KYC for Brokers

Onboard more traders, globally

Welcome more clients with an all-in-one verification platform. Comply with regulations, safeguard reputation with payment partners, and steer clear of fraud with ease.

Get more customers

Don’t lose applicants because of long wait times

Stay compliant

Сomply with regulatory authorities (FCA, CySEC etc.)

Scale globally

Enter new markets around the world, from Indonesia to Nigeria

KYC compliance for trading and investment

DMA/CFD brokerage companies
Investment funds & marketplaces
Meet your regulator’s requirements

Verify IDs and proof of address, request source of funds for risky clients via questionnaires, and perform ongoing AML screening against 1000+ global watchlists, 100+sanctions lists, PEPs lists, and adverse media. Our in-house legal team will help you ensure full compliance

Get more users at less cost

Get clients verified in less than a minute thanks to automated user verification flows. Our clients have been able to eliminate human error and reduce the cost of KYC/AML by 40%

Go global with highest pass rates

Reach maximum pass rates for clients through the globe, including LATAM, South Asia and Africa. Any region, any scale—our legal experts will show you how to verify clients fast and properly

Steer clear of fraud

Completely safeguard your business and customers at every turn with Sumsub’s AI-powered anti-fraud technology. Deter even the most sophisticated fraud attack vectors regardless of their target: identity, documents, transactions, attempted money laundering, and others.

Secure every step of the customer journey

Place verification checks where and when you need them most for top conversion rates and security, code-free.

Onboarding Orchestration

Sign Up

  • Email Risk Assessment
  • Phone Risk Assessment
  • Device Intelligence

User
Verification

  • ID Verification
  • Address Verification
  • Liveness and Face match
  • Live Agent Video Call
  • Doc-free Verification
  • Public Digital Identity Systems
  • QES/eIDAS (coming soon)
  • NFC
  • Known Face Search
  • Blocklist Check
  • Duplicate Check

AML
Screening

  • PEP + Sanctions
  • Adverse Media

Ongoing Monitoring

Login

  • Device Intelligence
  • Behavioral Fraud Detection
  • Face Authentication
  • MFA

Fraud
Monitoring

  • Device Intelligence
  • Behavioral Fraud Detection
  • Face Authentication
  • Ongoing AML Monitoring

Transactions

  • AML Transaction Monitoring
  • Bank Account Verification
  • Fraud Transaction Monitoring
  • Behavioral Fraud Detection

Automate verification steps to fit your AML policy

Build multiple verification workflows according to user risk profiles, automatically run extra checks based on applicant actions, and set up triggers for manual case review. All without writing a single line of code.

Automate verification steps to fit your AML policy

Easy integration that can take just 1 hour

Integrate the services you need via our Web and Mobile SDK (or RESTful API) without worrying about interruptions with 99.996% uptime

iOSAndroidFlutterCordovaReact

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Here’s what our clients have to say

Choosing Sumsub was one of our best decisions. There are very few tech solutions in the market with such a vast amount of features and proposals. And what is even more important - they grow and improve every year, always try to be up-to-date

Yulia Rasnitsova

Product Manager at Libertex

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FAQ

  • What is required of a broker-dealers AML program?

    Companies from the trade finance sphere are often subject to AML regulations in order to combat financial crimes. The list of such companies may include wealthtech and investment funds, DMA/CFD brokerage companies, crowdfunding and investment marketplaces. Their AML compliance programs usually include know your customer (KYC) procedures and CDD procedures. The standard KYC for broker dealers includes ID and proof of address verification, AML screening and ongoing monitoring, as well as source of funds verification for risky clients.

  • What is KYC in forex?

    KYC stands for Know Your Customer. It means verification of client identities during onboarding. Under Anti-Money Laundering (AML) obligations, trading companies must conduct KYC to ensure that their customers are trusted individuals. To conduct verification fast and properly, such companies often use specialized KYC solutions for forex brokers.

  • How are forex brokers regulated?

    To comply with AML/CTF regulations, forex platforms need to enact policies and procedures that combat all forms of financial crime. The AML process for forex brokers includes setting up adequate internal systems for spotting suspicious activities and reporting them to authorities. In addition, robust Customer Due Diligence (CDD) and Know Your Customer (KYC) procedures should be applied to verify customers and take precautions against money laundering and terrorist financing risks.

  • Who regulates FX?

    As FX trading is a global activity, there isn’t one set of regulations that applies to all forex platforms. Instead, there are multiple types of regulations, which vary depending on the jurisdiction where forex platforms operate. So, KYC/AML requirements for forex platforms depend on the regulatory body in each particular country, e.g. FCA in the UK or CySEC in Cyprus.