Verification at Forex Broker NPBFX in 7 Minutes

Sooner or later every trader has to go through the verification process. Verification of personal data is a mandatory requirement of any bona fide Forex broker. In general, most traders treat this procedure calmly, but some clients are confused by the fact that in the course of verification the broker asks for copies of personal documents. Although nowadays identity verification has become a common practice when receiving online services and has gone far beyond the financial business.

In this article we’ll explain in detail why it is necessary to pass the verification in the brokerage company, how to do it in just 7 minutes on the example NPBFX brokerand why you should not be afraid of this procedure, to put it off “for later”.

Why do we need verification and why is it really important?

Verification consists of a number of simple procedures aimed at confirming the identity of the trader. Brokers conduct verification at the insistence of financial regulators in order to avoid disputes related to the deposit/withdrawal of funds of the client. With the help of verification, the broker provides protection of the trader’s personal account by the modern system of passwords, which excludes access of third parties.

That’s why this procedure should be of interest first of all to the trader himself. Attackers simply will not be able to use your account, if it has passed the verification procedure and your personal data has been confirmed. A few simple actions – and you are insured against all kinds of fraud and can easily withdraw your money, if necessary, having confirmed your rights with documents.

When can I be verified?

Some brokerage companies will ask you to verify your identity immediately when you open your personal account, while others will require this process just before you withdraw funds from your personal account. In any case, the verification procedure is better not to be put off in a long box and to pass it as soon as possible. In this case, the need for urgent verification will not be an unpleasant surprise for you.

What documents are required for a successful verification procedure?

Usually for verification the brokerage company asks for a scan of the passport with confirmation of the residence address (residence registration). Photographs of the document will also do. The main thing is that they should be in good quality, readable, and without foreign objects on the background. You don’t have to be afraid if the broker will ask for your picture with your passport unfolded in your hand. In this way, the broker reassures himself and you against fraudulent actions. Moreover, some companies perform the confirmation of the personal data with the help of video. However, it is rather an exception than a rule. As a rule, an exhaustive request from the broker will be a request for a photo or a scanned document of good quality.

Step-by-step guide to verification using NPBFX broker as an example

So, we’ve identified why, why and when verification is necessary, as well as what documents are required, now let’s move directly to the process of verification of personal information of the trader.

Broker NPBFX (go online) allows the verification of personal data, as well as the confirmation of the client’s address immediately after the registration process. It is worth noting that the company is not interested in the client going through the procedure for a very long time. If your documents meet all the broker’s requirements, the verification process will take no more than 7 minutes.

The algorithm of the verification process is as simple and clear as possible. Even a novice trader who has entered the broker’s website for the first time and decided to register will be able to cope with it at the first time:

1. Login to your Live Account using your username and password. Then select the Verification tab in the lower left corner:

The company offers two types of verification: by personal data and by residence address.

To pass the verification of personal data, the broker requests color photos or scans of identity documents (local passport, passport or driver’s license), which must be clearly visible:

• Your full name;
• Photo;
• Caption;
• Date of birth;
• Document validity period.

The document must be valid for at least 6 months from the date you applied for verification.

When verifying your residential address, NPBFX asks you to upload color photos or scans of your document in good quality, where you can clearly see your full name and address of your actual place of residence.
The document must be no more than 3 months old from the date of verification (exception: reverse of the passport with the address of registration).

2. To verify your identity, click the green “Start” button next to the “Identity Verification” section:

And fill out the form as required:

After filling in your personal information, upload a photo or a scanned copy of your document in the “Uploaded Files” section and click “Submit”.

3. After that the Details button will appear in the Identity Verification section:

There you will be able to track the status of the uploaded document – at this stage of verification it will have the status: “Pending verification:

It takes no more than 24 hours to verify personal information (except on weekends). However, it often takes an hour or two for the system to verify personal information.

And gives the corresponding information on the status: “Verified” or “Rejected” – in case of non-compliance of the sent data with the regulatory requirements for the verification documents:

But what if you’re not willing to wait even 1-2 hours, much less 24 hours?

NPBFX broker has also provided an option of accelerated verification of personal data, which takes a few minutes. For this purpose you only need to write a request to the technical support service with the number of the Client’s Profile, so the specialists will conduct verification instantly.

You can contact the broker’s support through online chat on the company’s website or call the office at the phone numbers listed on the website.

It is very convenient that the support of the broker works around the clock, as well as the Forex market (24/5), so you can pass the verification at any convenient time and you can always meet the wishes of the client.

4. the procedure for verification of residence address is carried out in the same way.

Conclusions

Using the NPBFX verification procedure as an example, we can conclude that the process of confirming personal data is not as difficult and time-consuming as it may seem at first glance.

To verify with NPBFX you need to follow just a few simple steps:

Step 1. Open the “Verification” tab in myAlpari.

Step 2. Choose an option that is acceptable to you:

• verification of personal data or
• residence address verification

Step 3. Download scanned copies of the required documents and fill out the proposed Personal Information Form.

Step 4. After the broker checks the data, you will receive the status “Verified”.

In this way the broker protects your personal data and is responsible for it. It just shows that you can trust him and be safe for your funds.

Verification significantly increases the level of security of your funds in the brokerage company in case of disputes.

If you have any questions, you can contact the NPBFX broker support service and qualified specialists will give comprehensive answers to all your questions.

The company has been providing brokerage services since 1996 and has established itself as a professional and reliable broker.