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Questions and StoriesCategory: QuestionsWhy Do Forex Brokers Ask People Whether They Are Politically Exposed Persons During Registration?
Nnaemeka Victor asked 3 months ago
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17 Answers
Best Answer
Vahid Chaychi Staff answered 3 months ago

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

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Eli Davis Keinamura answered 3 months 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.

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Edward Duffy answered 3 months 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.

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Male answered 3 months ago

It maybe to warn the politician of money laundry.

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Gareth White answered 3 months 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!!

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Leno Jean Pierre answered 3 months ago

The fear of having problems and expose to the laws

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Nnaemeka Victor answered 3 months ago

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

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Ahmad Khasan answered 3 months 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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Jackson Mugarura answered 3 months ago

Definitely, politics has a direct bearing on currency and stock markets. I guess they want to assess, if there could be any risks

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Kenneth Ogbonnaya answered 3 months ago

My broker doesn’t ask such.

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Leno Jean Pierre answered 3 months ago

Brokers are afraid of politicians, they can expose them to laws and put them into trouble. So they avoid all those things.

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Nnaemeka Victor answered 3 months ago

HI KENNY4REALITY, WHICH BROKER DO YOU USE? I THOUGHT ALL BROKERS ASK THAT SAME QUESTION

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Gareth White answered 3 months ago

Could be they know politicians are liars so cant trust the information they provide and that they are not trustworthy so don’t want to associate with them.

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Jackson Mugarura answered 3 months ago

I guess it’s a general question among many other questions, because there could be many others that are also connected to other economic and social status of the Applicant.

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Gareth White answered 3 months ago

Yes that is true Jackson

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Kenneth Ogbonnaya answered 3 months ago

My broker doesn’t ask such questions during registration.

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Leno Jean Pierre answered 3 months ago

They didn’t request me this question during my registration. I don’t know why they ask this question.

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