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Eligibility Requirements

Learn more about who is eligible (and who is not) to use OpenTrade.

No Retail Users

Notwithstanding passing KYC/AML/CFT checks and sanctions screening, OpenTrade clients must be high-net worth individuals, companies, professional clients, sophisticated investors, accredited investors, or the equivalent in the jurisdiction in which they reside and/or operate. Retail users are not eligible for onboarding to OpenTrade.

Prohibited Countries

OpenTrade will not onboard any individual or company residing and/or operating in countries subject to sanctions by US, UK, EU, and UN government agencies.
OpenTrade will not onboard companies or individuals who are located, organised, or resident in the following countries:
  • United States of America
  • North Korea
  • Cuba
  • Iran
  • Syria
  • Any other country subject to comprehensive United States sanctions and/or embargoes, UN sanctions, or if you are on the U.S. Treasury Department’s Specially Designated Nationals List;
  • Any company or individual which supply any goods or services to any individual or organisation located, organised, or resident in Cuba, Iran, North Korea, or Syria or any other country subject to United States comprehensive sanctions and/or embargoes

Enhanced Due Diligence

Enhanced due diligence may be required during onboarding for any Lender which present a high financial crime risk to OpenTrade.
In addition to standard KYC/AML/CFT measures, EDD can be required due to a number of factors, including if the lender has been asses as having a high risk of money laundering based on our internal risk assessment, company structure, industry, reputation, involvement of PEPs, companies and individuals located, organised, or resident in jurisdictions that FATF recommends increased monitoring and/or the FCA considers "High Risk", among others.
OpenTrade reserves the right to apply part or all of EDD to medium or low risk Lenders if deemed necessary.
Last modified 2mo ago
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