What documents do I need to open a forex trading account?

You need two documents: a government-issued photo ID (passport or national ID card) and a proof of address (utility bill or bank statement) dated within 90 days. Most brokers in this comparison require exactly 2 documents. Swissquote is the exception, requiring 3 documents due to Swiss FINMA banking regulations. Some brokers (Saxo Bank, Interactive Brokers, XTB) do not accept driving licences, so a passport or national ID card is safer to use.

How long does forex broker verification take?

We do not publish approval times: brokers state them inconsistently and we have not submitted applications to time them. What we can compare is the verification route. 18 of 21 EU-eligible brokers use an automated eKYC provider (Onfido, Sumsub, Jumio, iDenfy or an in-house digital check), which can approve a clean application without waiting for manual review. Saxo Bank, Interactive Brokers, Swissquote rely on manual compliance review, and Swissquote adds a video identification call under Swiss FINMA rules, so expect those to take longer. Applications with inconsistent details or PEP matches take longer at every broker; check the broker's own onboarding page for its current approval times.

Can I use a driving licence to open a forex account?

14 of 21 EU-eligible brokers accept driving licences as primary ID. The 7 that do not — XTB, Saxo Bank, Interactive Brokers, Admirals, Swissquote, Tickmill, FxPro — require a passport or national ID card. If you are applying to any of these brokers, have your passport or national ID ready. Exness also does not accept driving licences, but EU/EEA residents cannot open accounts there regardless (EU onboarding closed since 2019).

What counts as proof of address for a forex broker?

Accepted proof of address documents include utility bills (electricity, gas, water, internet/broadband), bank or credit card statements, and government-issued letters (council tax, voter registration, HMRC correspondence). The document must show your full name and residential address. Most brokers require documents no older than 90 days. Swissquote and Saxo Bank require 60 days (stricter). XM is the most lenient, accepting documents up to 180 days old. Plus500 does not accept government letters — utility bills or bank statements only.

Do forex brokers require a selfie or biometric check?

15 of 21 EU-eligible brokers require a selfie or liveness check as part of digital verification. EU-eligible brokers that do NOT require a selfie: IG, Saxo Bank, Interactive Brokers, Swissquote, XM, Forex.com. XTB and Swissquote offer video verification as an alternative to or extension of their standard process. The selfie/liveness check is used to confirm that the ID document belongs to the person applying, not just to match a photo.

What triggers re-verification at a forex broker?

Address changes always trigger re-verification at all brokers — you must submit a new proof of address matching the new address. Additional triggers vary: AvaTrade and BlackBull re-verify after 12+ months of account dormancy. Interactive Brokers and Swissquote conduct periodic CRS/FATCA and FINMA-mandated reviews respectively. XTB performs annual reviews for all accounts. eToro re-verifies when clients reach deposit tier thresholds. These are regulatory requirements, not broker discretion.

Is my data safe during broker KYC?

EU-regulated brokers must comply with GDPR in addition to AML/KYC rules. Third-party verification providers (Onfido, Sumsub, Jumio, iDenfy) process documents using AI with encryption at rest and in transit. These providers are SOC 2 certified and do not retain document images longer than necessary. Brokers are required under AMLD5 to retain KYC records for 5 years after account closure — after that, records must be deleted. If you have data concerns, you can submit a GDPR Subject Access Request to the broker at any time.

Can I trade without completing KYC?

No. Under EU Anti-Money Laundering Directive 5 (AMLD5) and its successor AMLD6, all regulated EU brokers must verify client identity before permitting deposits or real-money trading. Some brokers allow limited demo account access while KYC is pending, but no funded trading is possible until verification is complete. This is a legal requirement, not broker policy — any broker allowing real-money trading without KYC is operating outside EU regulatory requirements, which itself is a red flag.

Forex Broker KYC/Onboarding Requirements Matrix — June 2026

Name: EU Forex Broker KYC/Onboarding Requirements Matrix — June 2026
Creator: FX-Brokers.info Markets Desk
Published: 2026-06-16
License: https://creativecommons.org/licenses/by/4.0/

Accepted ID types, proof of address rules, verification route, selfie requirements, and digital verification providers compared across 27 forex brokers (21 accept EU/EEA retail clients). Know exactly what you need before you apply.

Published 2026-06-16·Markets Desk·June 2026 Edition·27 brokers surveyed

Key Findings — June 2026

18/21

Automated eKYC

14/21

Accept Driving Licence

19/21

Accept eID / Digital

15/21

Require Selfie/Liveness

Quick summary: 18 of 21 EU-eligible brokers verify identity through an automated eKYC provider. Almost all require just 2 documents — a photo ID and proof of address dated within 90 days. Saxo Bank, Interactive Brokers, Swissquote use manual compliance review, and Swissquote adds a FINMA video identification call, so expect those to take longer. We do not publish approval times. Brokers marked non-EU (BlackBull, CMC Markets, FXTM, Fusion Markets, Vantage, Exness) do not accept EU/EEA retail clients.

Master KYC Requirements Matrix

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Broker	Provider	Passport	Nat. ID	Drv. Lic.	PoA Age	Selfie	Video	eID	PEP	Min Docs	EU
Pepperstone	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
BlackBull FMA (NZ) / FSA (Seychelles) only; does not offer its services to EU or UK residents	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	✗
IC Markets	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
XTB	iDenfy	✓	✓	—	90d	✓	✓	✓	Standard	2	EU
IG	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	EU
CMC Markets Serves international clients via CMC Markets Bermuda Ltd — not EU/EEA retail	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	✗
Saxo Bank	Manual	✓	✓	—	60d	—	—	—	Standard	2	EU
OANDA	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Interactive Brokers	Manual + Digital	✓	✓	—	90d	—	—	✓	Extensive	2–3	EU
eToro	Jumio	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Plus500	Jumio	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Capital.com	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Admirals	Sumsub	✓	✓	—	90d	✓	—	✓	Standard	2	EU
Swissquote	Manual + Video	✓	✓	—	60d	—	✓	—	Extensive	3	EU
XM	Digital	✓	✓	✓	180d	—	—	✓	Standard	2	EU
AvaTrade	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Tickmill	Sumsub	✓	✓	—	90d	✓	—	✓	Standard	2	EU
FP Markets	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
FXTM Surrendered its CySEC licence in 2024; no longer serves EU/EEA retail	Digital	✓	✓	—	90d	✓	—	✓	Standard	2	✗
Eightcap	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Forex.com	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	EU
ThinkMarkets	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
FxPro	Onfido	✓	✓	—	90d	✓	—	✓	Standard	2	EU
Fusion Markets No EU/EEA or UK licence; does not serve EU/EEA retail	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	✗
Vantage Not available to EU/EEA retail clients	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	✗
Markets.com	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Exness EU/EEA retail onboarding closed since 2019	Digital	✓	✓	—	90d	✓	—	✓	Standard	2	✗

PoA Age = maximum age of proof of address document in days. Selfie = liveness/biometric check required. eID = digital/electronic ID accepted. PEP = politically exposed person screening applied.

How Long Verification Takes

We do not rank brokers by approval time: brokers publish processing times inconsistently and we have not submitted applications to time them. The route a broker uses is the clearest guide. Edge cases (high-risk profiles, PEP flags, non-standard documents) take longer everywhere.

Automated eKYC18 brokers

Pepperstone IC Markets XTB IG OANDA eToro Plus500 Capital.com Admirals XM AvaTrade TickmillFP MarketsEightcap Forex.comThinkMarketsFxProMarkets.com

Document reading and liveness checks run through a third-party eKYC provider (Onfido, Sumsub, Jumio, iDenfy) or an in-house digital check. A clean application can be approved without waiting for a human reviewer; flagged cases still go to manual review.

Manual review3 brokers

Saxo Bank Interactive Brokers Swissquote

A compliance analyst reviews every application. Saxo Bank vets premium clients; Interactive Brokers adds CRS/FATCA self-certification and extensive AML checks; Swissquote operates under a Swiss FINMA banking licence and requires a video identification call. Expect these to take longer than automated routes.

Accepted ID Types

All EU-eligible brokers in this comparison accept passports and national ID cards. The key differentiator is driving licence acceptance.

Passport

21/21

Universal acceptance across all EU-eligible brokers. Passport is the safest ID to use if you are uncertain which documents a broker accepts.

National ID Card

21/21

Accepted by all EU-eligible brokers. EU/EEA national ID cards (with MRZ/chip) are generally accepted equivalently to passports.

Driving Licence

14/21

Not universally accepted. Brokers rejecting driving licences: XTB, Saxo Bank, Interactive Brokers, Admirals, Swissquote, Tickmill, FxPro. Use passport or national ID at these brokers.

Brokers that do NOT accept driving licences

✗XTB

✗Saxo Bank

✗Interactive Brokers

✗Admirals

✗Swissquote

✗Tickmill

✗FxPro

Use a passport or national ID card when applying to any of the above brokers.

Proof of Address Requirements

Proof of address (PoA) is the second required document for all EU-regulated forex brokers under AMLD5. The document must show your full legal name and current residential address.

What counts as proof of address?

Utility Bills

Electricity, gas, water, internet/broadband, landline telephone. Accepted by all 21 EU-eligible brokers. Mobile phone bills are generally NOT accepted.

Bank or Credit Card Statements

Paper or PDF statements from your bank. Must show your name and address — digital-only transaction histories without header address are typically rejected. Accepted by all 21 EU-eligible brokers.

Government Letters

Tax authority letters, council tax bills, voter registration, HMRC or equivalent. Accepted by most brokers — Plus500 does not accept government letters.

PoA maximum document age

60 days2 brokers

Saxo Bank, Swissquote — strictest window.

90 days18 brokers

Industry standard. Most EU-eligible brokers in this comparison.

180 days1 broker

XM — most lenient. 6-month-old bills accepted.

Practical tip

If your utility bills are older than 90 days, use a bank statement (these are issued monthly) or request a copy from your utility provider. XM (180 days) is the most flexible option if you have older documents.

Digital Verification Providers

19 of 21 EU-eligible brokers use third-party digital verification platforms (eKYC). These automate document reading, liveness detection, and identity matching, so clean applications do not wait for manual review.

Onfido

brokers

Pepperstone, IC Markets, IG, CMC Markets, OANDA, FP Markets, Eightcap, Forex.com, FxPro, Vantage

London-based. AI document verification + biometric liveness. Used by fintechs and brokers globally. Now part of Entrust.

Sumsub

brokers

BlackBull, Capital.com, Admirals, Tickmill, Fusion Markets

Full-cycle AML/KYC platform with transaction monitoring. Strong coverage across CIS, LatAm, and EU markets.

Jumio

brokers

eToro, Plus500

US-headquartered. Broad international document coverage. Used by eToro and Plus500 for retail onboarding.

iDenfy

broker

XTB

Lithuanian provider. Strong EU market focus. Used by XTB with optional video verification. Offers both AI-automated and human-assisted review.

Brokers with manual review only

Saxo Bank(Manual)

Interactive Brokers(Manual + Digital)

Swissquote(Manual + Video)

Manual review means a human compliance officer reviews your documents — more thorough but slower. These brokers tend to be premium or highly regulated institutions where depth of review reflects their client base.

Re-verification Triggers

KYC is not a one-time event. EU AMLD5 requires brokers to maintain up-to-date client verification and re-verify when material information changes.

Address Change

All brokers

Moving address always requires submitting a new proof of address. Submit it promptly after moving. Trading is typically not suspended during this process if you notify the broker promptly.

Account Dormancy

AvaTrade, BlackBull

No trading activity for 12+ months triggers re-verification upon reactivation. Common practice under AML rules (for example, the Irish CBI regime that covers AvaTrade's EU entity). Keep your contact details current even when not trading.

Regulatory / Periodic

IBKR, Swissquote, XTB, FxPro

Annual (XTB), FINMA-mandated (Swissquote), periodic CRS/FATCA (IBKR), or routine AML (FxPro, Admirals). Brokers will contact you with a request — respond within their stated deadline to avoid account restriction.

Deposit Threshold Re-verification (eToro)

eToro re-verifies clients when they reach certain cumulative deposit thresholds. This is a CySEC-specific enhanced due diligence requirement. If your deposits cross a threshold, you will receive a verification request before your next deposit is processed. Documents must be current and match your registered address.

Decision Framework by Trader Profile

Which broker is right for your onboarding priorities depends on your specific constraints.

FULLY DIGITAL

I want an automated sign-up

Priority: automated eKYC with no manual-review queue for a clean application. You have a passport and a recent utility bill.

PepperstoneOnfido, selfie

IC MarketsOnfido, selfie

IGOnfido, no selfie

PRIVACY-CONSCIOUS

No biometric/selfie if possible

You prefer not to submit biometric data. Document-only verification is your preference.

IGNo selfie, Onfido

XMNo selfie, digital check

Forex.comNo selfie, Onfido

FREQUENT RELOCATOR

Old documents / frequent address changes

You move often or have older utility bills. You need a lenient PoA policy and easy re-verification.

XM180-day PoA window

PepperstoneRe-verifies on address change only

Capital.comSumsub digital pipeline

BEGINNER

First forex account, guided experience

Straightforward onboarding with good support if the process hits a snag.

eToroJumio, clear process

Capital.comSumsub, intuitive UI

XTBiDenfy, video option, KNF regulated

PROFESSIONAL TRADER

Willing to pass deeper checks for better conditions

You can document source of funds, professional status, or net worth. Manual review is acceptable.

Interactive BrokersManual + digital, extensive AML

Saxo BankManual review, premium clients

SwissquoteVideo ID, FINMA, bank-grade

NON-EU RESIDENT

Trading with a non-EU broker entity

You live outside the EU/EEA and UK and want a fully digital onboarding. Note: ESMA protections do not apply.

PepperstoneSCB entity, Onfido

BlackBullFMA (NZ) / FSA (SC), Sumsub; not offered in India

IC MarketsASIC entity, Onfido

Pepperstone — Automated Onfido Verification

Onfido digital pipeline with liveness check. Passport, national ID, or driving licence accepted. 90-day PoA window. EU clients are served by Pepperstone EU Limited (CySEC).

Read full Pepperstone review

IG — Document-Only Onfido Verification

Onfido verification with no selfie required for standard accounts. Passport, national ID, or driving licence accepted. 90-day PoA window. BaFin (EU) and FCA (UK) regulated.

Read full IG review

Methodology

Data was collected by the FX-Brokers.info Markets Desk during May–June 2026 using the following methodology:

Published onboarding requirements: Each broker's account-opening and help-centre pages reviewed for document requirements, accepted ID types, and the verification provider named. No test account applications were submitted.
Regulatory filings: Published KYC policies, GDPR privacy notices, and broker terms of service reviewed for PoA age requirements, re-verification triggers, and PEP screening disclosure.
Verification timing: We do not publish approval times. Brokers state them inconsistently and we submitted no applications, so the matrix shows the verification route (automated eKYC provider or manual review) instead. Check the broker's own onboarding page for its current approval times.
Provider identification: Third-party eKYC provider identified from broker disclosures and published partner listings from Onfido, Sumsub, Jumio, and iDenfy.
Scope: 27 brokers surveyed. 21 EU/EEA-eligible. BlackBull, CMC Markets, FXTM, Fusion Markets, Vantage, Exness included for completeness but marked non-EU (not available to EU/EEA retail clients). Data accurate as of 2026-06-16; requirements may change.

Affiliate Disclosure

FX-Brokers.info earns referral fees from some brokers listed on this site when visitors click through and open accounts. This does not affect editorial independence. KYC data and broker assessments are determined by research methodology, not commercial relationships. Partner brokers are disclosed in our affiliate disclosure page.

Data Licence — CC BY 4.0

This dataset is published under the Creative Commons Attribution 4.0 International licence. You are free to share and adapt this data for any purpose, including commercially, provided you give appropriate credit.

FX-Brokers.info Markets Desk. "Forex Broker KYC/Onboarding Requirements Matrix — June 2026." fx-brokers.eu/research/broker-kyc-requirements. Published 2026-06-16. CC BY 4.0.

Download the full dataset as CSV using the link at the top of the matrix table.

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