Passing the FxPro identity check first time

Which documents pass first time

A clear, full-page colour photo or scan of your government ID passes first time; a cropped, glare-covered or black-and-white copy is the usual reason for a rejection. The name and date of birth on the ID must match the application exactly, including middle names and spelling. If you have both a passport and a national ID, the passport is the less ambiguous document because it carries your name in one format.

For proof of address, a bank statement or utility bill showing your name and address as entered on the form is what passes. The address must match the application, not an older address you have since left. Documents in a name that differs from the account holder are sent back regardless of how recent they are.

Take the photo on a plain surface in daylight, with all four corners of the document visible and no finger over the text. A screenshot of a PDF is usually rejected; send the original file or a photograph of the printed page.

What sends a document back

Mismatched names, expired documents, missing pages and unreadable images are the four recurring causes of a second attempt. A document that expires during the review is treated as expired, so check the date before you upload. If your name changed, submit the document that shows the change rather than the older ID alone.

Selfies and liveness checks fail when the lighting is behind you or the camera is at an angle. Face a window, hold the ID beside your face if asked, and keep your whole face in the frame. If the check fails twice, stop and contact support rather than submitting repeatedly, because repeated failed attempts can slow the review.

Proof of address is the document most often sent back because the address does not match the one on the application. Update the application first, or supply a document that matches it, rather than sending a second document with a third address.

Why finish verification before the first deposit

Finish verification before you deposit because an unverified account cannot withdraw, and money sent in before the check completes sits in the account while you wait. The minimum is USD 100 or the naira equivalent, and that money is better left in your bank until the account is cleared for both deposits and withdrawals.

Verification also fixes the entity and the leverage you were granted, which is what our margin and position size calculators need to give you a usable number. Running those figures against an unverified leverage assumption is how readers end up sizing a gold position larger than their margin allows.

Keep copies of everything you submitted. If a document is later questioned, having the same file to hand shortens the exchange. Confirm any broker on the SEC Nigeria register of capital market operators as part of your own checks, since FxPro's group licences are FCA, CySEC and FSCA rather than a Nigerian one.

Why the identity check exists and the law behind it

The check exists because Nigerian anti-money laundering law requires financial institutions to know who their customers are before opening an account or processing trades. The Money Laundering (Prevention and Prohibition) Act, the CBN regulations and the SEC Nigeria rules all place customer due diligence obligations on capital market operators. FxPro, as a broker serving Nigerian clients through FxPro Markets Direct Costa Rica Latam SRL, applies these checks to verify that the person funding the account is the same person trading it, which is a core requirement for detecting and preventing money laundering and terrorist financing.

The law requires brokers to collect and verify identity, address and, where relevant, source of funds before the account is fully activated. This is not a marketing step or a formality; it is a legal obligation that applies to every client, regardless of the size of the first deposit. The SEC Nigeria register of capital market operators is the local reference point for checking whether an entity is authorised, and the FxPro entity that serves Nigeria is offshore, so the verification standards you see are those the broker applies under its licensing and anti-money laundering policies.

Verification also protects you as the account holder. When your identity is confirmed, withdrawals can only go back to accounts and cards in your own name, which reduces the risk of unauthorised access or fraud. The same checks make it harder for someone else to open an account using your details. In practice, the check is a gate that must be passed once, and keeping your documents current means later withdrawals and account changes are not delayed by a fresh review when you need the money.

Document mistakes that lead to outright rejection

The most common rejection is a photo that is blurred, cropped or taken at an angle, so the text and security features cannot be read. A document must be photographed in full colour, with all four corners visible and no glare from a flash or overhead light. Black-and-white scans, screenshots of a phone gallery and photos where the document is partly covered by a finger are routinely sent back. The broker's system needs to read the machine-readable zone and match the face to the photo, and poor image quality defeats both checks.

Expired documents are rejected automatically. A passport, national ID card or driver's licence must be valid on the day it is submitted, and some brokers also require a minimum remaining validity. The name on the document must match the name you typed during registration exactly, including middle names and the order of names. A missing middle name, a maiden name that has not been updated, or a slight spelling difference between the ID and the application form is enough to trigger a manual review and a request for a new document.

A proof of address is rejected when it is older than the allowed period, when it is a mobile phone bill rather than a utility or bank statement, or when the address does not match the one on the account. Documents that show a P.O. Box instead of a street address are usually refused. Sending a document that has been edited, with visible cut-and-paste marks or altered text, is treated as a serious issue and can lead to the account being closed rather than simply re-reviewed.

What happens to money sent before verification is complete

A deposit made before approval is received and held, but the account remains restricted for trading and withdrawals until verification is finished. The money is not lost; it sits in the client account while the compliance team reviews your documents. You will usually see the balance in the account, but the ability to place trades on gold (XAU/USD) or any other instrument stays blocked. The broker may also ask you to confirm the source of the funds before releasing the restriction, especially if the deposit is large relative to the information you provided at registration.

If the verification is never completed, the broker will normally return the deposit to the same bank account or card that sent it, after deducting any charges the payment provider applies. That return can take several working days, and it may be slower if the original funding method was a local NGN bank transfer that has to be traced back through the banking system. Deposits made by card or e-payment are usually reversed to the same card or wallet, but the timing depends on the provider, not the broker.

The practical point is that sending money first does not speed up approval. It creates a period where your capital is idle and exposed to no market movement, which is the opposite of what a trader wants. Finishing verification before the first deposit means the account is ready to trade the moment the money lands, and it avoids the risk of a deposit being held while a document is re-requested. The sequence matters more than the speed of the transfer.

The suitability questionnaire and what your answers actually change

The suitability questionnaire is a short assessment of your trading experience, financial situation and understanding of risk, and its main effect is to determine whether the broker can offer you the full product set, including leveraged gold trading. Answers that show limited experience or a financial position that cannot absorb losses may lead to a restriction on certain products or a requirement for additional information. The questionnaire does not change the leverage cap itself, which is up to 1:200 via the offshore entity, but it can affect whether you are allowed to use that cap on your account.

Your answers also feed into the broker's regulatory obligation to assess appropriateness. If you state that you have no experience with leveraged products, the broker may require you to complete educational material or may limit your access to higher-risk instruments. If you overstate your experience, you may pass the questionnaire but later find that the risk of a 0.10-lot gold position, which needs about $85.50 margin at 1:200, is larger than you expected. The questionnaire is not a test to be gamed; it is the record the broker relies on if a dispute arises.

Changing your answers later is possible, but it triggers a review. If your financial circumstances change, such as a new source of income or a reduction in savings, updating the questionnaire keeps your account consistent with your actual position. Inconsistent answers between the questionnaire and a later source-of-funds request are a common reason for extra questions, so it is worth answering carefully the first time and keeping the information current.

Proof of address accepted in Nigeria and how recent it must be

A utility bill, a bank statement or a government-issued correspondence that shows your full name and residential address is normally accepted as proof of address in Nigeria. The document must be dated within the last three months for most brokers, though some accept up to six months. Mobile phone bills and handwritten receipts are usually not accepted. The address on the document must match the address you entered on the account, and it must be a street address rather than a P.O. Box.

Bank statements are widely used because they are easy to obtain from Nigerian banks through online banking or a branch request. The statement should show the bank's logo, your name and the address, and it should be a PDF or a clear scan rather than a screenshot. Utility bills from providers such as electricity distribution companies are also accepted when they show the same details. If you live in shared accommodation and the bill is not in your name, a bank statement in your own name is the more reliable option.

The recency requirement exists because the broker needs to know where you actually live now, not where you lived a year ago. A document older than the allowed period is treated as expired for verification purposes, even if it is otherwise genuine. If your address has not changed but your last bill is old, request a fresh statement from your bank, which is usually available immediately through the bank's app or portal, and submit that instead of an older utility bill.

When the name on the document and the name on the card differ

A mismatch between the name on your ID and the name on the card or bank account used to fund the account is flagged because it suggests a third party may be involved. The broker will usually ask for proof that the card or account belongs to you, such as a card statement showing your name and the card number, or a bank confirmation letter. If the card is in a spouse's name or a company name, the account may be restricted until the relationship is documented and approved by the compliance team.

The cleanest solution is to fund from an account in your own name. A Nigerian bank transfer from an account that matches your verified identity avoids the issue entirely. If you have already deposited from a card with a different name, the broker may return the funds to that card and ask you to re-deposit from a matching source. This is not a penalty; it is a control designed to prevent money laundering and to make sure withdrawals go back to the rightful owner of the funds.

In cases where the name difference is minor, such as a missing middle name or a maiden name, a short explanation with a supporting document like a marriage certificate or a sworn affidavit may be enough. The broker will tell you what it needs, and the review is usually completed once the link is clear. Do not use a card belonging to a friend or relative to speed up a deposit, because that creates a mismatch that can take longer to resolve than simply waiting to fund from your own account.

checked 2026-07-09 · fxscouts.ng/broker/fxpro; forextrading.ng/best-forex-brokers; fxpro.com/about/licences