The verification procedure is a prerequisite when working with licensed binary options brokers, which is Binarium . In this way, companies eliminate the possibility of money laundering (AML policy) and prevent the formation of other fraudulent financial schemes. All brokers who officially provide services in the financial markets follow the AML policy, since if they do not comply with these rules, they risk receiving a considerable fine. Therefore, if any broker does not have mandatory verification, then it is quite possible that such a company does not make plans for the future and is fraudulent.
What is verification and how does it happen?
In short, verification is the process of confirming personal data by providing scanned copies of documents. Almost always, such documents are a passport (civilian or foreign) and a bank statement or a receipt for utilities.
Copies of documents must be of high quality so that the full name and other data can be clearly read on them, otherwise verification will not be possible.
How to get verified by the binary options broker Binarium?
Broker Binarium has officially provided trading services in financial markets since 2012. Over the entire period of its existence, the company has received recognition from many traders from all CIS countries and Russia as well. Most of the reviews about the Binarium broker are positive, and since image is of no small importance in this business, the company follows the AML policy and works in accordance with all norms and laws so as not to lose it.
Note: More detailed information about verification requirements can be found in the Binarium broker user agreement. In addition to this information, you can find out many other points that may be useful when working with this broker in the future.
Before passing verification, you will need to open a trading account with the company. All details and step-by-step process are described in the article entitled - how to properly open a new account with Binarium .
After opening a new account in your personal account, each trader has his own personal ID:
This ID is required in order to send a letter to the support service with the subject “Verification” and accompanying text about the desire to undergo verification. The ID will need to be included in the body of the letter so that company managers can understand which account will need to be verified.
Before sending a letter, be sure to check the correctness of the entered personal data in your profile:
The response letter will contain information about the verification details and what documents will be required for this. The list of documents is always standard:
- Passport.
- Bank statement or utility bill.
Note: you can send both scanned copies of documents and photographs taken on your phone. But it is important to understand that photographs must be of the highest quality and all information on them must be easy to read.
How long does it take to verify an account with the binary options broker Binarium?
The verification process usually takes 48 hours or two full business days.
As soon as the account is confirmed, a letter from the company will be sent to the email specified during registration with the text that the data has been successfully confirmed.
Is it possible not to undergo verification with the binary options broker Binarium?
You can open an account and top it up without going through verification. You can also use a demo account and train your skills. But if trading on a real account is successful and a profit is made, then it will most likely not be possible to withdraw it without verification. The company always reserves the right to refuse withdrawal of funds to unverified users, which is described in detail in the user agreement. Therefore, it is better not to take risks and verify your profile before replenishing and trading on a real account.
Conclusion
Verification is a mandatory procedure that should not be neglected by the company’s clients. Going through it is not as difficult as it might seem, and it gives maximum privileges when working with a broker.
You also shouldn’t be afraid of disclosing personal data, as the privacy policy protects the company’s clients from the use of data by third parties.
And you should always pay attention to whether the broker requires you to undergo verification, because if there is no such condition, then you should think about whether this company is fraudulent.
See also:
Mobile application for binary options broker Bianrium
What are the benefits of a VIP account with the Binarium broker?
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