What documents are required to open an account with FXOpen? Table of Contents
- What is FXOpen's eWallet?
- Why you should verify FXOpen's eWallet?
- Required Documents for eWallet Verification
- 4 Levels of eWallet Verification with FXOpen
- Level 0 Verification
- Level 1 Verification
- Level 3 Verification = Level 2 + verification of the phone number by SMS or operator call
- Level 4 Verification = Level 3 + postal credentials or personal identification
- How to complete the Level 1. phone verification
- How to complete the Level 2. account verification
- How to restore an inactive trading account?
What is FXOpen’s eWallet?
All financial transactions are performed in the My FXOpen Personal Account.
An eWallet account is used when:
- Withdrawing funds
- The user can withdraw funds directly from the eWallet, as well as from trading accounts (through a hidden automated commission-free internal transfer). However, funds cannot be withdrawn directly from the Commission Account . First, you need to make an internal transfer to the eWallet, and then withdraw funds from the Wallet.
- Replenishment of the account
- You can deposit to eWallet or directly to a trading account.
- Transfers between accounts
- Funds can be transferred from eWallet to a trading account and vice versa. If the account currencies do not match, the amount will be converted to another currency.
- Currency exchange between currency wallets
- FXOpen eWallet is a multicurrencyaccount. When you open an eWallet account, there is only one “currency pocket” in it. Wallets in other currencies are created automatically when depositing funds and converting funds. You can exchange currencies using the Currency exchange function.
Go to FXOpen’s Official Website
Why you should verify FXOpen’s eWallet?
EWallet verification is required for:
- Replenishment of the account through most payment systems;
- Withdrawing funds;
- Transfers between accounts.
Verification of eWallet is required to fund your account through any payment system. You can replenish your account only if the eWallet has verification level 2 or higher. Learn more about verification levels.
If you plan to make deposits and withdrawals via credit/debit cards, please provide legible color photographs of both sides of the card. The numbers on the card should be hidden by a sheet of paper as follows: 0000 00XX XXXX 0000. Similarly, hide the CVV / CVC code. Your name and signature must be clearly visible.
To verify your eWallet account, select its type and upload scanned copies of your identity documents. After verification of documents, your eWallet account will receive a certain level of verification and you will be able to deposit and withdraw funds without restrictions.
Required Documents for eWallet Verification
There are 2 types of documents that are required for account verification.
1. Proof of Identity
Passport (national ID, photo driver’s license, military ID, or a copy of any other photo ID). The document must expire no earlier than three months from the date of upload.
2. Documents confirming the address
confirmation of the address of permanent residence at a given time: passport page with the registration address (another registration document), electronic copies of invoices for payment for utilities, bank statements or other documents indicating the actual address of residence. The documents are considered valid for 3 months from the date of their issuance.
To change incorrect registration data (email address, address, phone number), send a request with a detailed explanation of what data needs to be changed to FXOpen. Provide your account number and attach new electronic copies of the same or another document proving your identity. The data will be changed within 24 hours.
Go to FXOpen’s Official Website
4 Levels of eWallet Verification with FXOpen
Level 0 Verification
Unverified account.
Level 1 Verification
Phone number verification by SMS or operator call.
Level 2 Verification = Level 1 + verification of identity documents
- Verification of the phone number by SMS or operator call;
- Verification of identity documents 1: identity document and proof of address (uploaded in the My FXOpen account or through a third-party API service);
- Selfie with an identity document.
Level 3 Verification = Level 2 + verification of the phone number by SMS or operator call
- Verification of the phone number by SMS or operator call;
- Verification of identity documents 1: identity document and proof of address (uploaded in the My FXOpen account or through a third-party API service);
- Video verification through a third-party API service.
Level 4 Verification = Level 3 + postal credentials or personal identification
- Verification of the phone number by SMS or operator call;
- Verification of identity documents 1: identity document and proof of address (uploaded in the My FXOpen account or through a third-party API service);
- Video verification through a third-party API service;
- Certification documents sent by mail to one of the offices, or personal identification.
How to complete the Level 1. phone verification
To verify your phone, do the following:
- In the Level 1 section of the Account Verification page, enter your phone number and click the SMS button.
- Enter the verification code sent to your phone and click the Confirm button.
If you do not have a mobile phone or you have not received an SMS with a confirmation code, you can verify your phone through an operator call.
Go to FXOpen’s Official Website
How to complete the Level 2. account verification
Before starting the verification process, prepare all the required documents.
1. Proof of identity (one of the following documents):
- Passport;
- National ID-card;
- Driver’s license.
2. Proof of residential address (one of the following documents):
- Utility bill;
- Bill for home Internet, cable TV or landline phone;
- Tax return;
- Municipal tax invoice;
- Residence certificate issued by an authorized state body;
- An identity document with the indicated residential address.
The photo should be bright and clear, all edges of the document should be visible.
Upload a photo of both sides of the document if it is double-sided.
Make sure the photo is free of glare and smudges. Low-quality images will not be accepted by the system. The file must be in JPG or PDF format, at least 500KB in size.
The document must be valid for at least three months.
FXOpen does not accept screenshots, mobile bills, medical bills, purchase invoices, or insurance statements.
The document must be written in Latin letters or have a notarized translation into English.
The document must show the full name (as on the ID), the owner’s address, and the date of issue.
The photo should be bright and clear, all edges of the document should be visible.
A utility bill or bank statement must be issued no more than three (3) months ago and printed on official letterhead.
All files must be in JPG or PDF format, over 100KB in size. The resolution must be greater than 300 DPI.
How to restore an inactive trading account?
If you do not use a trading account, that is, there are no visits to the account through the trading terminal, using the account number and password, and/or there is no deposit or withdrawal of money from the account within 90 days, the account is considered “inactive” and is archived.
An inactive account can be activated at your request, subject to the full repayment of the debt to the Company (if any). An account activation fee is charged in the amount of 50 USD, as well as a commission for the safety of data and operations on it in the amount of 10 USD for each month of being in the archive.
Funds in an inactive account can only be returned by restoring this account and paying all commissions. Otherwise, the account balance will be canceled.
If you have any questions regarding dormant accounts or their recovery, please contact FXOpen’s Finance Department.
The presence of inactive accounts does not affect the ability to open new trading accounts.
Go to FXOpen’s Official Website
Please check FXOpen official website or contact the customer support with regard to the latest information and more accurate details.
FXOpen official website is here.
Please click "Introduction of FXOpen", if you want to know the details and the company information of FXOpen.
IronFX
Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!