The need for Tradeview to know its clients is vital for the prevention of money laundering. If a client has established a relationship under a false identity, he may be doing so for the purpose of defrauding Tradeview itself or merely to ensure that he cannot be traced or linked to the proceeds of a crime. A false name, address or date of birth will usually mean that the law enforcement agencies cannot trace an individual client if he is needed for interview in connection with an investigation.
When a business relationship is being established the nature of the business that the client expects to conduct with Tradeview should be ascertained at the outset, so it can be understood what might be expected as normal activity. In order to be able to judge whether a transaction is or is not suspicious it is necessary to have a clear understanding of the legitimate business of clients. The purpose of the procedures in this section is to ensure that Tradeview does know its clients, not only in terms of their identity but also in terms of their source of wealth and funds and the likely use and activity they will undertake with Tradeview.
Financial Service Providers such as Tradeview must guard against their business and the financial system being used for the purposes of money laundering or terrorism. The following procedures have been developed to achieve three main purposes:
To ensure Tradeview conducts business with legitimate parties;
To enable suspicious customers and transactions to be recognized as such and reported to the authorities
To ensure the provision of an audit trail if a client or customer comes under investigation.
The Guidance Notes are clear on the information that is required on all clients and categorize clients into four Types: individuals, corporations, limited partnerships, and trusts.
Fundadministration, Inc. has rebranded as Mainstream Fund Services, Inc. Mainstream Fund Services, Inc. provides professional accounting, consulting and administrative services for other hedge funds, broker dealers, fund of funds, CTAs, CPOs and other managed accounts. Mainstream Fund Services, Inc. and Tradeview Ltd have entered in a relationship where Mainstream provides custodial and cash management services for Tradeview Ltd. Services include establishing bank accounts, processing fund transfers, providing cash reconciliations and supporting AML/KYC procedures. Tradeview entered into this custodial and administrative services relationship in order to satisfy client demand for a separation between client funds and company funds, where there is an independent fund administrator overseeing segregated client funds.
Account funds and deposits are protected with above and beyond due diligence and protective measures. Mainstream has a fund administration agreement with Tradeview Ltd. for BMO Harris Bank. Tradeview uses the Top Tier Bank Santander via Global Custodial Services to hold Client funds securely. Also, as of February 2018, Tradeview Ltd. opened an operating only account with NCB Limited in the Cayman Islands. Client accounts are established with the required coding to ensure they are used for clients funding purposes only. All funds deposited at Tradeview follow our strict policies and procedures with activities monitored and reviewed by our external and internal auditors.
Tradeview Financial Markets SAC and TVM CAPITAL S.A. de C.V. have fund administration agreements with TVCM Ltd., while TVCM Ltd. has a service agreement with Tradeview Ltd. TVCM Ltd. performs custodial and administrative services including reconciliation of cash/ custodial statements daily, verify AML procedures on all deposits/subscriptions and withdrawals, wire funds to trading accounts as directed by client for margin requirements, pay company approved expenses, and wire investor proceeds or distribution upon request. TVCM Ltd. has access to credit card payment and alternative payment options. Scotiabank, Banorte, and BBVA Bancomer have a relationship with TVM CAPITAL S.A. de C.V and Tradeview Financial Markets SAC has a relationship with BBVA Continental Peru. Tim Furey is the principal of each entity and Woo Chung administers the day to day functions of these entities.
Tradeview understands the importance of convenience and flexibility for our partners and clients. As a result of this we accept and support the following options to fund accounts: GCEN, Scotiabank, BMO, Banorte, CIBanco, BBVA Bancomer, BBVA Continental Peru, Hirose Lion Payment, GPN DATA, ecoPayz, Neteller, Skrill, OK PAY, My Bit Wallet, Sticpay, Bitpay ,Uphold, Epayments, Fasapay, China Union Pay, TransferMate and most major Credit Cards. Clients may make deposits in USD, EUR, CAD, AUD and JPY.
IMPORTANT NOTICE TO CLIENTS REGARDING CRYPTO CURRENCY PROHIBITION
Please be advised that tradeview does not accept crypto currency for deposit into client accounts. all deposits into client accounts must be made in fiat currency such as USD, JPY, EUR, GBP, CAD and MXN. clients using third party payment providers such as bitwallet to fund their account at tradeview are prohibited from depositing crypto currency with the third party payment provider and then converting the crypto currency to fiat currency for further deposit into their account. tradeview must be able to trace all deposits back to a regulated financial institution. violations of this anti-money laundering compliance provision regarding the use of crypto currency as a source for deposit into your tradeview account will result in the immediate liquidation of all open positions in your account and the permanent closure of your account.