Verifying your BDSwiss account is very easy. You only need to follow several steps and upload two types of documents. Here's the full tutorial.
A few years ago, we mainly surfed the internet to seek entertainment, but today, almost everything can be done online. Traders don't need to make phone calls to open trades anymore. Instead, they can simply make a trading account and execute the orders from the comfort of their homes. The payments are easily made via bank cards or electronic wallets. However, this also raises the concern of forex scams. To avoid losing money to some fraudsters, you need to follow some crucial safety rules.
As a regulated broker, BDSwiss highly encourages traders to complete the verification process as soon as possible. Once your account is verified, you will be able to access all products and get all the benefits on BDSwiss' platform.
This is important because if your account is still unverified, your activities would be very limited and you won't be able to cash out any of your funds. Also, keep in mind that you need to complete the verification process within 30 days after your first deposit as per the broker's policies.
The BDSwiss verification process is fairly straightforward. Here is the full guide on how to verify your account in BDSwiss.
Required Documents for Verification
To complete the verification process of a BDSwiss account, you have to provide a copy of several documents. There are two types of documents that you need to provide:
Proof of Identity
To confirm your identity, you may choose to provide one of the following document types:
- Passport (most preferred)
- National ID Card
- Driving License
- Other Government-issued ID
The document has to be valid (not expired) and must contain your full name, date of birth, a clear photo, and issue date. All of this information has to be present and visible. Do not crop the document so all four corners must be shown.
Proof of Residence
To verify where you live, here are the documents that the broker accepts:
- Utility Bills – Electricity, Gas, Internet, Telephone
- Bank Statement
- Credit Card Statement
- Bank Reference Letter
- Tax Letter
- Council Tax Bill (for the current year)
- Social Insurance Statement
- Government-issued Certificate of Residence
- Notarized Affidavit of Residence
The document must be issued in your name and the issue date must be less than 3 months prior. It must contain your full name, current residential address, issue date, and the issued authority (a financial institution, government, utility company, or judicial authority). If the document is available online, BDSwiss also accepts the PDF file or a screenshot.
BDSwiss Account Verification Steps
- The first step to verify your BDSwiss account is to open BDSwiss' official webpage and click "Log in".
- Enter your email address and password to get into your secure client area.
- On your dashboard, click "Settings". If you are unverified, you may notice the little red icon that signifies you haven't completed your BDSwiss profile. You can also see your account status at the top.
- Click on "Personal Profile" to start verifying your account.
- In this section, you will need to provide information about your personal contacts and economic profile. Please answer all the questions from BDSwiss truthfully.
- Next, upload the documents by hitting the "Verification Documents" button.
- Choose the document type and upload the file in the appropriate field, then wait for the BDSwiss approval. This usually takes about 24-48 hours.
- In the meantime, click on the "Appropriateness Test" to showcase your knowledge in trading. This information will help the broker identify what type of trader you are.
- All done! Now your account verification status is pending. The broker will notify you once the process is finished.
Bottom Line
All in all, it's safe to say that account verification is absolutely necessary to keep your money safe from scammers. Thankfully, the BDSwiss account verification is pretty standard and so verifying an account in BDSwiss is very easy to do. You can even verify your account using the broker's mobile app and scan the document directly through your smartphone. Pretty neat right?
Just keep in mind that verification is needed for security purposes, so make sure to use only valid documents. In case you register using a fake name or address, your account will automatically be rejected. Also, note that if one or both of your verification documents have expired, you will be required to provide a copy of the updated version.
BDSwiss broker is one of the top companies established in 2012 that has served no less than one million clients from 180+ countries. It offers various trading services, starting from diverse tradable instruments, trading tools, account types, and educational content. Not only that, the broker also offers fast account opening and reliable 24/5 customer support for all clients.
5 Comments
Nov 28 2023
Will I get into serious trouble if I delay the verification process? I just don't understand why this step is so important for traders and why is it mandatory to make withdrawals. Email or phone verification I can accept, but uploading a copy of personal documents like national ID and passport? Also, I'd like to know if there are trusted brokers out there who don't require their clients to complete KYC. I'm not a big trader, so I'm not planning to put a whole lot of money in my trading account. I just want to trade quickly and peacefully.
Nov 30 2023
Hello Eva. I will try to answer your question.
First of all, your concern is totally valid. No one wants to be a victim of identity theft or any kind of digital crime. But the thing is, this is exactly what KYC procedure is trying to tackle. By confirming the validity of your information, you are helping the broker create a safe community to trade in. You should be very selective when it comes to choosing the broker though. Brokers that are regulated by well-known regulators are considered safe. They operate under strict rules and they won't abuse your information for personal gains, so you don't need to worry about that. The process can take up to a few days, but in my opinion it is totally worth the benefits that you'll get afterwards.
In case you haven't read the full article, verified users will get access to the full feature offered by the broker, including the ability to make instant withdrawal, unlimited deposits, and more. In BDSwiss, you have 30 days to complete the process. If you fail to do so, your account might be frozen or even deactivated. So yes, you will get into trouble if you delay the process for too long.
I'm not sure about your second question though. As far as I know, verification is required in all regulated brokers because it is part of the standard law. If you stumble across a company that does not require verification then it's most likely to be an unregulated offshore broker.
Dec 2 2023
I know many traders who trade with unregulated brokers and their money is relatively safe, at least until now. These brokers usually don't require verification. If you ask these people, they might tell you that their brokers are great because they're cheaper and more accessible. However, I must warn you that there is no guarantee about their safety. Are they going to remain reliable in the next few years? No one knows.
I'm not saying that all unregulated brokers are frauds, but their lack of accountability makes it easy for them to engage in malicious activities that will cost you a fortune. To put it simply, it's high risk. There is no guarantee that your funds are kept safe or your information is secure under their watch. Not to mention if you got into dispute with the broker. You'll get no backup nor fair judgment from regulatory agency.
Nov 29 2023
I searched it up and found that BDSwiss is regulated by a number of authorities including the Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), the Financial Conduct Authority (FCA), MiFID passporting system, and the list goes on. Actually, I'm no expert in trading but I must say it's pretty impressive. I've read an article about broker regulation and apparently, obtaining a license from one authority is hard enough (and costly). So brokers that are regulated by multiple entities are certainly worth to check out.
Anyway, this is my first time learning about trading account verification. Surprisingly it's not much discussed in articles about how to open a new account even though it's important. It is mentioned in this article that the process is also available on the mobile app, but is it any different from the desktop version? Are the requirements all the same?
Dec 1 2023
Yup, the process is pretty much the same. You'll need to upload two types of documentations to be approved and verified by the broker. Of course, the steps are slightly different but it's nothing to worry about. BDSwiss has a nice and easy-to-use mobile app, you won't get lost in it.
Simply click "More" on the bottom right, then choose "Documents". You can then upload your files or scan the docs directly from your phone. Choose the document category (proof of identity, proof or residence, or payment documents), then select your country where your ID was issued, and select your document type. If you choose to scan, you will need to give the app permission to access your camera first.