Quick start
This is a brief guide to help you with the onboarding process from passing our KYC to making your first trade.
1. KYC
As a financial intermediary and a member of VQF, FinchTrade follows anti-money laundering laws and regulations, with client identification being the central part. Thus, every client needs to pass our KYC check prior to being able to trade.An authorised representative needs to follow the process (detailed explanation):
creating an account on finchtrade.com
filling out the questionnaire and attaching the necessary documents
passing mobile verification via SMS
passing online video identification
Required documents include:
Commercial register excerpt
Memorandum/articles of incorporation
Shareholders and Directors registers
Passports of shareholders with >25% ownership and Director/Authorised representative who opens the account
Important notes:
All documents must be in English, German, or French (or have a certified English translation)
Additional documentation, including financial statements, may be requested during the KYC process
FinchTrade is regulated and registered as a financial intermediary, supervised by VQF
For more details, please visit this page.
Why might additional documents like bank statements be requested?
Additional documentation, including financial statements, may be requested during the KYC/compliance process - typically to verify the source of funds as part of our AML obligations. Please confirm the exact list of required documents with your account manager.
What language is the video verification conducted in? What if I don't speak English?
Video verification is conducted in English only. If the authorized representative does not speak English, the company can issue a Power of Attorney authorizing an English-speaking person to complete the KYC process on behalf of the company. The Power of Attorney must include: full legal name and registration details of the company, full name and passport/ID number of the authorized representative, scope of authorization (onboarding and video identification with FinchTrade AG), and expiration date.
2. Verify your wallet
Before trading, you will need to verify your wallet. See Satoshi test.
3. Making a deposit
As we do not require 100% pre-funding, you are able to sell X units of an asset without having them, i.e., short selling is allowed. However, you can only do it within the trading limit and after placing collateral.Contact us to agree on trading limits and collateral ratios. We usually start with a smaller value to tune the process, but we are ready to review it once our business relationship is growing. Read more
4. Trade
Now you can make your first trade. To do so, you need to connect to our institutional-grade technology via API or GUI. Read more
5. Settle/Withdraw
Once you make your first trade or trades, you will see the resulting open (unsettled) positions in the assets you traded. Your open positions are visible on our web portal.Please note that we need to whitelist your blockchain addresses in advance in order to deliver a digital asset to you without delays.Our post-trade settlement is automated; thus, we can settle 24/7 in most cases. Read more
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