2020 Covid - 19 Update

Forex World is currently operating under strict Covid-19 controls, kindly contact us on

0861 436 739 for assistance.

 

Please note that this branch is temporarily closed due to Covid-19. We apologise for the

inconvenience caused.

 

Thank you for your understanding.

 

Management

CHANGING THE WAY

WE DO THINGS

As an accountable institution, Forex World must comply with its obligations as set out in the FIC Act.

We have a customer due diligence obligation in terms of Part 1, Chapter 3 of the FIC Act.

 

How does this affect our customers?

All information obtained by Forex World must be verified, including the source of the funds used for

each transaction.

 

For your convenience, we’ve put together a quick reference table below:

 

Transaction Value (ZAR)

0 – 50, 000.00

Required Documentation

  • Regular Due Diligence
  • BOP form

Transaction Value (ZAR)

Required Documentation

50, 000.01 – 150, 000.00

  • Regular Due Diligence
  • BOP form
  • Proof of payment from client account

Transaction Value (ZAR)

150, 000.01 – 500, 000.00

Required Documentation

  • Regular Due Diligence
  • BOP form
  • Source of funds form
  • Proof of sufficient funds
  • Proof of payment from same account

Transaction Value (ZAR)

500, 000.01 – 750, 000.00

Required Documentation

  • Regular Due Diligence
  • BOP form
  • Source of funds form
  • Bank statement evidencing incoming funds to be used
  • Proof of payment from same account

Transaction Value (ZAR)

750, 000.01 – 1, 000, 000.00

Required Documentation

  • Regular Due Diligence
  • BOP form
  • Source of funds form
  • Minimum 3 months’ bank statements or other document evidencing incoming funds to be used
  • Proof of payment from same account

Thank You for your support during 2019

Looking forward to continue our relationship in 2020.