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Anti-Money Laundering (AML) Guidelines

Document Required from Individuals Opening an Account

In accordance with applicable Canadian laws, Options Funded Trade (OFT) must verify your identity before allocating company capital to any individuals as a contractor. There are various ways to verify your identity, but we usually confirm a person’s identity with a photo ID and proof of address.

A valid photo ID may either be a (1) passport or (2) government-issued ID, such as a driver’s license.  Please ensure that the photo ID shows your full name and date of birth.  Any missing information may disqualify you from opening an account with OFT.

A valid proof of address comes in many forms.  The following is a list of documents that are acceptable forms of proof of address:

  • Lease agreement or mortgage statement
  • Insurance card
  • Voter registration card
  • Utility bill
  • Mail with name of applicant
  • Bank or credit card statement
  • Government-issued tax document
  • Record of employment or pay stub
  • School transcript

Note that any of the aforementioned proof of identity documents must be current.  Any document that is expired or more than three (3) months old will not be accepted.  Additionally, any document with the individual’s name and a P.O. Box address will not be accepted. 

However, should you have trouble accessing or having possession of any of the documents listed above, please contact us so we can assist further. We may be able to accept the certificate of citizenship. Documents must be in English. If documents are in another language, OFT reserves the right to require the document to be translated in English alongside the original document.

Withdrawal of Funds

OFT adheres to strict guidelines to ensure accurate, efficient and thorough transfer of funds.

  1. OFT clients must complete a withdrawal request form which will contain the account holder’s information.
  2. All requests must be submitted to OFT accounts’ department for processing.  The department will confirm the account balance and that there are no holds or applicable restrictions on the account.  Once approved, compliance will also approve.
  3. The account’s department will review all requests and confirm that the original funds are being requested using the same method of deposit and to the correct account holder on file.  We examine the request made in conjunction with the client’s deposit history to ensure that there is no suspicious activity.  We also verify the bank account on file.
  4. Once reviewed and approved, the request for withdrawal will be processed and the funds will be sent to the individual.
  5. In the case that an account is perceived or determined to have suspicious activity, the withdrawal will be placed on hold and will be reviewed internally for further investigation.
  6. Any unauthorized, unlawful, or willful misconduct may require OFT to involve legal counsel or external authority.

Notice
OFT performs actions to adhere to applicable laws and regulations. It does not accept cash deposits nor does it disburse cash under any circumstance. Furthermore, OFT does not accept third-party deposits of any kind. OFT reserves the right to refuse processing of a transaction along any stage where it believes that the transaction is or may be associated with unlawful, illegal, or willful misconduct that may lead to money laundering crimes or criminal activity. Should there be suspicion or a determination that the account holder is engaged in criminal activity, OFT is not obligated to inform the client if suspicious activity is reported to any regulatory or legal body of the government.