Verification is a mandatory requirement when working with established binary options brokers, such as Binarium. It helps companies comply with anti-money laundering (AML) regulations and prevent financial fraud. All brokers that legally operate in the financial markets must follow AML regulations, as failure to comply can result in substantial fines and regulatory penalties. Therefore, if a broker does not require verification, this may be a warning sign that the company is not operating transparently.
Content:
- What is verification and how does it happen?
- How do I get verified with the binary options broker Binarium?
- How long does it take to verify an account with the binary options broker Binarium?
- Is it possible to bypass verification with the binary options broker Binarium?
- Conclusion
What is Verification and How Does It Happen?
In simple terms, verification is the process of confirming your identity by submitting copies of personal documents. These documents typically include a passport (local or international) and a bank statement or utility bill as proof of address.
Copies of documents must be of high quality, so that the full name and other information are clearly legible, otherwise, the verification request may be rejected by the broker’s compliance department.
How Do I Get Verified with the Binary Options Broker Binarium?
Binarium broker has officially provided financial market trading services since 2012. Throughout its existence, the company has earned recognition from numerous traders across the CIS. Most reviews of Binarium are positive, and since image is crucial in this business, the company adheres to an AML policy and operates in accordance with all regulations and laws to maintain its image.
Note: More detailed information about verification requirements can be found in the Binarium broker's user agreement. It also contains additional information that may be useful when working with this broker.
Before completing verification, you'll need to open a trading account with the company. All the details and step-by-step process are described in the article titled "How to Register with Binarium."
After opening a new each trader receives a unique account ID in their dashboard.
This ID must be included in an email to the support team with the subject line “Verification,” along with a short message requesting account verification. The ID code is included in the email body so that company managers can identify which account needs to be verified.
Before sending a letter, please check that the personal information you provided in your profile is correct:
The response email will contain information about the verification details and the required documents. The list of documents is always standard:
- Passport.
- Bank statement or utility bill payment receipt.
Note: You can submit both scanned copies of documents and photos taken with a phone. However, the images must be clear and high quality, with all information fully legible.
How Long Does It Take to Verify an Account with the Binary Options Broker Binarium?
The verification process typically takes up to 48 hours (two business days).
Once your account is verified, the company will send you an email to the email address you provided during registration, confirming that your details have been successfully verified.
Is It Possible to Bypass Verification with the Binary Options Broker Binarium?
You can open an account and fund it without verification. You can also use a demo account to practice your skills. However, if trading on a real account is successful and you make a profit, you will likely not be able to withdraw it without verification. The company always reserves the right to deny withdrawals to unverified users, as detailed in the user agreement. For this reason, it is recommended to complete verification before funding and trading on a live account.
Conclusion
Verification is a mandatory procedure that shouldn't be neglected. It's not as difficult as it seems. Its importance lies in the fact that it grants traders full access to all account features and withdrawal functions.
There is also no need to worry about personal data disclosure, as the broker’s privacy policy is designed to protect clients’ sensitive information from third-party misuse.
Always pay attention to the broker's verification requirements. If a broker does not require verification, this should raise serious concerns about its legitimacy.
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