TRADING GLOSSARY
Know your customer
Know your customer (KYC) is the process financial firms use to identify customers and verify their identities. It may include collecting information about a customer's circumstances and account purpose, with requirements varying by jurisdiction.
EXAMPLE
For example, a financial firm may ask a new customer for an identity document and proof of address before completing account verification.
RELATED TERMS
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Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Glossary definitions are general education only and are not investment advice. Risk disclosure