What documents you need to open an account, and how to pass first time

Every regulated broker requires identity verification before allowing a
withdrawal. Preparing properly at the start gets you through
in one attempt rather than three.

Two types of document

Proof of identity

• A national ID card, driving licence or passport — in date.
• Photograph both sides, all four corners visible, no glare, nothing obscured.
• The details must match exactly the name on the account registration.

Proof of address

• An electricity, water or internet bill from the last 3–6 months.
• Or a bank statement showing the address.
• Name and address must match the registration details.

Four reasons files get rejected

• The name written differently — with and without diacritics, a different name order, a
  missing middle name. Any discrepancy can send the file back.
• A blurred photo or a cut-off corner — the most common rejection reason of all.
• A bill that is too old, or in another family member’s name.
• An expired document.

Funding rules to know in advance

This is the part that surprises people most if they have not prepared, and it applies at every
broker:

• Withdrawals must return by the method used to deposit, and must be in the account
  holder’s own name. This is an anti-money-laundering
  requirement, not a broker policy.
• Do not deposit from someone else’s account. The money may be received, but withdrawing
  it will cause problems, and in the worst case it can be held pending verification.
• If you deposited by several methods, the withdrawal order usually has to follow the
  deposit order.

Processing time

Usually 1–3 business days. If five business days pass with no response, contact support — the file may be
waiting on an additional document whose notification never reached your inbox.

When to do the verification

As soon as you open the account, before depositing. A great many people leave it until
they want to withdraw, at which point the wait becomes unnecessary pressure.

A practical suggestion: once verification is complete, make a small test withdrawal in
the first month. You will learn how the process runs, how long it takes, and find any snag early — while
the amount is small and there is no pressure on you.

About document security

Send documents only through official channels: the upload portal in the client area, or the broker’s
official email address. Never send photographs of documents through a chat group, to
someone claiming to be your account manager, or through any channel you cannot verify.

This article is for information only and is not investment advice. Conditions and fee levels are published by the brokers and can change at any time — check with the broker you actually use. Leveraged forex and CFD trading carries a high level of risk and can cost you your entire deposit.