Guide you to the easiest eToro account verification operation.
In particular, we have taken note of each phase of implementation. Read the gloss carefully to verify your eToro account without errors. This will make it convenient for future transactions.
1. Why do you need to verify your eToro account?
You need to verify your trading account.
- To provide you with the best possible service and comply with financial services regulations.
Which account managed by eToro is subject to the financial regulations of that country/region. For example: eToro (UK) Limited, eToro AUS Capital Limited, eToro (Europe) Limited, eToro USA LLC…
- Your information is always kept confidential and is only used for compliance purposes.
- To avoid any account limitations, including, but not limited to, trading, withdrawing funds and closing the account, all clients should be verified as soon as possible.
- At any time, eToro may request additional identification documents by following the regulations.
2. Complete the information profile
Step 1: Personal information
When you first click on the Complete Profile button on your live account, you will be taken to a pop-up window.
Enter your personal information, including your full name, gender, date of birth, address, and national insurance number.
Step 2: Experience and knowledge of trading
Next, you will be asked about trading and your personal trading experience. Of course, you need to be honest with your answers to comply with the registration process
However, to ensure the exclusive use of eToro’s trading features, the Trading Experience section should not be set to the lowest level or tick the “Never Traded” box. The same applies to the following windows.
This helps the account not to be judged by eToro for inexperience and limits certain features such as copying eToro’s trades. This limitation of eToro is to ensure the level of risk for clients who do not have much knowledge and experience.
Step 3: Financial status
Next is to declare your financial status. This information helps eToro to know the source of your money to invest on the platform, avoiding money laundering.
Some accounts may be required to provide additional proof of income. So, please fill in the facts and make sure you can provide documents to prove the completed information.
Not all accounts are required to provide, only accounts with information that needs further clarification.
3. Account verification
Step 1: Verify your phone number
After doing this, you need to verify the phone number, which is simple. You will receive a code and enter it on the eToro website.
If you don’t receive the VERIFICATION CODE via SMS, change to choose to accept the call verification code.
Step 2: Verify your identity and address
Currently, eToro applies two ways to verify your account.
- Method 1: Automatic Verification System
eToro is using a new identity verification system through a centralized information system. If your information is on this list when verifying your account, enter your identification number without uploading documents to verify your identity and verify your address. Just verify your phone number and agree to the terms, and you’re done.
With method 1, eToro can request additional POIs and POAs later.
- Method 2: Download identification documents
If you are not in the banking information system or bypass the automatic verification step, you will need to upload the documents yourself to verify your identity and verify the address. Please see the accepted document types for verification here.
Step 3: Personal Tax Identification Number
The individual tax code depends on the country in which you reside. Enter your tax code.
Step 4: Accept eToro’s terms and conditions
Finally, you will have to accept eToro’s terms and conditions. Read them, and then click Read and Accept.
The verification process can take a few days, and you’ll be notified once your account is verified. You can also follow your verification status on the eToro platform.
Meanwhile, you can still make a deposit, which also helps your account get verified faster.
Verified accounts have a green check mark next to the username on the user’s profile.
If your documents are rejected, eToro will send you an email with a clear explanation of what you need to provide.
Add eToro to your list of “safe senders” in your email settings to avoid losing your email.
To sum up, verifying an eToro account is a simple process and takes no more than 10 minutes in total to complete. Therefore, traders on eToro are advised to verify their accounts as soon as possible.