FxPro Identity Verification: Documents That Pass First Time

Which Documents Pass First Time

A government photo ID passes first time when it is current, shows your full legal name, and the photo and number are readable. A passport or PAN-linked ID is the usual choice for Indian residents. The name must match the account form character for character, including middle names.

Proof of address passes first time when it is recent, shows your name and full address, and is issued by a bank, utility or government body. A bank statement or utility bill in your name at the address on the form is the standard. The address must match what you entered, down to the PIN code.

A selfie or liveness check passes first time when the lighting is even, your face is unobstructed, and the ID is held steady if asked. Avoid glare on the ID surface and avoid a background that shows another person. These are the small things that trigger a manual review.

What Sends a Document Back

A document is sent back when the name does not match the account, when the address differs from the one on the form, or when the image is cropped so that an edge, a date or a number is missing. A utility bill older than the broker's accepted window is also sent back, so use a recent one.

A second common return is a screenshot instead of a photograph or a PDF. Screenshots lose the security features the check looks for. Send the original file or a clear photograph of the paper document, not a screen capture.

A third is a document that has expired. Check the expiry date before you upload. If your ID expires soon, renew it first; a document that expires during the review is treated as invalid.

Why Finish Before the First Deposit

Verification before the first deposit means the account is fully open when the money lands, so you can trade the gold position you planned instead of waiting on a document query. A deposit into an unverified account does not fail, but it sits in a state where withdrawal is blocked until the check clears.

It also protects the withdrawal path. Most brokers, FxPro included, require the account to be verified before any withdrawal is processed. Finishing early means the first withdrawal is a routine request, not a document exercise under pressure.

Use the time before the deposit to run the numbers: the pip value calculator for XAU/USD, the margin calculator at your chosen leverage, and the position size calculator for the risk you intend to take. The verification step is administrative; the trading decisions are the ones that cost money if rushed.

Why FxPro Must Verify You Before You Trade Gold

The check exists because FxPro Markets Ltd. is required by anti-money-laundering law to know who its customers are before accepting money or opening a live account. In India, that obligation flows from the Prevention of Money Laundering Act, 2002 and the rules made under it, which apply to financial institutions and intermediaries. FxPro is licensed by the FCA (UK), CySEC and FSCA — not by SEBI, so the exact rulebook is the one attached to those licences, but the core duty is the same: identify the client, verify the identity, and keep the record. Trading gold on XAU/USD does not bypass this; a 0.10-lot position is still a financial relationship.

The law requires identity verification before the relationship begins, not after it becomes profitable. That is why FxPro asks for a government photo ID, a proof of address and, in some cases, a source-of-funds explanation before the first deposit is credited to a trading account. The obligation sits on the broker, not on you, but the practical effect is that your account stays in a pending state until the file is complete. The reference price of gold, currently around 4275.0, is irrelevant to this step — the check is about who you are, not what you trade.

Verification also protects you in a dispute. If your identity is on file and matches the name on your bank account or card, withdrawals are processed to the same person who deposited. When the file is incomplete, the broker cannot lawfully move money out to an unverified destination, and your own funds can sit locked while the gap is closed. Treat the check as the first risk control on the account, not an administrative hurdle: it is the reason a withdrawal to your local INR bank transfer can be matched back to you.

Document Mistakes That Get an Application Rejected

The most common rejection cause is a photograph that is readable to you but not to the reviewer: glare across the photo page, a corner of the ID cropped out, or a scan so dark that the date of birth cannot be read. FxPro's reviewers need all four corners of the document, the full machine-readable zone and the photograph in one frame. A second common cause is an expired document — a passport or national ID that has passed its expiry date is not accepted, even if it was valid when you opened the account. Check the expiry before you upload, not after.

Name mismatches cause silent rejections. If your PAN card says one spelling and your bank statement says another, the file is flagged even when both are genuine. The same applies to a proof of address that shows a maiden name, a shortened first name, or an initial instead of the full name. Address documents also fail when they are older than the broker's freshness window or when the address line is partially covered by a fold or a staple. Upload the full page, not a screenshot of a mobile banking app, because app screenshots usually omit the issuer's letterhead and the statement period.

File-format and legibility problems are avoidable. A PDF that is password-protected, a HEIC photo from an iPhone that the portal cannot render, or a file above the size limit will be rejected before a human sees it. Take the photo in daylight on a plain surface, keep the document flat, and check that the file opens on your own device before uploading. If a document is rejected, the reviewer's note usually names the specific defect; fix that one thing and resubmit rather than sending a different document that introduces a new mismatch.

What Happens to Money Sent Before Your Account Is Approved

A deposit made before approval is received but not made available for trading. FxPro credits it to a pending client-money position, and the funds sit there until the verification file is complete. They are not lost, and they are not invested in gold or anything else while the account is pending. The practical consequence is that you cannot place a trade on XAU/USD, cannot set a stop-loss, and cannot withdraw to a different destination until the identity check clears. The money is yours, but it is parked.

The deposit is held in a client-money account segregated from the broker's own funds, which is the same protection that applies after approval. What changes on approval is access, not ownership. If you sent the money by local INR bank transfer, the sending bank's name and account number must match the verified account holder; a transfer from a friend's or relative's account creates a third-party funding flag and can delay the release even after your documents are approved. Cards and e-wallets are treated the same way — the name on the payment instrument has to be yours.

If verification fails or you abandon the application, the deposit is returned to the source it came from, minus any charges the payment provider imposes. FxPro does not keep client money because a document was rejected. The delay is the cost: a pending deposit earns nothing and cannot be traded, so the sensible sequence is to finish verification first and fund afterwards. That ordering also avoids the awkward case where a market move you wanted to trade happens while your money is still waiting on a utility bill.

The Suitability Questionnaire and What Your Answers Actually Change

The suitability questionnaire determines which leverage cap applies to your account, not whether you are allowed to trade at all. FxPro offers leverage up to 1:200 for clients generally, and up to 1:500 for eligible traders after an experience and financial assessment. Your answers on trading experience, employment, income and understanding of margin are what move you between those two bands. They do not change the instrument, the pip value of gold — one pip is 0.01 on XAU/USD, with one standard lot equal to 100 oz — or the spread you are quoted.

The answers also set the risk warnings and the default position size limits you see in the platform. A client who reports limited experience will typically be placed in the lower leverage band and may see additional margin warnings before a large order is accepted. That is a protective default, not a penalty. At 1:200, a 0.10-lot gold position needs about $85.50 margin; the same position at a higher cap would require less, but the cap is a ceiling, not a target, and using the full ceiling on every trade is how accounts are wiped out by a normal gold move.

Answer honestly, because the questionnaire is re-checked when you request a leverage change or when your circumstances change. Inflating your experience to reach the higher band is a misrepresentation that can void the assessment and, in a dispute, weaken your position. If your income or employment changes, tell the broker; the assessment is meant to reflect your current situation. The questionnaire is not a test you pass — it is a record of the basis on which the account was opened, and it is read again if a complaint or a re-verification is triggered.

Proof of Address Documents Accepted in India and the Freshness Rule

FxPro accepts a utility bill, a bank statement, a credit card statement or a government-issued address document that shows your full name and your residential address in India. The document must be issued by a recognised institution, carry a date, and show the issuer's name and logo. A mobile phone bill, a broadband bill, a gas bill or an electricity bill in your name all qualify. A rent agreement alone is usually not enough unless it is accompanied by a utility bill at the same address. Aadhaar is accepted as identity, but as address proof it depends on the version and the reviewer.

The freshness rule is the part that trips most applicants: the document must be recent, typically issued within the last three months. A bank statement from six months ago is rejected even if nothing about your address has changed. The date printed on the statement or bill is what counts, not the date you downloaded it. If your statement cycle is quarterly, download the latest one from net banking rather than using an old PDF. The document must show the address in full, including the PIN code, and must not be a screenshot that cuts off the header.

The address on the proof must match the address you entered on the application. A mismatch between the two is treated as a discrepancy and sends the file back. If you have recently moved, update the address in the account first, then submit a document that shows the new address. The same document cannot serve two clients at the same address unless they are genuinely separate residents, and a shared household bill may need a supplementary declaration. Keep the file under the portal's size limit and in a format the portal renders.

When the Name on Your ID and the Name on Your Card Differ

A difference between the name on your identity document and the name on your payment card is treated as a third-party funding signal until you explain it. FxPro's rule is that deposits and withdrawals must move between accounts in the same name as the trading account. A card issued in a shortened form of your name, a card in a maiden name, or a joint card where your name appears second will trigger a manual review. The deposit is not necessarily rejected, but it is held while the reviewer checks that the card belongs to you and not to a relative or an employer.

The fix is documentary, not verbal. Send a card statement or a card image that shows the cardholder name alongside the card number's last four digits, together with your ID, so the reviewer can see that both refer to the same person. If the card is in a maiden name, a marriage certificate or a name-change affidavit bridges the gap. If the card is a supplementary card on someone else's account, it will generally not be accepted for funding, and you should use a bank account or e-wallet in your own name instead. Local INR bank transfers are the cleanest route when names match exactly.

Withdrawals are stricter than deposits. Money goes back to the source it came from, in the same name, so a deposit made with a mismatched card can create a withdrawal problem later even if the deposit itself was accepted. If you have already funded with a card whose name differs, raise it with support before you request a withdrawal, not after. The reviewer can annotate the file so the withdrawal is not blocked, but that annotation has to exist before the request is processed. Keeping the funding name identical to the verified name avoids the entire issue.

checked 2026-07-09 · brokerchooser.com/broker-reviews/fxpro-review/fxpro-india; fxscouts.com/in/broker/fxpro; tradersunion.com