Verification for EU clients

From the account menu, the user generally has two main options about how to open the verification survey. The first notification is shown at the menu top, with an exclamation mark, which tells the user to complete the questionnaire. Part of the data will help to complete the account information, and with its help it will become possible to add the phone number for alternative login option. The second menu with “Verification” sign gives the extended menu and sections that should be completed for getting the real account available.

On the verification page, the trader sees several sections that either require the response selection or application of the corresponding document. Usually, first goes the survey of a general orientation where users can complete filling in the personal information.

A part of the questionnaire is going to test the user on the proficiency level, which is better to be taken seriously. Along with it, the administration will get to see the trader’s expectations on the income level, preferred ways for replenishment and withdrawal that will later help in improving the user experience.

The section which involves the personal data disclosure requires telling the full name, exact birth date, place of residence to make sure such person does exist and does not violate neither regional laws nor platform’s Terms of Use. After receiving the information, it gets the reliable encryption to prevent any leaks or fraudulence cases.

With the careful review of all the information added, the application of documents that serve as a proof of identity, everything is ready for unlocking the real account. It allows to complete the real trading operations, manage the balance by depositing and withdrawing funds and use the whole range of functions the IQ Broker platform provides.

Verification for non EU clients

The residents of other countries also have to pass the verification process while following the similar rules. While the questionnaire points remain the same, the documents should not be exactly of the same type, depending heavily on the rules of a certain region. For the identity proof, the person is allowed to attach:

• the passport image with the photo page opened
• the national identity card
• the driving license
• the document of residence permit

All of them are issued to the individuals who have reached the age of majority, serving as a verification of the user’s maturity. The documentation for the proof of residence works in the same manner, allowing to present:

• the utility bills with the address shown
• the bank statements about the current financial state
• the tax bills issued
• the certificates of residence which were released by the local municipality

With the current regulations in the US law projects about the trading operations, only the people with a status of “US reportable person” are allowed to register the IQ Broker platform and verify the account. If there is no such mark, or no data found in the register, then the user receives the banishment.

Email verification

One of the last steps in verification requires confirming the mentioned e-mail address for the futher contact. It can be done before the verification start, too, as the invitation letter with confirmation is sent right after the registration. There are two ways of completing the e-mail – either through the button activation or copying the 6-digit code below.

When selecting the second option, the trader can apply this code during the last steps of verification. By pasting it and clicking “Continue”, the user confirms the e-mail which will be used later for password recovery, emergency contact or other communicational purposes.

Phone verification

For getting the login alternative, the user also adds the active phone number used on a regular basis to the platform’s database. With specifying the country code, the rest of digits is entered carefully so that the system could save it correctly.

After confirming the number, the trader should wait for a message notification with the short numeric code. If entered correctly, the system immediately accepts the entry and verifies the phone number under the user’s name. Changing it later, however, may take a lot of effort and the full assistance of the support team that will confirm the operation on one of the crucial security aspects.

Why IQBroker requested additional documents?

There are quite many cases known, especially in the trading field, about the people who operate the market under someone else’s identity for different reasons. From applying under the relative’s name to the cases of identity theft, these cases are still fraudulence that should be prevented immediately. For this reason, the verification check-up is required that allows to minimize any risks of the unhealthy behavior on the trading platforms. In some communities, the IQ Broker’s attitude was considered as a standard that was taken into account and inherited by several other platforms.