The AvaTrade account verification process confirms the identity of new clients and users on the platform. Founded in 2006, the online broker is regulated in more than 9 countries and global regions. The broker is responsible for confirming identity to comply with major financial regulators, including the CBI, BVI FSC, ADGM, FSA, and other agencies. As a new client, you must perform KYC verification when opening an account. These security procedures prevent platform abuse, spam accounts, and fraudulent activity. In this post, we’ll cover the entire AvaTrade real account verification process and KYC requirements.
AvaTrade New Account Opening & Verification
First of all, open your AvaTrade trading account online and then complete the verification process. The AvaTrade account type creation process is always free of charge; you can sign up faster using a Gmail account.
To create your trading account and verify it, follow these simple steps:
- Click this link, enter your email address and password, and hit “Create My Account”.
- Fill in your employment information, savings, and income status.
- Answer basic questions inquiring about your trading experience, knowledge, and goals.
- Upload a copy of your ID card, driver’s license, or passport to verify your identity, plus a copy of a recent utility bill or bank statement as a proof of address.
- Complete the trading experience survey, which is a standard procedure to check your financial and risk management knowledge about trading.
- Select your trading account type and a base currency.
- Finally, fund your account with a minimum deposit of $100.
Note that uploading the proper documentation is required for account funding. With clear documentation, the platform can verify your identity and residency faster. If your verification failed, it may cause your AvaTrade account to be blocked or closed. Indeed, Avatrade offers an easy-to-follow account creation and verification process. When your account is verified, experienced traders will find even more reasons to have an AvaTrade Professional Account with better trading features and higher leverage.
AvaTrade Account Status Not Verified
Check whether AvaTrade account KYC verification status is verified or not. AvaTrade dashboard shows the clear status of your account verification. You can navigate to the upload documents tab on your account page to check. AvaTrade team reviews the document within one business day once you upload the documents. Once your documents are reviewed, the status will update on the dashboard whether it is approved or rejected. The approved documents status is shown in a green check mark next to the documents tab. You need to re-upload the corrected documents if you see a rejected status. The dashboard also mentions the reason for the rejection to ensure you can correct and resubmit. You need to verify your account within 14 days of your first deposit. Surely, review your AvaTrade account documents & compliance status to know if it’s verified.
Process to Upload KYC Documents
The AvaTrade document upload process is simple and straightforward. If you haven’t created an account yet, sign up for AvaTrade deposit bonus offer. You can use AvaTrade partner code “201329” to get the latest offer. Once in the account dashboard, simply navigate to the “Upload Documents” section. Choose the type of document you are uploading. AvaTrade requires 2 types of KYC documents:
- Proof of Identity (colored copy of government ID)
- Proof of Residence (statement with address and name)
Click on the paper clip icon and select the document from your computer. Make sure the document is clear and easy to read. This will help the verification team approve the account. Once the documents is uploaded, you will see icon change to uploaded. Typically, uploads are processed in 1 business day. However, rejections can take as long as 14 business days to reflect in your account status.
AvaTrade Account Opening Document Requirements
To open your AvaTrade live account, you must provide several authentic, genuine documents. These documents confirm your identity, address, jurisdiction, and tax status. First, the KYC process requires a valid proof of identity. For ID documentation, you can provide any one of the following:
- National Passport
- Government Issued ID Card
- State or Territory Driver’s License
- Foreign Passport
- National Photo ID
- City Issued Identification Card
- Military or State ID Card
- Unique Personal Identification Number
- National ID Voting Card
Next, provide a legitimate proof of address and residence. These documents have several options to show your country and local location.
- Bank Account Statement
- Credit Card Statement
- Local or State Tax Bill
- Local Phone Bill
- Internet or Cable Bill
- Utility Bills including Water, Electric or Gas
- Letter From Your Local Government
Since AvaTrade is trusted and regulated in certain countries, you can receive additional benefits depending on your geographic location. The broker does not accept documents related to medical, university, or business contracts. Additionally, new users may be required to provide Taxpayer Identification Number (TIN) documents depending on their country and tax regulations.
How Long Does Account Verification Take?
Review how long AvaTrade account documents & compliance verification takes. Once you upload the documents, you can see the submit date and time along with the ‘Waiting for Review’ status. AvaTrade team usually review and process the documents within one business day (Saturdays & Sundays are not business days). Make sure you have uploaded all documents using my account page to prevent delay in verification. Once the AvaTrade team review the documents, the status will be updated to approved or rejected. Definitely, check how long AvaTrade account verification process takes before opening your account.
AvaTrade KYC Verification Process
In order to deposit or withdraw, the new account must be verified and confirmed. AvaTrade follows a clear Know Your Customer (KYC) process to protect legit clients and avoid potential illegal activities. Depending on the region, you may have to provide additional documents to fulfill the KYC protocols. For example, certain regions require:
- Double-sided color copy of credit card
- Both parties information (in case of third-party deposit)
These KYC measures are one-time actions to prevent fraud, money laundering (AML), and counter terrorist financing (CTF). Once KYC passed, you can deposit using a variety of methods including AvaTrade credit card, wire transfer, e-payments and more. Certainly, follow the AvaTrade KYC/AML requirements and confirm that your country is supported by the platform.
