You should explicitly state your AML/KYC policies.
This page indicates that KYC is mandatory:
While we respect and honor the privacy of our clients, corporate and individuals, we are committed to undertaking thorough due diligence of both our clients' identities and the nature of their businesses. Therefore customers have to provide the following mandatory documents to comply with Know Your Client policy
If unverified accounts are allowed, you should clearly state the limits/features of each account tier
like Poloniex does. Traders who don't want to verify will be interested to see that.
Binapex says they employ a risk-based AML approach. Under what circumstances will you freeze an account and mandate KYC?
This information is wrong. As long as you impose exchange pairs that deal with fiat money (X crypto/ USD,) you must submit to identity verification procedures.
In other words, the platform does not impose restrictions on identity is wrong information.
That's not necessarily true. Bitfinex operates USD markets and does not mandate KYC. BTC-e did the same for many years. Binapex appears to work with 3rd party fiat processors like PerfectMoney who implement their own KYC.
where is the platform is located? Can you provide any legal documents?
Republic of Seychelles
Company #8424785-1
https://binapex.com/uploads/Corporate_Binapex_COI.pdfI can't locate a Seychelles corporate registry to verify, though.