KYC / Verification

Yes. Elefin requires clients to complete verification before making a first deposit or trading. This is part of Elefin identity verification, due-diligence and anti-money-laundering controls.

KYC helps Elefin confirm that the account belongs to the real client, that the client is eligible to use the service and that the account is not being used for fraud, money laundering, sanctions evasion or third-party activity. Verification also protects clients by reducing the risk of account takeover and payment abuse.

Elefin may request a valid government-issued identity document such as a passport, national ID card or driving licence. Depending on risk and jurisdiction, Elefin may also request proof of address, payment proof, source-of-funds information or other supporting documents in case if required on any account type/activity.

No. You must complete verification before the first deposit, and deposits and trading should remain disabled until verification is complete.

Most verification reviews are completed as quickly as possible, but timing depends on document quality, completeness, system checks and whether additional due diligence is required. If documents are unclear, expired or inconsistent, verification may take longer.

Verification may be rejected if the document is expired, blurry, cropped, edited, unreadable, mismatched with the registered details or not accepted for your jurisdiction. It may also be rejected if Elefin cannot confirm eligibility or if the account triggers compliance concerns.

Yes. If your verification is rejected because of document quality or missing information, you may be allowed to resubmit corrected documents. Make sure all details are visible, the document is valid and the information matches your registration profile.

Proof of address is a document that confirms your residential address, such as a utility bill, bank statement, tenancy document or government-issued address document. If required, it must normally be recent, clearly visible and match the name and address on your account.

Source-of-funds information helps Elefin understand where the money used for trading comes from. Elefin may ask for bank statements, income evidence, business documentation, crypto transaction records or other documents where required by AML policy.

Yes, Elefin may verify that deposits and withdrawals come from a payment method belonging to the verified client. Third-party payments are not accepted, and withdrawal methods are kept consistent where possible in line with AML best practice.

No. Deposits and withdrawals should be made from accounts or wallets belonging to the verified client. Using another person’s payment method may result in delays, rejection, additional checks or account restrictions.

Elefin may delay or reject the transaction and request additional proof. The payment name should match the verified client name wherever applicable. Name mismatches are treated seriously because they can indicate third-party funding or fraud risk.

Yes. Elefin may request updated or additional documents at any time for security, compliance, source-of-funds checks, transaction monitoring, complaints, withdrawals or regulatory reasons. Account access may be limited until the review is complete.

Enhanced due diligence is a deeper review applied when additional risk indicators are present, such as high transaction volume, unusual payment activity, inconsistent information, politically exposed person status, sanctions screening hits or complex source-of-funds questions.

Elefin may screen clients, partners and transactions against sanctions, restricted-jurisdiction and financial-crime controls. Clients or partners who are restricted, sanctioned or otherwise ineligible may be rejected or removed from the platform.

Providing false, incomplete or misleading information may result in account rejection, restrictions, closure, withdrawal delays, investigation or other actions permitted under Elefin policies. Accurate information is required throughout the account relationship.

Elefin uses industry grade compliance methods for profile verifications and storing user data. It uses personal data to operate accounts, meet legal obligations, process payments, prevent fraud and improve services. Verification data may be shared with service providers, payment processors, verification providers, professional advisers or regulators where needed.

You may request deletion or restriction of personal data subject to applicable law, but Elefin may need to retain certain records for legal, AML, regulatory, fraud-prevention or dispute-resolution purposes. Retention obligations may continue even after account closure.

Corporate account availability should be confirmed by Elefin before applying. If confirmed by support, corporate accounts usually require company documents, ownership information, director and UBO verification, board authorization and source-of-funds review. Please contact Elefin support before applying for corporate account services

No. Verification documents must be valid and not expired. If your document has expired, renew it or provide another acceptable government-issued identity document.

The verification system must be able to read your name, document number, date of birth, expiry date and other relevant details. Blurry, cropped, covered or edited images may be rejected because they cannot be reliably verified.

No. Elefin materials indicate that deposits and trading are disabled until verification is complete. This protects the platform and helps ensure that only eligible clients can access leveraged CFD trading.

Yes. Verification approval does not remove Elefin’s right to review, restrict or close an account if new information, prohibited activity, payment issues or compliance concerns arise. Ongoing monitoring is part of a responsible brokerage environment.

Submit accurate registration details, upload clear and valid documents, use your own payment methods and respond quickly if Elefin asks for additional information. Avoid edited screenshots, cropped IDs or inconsistent details because these commonly cause delays.