At PrimeXBT, we’ve always been committed to putting our clients’ needs and safety first. Our all-in-one trading platforms were built from the ground up to provide users with an easy way to buy their favourite Cryptocurrencies and trade global markets, in a secure environment.
We understand the importance of regulations, both national and international, to securing the safety of our clients’ financial activities. We have always welcomed the implementation of regulations focused on client safety and work hard to ensure we are fully compliant with any changes. Prioritising client safety goes further than just educating clients about the markets; it extends to how we, as a brand, promote our products and services.
Considering the most recent regulatory developments, we have decided to make a clear statement regarding how we approach marketing and promoting our services.
Marketing and promotion
We have established comprehensive internal policies regarding the creation and distribution of marketing material, to ensure compliance with the most recent industry regulations and to eliminate the possibility of misleading our users.
To eliminate any potential doubt, and to ensure the public is aware of potential misrepresentations abusing our brand, we do not promote our products and services in countries or regions where they are regulated or where an authorisation or license is required to do so, such as the European Union and the United Kingdom.
It’s important to mention that our website is for the marketing or promotion of PrimeXBT services, and content is not directed at residents of any country outside of the jurisdictions in which we hold a license.
Anyone who decides to open an account with PrimeXBT does this independently, under their own exclusive initiative, and has to confirm that no solicitation or recommendation has been made by PrimeXBT or any other entity within the group.
PrimeXBT as an entity falls outside the EU and UK regulatory frameworks and there is no provision for an Investor Compensation Scheme.
In regions where we do operate, we always include the necessary risk warnings and provide understandable explanations of the associated risks, in all our marketing materials.
Similarly, we communicate these requirements and restrictions to all our Affiliates and Partners, providing them with clear guidelines on the prudent way to go about promoting our brand.
Enhancing Anti Money Laundering (AML) and Know Your Customer (KYC) best practices
In every country we operate, we strictly adhere to all rules and regulations governing the provision of investment and trading services. As a part of our Know Your Customer (KYC) policy, clients, regardless of their location or residency, may be subject to enhanced due diligence reviews. Regardless, our Anti Money Laundering (AML) policy is applicable to all client transactions.
AML screening using the latest technology
We have always used the latest technology to improve the services we provide to our clients. That extends to our AML software, for monitoring all on-chain transactions, which is one of the most advanced in the industry and something we have been using for the last few years.
It is also important, wherever possible, to ensure that compliance with industry regulations remains a benefit for our users, rather than becoming an obstacle. This is why we have collaborated with Sumsub for our identity verification needs, enabling our clients to get verified in a matter of seconds while we remain fully compliant with our obligations.
Looking ahead to a safer, more secure future
No matter the situation, at PrimeXBT, we remain fully committed in our compliance with and adherence to all global AML rules and regulations, now and into the future.
If you have any questions about how we protect our clients, don’t hesitate to contact us via email at [email protected].
