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Questions and StoriesCategory: QuestionsWhy Do Forex Brokers Ask People Whether They Are Politically Exposed Persons During Registration?
Nnaemeka Victor asked 2 weeks 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.

12 Answers
Best Answer
Vahid Chaychi Staff answered 2 weeks ago

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

Birembero4 answered 2 weeks 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 2 weeks 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 2 weeks ago

It maybe to warn the politician of money laundry.  

Gareth White answered 1 week 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!!

Leno Jean Pierre answered 1 week ago

The fear of having problems and expose to the laws

Nnaemeka Victor answered 1 week ago

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

Ahmad Khasan answered 1 week 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?

Jackson Mugarura answered 3 days ago

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

kenndy4reality answered 3 days ago

My broker doesn’t ask such. 

Leno Jean Pierre answered 2 days ago

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

Nnaemeka Victor answered 1 hour ago

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

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