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Anti-Money Laundering

Anti-Money Laundering Policy

Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be traced.

Domestic and international laws that apply to companies, whose customers can deposit and withdraw funds from their accounts, make it illegal for AGEA, or its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction in criminally derived property.

Implemented Procedures

The objective of anti-money laundering procedures that AGEA implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers.

AGEA is committed to assisting governments combat the threat from money laundering and terrorist financing activities around the world. For that purpose AGEA has setup a highly sophisticated electronic system that documents and verifies client identification records, and tracks and maintains detailed records of all transactions.

AGEA carefully tracks suspicious and significant transaction activities, and reports such activities providing timely and comprehensive advice to law enforcement. To uphold the integrity of the reporting systems and provide protection to businesses, the legislative framework provides legal protections to providers of such advices.

In order to minimize the risk of money laundering and terrorist financing activities, AGEA does not accept cash deposits and does not pay out cash under any circumstances. AGEA is also prohibited from informing a customer that they have been reported for suspicious activity.

Withdrawals Rejection

AGEA reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity and may reject a withdrawal and require further information to verify if the person who requested the withdrawal is the real owner of the account. The customer will receive a communication by e-mail informing him or her that the withdrawal has been rejected by AGEA's specialists and the customer will be requested to join our support channels within the default trading platform to provide the requested details or to answer related security questions.

Customers are only allowed to withdraw their funds through the methods they have previously used for deposits.

Our Compliance Regime

AGEA implemented a compliance regime, as laws require from financial institutions, including appointment of a compliance officer, preparation of policies and procedures, periodic review of their effectiveness, and ongoing compliance training of our staff.

AGEA is committed to regularly update its electronic system for inspection of suspicious transactions and for verification of client identification records, in accordance with any new regulations as they are promulgated, as well as providing training for its employees on enhancements to anti-money laundering procedures that may be required by new regulations.