Every client of RegalX must first complete the mandatory account verification process due to regulatory requirements. This keeps our company secure, protecting both our clients and us, by ensuring all activity on our platform is legitimate. Our company continually strives to provide the best possible customer experience. As such, we allow our clients a window in which to collate and provide the required documentation, depending on their deposit threshold. Options are limited until the verification process is completed.
Once your account is fully verified, you will be able to enjoy the benefits of the RegalX platform and our associated products in full. To verify your account, you will be required to upload Proof of Identity (POI), Proof of Residence (POR), and complete two short questionnaires – Appropriateness Test and the Economic Profile. These documents can be easily uploaded through the RegalX dashboard.
Proof Of Identity
We accept all government-issued identification documents: Passport, national ID card, driving license, or other government-issued ID. The document must be valid and display your full name, date of birth, a clear photograph, and issue date; if an expiration date is printed, that should also be visible. A passport is the preferred proof of identity and will allow our team to complete the verification process more quickly. If the document you provide is double-sided, images of both the front and back should be uploaded. Ensure that your document is in focus and has not been cropped or altered.
Proof Of Residence
The uploaded document must be issued in the name of the RegalX account holder. It should be dated within the last three months and must contain your full name, current residential address, issue date, and issuing authority.
We accept utility bills, bank statements, and official paperwork issued by a government agency or judicial authority.
Accepted documents include:
• Electricity, water, gas, internet or telephone bill
• Bank statement
• Credit Card statement
• Bank reference letter
• Tax letter
• Council tax bill (for the current year)
• Social insurance statement
• Government-issued Certificate of Residence
• Notarized Affidavit of Residence
• House Rental Official Agreement – Issued from a Rental Agent (not older than one year)
As a regulated company, we are obligated by law to collect certain information about our clients during the application process:
• Appropriateness Assessment Test – ensures that you are given access to the leveraged products and services most suited to you. It demonstrates that you have relevant experience in the financial markets, and have an understanding of the risks involved.
• Assessment of client’s economic situation – allows us to ensure that a client’s financial situation is appropriate to their funding pattern. It also adds an extra level of verification for AML purposes.
Registering a new account
We will only accept registrations in a client’s official name, as stated on their identification documents. Therefore, please ensure that you provide us with accurate, valid information from the start. Any attempts to register an account in a fake name or nickname will result in the application being rejected. After you open an account with RegalX, you will be asked to complete your personal information as soon as possible, i.e. date of birth, residential address, etc. This will help to speed up the verification process for you.
You may be required to provide additional information and/or documentation after your first deposit and/or after you have funded your account. This applies regardless of whether you have used one or more payment options, or one or more cards/accounts.
Why might we request additional information?
• Your account has been funded using a credit/debit card or virtual card
• The origin of your funds cannot be verified from your deposit, or the required proof of payment, i.e. further evidence is required to confirm the funds were sent from a bank account in the RegalX account holder’s name
• You have reached a limit for account deposits where additional verification is required, as per AML and RegalX policies
Once one or both of your verification documents have expired, we will contact you for an up-to-date copy of your Proof of Identity and/or Proof of Residence.