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?

Verification speed varies significantly. Pepperstone, IG, IC Markets, OANDA, eToro, and Capital.com typically complete in under 1 hour using automated digital pipelines. BlackBull, Eightcap, and Fusion Markets complete within 4 hours. 18 of 27 brokers complete within 24 hours. Saxo Bank and Interactive Brokers take 1–3 business days due to manual review. Swissquote takes the longest at 2–5 days, including a mandatory video identification call per Swiss FINMA requirements.

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

20 of 27 brokers accept driving licences as primary ID. The 7 that do not — Saxo Bank, Interactive Brokers, XTB, Admirals, Tickmill, FxPro, and FXTM — 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?

20 of 27 EU-eligible brokers require a selfie or liveness check as part of digital verification. Brokers that do NOT require a selfie include IG, CMC Markets, Saxo Bank, Interactive Brokers, Swissquote, XM, and 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.eu Markets Desk
Published: 2026-06-16
License: https://creativecommons.org/licenses/by/4.0/

Accepted ID types, proof of address rules, verification speed, selfie requirements, and digital verification providers compared across 27 EU-accessible forex brokers. Know exactly what you need before you apply.

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

Key Findings — June 2026

Verify in < 4 hours

18/26

Accept Driving Licence

24/26

Accept eID / Digital

19/26

Require Selfie/Liveness

Quick summary: The vast majority of EU-eligible brokers complete KYC digitally within 24 hours. 9 brokers verify in under 4 hours (Pepperstone, BlackBull, IC Markets, IG, OANDA, eToro, Capital.com, Eightcap, Fusion Markets). Almost all require just 2 documents — a photo ID and proof of address dated within 90 days. Only Swissquote (2–5 days, FINMA video ID) and Interactive Brokers (1–3 days, extensive AML review) are meaningfully slower. Exness is excluded for EU residents — their EU/EEA onboarding has been closed since 2019.

Master KYC Requirements Matrix

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Broker	Speed	Time	Provider	Passport	Nat. ID	Drv. Lic.	PoA Age	Selfie	Video	eID	PEP	Min Docs	EU
Pepperstone	Fast	< 1 hour	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
BlackBull	Fast	< 4 hours	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
IC Markets	Fast	< 1 hour	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
XTB	Same Day	Same day	iDenfy	✓	✓	—	90d	✓	✓	✓	Standard	2	EU
IG	Fast	< 1 hour	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	EU
CMC Markets	Same Day	Same day	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	EU
Saxo Bank	Standard	1–3 days	Manual	✓	✓	—	60d	—	—	—	Standard	2	EU
OANDA	Fast	< 1 hour	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Interactive Brokers	Standard	1–3 days	Manual + Digital	✓	✓	—	90d	—	—	✓	Extensive	2–3	EU
eToro	Fast	< 1 hour	Jumio	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Plus500	Same Day	Same day	Jumio	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Capital.com	Fast	< 1 hour	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Admirals	Same Day	Same day	Sumsub	✓	✓	—	90d	✓	—	✓	Standard	2	EU
Swissquote	Slow	2–5 days	Manual + Video	✓	✓	—	60d	—	✓	—	Extensive	3	EU
XM	Same Day	Same day	Digital	✓	✓	✓	180d	—	—	✓	Standard	2	EU
AvaTrade	Same Day	Same day	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Tickmill	Same Day	Same day	Sumsub	✓	✓	—	90d	✓	—	✓	Standard	2	EU
FP Markets	Same Day	Same day	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
FXTM	Same Day	Same day	Digital	✓	✓	—	90d	✓	—	✓	Standard	2	EU
Eightcap	Fast	< 4 hours	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Forex.com	Same Day	Same day	Onfido	✓	✓	✓	90d	—	—	✓	Standard	2	EU
ThinkMarkets	Same Day	Same day	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
FxPro	Same Day	Same day	Onfido	✓	✓	—	90d	✓	—	✓	Standard	2	EU
Fusion Markets	Fast	< 4 hours	Sumsub	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Vantage	Same Day	Same day	Onfido	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Markets.com	Same Day	Same day	Digital	✓	✓	✓	90d	✓	—	✓	Standard	2	EU
Exness EU/EEA retail onboarding closed since 2019	Fast	< 1 hour	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.

Verification Speed Tier Ranking

Speed tiers based on typical approval time for a clean, complete application submitted during business hours. Edge cases (high-risk profiles, PEP flags, non-standard documents) will always take longer.

Fast — < 1 hour6 brokers

Pepperstone IC Markets IG OANDA eToro Capital.com

All use automated digital verification (Onfido, Sumsub, Jumio). Approval is largely AI-driven; human review only for flagged cases.

Fast — < 4 hours3 brokers

BlackBull Eightcap Fusion Markets

Digital pipelines with a light manual review layer for non-standard cases. Still same business morning/afternoon.

Same Day — < 24 hours14 brokers

XTB CMC Markets Plus500 Admirals XM AvaTrade Tickmill FP Markets FXTM Forex.com ThinkMarkets FxPro Vantage Markets.com

Applications submitted during business hours are typically approved the same day. Weekend or late submissions roll to the next business morning.

Standard — 1–3 business days2 brokers

Saxo Bank Interactive Brokers

Manual compliance review by trained KYC analysts. Saxo Bank: premium client vetting. Interactive Brokers: extensive CRS/FATCA self-certification and AML checks, especially for non-standard profiles.

Slow — 2–5 days1 broker

Swissquote

Swissquote operates under Swiss FINMA banking licence — the most demanding EU-adjacent regulatory framework. Video identification call is mandatory. 3 documents required. The longer process reflects genuine bank-grade compliance and the corresponding asset safety benefits.

Accepted ID Types

All EU-regulated brokers accept passports and national ID cards. The key differentiator is driving licence acceptance.

Passport

26/26

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

26/26

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

Driving Licence

18/26

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

Brokers that do NOT accept driving licences

✗XTB

✗Saxo Bank

✗Interactive Brokers

✗Admirals

✗Swissquote

✗Tickmill

✗FXTM

✗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 26 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 26 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 days23 brokers

Industry standard. Most EU 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

24 of 26 EU-eligible brokers use third-party digital verification platforms (eKYC). These automate document reading, liveness detection, and identity matching — dramatically cutting approval times compared to 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. Acquired by Entrust in 2023.

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. Strong document coverage (200+ countries). Used by eToro and Plus500 for global 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 within 30 days of 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 Irish CBI and other national AML supervisors. 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.

SPEED-FOCUSED

I want to trade today

Priority: fastest possible verification. You have a passport, a recent utility bill, and want to be funded within the hour.

PepperstoneOnfido, < 1hr, selfie

IC MarketsOnfido, < 1hr, selfie

IGOnfido, < 1hr, no selfie

PRIVACY-CONSCIOUS

No biometric/selfie if possible

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

IGNo selfie, < 1hr

CMC MarketsNo selfie, same day

Forex.comNo selfie, same day

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, same day

PepperstoneAddress change only, fast re-KYC

Capital.comSumsub, fast pipeline

BEGINNER

First forex account, guided experience

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

eToroJumio, < 1hr, clear process

Capital.comSumsub, < 1hr, 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, 1–3 days, premium clients

SwissquoteVideo ID, FINMA, bank-grade

NON-EU RESIDENT

Trading with a non-EU broker entity

You are outside the EU/EEA and want the fastest onboarding. Note: fewer ESMA protections apply.

PepperstoneSCB entity, Onfido, < 1hr

BlackBullFMA (NZ), Sumsub, < 4hr

IC MarketsASIC entity, Onfido, < 1hr

Pepperstone — Fastest Verification (< 1 hour)

Onfido digital pipeline with liveness check. Passport, national ID, or driving licence accepted. 90-day PoA window. EU clients via FCA/BaFin regulated entity.

Read full Pepperstone review

BlackBull — Fast Sumsub Verification

Sumsub AI verification, typically under 4 hours. All three ID types accepted. 90-day PoA window. FMA (NZ) regulated.

Read full BlackBull review

Methodology

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

Direct application review: Test account applications submitted through each broker's live onboarding flow to record exact document requirements, accepted ID types, and the verification provider used (identifiable from redirect URLs and in-app metadata).
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: Test submissions made during standard EU business hours (09:00–17:00 CET). Times recorded to first approval email/notification. Results represent clean-profile applications; complex cases (PEP matches, inconsistent addresses, document quality issues) will take longer.
Provider identification: Third-party eKYC provider identified via network inspection of onboarding redirect flows and published partner listings from Onfido, Sumsub, Jumio, and iDenfy.
Scope: 27 brokers surveyed. 26 EU/EEA-eligible. Exness included for completeness but marked non-EU (onboarding closed 2019). Data accurate as of 2026-06-16; requirements may change.

Affiliate Disclosure

FX-Brokers.eu 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, speed rankings, 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.eu 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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