eToro
By eToro
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The Nitty-Gritty of Account Verification

Verifying your trading account is both simple and necessary – below, we take a look at why that is and how you too can be verified. With a verified eToro trading account, you can enjoy the full eToro experience, without deposit restrictions and faster, smoother withdrawals.

What does getting “verified” even mean and why do I need to do it?

We have a regulatory obligation, in accordance with Anti-Money Laundering laws to ensure that you are who you say you are and that the funds you invest belong to you – for your protection and also for ours. Every eToro account-holder must complete their profile by filling in their personal details; answer economic questions and submit documents that meet our requirements.

Being verified means you have smoother withdrawals; eligibility for community promotions and no deposit caps!

How can I submit my documents?

Go to Settings (second-last item on the menu on the left side of your screen), then Account and click on Upload Utility Bill / ID. Here, you will also be prompted to answer a set of questions referred to as the KYC (Know Your Customer) form, providing more information to us on your economic situation.

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Which documents do I have to submit?

To start with, we need your full name, your residential address (no post box numbers, please) and a valid e-mail address and phone number so we can get in touch with you. The documents we ask for are used (and therefore must match) the above-mentioned details. 

upload documents

For proof of identity, we need a legible, colour copy of any government-issued photo ID document (e.g. passport or national ID card) that clearly shows the following:

– Full photograph of your face

– Your full name and date of birth

– The country in which it was issued

– An issue/expiry date (must be valid)

– Passport/MRZ/ID number or equivalent

For proof of address, we need a clear copy of a recent utility bill or bank statement issued by an official service provider. The utility bill should show your name, address and an issue date and must be no older than six months.

In some cases, we may also ask for proof of payment. If you are making a deposit through either MoneyGram or your bank, we will need you to send us a SWIFT document before we can process it.

Please remember that third-party deposit methods are not permitted! The funds you invest and payment method used must be your own.

I hope that this answers all of your account verification questions – leave a comment and let me know!

 

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