How to Complete Olymp Trade Account Verification in India?
It's important to keep your personal details secure when making financial transactions online, and trading is no exception!
If you've just opened an account on Olymp Trade from India, or if you're about to make your first trade on the platform, you'll need to know how the account verification process works.
The Olymp Trade verification process consist of the following elements:
- Proof of identity
- Proof of address
- A Photo of Yourself (3D Selfie)
- Proof of Payment (If Applicable)
Read our article and learn more about Olymp Trade Account Verification in India.
Why Do You Need to Verify Your Olymp Trade Account?
Before you can start trading on the platform, Olymp Trade requires you to go through a short verification process to confirm your identity and other important details. This is primarily because:
- Any trading platform needs a verification process to comply with financial service regulations.
- This verification process helps Olymp Trade provide Indian users with the best service possible.
If you're worried about sharing personal details and important documents with Olymp Trade, know that the platform keeps this information strictly confidential.
Companies who belong to the investment and financial services industry need these data to abide by Know Your Client (KYC) guidelines and to prevent money laundering and/or other criminal activities from taking place.
When Should You Verify Your Trading Account?
Once you sign up for an account on the Olymp Trade platform, you can start the verification process immediately and complete it within 30 days or do it at a later time.
However, the account verification becomes mandatory and time-bound when you receive an official request from Olymp Trade.
Ideally, you should get verified early on so you can freely use your account on the trading platform.
If you end up receiving an official verification request from Olymp Trade, though, know that it's relatively simple to accomplish, so you won't have to spend too much time on it!
How to Verify Your Olymp Trade Account in India?
Like we said, verifying your account on Olymp Trade isn't too difficult.
Just make sure you prepare all the requirements and go over these steps thoroughly so that you don't encounter any complications later on!
Account Verification Requirements
#1 - Proof of Identity
First, you'll need a POI, an official document proving your identity. This could be a photo of your Indian passport, your driver's license, or any other ID card that has your picture, complete name, and date of birth on it.
Usually, an official ID card or a passport is preferred. These may also get your account approved quicker! If you're unsure, though, you can submit more than one document to be safe.
Here are some additional reminders when submitting a picture of your ID card or your passport to prevent any delays:
#2 - Proof of Address
To verify your account on Olymp Trade, you'll also need to present proof of address or POA in India.
This document should state your complete name, address, and the date of issue. You can submit your utility bill, bank statement, credit card statement, or any other letter with these details on it.
Just make sure that:
#3 - A Photo of Yourself (3D Selfie)
You'll also need to take a special 3D selfie on the platform using your computer's built-in camera. Another option would be to access the Olymp Trade app on your phone and take your photo from there.
Just follow all of the instructions on the site, and you're all set!
#4- Proof of Payment (If Applicable)
Verifying the account after making a deposit entails an additional document: Proof of payment (POP). This proves the legitimacy of your financial transactions on Olymp Trade.
Did you verify your account before depositing? Know that you'll still need to submit this requirement once you've put money into the account using your card, e-wallet, or bank account.
Now, what exactly do you need to show?
All submitted photos or scans must be colored, high-resolution, and complete with the necessary information.
If you used an e-wallet or an online bank account, provide a screenshot of the transaction details as proof. If these don't fit in a screenshot, you can submit multiple pictures instead.
The Verification Process
Step 1: Fill Out the Identification Form
Before anything else, you'll need to complete the identification form by clicking on the identification request on your profile. This will confirm your personal details and safeguard you from potential fraud.
Step 2: Upload Your Requirements
Next, visit the Verification section on Olymp Trade's website, and upload the four documents above.
Make sure everything is complete and properly formatted so that Olymp Trade can review your account quickly.
Step 3: Track Your Verification Status
Once that's done, all that's left to do is wait! Although verification usually takes 24 hours or less, it can extend up to 5 working days, especially if there are complications with your documents.
If you want to keep track of your verification status, you can wait for Olymp Trade's text updates or visit Account Verification on your profile. You'll receive both an SMS and an email as soon as this process is complete!
Frequently Asked Questions (FAQ)
You only need to go through the process again if you change your payment method.
This time, you'll only need an updated 3D selfie and a POP, such as a screenshot of your transaction details using the new payment option.
Once you start the verification process, you'll have 14 days to complete it.
However, if you're verifying your account even without having received an official request from Olymp Trade, you have 30 days.
This should be more than enough time to organize and upload all of your documents.
If you submit incomplete documents, your verification will be delayed.
Although Olymp Trade will probably email you to ask for the missing requirements, it's best to prepare these beforehand and make sure everything's in proper order. This will prevent future complications with your account.
It's possible, but it happens rarely.
If you've submitted all the requirements and have no current issues with the platform, then there shouldn't be a problem.
When trading with an Olymp Trade account in India, don't forget to get verified ASAP!
This quick and simple process will keep you safe AND help you reap all the benefits of an Olymp Trade account.
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