FWIW... I agree REQUIRING A SELFIE which requires a SMART PHONE which is not just a contact phone, as opposed to a government issued photo ID is crazy. I have not run across that in any segment of MY orbit. I think the Obama phone program is still around.
Could be worse. I recently had an experience with Skrill where they wanted a copy of my driving license (front and back) a selfie, a copy of a credit card statement showing my address and a copy of a utility bill showing my address, confirming residence... no older than 90 days. I guess they thought I might be a big-time money launderer or something.
OP has been put on hiatus for a week to examine and reflect on his abusive posts. If he returns in the same frame of mind he will be banned.
Dead wrong! Funny but today I've opened second IBKR account and they wanted a fucking selfie!!! Unpleasant surprise. And then I clearly remember opening my account in December 2019 - no smartphone required. Furthermore, they wanted official state issued document for my address; utility bill is not acceptable anymore it seems. Crazy stuff. I am in Europe.
FWIW, the world is evolving and the digital age has opened the doors for bad actors to operate. Firms and regulators need to stay ahead of curve in terms of AML, KYC, account protection and more. For a global firm like IBKR, it is even more complicated as we need to navigate the many different (and sometimes conflicting) global regulations. Selfie - not all of our entities require a selfie but for many, the selfie allows the brokerage to comply with AML/KYC requirements and reduce fraud. In some markets it is actually a regulatory requirement unless an account is opened face to face. As you state you are in Europe, the selfie is one method of satisfying KYC requirements. The alternative could be video, in person face to face or maybe formal notarization which is very costly for the client and the firm to obtain/process. As for 2FA, there is no way around it. For clients over $500K we can provide a physical digital device but everyone should assume their information is exposed on the internet and do their best to avoid fraud. The IBKEY which uses facial recognition is a breeze to use and is much easier than SMS and challenge type codes in my opinion. Finally, the AML/KYC documents required when opening account are driven by regulatory requirements of the given entity in which the account is being opened.
@def , thank you for the clarification. It is beyond obvious that IBKR has their reasons. However, you should keep valid options for non-smartphone users. Catering to the lowest denominator (pc-less smartphone zombies) could definitely hurt Interactive in the long run. How many users do you think are with IBKR because of the great smartphone app?
More and more each day is my guess. "The way of the world" we now live in. The alternative live off the grid, in a cave.