You opened an offshore forex account, but you are stuck on identity verification (KYC) and do not know what to submit.
In short: submit two documents, proof of identity and proof of address. Enter your details exactly as they appear on the documents, and upload images where all four corners are readable. This guide uses the procedures of the 10 brokers listed on this site (data we verified) and the official FAQs of HFM and XMTrading (checked on 20 October 2026).
After reading, you will know how to prepare before submitting and how to fix a rejection.
Conclusion: match your two documents and your registered details exactly
The official procedures of the 10 listed brokers follow almost the same flow: register, fill in your profile, then submit documents. What differs is which documents are accepted and how long the review takes.
The sections below give only what we could confirm on official pages, with broker names.
- Two document types: proof of identity, and proof of address showing your current address
- Enter your name, date of birth and address in the same format as on the documents
- All four corners and all text must be readable. Blurry or cropped images lead to resubmission
- Accepted documents differ by broker. Follow the instructions on the application screen
- Deposits, withdrawals and bonuses may be blocked until verification is complete. Do it right after opening the account
What is KYC at an offshore forex broker, and why is it required?
KYC stands for Know Your Customer. The broker checks that the person opening the account is who they say they are, and that the account holder name and address are correct.
Brokers ask for it to prevent money laundering (disguising money obtained through crime) and to confirm the account holder name. Offshore brokers operate under the rules of their own base jurisdictions.
Note: verification is a precondition for deposits and withdrawals, not just a hassle. The official HFM FAQ says a deposit is credited to the account only after the documents are approved. Some brokers also make withdrawals conditional on verification status. Do it first rather than putting it off.
Proof of identity vs proof of address
The two documents confirm different things. One document may not serve as both, so prepare them separately.
Proof of address is a document that shows your name and current address. Some brokers also require that it was issued recently. This summary of common points comes from data verified on this site (official sources for each broker; check dates are on each broker page).
- Proof of identity (identity document): confirms who you are, such as name and date of birth. Use a valid document specified on the application screen, and one that has not expired
- Proof of address: confirms your name and current address. Use an official document, bill or statement showing your current address, and make it match the address you registered
Required documents: examples from brokers confirmed on official pages
We list specific document names only for brokers confirmed on official pages (HFM official FAQ in English and XMTrading official Help Centre, both checked on 20 October 2026). For brokers not listed here, follow the instructions on the application screen.
Key point: HFM states that the name must match. The official HFM FAQ says the name on the proof of identity and the name on the proof of address must be the same. The XMTrading Help Centre also requires that the proof of identity shows details such as name, issue date and expiry date.
Axi: the official Help Centre says it accepts only government-issued documents with a photo (passport, national ID, driving licence and so on, as summarised in the account opening column on this site). A driving licence must be photographed on both sides.
XS: the official Help Centre lists a driving licence, ID card, passport and residence permit as examples of identity documents. For proof of address, follow the application screen.
For more detail, see the column on Axi account opening and verification, and the column on XS required documents and account opening, both on this site.
- HFM proof of identity: colour copy of a passport (PDF or JPG). If you do not have one, a photo ID (national ID card or driving licence)
- HFM proof of address: bank statement or utility bill, issued within 6 months, with name and address readable
- XMTrading proof of identity: colour copy of a document issued by a public authority (passport, driving licence, ID card). A selfie is also required
- XMTrading proof of address: utility bill (electricity, gas, water, telephone, internet, cable TV) or bank statement, within the past 3 months
How to submit verification: 5 steps
The details differ by broker, but the outline is the same across the 10 listed brokers. Here is the common flow.
Note: the way to submit differs by broker. With XMTrading, you start from "Verify account" in the portal or app, and live photo capture and a selfie are required. With HFM, you can upload directly from the member area (myHF), and sending by email is also offered. Follow the actual on-screen instructions.
For the full path from account opening to your first trade, see the guide on the 6 steps to start offshore forex trading.
- Step 1, prepare documents: have your proof of identity and proof of address at hand. Check the expiry date and issue date first
- Step 2, register an account: enter your email address and verify it with a confirmation code. Some brokers also verify your phone number
- Step 3, fill in your profile: enter your name, date of birth and address exactly as on the documents. Use the same script (Latin letters or Japanese characters) throughout
- Step 4, upload images of the documents: follow the instructions in the client area. Submit images where all four corners and the text are readable
- Step 5, wait for approval: check the approval notice or the status on screen. Make your deposit after approval
How long does verification take?
Review time is described differently by each broker, and some brokers give no figure on their official pages. We do not state a general market average. We list only the brokers we could confirm.
The times in the list are guides given by the brokers themselves, not guarantees. They can vary with the condition of your documents and how busy the broker is.
Sources: each broker's official statement (HFM checked on 20 October 2026; DecodeFX follows the summary in this site's withdrawal column).
- HFM: the KYC team reviews documents within 48 hours. The deposit is credited to the account after approval
- DecodeFX: the official Japanese site says the account opening review usually takes within 24 hours. Handling on weekends and public holidays is not stated on the official site
- XS: no separate review time for residents of Japan is stated on the official site
- Other brokers: check the application screen and the client area display
Why verification fails or is rejected, and how to fix it
Most rejections come from mismatched details and image quality, not from the documents themselves. The reason appears in the client area or by email, so check there first.
This summary is based on the official procedures of the 10 listed brokers (data verified on this site) and the guidance from HFM, XMTrading and Axi.
- Cause: registered details differ from the documents. Fix: re-enter name, date of birth and address exactly as on the documents. Do not mix Latin letters and Japanese characters
- Cause: corners are cut off or the image is blurry. Fix: retake the whole document on a flat surface and check that all four corners and the text are readable
- Cause: the document has expired. Fix: switch to another document that is still valid
- Cause: the proof of address does not meet the type or date rule. Fix: check the official rule (HFM within 6 months, XMTrading within 3 months) and submit a newer document
- Cause: the name differs between proof of identity and proof of address. Fix: if your surname changed, for example after marriage, find documents that match or ask support
- Cause: the back side was not photographed. Fix: for a driving licence or ID card, photograph both sides as the broker instructs (Axi requires both sides)
- Before submitting, place your registered details next to the documents and compare them character by character
- If you use a phone camera, choose a bright place without shadows or glare
- If it still fails, note the rejection reason and contact support
What happens if verification is incomplete: deposits, withdrawals and bonuses
If you leave verification unfinished, deposits may not be credited, and withdrawals or bonuses may be blocked. The restrictions differ by broker.
Note: finishing early avoids trouble at withdrawal. Incomplete verification is one basic reason a withdrawal cannot be made. Submit right after opening the account, and check until the approved status appears.
For more, see the column on why withdrawals fail at offshore forex brokers (verification, account holder name and more) and the guide on how bonuses work and their conditions, both on this site.
- HFM: a deposit is credited after the documents are approved and myHF is fully verified (official FAQ)
- HFM: the withdrawal terms PDF lists documents not submitted and no response within 7 days as a reason a withdrawal request is cancelled
- Axi: verification is due within 28 days of opening the account. Until it is complete, deposits are capped (up to 5,000 USD) (official Help Centre)
- Bonus: the HFM 100% deposit bonus requires completed account verification
- Bonus: the XS account opening bonus of JPY 5,000 is also granted once verification is complete
After verification: choosing a broker and depositing
Once you are approved, you can move on to your deposit. Make sure the name of the sender of the deposit matches the registered account holder name. Avoid third-party names.
If you have not chosen a broker yet, compare before opening an account to avoid doing the work twice, because verification is needed for each broker.
For the DecodeFX flow, see the column on DecodeFX account opening steps and the review flow on this site. To compare listed brokers on the same items, see the broker list.
- DecodeFX account opening: registration, verification, account type, then deposit
- Monaxa, INFINOX and AXIORY have account opening guides in the same format
Frequently asked questions
Q. How long does forex broker KYC verification take?
A. It depends on the broker. HFM says within 48 hours, and DecodeFX says usually within 24 hours on its official Japanese site. Some brokers, such as XS, give no time for residents of Japan on their official sites. These are guides, not guarantees.
Q. What documents do forex brokers ask for?
A. Two documents are the basic requirement: proof of identity and proof of address. The official HFM FAQ lists a passport (or a national ID card or driving licence if you have none) plus a bank statement or utility bill. For other brokers, follow the instructions on the application screen.
Q. What can I use as proof of address for a forex account?
A. A document that shows your name and current address. XMTrading accepts a utility bill or bank statement issued within the past 3 months, and HFM accepts a bank statement or utility bill within 6 months (both per official guidance). Conditions differ by broker, so confirm on the application screen.
Q. What should I do if my forex verification is rejected?
A. First check that your registered details match the documents and that all four corners and the text are readable. Also check the expiry date and the date on your proof of address, then fix and resubmit. If the reason is unclear, contact support.
Q. Can I trade at an offshore forex broker without verification?
A. The official procedures of the 10 listed brokers all require identity documents. HFM credits deposits after approval, and Axi caps deposits until verification is complete. Do not plan on skipping verification.
Sources and conditions
FX Textbook is edited from official platform documentation, broker-published information and applicable terms where available. Account conditions, services and rules can change. Confirm the current terms in the broker's registration flow before you act.
FX Textbook is an independent information site, not a broker or provider of personal investment advice. Forex and CFDs involve risk. You may lose some or all of your invested capital. No trading result is guaranteed.
NEXT STEP
Now that you know the flow, compare brokers.
We list account types, deposits, withdrawals and bonuses for 10 brokers on the same items. Check the conditions before you open an account.