AML Policy


1.1. MFIbroker Ltd provides online trading services via its brand MFIbroker Ltd and its European billing agent and mfibroker website.

1.2. This Agreement covers all relationships between the Company and its clients who have registered on MFIbroker Ltd. The Company provides its services only to persons who are of legal age.

1.3. The Company has the right to change or amend the Agreement at its sole discretion from time to time. All changes will be effective immediately, once updated and published on the website. If the Client continues to use the services of the Company after this term, then by default this means the Client has given consent to the changes that have been made. For the avoidance of doubt, it is advised that the Client regularly checks this Agreement for any changes and monitors news on MFIbroker Ltd.

AML Implemented Procedures

MFIbroker Ltd implements a strict anti-money laundering policy which enables us to identify suspected clients and ensure we maintain high standards in order to minimize procedural complications for those clients who are legitimate. We have developed an advanced electronic system to help us in fulfilling our commitment to assist governments in combating illegal financial transactions, which verifies client identification completely and maintains detailed records of all previous financial transactions.

Furthermore, we ensure that we track all suspicious activities and report them to law enforcement bodies at once and in full detail. For this reason, full legal protection is given to clients who share confidential data with MFIbroker Ltd. As a key measure in discouraging money laundering and other related illegal activities, MFIbroker Ltd does not deal in physical cash transactions, whether they be for deposits or withdrawals of funds. MFIbroker Ltd reserves the right to suspend any and all transactions which are found to be suspicious of illegal money conversions. If a client’s account is found to be suspicious and undergoes a check, MFIbroker Ltd is not allowed to make the client aware of it.

Compliance Regime

As with all credible financial institutions, MFIbroker Ltd has set up a comprehensive compliance system to assist in fulfilling legal requirements.

This system encompasses the appointment of a compliance officer, the creation of policies and frequent review of their implementation and effects, and professional compliance training to staff members. In addition, MFIbroker Ltd regularly updates its electronic systems to satisfy the most modern regulations as developed for the most advanced and sophisticated checks to trace money laundering/financial crime. Another key part of MFIbroker Ltd policy is the professional training of staff members in using our modern technological systems to trace illegal activities.

Additional Disclosure Identification

To ensure that the company complies fully with anti-money laundering legislation, MFIbroker Ltd requires two types of identification documents to verify a client’s account. The first document is a government issued document which includes a photo of the customer; this can be a passport, ID card or driving license. The second document is a bill or any other such document which bears the complete name and address of the client; this can be a utility bill, bank statement, affidavit or any other document which states the client’s full name and address. The latter type of document must be no older than 3 months.

MFIbroker Ltd requires the application form submission to be physically signed by the client. Moreover, if there are any changes in a client’s personal details, the client must inform the company immediately so we can update our records.

In the case that the aforementioned documents are in a non-western language, they must first be translated to English by an official translator, with the translated copies duly signed and stamped by that translator and sent along with the remaining identification documents.

Deposits and Withdrawals

With money deposits, the name of the sender of funds must match the name of the client we have in our records for that account. Third parties are not allowed to deposit on behalf of clients.

Likewise, with money withdrawals, the name of the recipient must match the name of the account holder from whose account the funds are being withdrawn. With online money transfers, the funds can be withdrawn via the same online transfer payment they were deposited/transferred from.