Anti-Money Laundering Policy

Individual 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 usually verify your identity with some photo ID and proof of address document/s.

A valid Photo ID:

  • Passport
  • Government ID, such as a Driver's License or State ID
  • National Identity Card

Photo ID must show full name, date of birth, an identification number and must not be expired.

A valid Proof of Address:

The following are acceptable forms of proof of residence:

  • A Utility Bill (phone, gas, electricity)
  • Bank or Credit Card Statement (photo/scan of a physical letter or PDF of statement)
  • Government-Issued Tax Document

All proof of residences must be current and not outdated by more than 90 days, show the full document, clearly display the name and address (no PO Boxes), and show a provision of services such as money owed or paid.

  • If you don’t have any of those, contact us so that we can chat to you further. We may accept other documents, such as:
  • Birth Certificate
  • Certificate of Citizenship

We must be able to understand the language shown on your Photo ID and Proof of Residence. We may require documents provided in languages other than English to be accompanied by an English translation.

Contact Us

We are here 24hrs a day Monday to Sunday.

Funds Withdrawal Procedures

The AML policy and procedure 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 requests 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  • IC Markets Accounts department reviews all withdrawal requests, verifying the original funds are withdrawn via the same method of deposit and to the account holder on file.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.
  • Approved withdrawal requests will be processed and funds released to the client.
  • In the event that a withdrawal is flagged as suspicious, the withdrawal is placed on hold and escalated internally for further investigation.
  • The outcome of the investigation may require IC Markets to involve external authorities.

AML Policy Details

The AML policy and procedure 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 monitors funding from various bank accounts outside of the account holder's home country.
  • IC Markets performs its actions on the basis of the anti-money laundering framework set forth by the Financial Action Task Force.
  • IC Markets neither accepts cash deposits nor disburses cash under any circumstances.
  • IC Markets does not accept third-party deposits of any kind.
  • IC Markets matches each deposit to the account name on file for that customer.
  • IC Markets reserves the right to refuse processing a transaction at any stage where it believes the transaction to be connected in any way to money laundering or criminal activity. In accordance with international law, IC Markets is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.

Account Opening Procedures

Prior to opening an account, IC Markets shall document the identity, nature of business, income, source of funds and wealth if applicable, and investment objectives of each prospective customer.

Sanctioned Countries

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: