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IQ Option Account Verification

Paul Titus
Barry Edwards
Last Updated on January 17, 2022

When traders join IQ Option, they are given a demo account to assess the platform. They do so to get a grasp of the multiple trading tools provided by the broker and practice their trades by using the virtual money provided by IQ Option.

For trading in an official way, users have to legitimize their ties with online brokers by verifying their accounts.  And while the process is effortless and brief, it requires just a few primary documents to verify the trading account. Completing this step will unlock a plethora of functions available only for verified users of IQ Option.

Moderators often reject a poorly submitted application despite being a quick and straightforward process. 

Let's explore the various steps involved in the IQ Option successful verification process in detail. 

For IQ Option Detail Review, You can Read Our Article: IQ Option Review – Is it a Scam? [South Africa, 2021]

Why Do You Need To Get Verified?

Why Do You Need To Get Verified

Verifying your account with IQ Option is a two-way street. Firstly, completing this process makes the trader an official member of the IQ Option family and unlocks the platform's full functionality. Secondly, it proves the legitimacy of your bank account, identity, and trading account to the broker.

There have been numerous cases involving clients conducting malpractices using an online broker. These include but are not limited to money laundering, theft, and financing terrorism. Therefore, to prove your identity as a legitimate trader, it is mandatory to verify your account.

Listed below are policies rigorously followed by IQ Option and its affiliates. 

Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy

Money laundering is commonly defined as participating in actions designed to mask the true origins of funds procured through criminal or illegal activities. These funds usually appear to have been obtained through illegitimate sources or comprise of illegal assets. 

IQ Option follows this policy strictly and is actively pursuing the prevention of any endeavors facilitating money laundering or other criminal actions. Furthermore, the company demands its clients, officers, and employees to adhere to these standards to prevent the platform's use for illegal ventures.

In addition to the AML policy, IQ Option rigorously adheres to a "Know Your Customer" policy. This refers to the procedure of verifying the identity of the clients before the business commences. However, establishing the customer's identity is not the only objective. This policy aims to assess the money laundering risks associated with the clients and learn about the nature of the clients' activities.

In a world going online, financial institutions like IQ Options are vulnerable to unauthorized criminal activity. Policies like KYC and AML are designed to protect the customer and the broker against such illegal actions.

Benefits Of Getting Verified at IQ Option

Although getting your account verified is done for security purposes, traders can benefit in several ways after completing the process. Not only does it provide authenticity to the account, but it also unlocks the entire IQ Option platform for the trader.

  • Implementing the tools IQ Option can push you closer to your financial goals regarding trading. These tools are the technical instruments that enable traders to analyze the price charts efficiently as they provide a plethora of insightful information.
  • Moreover, utilizing the analytical instruments provided by IQ Option can help users track the markets effectively and evaluate the performance of various assets.
  • Even better, traders can finally withdraw their funds after successfully verifying their accounts. After the moderation team at IQ Option has checked your details and hasn't found any discrepancies - they will validate your account and make you an official platform member. This enables traders to withdraw their profits from the broker and transfer it to their bank account without any hassle.
  • If a trader gets locked out of the account or faces any other issue, they can contact customer support to assist them.  Having a verified account can help the support team confirm your identity and resolve your problems swiftly.

 

How To Get Verified at IQ Option?

How To Get Verified?

If you're wondering how to get your trading account verified with IQ Option, you've come to the right place. Here's a short guide to walk you through the entire process of account verification.

IQ Option doesn't joke about its security and requires users to comply with their policies. They also ask traders to provide certain documents that help them in the verification. 

Moreover, users must provide their email id, phone number, bank details, and other personal information for verification. 

What's more, users can make a deposit right after providing their basic information such as email id and phone number. However, suppose they wish to make a withdrawal. In that case, they'll be required to complete the next step, which involves proof of identity and address verification. 

Here is a list of the information that needs to be verified by IQ Option.

#1. Email

The first step of the verification process is validating your email id. Simply select the "verification" option in the menu to initiate the process. This will redirect users to the verification page with a task list of things to get verified.

Select the option "verify your email" to start the process. Proceed by entering your email address in the box and pressing "submit." This will send a verification code to your email address which will help in confirming your email id. Head to your inbox and copy the code you received in the mail. Further on, head back to the IQ Option website and paste the code to confirm your email id. 

Completing this process will link your email address to your trading account. This also enables your email address to receive future confirmation emails, newsletters, and important updates. To avoid getting banned by IQ Option, using your own email when making the account is essential.

#2. Phone Confirmation

The next step is to confirm your phone number. The process is precisely like verifying your email and consists of only two steps. Simply input your phone number to receive a text message with the verification code. Next, type the code on the IQ Option website to register your phone number. 

For an added layer of security, the phone number verification can be used to turn on the two-factor authentication. Enabling this feature makes your trading account secure and will prevent hackers from illegally accessing your account.

To avoid going against the policies, and breaking the brokers' rules, it is essential to register your phone number. People often try using their relatives' or friends' numbers and risk getting their trading account banned. 

 #3. Personal Data

In this section, traders submit their general information by filling a form. The personal data includes your full name, date of birth, and gender. You will also state your citizenship and your complete residence address. 

Be sure to enter the correct address to complete the personal data verification successfully. The address will be confirmed once again later in the process. Also, all the sensitive data shared by the user is confidential and is kept with the broker. Above all, traders can rest easy knowing IQ Option will never disclose their data to any third party.

#4. Identity

To ascertain the identity of the traders, the platform must check and validate every user's id. People often create an account using a false name, which makes a problem for the broker as the faux user can run away without taking responsibility for their actions. 

The documents accepted by IQ Option for identity verification are the passport, driver's license, and other government-issued ID cards. The verification moderators thoroughly check the validity of the documents and submitted IDs. Therefore, remember to send valid documents which are issued in the users' name as falsifying your documents can lead to an instant ban.

#5. Address

Users might be asked to link their trading account to a physical address in some situations. While this is not mandatory, there are chances of the broker requesting this information at some point.

To verify your address, simply send a copy of one of the following documents:

  • Bank or credit card statement
  • A utility bill such as an electricity bill
  • A document from the local municipality, confirming your address
  • Tax statement

Traders can select any one of these documents or choose another document with their name and address. In addition, the document must be readable, with the logo of the organization and its official stamp. Lastly, the document cannot be older than six months.

Although a utility bill is the easiest option, it will only be on the user's name if they are owners of the residence. For traders who don't own a place, a bank statement with the stamp and signature of the issuing employee will suffice.

#6. Bank Card

This step proves the ownership of the card that is used for transactions on the IQ Option platform. For the broker to confirm if you're trading on your behalf, it is essential to verify a card that is registered in your name. Using third-party cards is prohibited to keep the platform safe and prevent money laundering.

Remember to send a clear and visible copy of both sides of the card. Additionally, mask the CVV code on the back and six digits of the card number before sending the pictures for verification.

It can take up to three days to verify and approve a users' request. Meanwhile, simply head to the "verification" tab in your account to check the verification status.

General Requirement For Uploaded Files

General Requirement For Uploaded Files

The verification process on IQ Option is spontaneous, and the moderators validate your documents within no time. Traders are requested to follow these simple guidelines to avoid making common mistakes during the verification process.

Adhere to the quality requirements for photo submissions. Ensure the documents are appropriately positioned with no cropped edges, glare reflections, and objects obscuring the image.

Don't postpone the verification process. As this process is mandatory, traders are bound to go through with it at some point. The best option is to verify your account before adding any funds. By doing so, users can be prepared to cash out without complications during their first withdrawal.

Provide legitimate documents that actually belong to you. Registering on behalf of someone else is a severe violation of the platform's policies, and abusing the broker's rules can lead to the trader's account being banned from IQ Option.

FAQ's

Here are some frequently asked questions regarding verifying accounts with IQ Option

How long does IQ Option take to verify?

While the process to submit documents takes a few minutes to complete, the moderation of the documents can take up to three business days. Moreover, it can take anywhere between one to five days to verify a user's bank card. Traders can check the verification status in their accounts.

I have a virtual card that I can't verify. What should I do?

A virtual cardholder's verification process is slightly different from that of a physical bank card. Since taking a picture of the virtual card is not possible, here's what you can do instead.

Go to your online banking portal and take a screenshot of the main page displaying the cardholder's name. The next step is to take a screenshot of the virtual card with the digits and the expiration date clearly visible. 

You can send these screenshots for verification of your virtual card. It is extremely safe to send your virtual card without hiding any numbers, as the CVV is not required when sending a screenshot of the card.

I used a nickname to create the account. Now I can't verify it. What should I do?

IQ Option cannot verify the account if it was created using a nickname. Therefore to proceed with the verification process, the registration data given in the account must be changed. To do so, users must contact the customer support team of IQ Option. The support team will guide traders through a step-by-step process to change their nicknames and verify their accounts.