Web Trader MT5
The set of identity checks a regulated financial firm must run before letting you trade, deposit, or withdraw. Know Your Customer rules exist to stop money laundering, terrorist financing, fraud, and sanctions evasion, and they are why a broker or crypto exchange asks for your passport, proof of address, and sometimes a live selfie before your account goes fully active. The requirement flows from anti-money-laundering law and, for many firms, from banking partners who will not touch a business that cannot show who its customers are.
For the user it is friction, occasionally a lot of it, and a real privacy trade-off. For the institution it is a regulatory requirement; skip it and the fines, or the loss of a banking relationship, can be existential. KYC usually pairs with ongoing monitoring, so an account flagged for unusual activity may be subject to additional verification.
Example: A new trader signs up with an FX broker and funds the account, then finds her withdrawal is restricted until she completes KYC by uploading a government ID and a recent utility bill so the firm can confirm her name and address match the account.
