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Questions and StoriesCategory: QuestionsWhy Do Forex Brokers Ask People Whether They Are Politically Exposed Persons During Registration?
Vicaris asked 1 week ago

Why Do Forex Brokers Ask People Whether They Are Politically Exposed Persons During Registration?

That question usually pops up during registration. I would like to know why.

8 Answers
Best Answer
Vahid Chaychi Staff answered 1 week ago

They don’t offer their services to politicians. They are afraid of the problems it can have for them.

Birembero4 answered 1 week ago

 
Politically exposed persons may not be accepted to be registered since some military dictators may instruct their bank governors to give orders to banks not to give  any money the exposed person has ln bank.This means they are not allowed  to do forex trading.

Edward Duffy answered 1 week ago

It may have something to do with laws in the country of operation as I do not remember seeing this when I signed up with my broker.

Male answered 1 week ago

It maybe to warn the politician of money laundry.  

gwhite2203 answered 2 days ago

A lot of the time it is also related to a form of insider trading. For example if you were privvy to news on a country going into a severe lockdown wouldn’t you sell the currency just before it was announced to the market!!

jeankomaro answered 2 days ago

The fear of having problems and expose to the laws

Vicaris answered 2 days ago

At some point, I thought the reason was that politicians have great advantage of success over  non-politicians

fdk191503 answered 2 days ago

As long as I can remember, I never asked those questions when I joined two forex brokers. Does the forex broker start to ask this question just recently?

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