When it comes to financial matters and investments, ensuring compliance with tax regulations is a fundamental requirement. In this article, we'll delve into the importance of providing your tax number and shed light on why it's a crucial step in completing your FXTM account with a taxpayer identification number (a.k.a TIN).

Why is FXTM asking for my Taxpayer Identification Number (TIN)?

FXTM is a licensed and regulated financial institution. As such, we’re legally obliged to inform the Mauritius tax authorities of the countries in which you are considered a tax resident. The Mauritius government cooperates with other countries to counter tax evasion and therefore requests this information from financial institutions.

How can I update my Taxpayer Identification Number (TIN) on MyFXTM?

If you have registered an account, please follow these steps to enter your TIN on MyFXTM:

1. Log into your dashboard
2. Click on ‘My Profile’
3. Scroll down to the bottom right of the page
4. See the section ‘Tax Identification Number’
5. Enter your TIN in the field
6. Save your changes by clicking ‘Submit’
7. If you don’t have a TIN, you’ll have to give the reasons as to why not, considering your local tax laws and CRS regulations.