WikiFX

Sagot

Based on my experience with regulated brokers such as First Shanghai, especially those overseen by authorities like Hong Kong’s Securities and Futures Commission (SFC), the initial withdrawal process typically involves robust identity verification. Although the broker’s publicly available information doesn’t list every specific document required for withdrawal, I know from years in the industry that regulated companies must comply strictly with anti-money laundering (AML) and know-your-customer (KYC) standards. Whenever I set up my accounts at similar SFC-regulated institutions, I was required to submit government-issued photo identification, such as a passport or Hong Kong ID card, and recent proof of address, for example a bank statement or utility bill dated within the last three months. These documents confirm both my identity and address, helping reduce the risk of fraud or unauthorized transactions. Additionally, brokers sometimes request bank account details that match the name on the trading account for payout purposes. I’m always careful to have these documents ready and to verify directly with customer support before attempting my first withdrawal. This extra step ensures I don’t encounter unexpected delays and that my funds’ security is maintained, as required under SFC regulation. For me, clear compliance with these standards is a sign of a broker’s legitimacy and commitment to client safety.