No KYC Forex Brokers - Anonymous Forex Trading With No Documents Required

Anonymous Forex Trading

If you want to trade forex without giving your personal information to your forex broker, the options are very limited. While in most situation people don't have a problem with sharing their information with their broker in order to trade with regulated companies and have a higher degree of protection, some people value their privacy more and want to trade anonymously. There are situations where anonymity has some advantages, and in this article we will show you which forex brokers allow you to trade anonymously.

No KYC Forex Brokers

In order to trade forex anonymously, the forex broker must accept traders and allow them to trade without doing the infamous due diligence also known as "Know Your Customer" or simply KYC. Most brokers are forced to do a detailed KYC process because of regulation or because most payment providers will not allow them to accept payments from anonymous sources.

Fortunately, with cryptocurrencies such as Bitcoin, brokers can now accept payments without having to deal with a payment provider. This means that by working via Bitcoin or other Cryptocurrency, a forex broker can receive deposits and process withdrawals without being forced to do excessive paperwork by the payment provider. This opportunity has created a small niche for forex brokers with no KYC requirements that will allow anyone to trade by providing only an email address.

Currently, we are aware of the following forex brokers requiring no documents and no KYC for clients who deposit via Bitcoin:

1) Eagle FX

2) Prime XBT

Forex Brokers With No Verification And No Documents Required

There are some pros and some cons when using a forex broker that has no verification requirement and will not request documents from you before allowing you to trade.

Advantages:

- Ultra fast set-up of the account. You can trade immediately.

- No risk of identity theft. Your identity and documents are not exposed to an offshore third party.

- No country restrictions. You can trade with an unregulated broker that offers high leverage no matter what country you are from and what are your local restrictions.

- Anonymous earnings. If you earn money by trading forex anonymously, nobody will know about your winnings.

Disadvantages:

- A forex broker that allows its clients to trade without a KYC process will never be regulated. This means that you must use an unregulated broker if you want to remain anonymous.

- Generally, there is less protection for your funds when dealing with an unregulated broker, but this doesn't mean the broker cannot be good. It is recommended to never keep funds in excess on your trading account. Since Bitcoin deposits and withdrawals are very fast, you can keep your account funded only with the amount needed for day to day trading. Anonymous forex brokers offer high leverage, and this greatly reduces your capital requirements.

 

Risk warning: Forex, CFD and Crypto trading involves the risk of losing the entire invested capital. Never invest money you cannot afford to lose.

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