Mitrade EU, a CySEC-licensed CFD trading platform, is advancing digital transformation to improve access to financial markets. Its new streamlined, paperless Know Your Customer (KYC) process enhances efficiency and eco-friendliness while following regulatory requirements. This shift makes onboarding more intuitive for new investors while also aligning with global sustainability practices.
Traditionally, opening a CFD trading account requires extensive documentation and manual verification that can last for days or weeks. According to The Fintech Times, corporate client KYC procedures in the financial industry account for up to 40 percent of operational budgets. Meanwhile, Europe produced 77.8 million tons of paper in 2024, per the Confederation of European Paper Industries (CEPI), underscoring the impact of paper-heavy bureaucracy.
Mitrade’s adoption of digital KYC marks a step in modernizing CFD trader onboarding. By integrating digital identity verification, the platform enables traders to complete authentication in real-time from any device. This reduces administrative hassle, eliminates excessive paperwork, and ensures security without compromising due diligence requirements.
“The future of trading is digital, and as a CFD broker, we are committed to enhancing onboarding with a digital KYC process that supports a greener future,” said Kevin Lai, Vice President of Mitrade Group. “Through technology, we elevate trader experience while following the regulatory requirements.”
Moving away from manual KYC allows Mitrade to reinvest resources into enhancing CFD trader care, refining trading platform features, and tightening spreads—reinforcing its commitment to a trader-first experience.
As digitalization reshapes financial markets, Mitrade’s approach aligns with the industry’s progression towards responsible, inclusive, and eco-conscious CFD trading.
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