What if I give my broker a fake Address?

[JimmyRozza]

Hello everyone
The suitable broker I trust does not work in my country
I am asking what is the consequences of giving the broker a fake address and a fake utility bill as a proof.
It is a lie not intended to harm any one
I will be giving my real identity ,of course, to be able to withdraw.
what if the hole thing is discovered? Is it regarded a counterfeiting? Will it lead to jail? Will the account be expropriated?

Seems like a silly thing to be doing IMO... You will be risking your capital.
There are plenty of other options out there, all with their own set of risks.
Which country are you based in if you don't mind me asking?

 

[Androlen]

The most obvious answer to your question is that your trading account will be banned. I am not sure whether this broker will return you the funds, but perhaps the most widespread reason for the ban of a trading account is writing false information. It mainly happens because of the fact that most of the brokers are regulated and the brokers don't want to lose the regulation because of the fact that it will do lots of harm to their reputation. That is why the brokerages pay much attention to the verification of the traders who work with them.
I feel that you should look for some decent broker which can work with you legally. Wherever you are I bet that there is at least one broker which can offer you good trading conditions and competitive charges. It is much better to find a broker which will charge you a bit more than to be banned and wait for the money to reach your payment method and hope for the best.

 

[Luke_D]

That is probably not the good idea to do that, and I honestly do not recommend you to do that.

 

[Regalm_]

I'd suggest not to indulge in such activities that will lead you to capital loss.

 

[JoJozil]

Giving your broker a fake a dress puts your trading account at risk of getting banned.
It should understood that the brokers don't work in some countries not because of their personal wishes, but because of some regulations which they don't want to violate. All the decent brokers want to keep a good reputation in order to attract more and more traders, that is why they definetely don't need any scandals with local authorities. They are very attentive about the traders that they work with, that is why providing your broker with fake information is an ultimately bad idea.
I doubt that it is impossible to find a decent broker with good trading conditions in your region. Do more surveys and you'll definetely find an honest broker which will not take the major part of your profits. Trading forums are full of discussions concerning the brokers which work is several areas, so analyze them carefully and choose the best one.

 

[liability]

You are literally asking to get banned if you do that. Please don't consider that. Like the one above me said, if your broker is not offering services to you, try to look for other broker.

 

[forexinmind]

If your trading needs are not getting fulfilled with your current broker, it's better to look for another broker rather than going for such false practices.

 

[yordan10Xz]

Most brokers I know demand documents that confirm your residence so this probably won't work. Besides, that's just plain risky: what if you get blocked? You'll probably get your fundings back but doubt about the profits.

 

[Fenrilrajas]

Your trading account can be banned if you provide your broker with the fake information. Sooner or later the broker will learn your real information and your account will be blocked. The brokers do ban the trading accounts which violate the rules because there is no broker which wants to lose its regulation or have some other problems. So, you'd better find another broker which works in your region.

 

[tomhiggs]

I can never think of this as here money is involved!