What if I give my broker a fake Address?

[TheNewbieTrader]

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?

They may ask for supporting evidence, could send you a letter in the post to prove that you live there. They have sneaky ways. Then if you can't prove it, they will lock your account and you won't be able to withdraw.

 

[davtrent55]

Not worth the risk imo

 

[ele020]

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?

I dont think your broker will verify your account with fake proofs. Mostly regulated brokers have proper system to check the authenticity of documents. its better you use a broker that accepts your country.

 

[Pharaoh]

Don't listen to anyone who says to use a broker that doesn't verify who and where you are.

Yes, there are some brokers like that. Those brokers are more than happy to pretend they never require ID, at least until a profitable trader decides to withdraw too much. Then (assuming they don't skip ahead to telling you about fake taxes and fees you must pay to withdraw your funds) there will be something suspicious about your account and you'll be faced with the need for far more extensive paperwork than any normal, regulated broker would require.

My best suggest, even with a very well regulated broker, is to never deposit one cent until you've met all the AML and KYC identity verification requirements. If you are worried the broker will misuse your ID, ask yourself why you are willing to trust such an untrustworthy broker with your money.

The ONLY time to use fake info with a broker is when you want to open a demo account and not be harassed. Make a special email account just for this and also get a separate phone number (VOIP is fine). Then you can play in the demos of as many brokers as you like and just never answer any calls where they will promise you unlimited profits, if only you will deposit today.

 

[Gazel]

Here everything depends on your broker and only. You have to make a research of the agreement conditions between you and your broker. This information can be found directly on a broker's site. Of course, there is a risk to be banned or (if you're lucky) lose your funds. It depends mainly on your broker's regulator. I know that some actions can be considered as illegal for real, however I don't know which conditions do your broker offer, maybe there will be some restrictions in relation to your account. Guess that you'd probably better change the broker in order to prevent bad consequences and money loss.

 

[Kittisak_Pro]

I heard that reliable brokers are obliged to follow KYC and AML rules, and if broker says you can earn millions and withdraw without any kind of verification, it looks suspicious for me

 

[Vinfred]

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?

Jail is impossible variant but permanent ban is possible. All your funds will be at risk. I cannot recommend doing that bro

 

[Keithstyles1]

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?

Wouldn’t advise giving false information

 

[HeavenLeighRob]

I’d be worried about having issues with withdrawals, although you could probably get away with it if you provided good enough fake documents.
Another option would be to go with another broker or to find one that’s more relaxed about documentation.

 

[pashaev]

If false data comes up during verification, the broker may not issue the funds.