What is tax identification number (TIN)?

Tax Identification Numbers differs depending on the country.

The details and examples of documents where you can find your TIN depending of your country of origin can be found here:

For EU residents: https://ec.europa.eu/taxation_customs/tin/tinByCountry.html

For both EU and non-EU residents: https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/

How to deliver my documents to XBmarkets?

Any documents can be uploaded via the Client Portal during your registration process or at any later stage.

Alternatively, you can submit your documents to support@xbmarkets.com

Can I apply for different Categorisation?

All registered Clients are initially categorized as ‘Retail’ by default.

Any Client can be treated as Professional upon their explicit written request and also provided that they prove to have met at least two of the following criteria:

  1. The client has carried out transactions in significant size, at an average frequency of 10 per quarter over the previous four quarters.
  2. The size of the client’s financial instrument portfolio exceeds EUR 500.000.
  3. The client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.

Professional Client Status Details

Any Client can be treated as Professional upon their explicit written request and also provided that they prove to have met at least two of the following criteria:

  1. Elective Professional Clients must keep the Company informed about any change, which could affect their categorisation.
  2. Elective Professional lose their eligibility to fail a complaint against the Company with the Financial Ombudsman.
  3. Leverage Limits can be higher than those provided to retail clients as per the Product Intervention Measures respective for the Clients’ country of residency.
  4. No ICF coverage applies to Professional Clients. The Professional Clients explicitly waive their right to ICF coverage.
  5. The Company will request and examine evidence confirming that you have the relevant knowledge and experience levels to understand the risks in trading leveraged products.

The above serves as a summary of the Differences between Professional and Retail Clients only and is not exhaustive. Should you wish to apply for different Categorisation, you can contact us to support@xbmarkets.com

How can I get verified

A. Physical person / individual client

Proof of identity

i.e. a valid and clear colour copy of your Passport, ID card or driving license.

Proof of address

i.e. utility bill (landline, water, electricity, gas, internet), bank statement, local authority tax bill, reference letter from bank or attorney. The document shall be in your name, contain full address details and it cannot be older than 6 months.

B. Legal entity /Corporate client:

In case you wish for the establishment of an account of a legal entity client a separate/different application form needs to be filled, while more documentation needs to be provided (e.g. corporate documents, identification documents of U.B.Os and directors etc.). For more information please contact our customer support at support@xbmarkets.com.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.