Why do you need my identification and banking information?
First of all, we cannot accept any payments or send any payments back to you if you do not provide us with your banking details. Of course, you can only trade with Duxa Capital or any other online broker when you deposit funds in your account.
At the same time, you have to realize that the financial industry has some strict guidelines for online brokers to follow. There are certain pieces of information that you have to provide us for opening an account with us. Rest assured that this information is taken from you only for your safety. Some information is required under the AML legislation (anti-money laundering).
Once we have your banking and identification information, we can make our system secure by not letting anyone else sign up with your banking and personal information. Unsurprisingly, the online trading industry sees such identity frauds more often than not.
Here are some important pieces of information and documents that you have to provide us with in order to open your trading account successfully. The following information has to be provided by you for processing your withdrawals and deposits.
- A photocopy of your passport, driver’s license or ID card (please photocopy both sides of the documents when the need be)
- A copy or scanned copy of the credit/debit card you will use for transaction (show only the last and first four digits of the credit/debit card number and copy the back as well while hiding the CVV)
- A scanned copy of a gas or electricity or any other utility bill with your house number and name appearing on it
- Bank documents that prove that you are the owner of the credit or debit card information you have provided
It is highly recommended that you provide these details as soon as you sign up with us. However, you can always delay the process until you have to make a withdrawal from your account. At that point, it is impossible to withdraw any money if we do not have these details.
How will I give these details to you?
Some of the information has to be accurately entered in the web forms that you will have to fill while signing up with Duxa Capital. As for the documented proof, you will have to send us scanned copies. Use our email [email protected] , to send the scanned copies of the documents. Do make sure that all the necessary details, text, numbers, and symbols are clearly visible in the copies.
What about the safety of my documents?
At Duxa Capital, we adhere to the strictest guidelines governing the online financial industry. The documents you send us are in our protection with no access to the documents to any unauthorized parties. We also ensure that the digital copy of your information remains safe through 256-bit encryption.
Explanation of Why the Documents Are Needed
Bank Statement Proof
You have to provide us with a proof that the account information you have provided on our website coincides with the account information you have with the bank. We want to make sure that your name and address with us are the same as those appearing on your bank statement. This information is most important when you are making a wire transfer through your bank account.
Scanned Copies or Pictures of Debit/Credit Cards
Again, you have to provide us with a copy or picture of the debit or credit card you are using. We have to make sure that the information you have provided on our website is of a card that you possess. If the card is in your possession, you should not have any issues in taking pictures of the card and uploading them on the website or sending their pictures to us through email.
You have to keep in mind that people steal other people’s credit card information through hacking and then use them to sign up with online services. They have your credit card number, its expiration, and sometimes even the CVV number with them. The only thing they don’t have is the physical card. The physical card still belongs to you.
With that in mind, we require you to upload a picture of your credit card to make sure that the card whose information you have provided on the website is in your possession. This removes any doubts from the process that someone else is using your credit card information that they might have bought online as a dump.
Scanned Copies or Pictures of Your Utility Bills
By receiving the copies of the utility bills, we want to make sure that the address you have provided on the website is also accurate and correct. More importantly, we have to be sure that the address is really yours. You cannot overlook the fact that a lot of people know your address such as your friends, relatives, online friends, etc. Someone can use your address as a mockup while signing up online.
While they have your physical address, they surely will not have access to the utility bills of your home. By asking you to send us the pictures of your home, we ensure that you are the person living on the address that has been provided to us. These billing proofs can also be a perfect way to confirm the accuracy of the physical address you have provided.
You will have to submit the information of your personal identification number. It could be your passport, driver’s license number or any other proof of ID from the government that’s application to your country. In addition to the information, we also need you to deposit the pictures of these documents.
Once again, we need the pictures to ensure that you are the one who has these documents in your ownership in the physical form. Data breaches are not uncommon these days and someone might just be using your information stolen from some company’s database. With a proof in the form of a picture, we clear our doubts of the presence of a fraudulent party within the process.
At the end of the day, taking a little hassle of providing these documents and their copies will save you from detrimental identity thefts and the stealing of bank information.