Mitrade CFD Trading Platform Adopts Digital KYC to Accelerate Onboarding for EU Traders

LIMASSOL, Cyprus, March 18, 2025 /PRNewswire/ -- 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 modernising 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 digitalisation reshapes financial markets, Mitrade's approach aligns with the industry's progression towards responsible, inclusive, and eco-conscious CFD trading.

About Mitrade

Mitrade EU is an award-winning CFD trading platform licensed by CySEC (CIF438/23), and part of a group of entities that are regulated by ASIC, CIMA, and FSC. The brand democratises global market access, connecting 5M+ traders to CFDs on indices, forex, commodities, ETFs, and shares.

Powered by AI-driven technology, Mitrade offers microsecond execution, tight spreads, advanced risk mitigation, and multi-device compatibility, ensuring an intuitive trading experience tailored to investors.

CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Visit https://www.mitrade.com/ for more information.

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CONTACT: Rachel Weiss, rachel.weiss@mitrade.com