Why do you need my identification and banking information?
First of all, we cannot accept any payments or send any payments back to you if you do not provide us with your banking details.
Of course, you can only trade with Safe IG or any other online broker when you deposit funds in your account.
At the same time, you have to realize that the financial industry has some strict guidelines for online brokers to follow. There are certain pieces of information that you have to provide us for opening an account with us. Rest assured that this information is taken from you only for your safety. Some information is required under the AML legislation (anti-money laundering).
Once we have your banking and identification information, we can make our system secure by not letting anyone else sign up with your banking and personal information. Unsurprisingly, the online trading industry sees such identity frauds more often than not.
Here are some important pieces of information and documents that you have to provide us with in order to open your trading account successfully. The following information has to be provided by you for processing your withdrawals and deposits.
- A photocopy of your passport, driver’s license or ID card (please photocopy both sides of the documents when the need be)
- A copy or scanned copy of the credit/debit card you will use for transaction (show only the last and first four digits of the credit/debit card number and copy the back as well while hiding the CVV)
- A scanned copy of a gas or electricity or any other utility bill with your house number and name appearing on it
- Bank documents that prove that you are the owner of the credit or debit card information you have provided
It is highly recommended that you provide these details as soon as you sign up with us. However, you can always delay the process until you have to make a withdrawal from your account. At that point, it is impossible to withdraw any money if we do not have these details.