Broker Verification: Which Documents They Ask For and Why KYC Blocks Withdrawals
What KYC and AML mean in practice, which documents are accepted, how long checks take, and what to do when a withdrawal is held up.
Verification is not bureaucracy for its own sake. A regulated broker must know who its client is and confirm the money is not of criminal origin. Hence two procedures: KYC (know your customer) and AML (anti-money laundering).
What gets requested
Identity. Passport or national ID. Scans must be in colour, with all four corners visible and nothing cropped.
Address. A utility bill, internet bill, bank statement or registration certificate — under three months old, with your name and address on the same page.
Sometimes source of funds. Payslips, account statements, or documents evidencing a sale. Requested on large deposits or where the client profile does not match the transaction volume.
The rule that breaks plans
Withdrawals go back through the deposit method and only to the account holder's own details. Deposit by card and the original amount returns to that card first; profit above it leaves by bank transfer or e-wallet.
This is a payment-scheme requirement, not broker whim. It is also why depositing from a friend's or relative's card almost guarantees a withdrawal problem later.
How to get through without delays
- Verify right after registration, not when you need the money.
- Make sure the address on the document matches your profile letter for letter.
- Photograph documents flat, in daylight, without glare.
- Do not switch deposit methods without reason.
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Frequently asked questions
Which documents are needed?
Usually a passport or ID card plus proof of address — a utility bill or bank statement no older than three months. Sometimes a selfie with the document and proof of source of funds.
How long does verification take?
From minutes with automated checks to one to three business days when reviewed manually. Delays are usually an unreadable scan or an address mismatch.
Why can I not withdraw to someone else's card?
AML rules prohibit paying out to third parties. Withdrawals go only to accounts in the account holder's name, and through the same method used to deposit.
- Min. deposit
- $100
- Spread
- from 1.2 pips
- Commission
- $3.5 per lot per side
72% of retail investor accounts lose money when trading CFDs
- Min. deposit
- $100
- Spread
- from 1.1 pips (Standard STP)
- Commission
- $3 per lot per side (Raw ECN)
CFDs are complex instruments with a high risk of losing money