Verification of Pocket Option broker
- 1. Verification at a binary options broker
- 2. Verification and withdrawal of funds from Pocket Option
- 3. Conclusion
- 4. reviews
Pocket Option offers private traders a wide range of services. On the platform Binary options broker it is possible to trade currency pairs, cryptocurrenciesThe trading platform offers a wide range of trading options, such as commodities and shares of large companies. Here you can view training materials and learn binary trading on a demo account.
However, in order to trade on a real account, it is necessary not only to register on the PocketOption platform, but also to pass verification. Only after passing this procedure, you can get full access to the functionality of the trading terminal.
Verification at a binary options broker
Verification is a mandatory requirement that the broker imposes on his clients. Without it it is impossible to withdraw the earned money from the trading account. Below we will consider what verification is and why it is necessary at all.
What is a broker verification?
Verification at a BO broker is the confirmation of the client's personal data and location. Brokerage companies try to make this procedure as simple as possible, but without photos or scans of documents it is impossible. Usually, the users of the sites go through the verification process when withdrawing funds from the account, less often - when registering an account. Verification is a one-time procedure, it does not need to be repeated. Information is assigned to the user forever.
As a rule, brokers partially provide their services to unconfirmed users. However, it is best to verify your identity immediately after opening an account, as this is required of brokers by financial regulators - in order to combat money laundering. The verification process is very simple. A representative of the brokerage company, usually an account manager, asks the user by email or phone for several documents confirming their identity.
Why does a trader need verification?
The verification process allows you to screen out users who are prohibited by law to engage in binary trading. For example, verification in the binary options market is not available to underage citizens. However, the verification process is beneficial not only for brokers, but also for traders themselves:
- the procedure for identifying the client, if he suddenly decides to file a complaint against the brokerage company, is simplified;
- user funds are protected from scammers (earned money is withdrawn the same way that the client used when making a deposit);
- mandatory identification indicates that the broker complies with the requirements of the financial regulator.
On copies of identity documents, you can leave a note stating that this copy is made specifically for a particular company. In this way, the client will be sure that his personal data won't be passed on to unauthorized persons in any way.
Methods of verification
To successfully pass the verification process in the market binary options, you have to:
- Provide the broker with a document proving your identity. This can be a scan/photo of your passport or driver's license.
- Provide a document confirming the client's residence address. Usually, this is a copy of the page of your passport where your residence is listed. Often, instead of this document, you can also provide the broker with another document with the location address - for example, a bill from a cell phone operator or a utility bill.
- Confirm the deposit method. The broker may request a photo of the bank card on both sides or a screenshot from the personal cabinet of the electronic wallet, where the deposit operation will be visible.
Verification is not done out of some broker's whim, but to implement AML and KYC (anti-fraud and money laundering) procedures. It is important for the broker to know that the money was deposited to the card or electronic wallet of the client who earned it. This allows the broker to make sure that there will be no further claims to the organization.
Verification and withdrawal of funds from Pocket Option
On the Pocket Option platform, verification is required immediately after registration and account creation. Providing documents before making a deposit prevents problems with withdrawal of earned funds from the account. One must realize that according to the AML policy, PocketOption broker, as well as any other financial institution, has the right to refuse client's request for withdrawal of funds if he/she did not provide all necessary documents. Moreover, this applies to all unverified users, regardless of the amount to be withdrawn from the account.
Pocket Option offers a wide choice of ways to withdraw funds from the deposit. These are bank cards, electronic wallets and cryptocurrencies. Bank and mobile transfers are also available. The minimum withdrawal amount is $10. Usually the funds are withdrawn within 3 business days. However, without verification the money can't be withdrawn from the account. To confirm the identity the broker may request the client's photo holding the open passport in his hand (on the page with the photo). This is done to avoid fraudulent actions with other people's passports.
How do I get verified with Pocket Option?
Unlike many brokers the site pocketoption.com guarantees the safety of personal data of clients and their funds stored on the internal balance of the company. For this purpose, you can activate special protection tools in your personal cabinet:
- Google two-factor authentication;
- authorization on the broker's portal via SMS.
You can connect two-factor authentication when logging in and when withdrawing funds. Unfortunately, the broker's website does not have instructions on how to activate additional protection for your account. To do this, you need to go to "Profile", select "Security" and configure the account security.
As for verification, you need to open the "Profile" tab:
Here you need to confirm your name, last name and birthday. To do this, click "Download" and fill out the forms provided. It is also necessary to confirm the status:
- email - ask for the code to be sent to the email address you specified during registration and follow the link from the received email;
- phone - enter the cell phone number, and then enter the code received by SMS in the specified form.
With confirmation of identity and address, things are a little more complicated than with e-mail and phone. You have to enter full information about yourself and your location:
It is important to fill in all the fields correctly, otherwise verification will not be passed. The data in your passport must fully match the information provided. After completing the required forms you will need to upload and send scans of your documents. Verification of documents takes up to 5 working days. But, as practice shows, Pocket Option specialists check documents of new clients within 2-3 days. It is important to consider that images uploaded to the PocketOption site should be of good quality. Only a photo of a bank card can be processed in a program (for example, in Photoshop) to shade the secret CVV-code on the back of the card. All pages of documents must be photographed or scanned in full: so that the edges of the pages are visible.
How do I check verification at pocketoption.com broker?
You can always find out about the status of document verification from the Pocket Option support service. As a rule, the moderator checks the documents within a couple of days. Upon completion of this procedure, a notification about successful verification appears in the personal cabinet. After that, verification at PocketOption is considered to be completed, and the user receives full access to the broker's site.
Pocket Option identity confirmation is a mandatory procedure for private traders (get verified). We recommend that customers of this brokerage company make the account security settings and provide all the necessary documents for identity confirmation immediately after registration on the site.