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Knowledge base: FAQ
Account Verification Procedure
Posted by on 29 January 2014 04:13 PM

  1. What is verification?
  2. What documents are required for verification?
  3. What documents are required for the verification of a Corporate Account?
  4. I uploaded the needed documents long time ago, but account status is still "Not Verified". Why?
  5. My document has been rejected with comment "Better quality is required". How to improve the quality of the scan?
  6. I have no bank statement; the utility bill has the name of an apartment owner or a relative.
  7. How to make a verification process faster?
  8. I do not have a scanner. What should I do?
  9. Why my Mobile phone bill is rejected? I do not have utility bill or bank statement.
  10. Can I make a deposit and start trading and then verify my eWallet?
  11. All my documents come to P.O. Box address; may I use it for verification?

1. What is Verification?

Verification – is the procedure required to confirm an Account holder’s identity. To verify your Account:

  1. Log in to the MY FXOpen area.
  2. In the menu choose Profile → Account Verification.
  3. Choose the document type (Personal ID or Proof of Address) and click Browse.
  4. Choose the file that contains the scan or photo of the document.
  5. Click Upload.

Once your Account has been approved you can then add /transfer/withdraw funds and start trading.
We aim to verify the account within 24 hours during business days. However, the time required to review your documents and verify your Account may increase if you provide incorrect documents.

You can get more details on the verification procedure with FXOpen UK here.

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2. What documents are required for the Verification

To verify your Account you must upload 2 separate documents, one from each of the following lists (for individuals):

  • Photo ID – Passport, National Identity card, Military ID card, Driving licence or other valid Government issued ID with a Photo, Date of Birth, and Name;
    The ID must not expire within 3 months from the date that you upload it to us.
  • Proof of Address - Utility Bill, Land Line Phone (not mobile/Cell phone), Broadband, Gas, Electricity, Water, Tax Bill, Bank Statement, or other bills with the same address that is registered on your FXOpen account. Proof of Address must not be older than 3 months from the date you upload it.

You can upload your documents via the My FXOpen area, Profile → Account Verification tab. 

We accept documents in the following formats: *.jpg (JPEG), *.gif, *.png. The size of each document must not exceed 20 Mb.


3. What documents are required for the verification of a Corporate eWallet?

To verify a Corporate account you must upload the following documents:

  • a scan of registration documents for the Company (Articles of Incorporation or a document of similar power);
  • a scan of the Company owner’s Personal ID (passport, Driver's License or any other valid photo ID with a name and an actual address);
  • if an Account Representative (i.e. a person who opens an FXOpen eWallet on behalf of the Company ) is not its director (owner) or the name of the director (owner) is not mentioned in the registration documents, we require Corporate Resolutions of Board of Directors or another document confirming their right to open an eWallet and execute trading operations in it (i.e. power of attorney). It must be signed by all the Directors/Shareholders.
  • Proof of the Company's address – a document confirming the actual address of the company listed in the trading account (a scan of a bank statement or a utility bill);
  • Proof of address of the person who opens an FXOpen eWallet (not older than 3 month from current date);
  • Certificate of Good standing or Certificate of Incumbency (not required for companies incorporated within last 6 months).
FXOpen has the right to require additional documents for verification procedure 
with or without further explanation to the client.

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4. I uploaded the required documents a long time ago, but the account status is still «Not Verified». Why?

Check the following:

  1. Log in to FXOpen.
  2. Choose Profile → Account Verification tab.
  3. Check the status of your documents:
    • Pending - your request is in process.Verification process normally takes up to 24 hours on business days;
    • Approved - your document has been checked and accepted. If your account status is still "Not verified", please, send an e-mail to su[email protected] or get immediate assistance through Live Chat;
    • Rejected - your documents have been checked but not accepted. The reason is explained in the Comment column.

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5. My document has been rejected with comment «Better quality is required». How to improve the quality of the scan? 

Please rescan your documents. The file size must not exceed 20 Mb. The scan must be in color and all the information on it must be clearly readable.

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6. I have no bank statement; the utility bill has the name of an apartment owner or a relative. 

We can only accept utility bills in the name of the applicant that match the address and are no older than 3 months. We are not able to accept documents that are not in the applicants name.

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7. How to make a verification process faster?

As a rule verification process is completed with into 24 hours on business days.

The time required to review your documents and verify the Account may increase if you have to re-submit your documents (because the documents were rejected by FXOpen or FXOpen asked you to submit additional documents). If you need faster verification, please send an e-mail to su[email protected] or get immediate assistance through Live Chat.

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8. I do not have a scanner. What should I do?

You can use digital camera or your phone to take a photo of your documents. Please note that we do not accept xerox copies or scans of xerox copies.

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9. Why is my Mobile/Cell phone bill rejected?

We do not accept Mobile Phone Bills as a proof of address. 

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10. Can I make a deposit and start trading and then verify my eWallet?

No, you are not able to deposit funds or trade until your Account has been Verified.

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11. All my documents come to P.O. Box address; may I use it for verification?

We do not accept documents with a P.O. box number as a valid proof of address. Upload a Utility bill (not Cell phone bill) or a Bank statement with actual home address. If you are a residents of The Arabian Peninsula Countries or Kenya we maybe able to accept a proof of address with P.O. Box. We also still require your full address during the registration.

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