy.
Definitions
Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source through a series of transactions, so that they appear to be the proceeds from legal activities.
Terrorism financing refers to the use of funds, or the making available of funds, for the purposes of terrorism; or the acquisition, possession, concealment, conversion, or transfer of funds (directly or indirectly) that will in turn be used or made available for such purposes. A terrorist group, like any other criminal organization, builds and maintains an infrastructure to develop sources of funds and channel them to those who provide materials and/or services to the terrorist organization.
Policy statement
The AML Policy and Procedures adopted by APX Capital are established in compliance with the AML Regulations 2008. The firm aims to prevent and take measures to guard against being used as a medium for money laundering and terrorism financing activities and any other activity that facilitates money laundering or the funding of terrorist or criminal activities. The AML/CTF Policy sets out the following minimum standards, which must be complied with by the firm:
The firm will establish and maintain risk-based customer due diligence, identification, verification and know-your-customer (KYC) procedures, including enhanced due diligence for customers presenting higher risk, such as Politically Exposed Persons (PEPs).
A Risk Based Approach (RBA) towards assessing and managing money laundering and terrorist financing risks will be established and maintained.
Risk-based systems and procedures will be established to monitor ongoing customer activity.
All staff and any individual/corporation engaged under a contract of service by the firm shall fully comply with both the letter and the spirit of regulatory requirements and act to the highest standard of market conduct.
The firm will appoint a Money Laundering Reporting Officer (MLRO) with responsibility for the oversight of the firm's compliance with relevant legislation, regulations, and rules.
The firm will implement effective communication of all policies and procedures to raise awareness among all employees on AML/CTF issues.
The firm will retain appropriate records of customer transactions for a period of at least five years, as required under AMLR 2008.
The firm will not continue established relationships with customers whose conduct gives rise to suspicion of, or involvement with, illegal activities.
The firm will fully cooperate with law enforcement and regulatory authorities as required.
Risk assessment
An entity shall carry out money laundering and terrorist financing risk assessments in relation to each customer, business relationship or one-off transaction, proportionate to the nature, size and complexity of the business, the type of products and services offered, customers' characteristics and geographical diversity, the conditions of the proposed transactions, and the distribution channels used.
Customer Due Diligence (CDD)
The firm identifies its customers and their beneficial owners and verifies their identities via independent and reliable resources; understands and documents the ownership and control structures of customers and UBOs; and obtains information on the source of wealth and funds, the size and volume of business, and the expected nature and level of transactions.
Ongoing monitoring
Under AMLR (2008) Regulation 19, the firm conducts ongoing monitoring of business relationships with clients on a risk-sensitive and appropriate basis, maintaining scrutiny of transactions to ensure they are consistent with what we know of the client and the client's business and resources. Whenever ongoing monitoring gives rise to any suspicions of money laundering, staff must promptly report them to the MLRO.
Training
Consistent with the training obligations defined in the AMLR (2008), the firm provides adequate, periodic training to all key staff, designed to test employee knowledge and understanding of the laws, policies, procedures and internal controls relating to AML/CTF. Records of all training activity, including completion and pass rates where applicable, are retained for a period of 5 years.