Know Your Business
Corporate clients undergo risk-based KYB and beneficial-ownership verification.
Compliance
Built with compliance at the core
Trust begins with transparency. BURQ FX LTD, operating as BURQ FX, is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business.
Registered MSB
FINTRAC registration
| Legal entity | BURQ FX LTD |
|---|---|
| MSB registration number | C100000771 |
| Initial registration | 11 August 2025 |
| Registration expiry | 30 November 2027 |
| Registered activities | Foreign exchange dealing, money transferring, dealing in virtual currency, and payment service provider (PSP) activities |
| Jurisdiction of incorporation | Alberta, Canada (Incorporation No. 2026605531, incorporated 4 November 2024) |
| Business address | 315-7 Westwinds Crescent NE, Calgary, Alberta, Canada T3J 5H2 |
Registration with FINTRAC does not constitute licensing, endorsement or certification by FINTRAC of BURQ FX, its products or services. BURQ FX is not a bank.
Risk-based controls
BURQ FX maintains a risk-based compliance framework designed to meet applicable anti-money-laundering and counter-terrorist-financing requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and FINTRAC guidance. Our onboarding process may include verification of corporate ownership and control, directors, authorised persons, source of funds, nature of business and anticipated transaction activity.
Transaction Monitoring
Transactions may be monitored and reviewed in accordance with our compliance policies and applicable legal requirements.
Sanctions Screening
Clients and transactions are subject to applicable Canadian and international sanctions and financial-crime screening.
Enhanced Due Diligence
Additional information or documentation may be required depending on the customer, jurisdiction, industry or transaction.
Travel Rule Compliance
For qualifying virtual currency transfers, BURQ FX collects and, where applicable, exchanges prescribed originator and beneficiary information with counterparty institutions, in line with FINTRAC requirements.
Risk disclosure
Digital asset and virtual currency risks
Before using any BURQ FX virtual currency or digital-asset service, please read and consider the following:
- Price volatility. The value of digital assets can rise or fall significantly and rapidly, and you could lose some or all of the value of the digital assets you hold or transact in.
- No deposit insurance. Digital assets held or transacted through BURQ FX are not insured by the Canada Deposit Insurance Corporation (CDIC) or any equivalent scheme, and are not backed by any government.
- Irreversibility. Once confirmed on the relevant blockchain network, a digital-asset transaction generally cannot be reversed, cancelled or recalled, including where sent to an incorrect address.
- Liquidity risk. It may not always be possible to buy, sell or convert a digital asset quickly, or at the price you expect, particularly during periods of market stress or network congestion.
- Regulatory risk. The regulatory treatment of digital assets in Canada and other jurisdictions is evolving and may change, which could affect the availability, value or tax treatment of a digital asset.
- Technology and custody risk. Digital assets rely on blockchain networks, wallets and cryptographic keys. Loss of a private key, key compromise, network outage, or a bug or exploit in the underlying protocol may result in permanent loss of assets.
- No investment advice. BURQ FX provides execution and settlement infrastructure only. Nothing on our website or in our communications is investment, financial, tax or legal advice, or a recommendation to acquire, hold or dispose of any digital asset.
- Eligibility. Digital-asset services are available only to eligible business and institutional customers, in jurisdictions and for assets that BURQ FX supports, and are subject to compliance approval at all times.
You should only transact in digital assets that you understand and can afford the risk of losing, and should seek independent advice if you are unsure.