FOREX.com enhances onboarding in Japan with LIQUID eKYC integration
FOREX.com streamlines onboarding
FOREX.com, a broker for professional trading in both exchange and over-the-counter markets, has announced that its parent company, StoneX Securities Co., Ltd.—the Japanese subsidiary of StoneX Group Inc.—has integrated LIQUID eKYC, an advanced online identity verification system developed by Liquid Inc., a member of the ELEMENTS Group.
This implementation marks a significant step in streamlining the account opening process in Japan, particularly for new users registering trading accounts on FOREX.com, according to PRNewswire. It’s worth noting that the broker had previously utilized eKYC systems; however, LIQUID eKYC, with its cutting-edge AI-powered image recognition and biometric authentication, delivers a considerable improvement in both accuracy and user convenience.
Revolutionizing account opening with AI-Powered verification
FOREX.com serves over one million traders across 180 countries, and Japan is one of its key markets. The transition to LIQUID eKYC aligns with the company's strategy to simplify onboarding and reduce user drop-off during the application process, which was often caused by blurry photo submissions and manual data entry errors.
LIQUID eKYC provides users with real-time, contextual error messages during the photo capture stage, helping them improve the quality of their documents before submission. This reduces confusion and significantly increases the chances of successful verification on the first attempt. The broker emphasized that it expects a notable increase in completed applications and approved accounts as a result.
Supporting compliance and boosting operational efficiency
Compliance with Japan’s regulatory framework—particularly the Act on Prevention of Transfer of Criminal Proceeds—is a top priority for FOREX.com. LIQUID eKYC fully meets these legal standards by securely collecting and storing MyNumber (Individual Number) data, a mandatory requirement for financial institutions in Japan.
Additionally, LIQUID eKYC’s Business Process Outsourcing (BPO) functionality simplifies essential tasks such as manual document checks, thereby improving workflow efficiency and allowing our team to focus on delivering top-tier client service.
Global reach with local precision
FOREX.com serves a diverse client base in Japan, including foreign nationals. LIQUID eKYC has a proven track record of successfully verifying various types of users both domestically and internationally, ensuring a compliant and inclusive onboarding process.
Furthermore, foreign-affiliated businesses benefit from LIQUID’s dedicated English-language support team, which offers comprehensive assistance with implementation and regulatory compliance in the Japanese market.
By integrating LIQUID eKYC, FOREX.com aims to enhance security and meet the growing needs of clients in Japan.
Also read: StoneX Group, the company behind FOREX.com, has launched StoneX Bullion.
