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How automated compliance software helps forex brokers verify client identities, screen for sanctions, prevent money laundering, and meet regulatory requirements—while reducing onboarding time from days to minutes.
The process of verifying a client's identity before allowing them to open an account and trade. Includes collecting identification documents, proof of address, and assessing financial suitability. Required by all major regulators.
The set of policies, procedures, and systems designed to detect and prevent money laundering through trading accounts. Includes transaction monitoring, sanctions screening, suspicious activity reporting, and PEP checks.
For forex brokers, KYC and AML compliance is not optional—it's a legal requirement enforced by regulators worldwide. CySEC, FCA, ASIC, DFSA, and even offshore regulators like the FSA Seychelles all mandate that brokers implement robust client identification and anti-money laundering programs.
Non-compliance carries severe consequences: regulatory fines (often in the millions), license revocation, criminal liability for compliance officers, and reputational damage that can destroy a brokerage overnight. The right compliance software transforms KYC/AML from a costly burden into an automated, efficient process that actually improves the client experience.
The capabilities your compliance software must have to meet regulatory requirements and deliver a smooth onboarding experience.
Automated extraction and validation of identity documents using OCR and AI. Supports passports, national IDs, and driver's licenses from 190+ countries.
Automated validation of proof of address documents including utility bills, bank statements, and government correspondence with date and address extraction.
Automatic screening of clients against global sanctions lists, PEP databases, and adverse media sources. Continuous monitoring with real-time alerts on status changes.
Secure storage and management of all client documents with full audit trail logging. Essential for regulatory audits and demonstrating compliance.
Configurable questionnaires that assess client trading experience, financial knowledge, and risk tolerance. Required by CySEC, FCA, and ASIC for retail client classification.
Automated monitoring of deposits, withdrawals, and trading patterns to detect suspicious activity. Rule-based alerts flag unusual behavior for compliance review.
Different regulators have varying requirements. Your compliance software should be configurable to meet each jurisdiction's standards.
| Regulator | ID Verification | Proof of Address | Suitability Test | Sanctions Screening | Ongoing Monitoring |
|---|---|---|---|---|---|
| CySEC (Cyprus) | Required | Required | Required | Required | Required |
| FCA (UK) | Required | Required | Required | Required | Required |
| ASIC (Australia) | Required | Required | Required | Required | Required |
| DFSA (Dubai) | Required | Required | Required | Required | Required |
| FSA Seychelles | Required | Required | Recommended | Required | Recommended |
| VFSC (Vanuatu) | Required | Required | Recommended | Recommended | Basic |
Brokeret's Forex CRM includes comprehensive KYC and AML compliance tools as standard features—not bolted-on extras. Document upload and verification, configurable approval workflows, sanctions screening integration, risk profiling questionnaires, and full audit trail logging are all managed from the same back office where you handle client accounts, deposits, and IB management.
The platform integrates with leading verification providers including SumSub and Jumio for automated identity checks, while maintaining the flexibility to configure compliance workflows for any regulatory jurisdiction—whether CySEC, FCA, DFSA, or offshore regulators.
Explore Brokeret's Compliance FeaturesBrokeret's built-in KYC and AML tools help you onboard clients faster, stay compliant, and pass regulatory audits with confidence.