Broker wants my criminal record?

Hi all,

I’m trying to sign up to a broker (HotForex), but they’re asking me for my ID, proof of address and my criminal record. This seemed a bit fishy to me and I haven’t uploaded anything yet, but is this a common thing for brokers to ask? I don’t have a criminal record so it’d be annoying for me to get as well

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id and address is applicable always :ok_hand:

Criminal record? What is this a job application for some security firm?? Although I suppose a security firm would already have your criminal records. That’s such a strange thing to ask for, I’ve never heard of it! :scream:

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It might be illegal in your state or country for the broker to ask for records of any criminal convictions a prospective client might have. If it is legal, some convictions will not have to be declared because after a certain amount of time they become “spent”.

If you can find out the broker is acting illegally or they are acting legally but in a discriminatory way, I am pretty sure that would mean you don’t want to do business with them anyway. So why not just find another broker?

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Its not normal procedure.

They just need to verify your identity and residential address.

Knowing whether you have any criminal convictions or not doesn’t help them do that.

A bank doesn’t ask for this when you open a current account.

I don’t know why they are asking for such a thing.

Don’t give them. They need your money and business, not the other way around. No broker has ever asked me for that, not even Forexchief or IB. If you are not comfortable giving such info, walk away. There are a few other decent brokers to use.

Ask for their criminal record (b/c you know they’ve stolen pips from people before). If they don’t comply, find a diff broker-- pretty simple answer man…



So true, they are taking and holding your money.

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This is absolutely not what is required. All they need is a valid ID and Address Proof.No broker ever demands such proof. I would not rate him as trustworthy. I’ve worked with XTB, Coinexx or Plus 500 brokers and they never asked for such details.I would advise you to search for such brokers. I am sure you shall find them. Good Luck in your search.

Demand to see copies of their non compliance records… before you hand any funds over… :rofl: :rofl:

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It is just for the verification process.

first time i experienced this type of verification question , sounds strange really , but i dont think so its necessary for any kind of broker , because how they check your criminal record accurately , they are not us or uk embassy that can monitor everything. they just a financial company.

So what’s their policy if you cannot/ will not provide your criminal record? Will they charge higher commission?

That’s something unheard of. Criminal record? Why? ID and address proof yes, all brokers need that information to create your account, but that’s about it. Go for Fxview or FXCM I would say, at least you’ll know what you are getting into.

yeah better change broker mate :wink:

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Draft a new document. Label it “[Your name ]- Criminal Record”. Add the date. New line. Add a heading for “Detail Records: 0”.

Add you name and signature.


Most of the brokers require ID proof and address proof but I haven’t heard of any broker asking for criminal record. You can use some other broker

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I’m not sure why they’re requesting such a thing.