Policy objective

1. Where the needs of enhanced due diligence arise particularly for those customers whose is identified as High Risk and/or Politically Exposed Person (“PEP”) or where there are unidentified hits in the World Check results, TradeUltra Ltd (herein the “Company”) will take necessarily meant to identify those customers and the nature of business of Company or proposed Company.

Below are some of the additional questions to ask and/or information required from potential/existing customers for enhance due diligence purposes:

2. Interview customer to check the legitimacy of the business by asking the following additional open-ended questions (“know your customer” questions):

Elaborate further on type of business and nature of trade;
Elaborate further on source(s) of fund(s) of business and its country of origin;
Nature of payment(s) and outgoing of fund(s) to the country(ies) involved;
Nature of transaction(s) and incoming of fund(s) from the country(ies) involved;
For PEP, has customer ever been rejected by any government agency(ies), ministry(ies), political party(ies), and/or other statutory body(ies), even in other jurisdiction they concerned in; and
Request explanation if the current/proposed business will be used by the ministry(ies), agency(ies), political party(ies) and/or any other statutory body(ies) they concerned in as stated in 1(f).

3. Once satisfied with customer’s explanation, we will proceed to get the customer to complete our Enhanced Due Diligence Form or Statutory Declaration, where applicable and necessary. However, we will inform customer at the outset that the business decision depends on our Compliance’s final approve of its/his/her application.

4. Once Compliance is satisfied on all above, Trade Ultra’s Compliance Officers/ Officers and /or Employees will proceed to advise customer on the business relationship.

5. Trade Ultra’s Compliance Officer/ Officers and /or Employees to use Checklist and Control to complete the On Boarding or Annual Review.

Risk Warning: CFDs and Margin FX are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone and may result in you losing substantially more than your initial investment. You should only trade with money you can afford to lose. You should ensure before trading you fully understand the risks involved and consider your level of experience. If necessary you should seek independent advice.