Dear User:

Please be advised that under the Binance Broker Program, all sub-accounts of Binance independent broker accounts must comply with Binance's enhanced compliance standards, including non-trading sub-accounts created solely for depositing assets.

Only authenticated and compliant users can access their subaccounts. As of March 20, 2024, Binance has restricted subaccounts that do not provide compliant Know Your Customer (KYC) documents. As of May 20, 2024, subaccounts that do not provide the necessary KYC information will be completely restricted and will not be able to use the Binance Broker Program.

Independent broker account holders should ensure that they have fully integrated the broker KYC module, which provides information about sub-accounts. Independent broker account holders must provide any additional user information on behalf of their sub-account holders upon request. This may include, but is not limited to, source of funds, source of wealth, and proof of address. Please be prepared to collect and provide such information to your users if required. Incomplete user information may result in account login failures. Please note: Binance will only communicate with independent broker account holders and will not engage directly with independent broker end users.

RFI (Request for Information) Details:

Sources of Funds (SOF) include:

  • salary; income from self-employment; savings; allowances; pensions; dividends; payments/profits from companies; day trading; gambling; passive income; loans/mortgages; sale of financial assets; sale of real estate or other assets; inheritances; donations

Sources of Wealth (SOW) include:

  • Salary; self-employment income; inheritance; donations; mortgages; company profits (shares/dividends); financial investments; cryptocurrency investments

Proof of Address (POA) includes:

  • Utility bills such as electricity, water, gas or sewerage; Internet service provider bill; landline telephone bill (mobile phone bills are not acceptable); Owner's Corporation Disclosure Statement; Building Management Statement; Home Insurance Statement; Mortgage Statement; Bank or credit card statement; Stamped and/or signed bank reference letter; Student tenancy agreement from university accommodation or university housing/dormitory; Letter from the university confirming the student's attendance and current address; Documentation of government student grants/loans or scholarships sent to current address

Politically Exposed Person (PEP)

Binance may require sub-account users to complete a Politically Exposed Person (PEP) Questionnaire, which independent brokers can download for their sub-account users through the Know Your Customer (KYC) integration document. It includes the following questions:

  • you are a politically exposed person or are associated with a politically exposed person;

  • If you are a PEP, please provide details of your PEP position including: occupation/title, employer name, employer address and employment dates;

  • If you are related to a politician, please provide details of your relationship to the politician.

Binance will impose the following restrictions on sub-accounts that do not provide complete KYC information.

Sub-account restrictions

Serve

limit

top up

Not allowed

Withdrawal

Allowed unless otherwise specified

Spot Trading

Not allowed; no new orders can be created and all existing spot orders will be cancelled

Contract Trading

Not allowed; new orders cannot be created, only reduction of positions is allowed for all existing positions

Leveraged Trading

Not allowed; new orders cannot be created, only position reduction is allowed for all existing positions

Notice:

  • Due to legal and compliance requirements, in some cases, sub-account assets may be frozen and account access may be restricted. When such a situation occurs, Binance may not be able to provide detailed instructions to independent broker accounts and their sub-account users for legal and compliance reasons;

  • Restricted sub-accounts will also not be able to receive deposits. In the event of an erroneous deposit, it may take 45 days to recover. An administrative fee of $200 or equivalent will be charged for each appeal, regardless of the deposit amount. All independent broker account holders must notify their sub-account users of these changes;

  • Sole Broker accounts that are unreachable, unresponsive, or uncooperative will have their access restricted. In some cases, Sole Broker accounts will be downgraded to Corporate accounts and unused sub-accounts will be deleted. The holders of such accounts will lose access to the Broker Program and will not be able to apply again in the future.

  • There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.

Thank you for your continued understanding and cooperation in helping Binance build a more secure, transparent, and user-friendly platform.

Thank you for your support!

Binance Team

April 05, 2024