To start with, IQ Broker is a regulated broker and due to this all its clients have to complete verification in order to be able to use the trading platform and make their first deposit. There are 2 types of verification on the IQ Broker: for EU and non EU clients. Below we have discussed both types of verification and provided you with simple instructions on how to go through the verification procedure.
IQ Broker Verification for EU clients
IQ Broker Verification for EU clients is different from verification for non-EU clients and it may take more time to go through it. However, it is not very hard to complete it. Let’s go directly to the verification itself.
Once you create your IQ Broker trading account, you firstly should confirm your E-mail. After you confirm your E-mail, you will have to answer some verification questions and fill in your personal details. In order to do that, you should click on your profile picture, which is located at the top right corner. The drop-down menu will open, where you will need to click on “Fill in personal details”.
You will be redirected to a Verification tab. Where you will be asked to fill in your personal details.
Iq Broker Personal Data
There is nothing to be worried about, because all your personal data will be kept in strict confidence and will not be disclosed to third parties. So to complete this step, you have to
- Enter your Name.
- Then, enter your Last Name.
- Select your sex.
- Enter your Date of Birth.
- Then, write down your postal code.
- Enter your address of residence.
- Next, in case you are a US reportable person, you must put a tick. Thus, if you are a US resident/citizen or you have a US taxpayer or postal/residential address/phone number in the US or if you receive any orders to transfer funds to an account that is registered in the United States, you must put a tick. However, if you have nothing from the listed above, you should not put a tick.
- Finally, when entered all your personal details, click on the Save & Continue button.
11. After that, click on the “Continue” button.
TIN for Iq Broker Traders
Once you enter and save your personal details, you will then need to confirm your TIN. TIN is your individual Taxpayer Identification Number. Your local tax authority can provide this tax processing number. You are ought to confirm your TIN for tax purposes. In order to complete this step, you need to:
1. Select the country in which you are a tax resident.
2. Then enter your TIN number.
3. Lastly, click on the “Save & Continue” button.
Trading Experience on Iq Broker & Strategies used.
After the completion of TIN step, you will need to answer how are you planning to use your IQ Broker trading account. So to complete the final step, you should:
1. Choose one of the options, which will be the answer to the question above. You have to answer this question so IQ Broker can ensure that the products you will get access to are the ones matching your expectations and needs as a trader. In other words, IQ Broker have to make sure you won’t buy products which are not compatible with your needs and trader profile. The main thing you have to keep in mind is that you must not trade with funds that you are not able to afford to lose or put at risk.
2. After you select one of the options, click on the “Continue” button.
Iq Broker Economic profile & Appropriateness test
Then you will need to complete a small questionnaire.
You will have to answer these questions:
1. Your investment appetite
2. Your annual income
3. Net wealth
4. Anticipated annual investment amount
5. How are you going to deposit funds to the platform?
6. Source of funds
7. After you answer all questions, click on the “Save & Continue” button.
Iq Broker Appropriateness Assessment
Once you complete the economic profile, you will be asked to complete the appropriateness assessment, where you will also need to answer a few questions:
1. Educational background
2. Employment status
3. Do you have specific qualifications related to trading?
4. How many years of experience do you have trading with Options?
5. How many years of experience do you have trading with Forex & CFDs
6. How many years of experience do you have trading with Cryptocurrencies
7. The types of service you are familiar with:
8. What was the average annual amount that you invested in CFDs, Options and other derivative products?
9. Which is more risky?
10. Which is more risky?
11. Trading cryptocurrencies is riskier than trading the EUR/USD pair because
12. A “Put” vanilla option on currency pairs gives
13. Buying an “out of the money” option means that
14. A trader buys a vanilla option on its
15. What is the meaning of “Maintenance Margin”
16. After you answer all the required questions, click on the “Save & Continue” button.
Once both of the questionnaires are completed, click on the “Continue” button.
Iq Broker Proof of Identity
Now, you will need to prove your identity by submitting a necessary document, which can be a passport, identification card or driving license. You may submit a scan or a photo of any of these three documents. When uploading a photo of the document, make sure all your personal details are clearly visible. The photo must not be blurred or cropped. Moreover, if you upload your identification card or driving license, you have to take a photo on both sides of these documents, whereas if you submit your passport, you should take a picture of the page with your photo only. In addition, make sure that the document you are submitting is current and not expired.
Iq Broker Address Of Residence
Furthermore, you will have to verify your address of residence. In order to do this, you can submit a scan or a photo of any of the four documents: bank statement or credit card account, utility bill (telephone, water, electricity and others), tax statement or a document from the municipality, which confirms your address. These documents must be issued in your name and the document from the municipality should be with an official stamp. The same requirements for pictures apply here: the photos should not be cropped or blurred, all the information should be clearly visible.
IQ Broker Verification for non EU clients
The verification process for non EU clients takes less time to complete and it’s actually pretty easy to go through it.
Once you register on the platform, you will firstly have to verify your Email. After you verify your Email you will need to go to the IQ Broker homepage again and click on the “Verification”. You will be redirected to the “Verification” tab
Iq Broker Personal Data
First of all you will need to enter your personal details. This step very quick and and easy:
1. Enter your Name
2. Next enter your Last name
3. Choose your sex
4. Fill in your date of birth
5. Next, select your citizenship
6. Enter your city
7. Then enter your Postal Code
8. Write down address of residence
9. Next, put a tick if you are a US reportable person. Therefore, in case you are a US citizen/ resident or you have a postal/residential address/phone number in the US or a US taxpayer or if you receive any orders to transfer money to an account which is registered in the U.S, you have to put a tick. Nevertheless, if you have nothing from the above mentioned, you don’t need to put a tick.
10. Lastly, click on the “Save & Continue” button.
11. After you fill in all your personal data, you will need to click on the “Continue” button.
Iq Broker Proof of Identity
Once you finish with the “Personal data” step, you will need to verify your identity. In order to do so you will need to submit a document which can prove your identity. You may submit a photo or a scan of your passport or identification card or even your driving license. Make sure that when you upload your documents, all your personal data is clearly visible. What’s more, it is highly important that the photo you are submitting is not cropped or blurred. In addition, if you submit your passport, you have to take a photo of the page with your photo only, however if you upload your id card or driving license, you must take a picture on both sides of the document. Also make sure the document you are uploading is not expired.
After you submit your documents and they are approved, you will complete the verification procedure and you can finally make your first deposit!
Iq Broker Email Verification
Once you register on the IQ Broker Trading Platform, you must verify your Email. Right after you register, IQ Broker will automatically send you a letter with your confirmation code. Thus, you should go to your email inbox and find a letter from IQ Broker. Open this email and click on the “Confirm Email” button. Your email will be verified.
Or you can copy your confirmation code and enter it directly on the platform.
Iq Broker Phone Verification
In case you didn’t know, you may use your phone number in order to register on the IQ Broker trading platform. If you used your phone number when registering, you will need to verify it. Once you sign up, the sms with verification code will be automatically sent to you.