🪪Verification (KYC)

Frequently Asked Questions (FAQ)

To learn how to initiate a verification request - see our short tutorial How to verify your account.

What is KYC?

KYC (Know Your Customer) is a quick identity verification procedure which can be done directly through your Margex account.

Is KYC verification mandatory?

Identity verification (KYC) is generally optional. The verification process helps ensure that the platform complies with international regulatory standards and practices as well as offering traders numerous advantages such as enhanced account security

How is my personal information used? Is it secure?

The safety and security of customers' funds and any personal information is our top priority. Margex ensures that your personal information is encrypted in accordance with the highest cybersecurity standards. Any information that you've chosen to provide is used solely for verifying your identity and will never be shared or repurposed for marketing

How do I start verification?

Simply navigate to the ID verification tab of your account. Make sure to check out our short tutorial: How to verify your account

Which ID documents can be used for verification?

The following government issued photo-ID documents are accepted:

• Passport (National or International)

• Driver's License

• ID card (EU citizens)

Can I verify multiple accounts?

No, each user can hold and verify only one account on Margex. Submitting the same information from a different account will lead to rejection of the verification request and automatic closing of the duplicate account.

Where can I see the status of my verification?

It will be reflected on the ID verification page of your account. Once your identity verification request has been approved - you will receive a notification via email. Your verification status will also be accordingly updated in your account profile menu.

How many times per day can I attempt verification?

Verification application/documents can be resubmitted up to 3 times per day. If you have used all 3 verification attempts you will need to wait until the next day to resubmit your verification info again.

How long does verification take?

Generally, verification requests are completed within a few minutes

Will I be notified of the results of my verification request?

Yes, you will receive a notification via email regarding the status of your request7

What do I do if my verification request is rejected?

Make sure to review your submitted documents, the rejection reason(s) stated in the email notification, correct any discrepancies (make sure that image quality is sufficient and provided documents are valid) and resubmit the application.