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Starting trading on Binomo is a straightforward process. After registering for an online trading account with Binomo, you can begin investing in binary options, cryptocurrencies, CFDs, etc.
Before you do that, you will have to verify your trading account and identity with Binomo. The verification process is simple as you have to upload only a few photographs and some personal information. This article will discuss the Binomo verification process and why verification is significant.
We stop promoting and recommending Binomo anymore after banning our partner’s account for no reason. Choose a better alternative like Quotex or Pocket Option to trade!
Choose the best alternatives to Binomo:
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
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- Free bonuses
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
from $10
(Risk warning: Trading is risky)
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
from $50
(Risk warning: Trading is risky)
What you will read in this Post
How can I verify my account on Binomo?
To verify your Binomo trading account, you will need to verify your identity proof and residence proof. You will also need to verify the debit or credit card you use to deposit and withdraw funds from your Binomo trading account.
The verification process shall initiate as soon as you register for an online trading account with Binomo.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
ID verification
Identity verification is crucial in the situation where monetary transactions take place. At Binomo, a trader shall need to verify his identity so that the broker can make sure he is a legit trader.
You can provide Binomo with a scanned copy of your passport for your identity verification. You can also upload a picture of your identity card to show the broker that you are a legit person.
However, if you are using an identity card other than your passport, you should ensure you upload a scanned image of both sides of the card.
If you wish to trade with Binomo, you cannot skip the identity verification part, as it is mandatory for all traders. After registering for an online trading account and choosing the currency to trade, you can proceed with the ID verification. The ID verification ensures that the trader is of the legal age to trade online.
In some cases, Binomo can also ask you for additional information to prove your identity. It can ask you for your utility bills, bank statements, or other document proving your identity adequately.
That, however, gets done when the documents you provided for identity verification are not sufficient. Binomo will ask you for these additional documents when it can’t confirm your identity through the identity proof you provided.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
Residence address verification
All trading platforms, including Binomo, ask their clients for a residence address verification. You can verify your residence address by uploading a scanned copy of your residence proof. You have an option among the following documents.
- Bank statement
- Tax statement
- Utility bill
- Official document with the municipality’s stamp
If you upload a scanned copy of your utility bill, you can have your pick among your phone bill, electricity bill, water bill, etc. The document should mention your residence address so that the broker can verify your residence proof.
The document you upload should also have your full name on it. However, ensuring that these documents are not less than six months old is a must for you.
A bank statement will also serve the purpose of residence proof verification. Make sure that your bank statement has a logo and the seal of your bank on it.
Though you can upload any of these documents, you should make sure that all their information is visible. Otherwise, you might have to restart the entire verification process again.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
Credit or debit card verification
You will also have to verify whether the debit or credit card you use for funding your account is yours or not. According to the Binomo policy, you cannot use a credit or a debit card that belongs to someone else. You cannot even use someone else’s bank account to deposit or withdraw funds. Any payment method you use should solely belong to you.
For your debit or credit card verification, you need to upload a scanned photo of both sides of the card. The scanned copy should mention the cardholder’s name. You can use any photo editor app to hide the last numbers of your credit card. If it is convenient, you can also use a piece of paper. After verification of your payment method, you will be able to deposit or withdraw funds from your Binomo trading account.
Requirements for Binomo verification
Binomo account verification requires that you upload:
- A clear and a visible photo
- All images without any shadows or obstructions or reflection
- A picture equal to or less than eight megabytes in size
- Pictures in JPEG or PNG format.
Once you upload all the essential documents with Binomo, you can check the verification status by logging in to your account anytime.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
Why is it essential to verify your Binomo account?
If you wonder why one should go through the hassle of verifying their account, it helps the broker establish your legality. If you wish to trade with this popular online trading platform, you have to complete the verification process.
Once you register or sign up for an online trading account with Binomo, your trading account gets credited with a bonus. You will not be able to use this bonus if your trading account or your identity does not get verified. You will also not be able to deposit or withdraw funds from your trading account if you do not verify your credit or debit card or any payment method you wish to use.
To enjoy the benefits of trading, a trader has to verify his personal information with the broker.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
Can you use Binomo without verification?
Verification is also a part of the broker regulation as they are legally bound to verify your identity. It is also crucial so that the broker can confirm whether the trader is above eighteen or not. To protect itself and all the other users from fraud, Binomo takes pride in verifying the identity of its users. Therefore, you cannot start trading in it without completing the verification process.
How long does Binomo take to verify?
Binomo does not take much time to complete the verification. After submitting all the requisite documents, Binomo will take only some time to verify the same. But, don’t worry. It will not be longer than 1-3 days.
Conclusion – The verification process on Binomo is simple
Identity verification on Binomo does not involve much hassle as you can complete the process within a minimal time. You only have to upload scanned copies of a few documents, and you are ready to trade on Binomo.
You can upload scanned images of your passport/ ID and credit/debit card to verify your identity with the broker. You need not be concerned about giving away your personal information to Binomo, as the platform ensures to take care of your privacy.
So, if you wish to trade on Binomo, you can register today and verify your information with Binomo.
We stopped promoting Binomo, there are better alternatives for you!
(Risk warning: Your capital can be at risk)
