Adam Steven T380 Young#48

查看翻譯

What is KYC (Know Your Customer) in forex trading?

KYC requires brokers to verify client identities through documents like passports, utility bills, or bank statements. It ensures compliance with AML and prevents fraud. Benefits: transparency, reduced financial crime, and protection for both broker and client. Risks: data privacy concerns if brokers mishandle documents. Retail traders should complete KYC only with regulated firms that secure personal data. Institutions apply KYC rigorously, especially for large accounts and corporate clients. KYC is more than bureaucracy—it is the entry ticket ensuring fair and legal market access.