When participating in trading in Olymp Trade, one of the things the platform requires traders to do is to verify their accounts. The account verification is part of the trader’s agreement when registering an account in Olymp Trade. So, what is the benefit of account verification for traders as well as Olymp Trade? What is Olymp Trade verification process? All will be answered in this article.
How to do the account verification in Olymp Trade platform
Before going through the account verification process in Olymp Trade, I will answer some questions as follows:
Why is account verification required in Olymp Trade?
Account verification aims to protect your account from illegal activities of financial crime. It also complies with the terms of the contract signed between Olymp Trade and traders. For example, no one under 18 can trade on the platform.
What does the trader benefit after verifying the account?
After your account has been verified, You can safely trade in the platform without worrying about issues. For example,
- Hackers log into and withdraw money from your account. This is a big concern for anyone investing in making money online. Security for the account is always the top concern.
- You will be rejected for withdrawal by the platform due to an unverified account. Without proving that you are the account holder, you can’t withdraw the profit from trading on Olymp Trade platform. This is a mandatory rule.
Olymp Trade account verification process
Prepare documents for account verification
Documents required by Olymp Trade during verification include the following:
- Identity documents. Here you can use one of the following documents:
– ID card.
You need to take a clear picture or a color scan of one of the two above documents.
- Selfie with the personal document above. You need a clear photo of yourself with the above documents.
- Documents for address authentication. Regarding this, you can use one of the following:
– Bills such as the internet, TV, utilities, etc.
– Tax invoice.
– Bank statement with your address.
– Household registration.
The document must contain the address used for registering the account and it must not exceed 90 days.
- A photo of the front of the bank card used when depositing money into Olymp Trade. To ensure, you need to cover a few digits in the card number sequence.
- If you use an e-wallet like Skrill or Neteller to deposit, you need to take a picture of the main e-wallet account page including the account number, the full name of the account holder, and the account’s payment history to Olymp Trade.
Submit your account verification documents to the Olymp Trade support
After all the necessary documents have been prepared, send all photos of these documents to the Olymp Trade support.
You can contact them via live chat or the support email: email@example.com.
Update basic personal information in the Olymp Trade platform interface
After submitting the account verification documents, Olymp Trade will verify them. This process can take up to 5 working days. In the meantime, you can update your basic personal information on the Olymp Trade platform to increase the security of your account.
You should do as follows.
- Select the “Account” section on the interface of Olymp Trade
- Update your Olymp Trade account information
The information required here includes the following:
– Full name.
– Verified email address.
– Phone number.
After verifying your phone number and email, you can use the two-factor authentication to improve your account security.
You can use the 2-factor authentication via your registered phone number or email.
Notes for the account verification in Olymp Trade
– Account verification is only possible when the platform requires verification. That is when the platform is suspicious of financial-related anomalies. They may be money laundering or fraud in trading.
– Account verification may be required again if you use new deposit or withdrawal methods. In addition, authentication is also required if the trader wants to change his phone number or email.
– When the verification is completed, Olymp Trade will send you a notification via email or SMS.
– Once you have received the verification request, you need to upload your documents within 14 days. If you do not provide the required documents within 14 days, access to trading features in Olymp Trade will be restricted until authentication is completed.
Above is a detailed article that guides you through the steps of account verification in Olymp Trade. Leave your questions below if you need any help. Thank you for following up on our articles.