It is necessary to verify identity with almost all the Forex Brokers. Verify means that the fact that you have joined the company with their company and trading is really correct. Most of the brokers have to verify. But some brokers can trade without verifying.
What documents do we need to verify :
- Computer scan copies of your passport/National ID card/driving license.
- Your Address Verification Documents.
Computer scan copies of your passport / National ID card/driving license:
To verify, your computer/copies of your passport/National ID card/driving license must be uploaded to the Forex Broker site. You can scan passport or national ID card or driving license and save it in image format and upload it. If you do not have a passport / National ID card/driving license, you can not verify. Forex Brokers do not verify with the ID of the school, college or university. But some people said that they verified the account with the university’s ID card. The best way is the passport. Because the passport will always be useful for you.
Address Verification Documents:
By verifying the address Documents, you will ensure that the address you entered during the forex broker is correct. You can submit you any utility bill such as the mobile bill, internet bill, the current-gas bill as the address verification documents. You can use the bill to write your name, address and which is not 3-6 months old, you can use it to verify. You can use Banglalion, Qubee etc. bill to verify your address.
Is it important to verify?
Yes! Because without verification, you can not trade in a better way. When you want to trade in your favorite broker, then they also ask you for verification. So it is better to get the documents of the Verify.
There are no documents to verify. What will I do?
If you do not have documents to verify then issue a passport for you. It will always be useful in your next life. Ask for the address verification for a printed copy of the bill to the Internet Service Provider.
Trading without verification?
Yes! You can also trade in addition to Verify. Verify is not mandatory to trade with InstaForex. You can trade in this broker without any type of verification. But InstaForex authorities have the right to ask you for the documents of Verify at any time. Verify is not mandatory in many other brokers. In many brokers, you can trade without verifying, but must be verified before taking a bigger payment. FBS, Fxoptimax and many brokers can start trading without verifying. But to get a bigger payment you have to verify them.