How & why should I pass verification?

The reasons for personal identity verifications are explained by two essential projects – the anti money-laundering initiative and know-your-customer policy. As there are comparatively high risks of financial operations used in favor of shady business sponsoring, the administration should pay thorough attention to the person applying as a trader. In the end, the procedure helps to ensure the legal registration of accepted users or prevent the application of people who have the questionable reputation or problematic moments in the verification data.

What is AML/KYC?

As an alternative, the main motivational projects are named in Terms in Conditions by their shortened abbreviations, AML and KYC correspondingly. Whenever they are seen in the context of fraudulence descriptions, the automatic associations should recall the countermeasures – Anti money-laundering and Know your customer. More information about them can be learnt from the general explanatory articles or detailed studying of Terms and Conditions documentation.

Why were my documents rejected?

There are some cases when the verification request is declined by the platform by some of the reasons. The majority of such situations is caused by submitting the documentation photos without quality check, while the rules require only clear images with centered placement of the information presented. However, sometimes the cases may include the attempts to forge some data, like date of birth, current financial status or even more serious implications, which may lead to profile ban potentially.

Can I withdraw money without verification?

Without the approval of the administration, the withdrawal feature is completely blocked, not letting the money leave the platform. As all the requests go past the administration, the created form from unverified user gets the “pending” or “rejected” status which can be lifted only after completing the procedure. When the account is updated, the requests also get activated again, letting the funds out of the system. As the exception, the withdrawal is possible to the bank card, only if it was used during the deposit process.

When should I verify my bank card?

Along with the identity verification, the same procedure is expected for primary bank card, to be able to recognize whether the withdrawal is actually sent to the same person as the account owner. For the bank card check-up, the user should also make photos, where there are clearly visible first six and last four digits, expiration date, issued bank. On the contrary, the CVV code should remain hidden, as this information should be known by the card owner only for completing the transactions through it.

When should I verify my ID/Passport?

Once the account info is complete, being the part of authentication process, the trader can proceed to sending the identity proof. Depending on the region, the documentation varies from traditional passports to accepted driving licenses. In addition, there may be necessary the certificate related to financial stability proof, which is issued by bank, notice about tax bills and similar information.

Can broker request additional documents?

If there is a need, the platform can either make the user to apply for verification again or ask for alternative documents. All of such cases are discussed individually, but, with following the rules, there will be no need in any replacements. The response usually comes in a couple of days after sending all the necessary files, at any attempt.