VERIFICATION ON BINOMO AND FEATURES OF CHECKING DOCUMENTS BEFORE WITHDRAWAL OF PROFIT

Binomo quickly took a leading position among domestic brokerage companies. It took the company only two years to organize work at a high level of quality, attract a huge number of users, create a unique trading platform, change the site design and firmly take a position among the TOP-5 companies. However, there are still reviews on the network with complaints from traders about non-payment of profits without verification on Binomo.

Before withdrawing money from the trading account, brokers require a scan of the passport and other documents. Without this procedure, the withdrawal of funds is impossible. Users do not want to send scans of documents for fear of fraud. Let's consider in more detail how to pass verification on Binomo. What does the user need to know before sending copies of documents to brokers?

Why do I need document verification?

Before withdrawing profits from a trading account, users create a request. For the company employees to be sure that the money will go to the owner of the trading account, and not to a third party, it is necessary to check the user data, verify them with the documents. Some beginners are sure that the broker simply delays the withdrawal of profits this way - this is not true. The verification procedure on Binomo is necessary for the following reasons:

• Regulatory requirement. The regulatory authorities do not want problems with the law, therefore, oblige licensed brokers to conduct business transparently. They must make sure that brokers, their clients are not involved in money laundering and other illegal operations;
• age censor. On the website of any brokerage company it is written that only those persons who are over 18 years old can trade binary options. All categories of users have access to the Internet. Teenagers can safely visit the broker's website, they are also interested in how to trade binary options, make a profit online.

Minors register under false names and use relatives' credit cards. In general, this behavior is not fraud for which law enforcement agencies can punish.

However, parents of adolescents can continue to sue the brokerage company, it will have to compensate for legal costs, pay a fine. To avoid such situations, brokers demand to send copies of documents, reconciliation of data confirms that the trader has already reached the 18th anniversary;

• Protection against scammers. The trading rules of most companies indicate that withdrawals are made only to the direction from which the trading account was replenished. This item is indicated for a reason. In the era of the development of information technology, any interested hacker can crack a user’s account, and then request a withdrawal of funds with payment details.

The verification procedure protects funds on the balance of users, fraudsters simply can not steal them.

If the attackers hack the user’s account, the broker will refuse to pay them profit, because the number of the payment card or electronic wallet will be different. Based on these reasons, we can summarize: verification on Binomo is not a whim of the company's management, but a mandatory procedure that is necessary to protect the trader's funds, their data and maintain the reputation of a broker.

Features of checking documents on Binomo

The verification procedure on the company's website cannot be called complicated and time-consuming. The broker tried to simplify it as much as possible. Binomo requires: a passport scan, a photo with an opened ID card in hand, a copy of the payment card when depositing it. All scans must be of good quality. If an employee of the brokerage company cannot consider the details, then a copy of the passport, identity card will have to be sent again.

In most cases, only a scan of the passport is requested - this is enough to go through the verification procedure, shortly the money may be in the account. When requesting a large withdrawal, brokers may ask you to send a photo of the disclosed passport. This is necessary to make sure that the funds will go to the broker's client, and not to an outsider.

Important! It takes some time to verify the documents, so for the whole process: from the moment you send the scanned documents to their final verification, you will have to wait a few days.

Binomo does not delay the verification procedure. Most often, the verification does not take more than a day. But in some cases you have to wait up to 3 days. If the user’s passport is expired, the broker has the full right to refuse to pass the verification procedure. In the future, it will be necessary to send a scan of the current document to the finance department. Thus, you will need to go through the whole process again.

In the User's Account there is no field for downloading scans of documents. The address where you can send copies is not specified. Therefore, you should first contact the technical support service of users with the question of how to pass verification on Binomo, and then clarify the email address and the list of necessary documents.

Next, you will need to scan them and send them to the specified address. Within a day, a notification will be sent to the user's mail that the data verification was successful. If defects are found, you will need to eliminate them and send the documents again.

Important! Do not be afraid to send scans of documents that broker employees can use the trader's personal information for fraud.

A limited number of employees who are responsible for user data work with user data; they do not have the right and cannot transfer information to third parties. The information transfer channel is as secure as possible, data is encrypted, hackers cannot crack it and steal information.

Conclusion

The verification procedure on Binomo does not take much time. For its passage, it is necessary to send a scan of the passport, payment card to the broker's employees. If the trader wants to withdraw a larger amount, then you will need to send a photo with an identification card in your hand. If the copies are of good quality, then within 24 hours a notification will come that the verification was successful.

You should not be afraid to send copies of documents to broker employees, since the information transfer channel is reliably protected. To make sure that Binomo is serious about customers, it is recommended to register, verify the data of the account holder, make a profit and withdraw it.