Verification is a confirmation of your identity and means of payment (for example, bank cards). User verification is required by financial market regulators and payment service providers. This is a standard procedure all trading platforms use. We ask every Binomo trader to go through verification at some point. Once verification is requested, funds withdrawal will be restricted until the trader is verified. The good news is, it usually takes us less than 10 minutes to verify a user.
Apart from being a law-enforced requirement, verification also helps protect your funds. Should the account be stolen, verified users will have a chance to get their funds back.
Please note that you can pass the verification only since we’ve sent you a request. This process is automatic and usually requested when you withdraw funds from your Binomo account.
You can find full information regarding user verification in the Client Agreement, paragraphs 4 and 5.