What is address verification, and why is it required?

Address verification confirms a user's residential information using official documents to meet regulatory and security standards. It is a component of the broader KYC process that establishes not only who the user is, but also where they reside. This additional layer of confirmation helps the Company comply with jurisdiction-specific regulatory requirements and provides a more complete and reliable picture of each account holder's profile.

Address verification is required for several important reasons. From a regulatory perspective, financial authorities in many jurisdictions mandate that companies confirm the residential address of their users as part of anti-money laundering and counter-terrorism financing obligations. Knowing where a user resides allows the platform to apply the correct regulatory framework to their account, including appropriate leverage limits, tax reporting requirements, and product availability restrictions that may vary between different countries and regions. This ensures that each user's account operates in full compliance with the laws applicable to their specific location.

From a security standpoint, address verification adds another dimension to the Company's systems ability to detect and prevent fraudulent activity. A confirmed residential address, combined with a verified identity, makes it significantly more difficult for bad actors to create accounts using false or stolen information. It also supports the Company's communication with users, ensuring that important account-related notices, regulatory disclosures, and security alerts can be directed to the correct address when necessary. The address verification process itself is straightforward. Users submit a recent document, such as a utility bill, bank statement, or official correspondence (such as tax returns, council tax bills, or government-issued certificates of residence) that displays their full name and current residential address. Once the document is reviewed and approved, the address is confirmed on the account and does not need to be re-verified unless the user moves to a new address and updates their registered details.