The FxPro identity check, done once

Which documents pass first time

Documents pass first time when the name, the photo and the edges all agree with the application. That means a current government-issued photo ID — an Australian driver licence or passport — photographed flat, in colour, with all four corners inside the frame and no glare across the text. The name on the ID must match the name you typed into the form exactly, including middle names and the order of given and family names.

A second document is usually requested to confirm where you live, and the test is the same: your name, your current residential address and a recent date, all legible. A bank statement or a utility notice in your name works because it carries an address the broker can match; a document addressed to a company or to another person does not, however official it looks. Keep the address consistent with the one in your application — a recent move is the most common reason a document is rejected as a mismatch rather than as a forgery.

Photograph or scan the original, not a printout of a screenshot. The file needs to be readable at full size, which usually means a few hundred kilobytes at least rather than a compressed thumbnail. If your camera adds a date stamp over the text, take the photo again.

What sends one back

A document is sent back when the reviewer cannot match it to the application, and the causes are mundane: a cropped corner, a finger over the document number, a reflection from a ceiling light, an expired date, or a name that differs by an initial. Blur is the single most common defect, and it is caused by photographing at an angle rather than straight down. A second common cause is a document that proves an address you no longer use.

The consequence of a returned document is a delay you did not plan for, and the fix is a fresh photograph rather than an argument. Re-submit the same document type with the defect corrected; switching to a different document to solve a blur problem usually introduces a new mismatch. If the broker asks for something specific, supply exactly that rather than a bundle of alternatives, because a bundle takes longer to review.

Verification is not a trading decision, but it gates one. Until it is complete, deposit and withdrawal routes can be restricted, and the first funding attempt is where an unresolved name or address mismatch surfaces at the worst moment. Treat the check as the last step of opening the account rather than the first step of using it.

Why finish it before the first deposit

Finish verification before you deposit because the deposit is the moment your money and your identity have to agree. A funding route is tied to the account holder's name, and a deposit made while verification is open can be held or returned, which costs you the round trip and the wait. Completing the check first means the first deposit lands against a fully identified account.

There is a second reason specific to Australian readers. FxPro is licensed by the FCA (UK) and CySEC. It does not hold an ASIC licence, so Australian residents deal with an offshore entity — check this before funding. The verification record is the document trail that supports any later query about your account, and it is easier to assemble before money is involved than after.

Once verified, the practical work begins with funding and then with the terminal. Our funding page explains how money reaches the account and how it comes back, including the conversion cost that is easy to overlook, and our position size calculator is ready when you are sizing your first XAU/USD order.

The law behind the identity check: Australia's AML/CTF Act and why FxPro must verify you first

The check exists because Australia's Anti-Money Laundering and Counter-Terrorism Financing Act requires brokers to identify every client before opening an account or accepting money. FxPro UK Limited serves Australian residents from an offshore entity, and it applies the same know-your-customer standard it would apply in the UK. Verification is not a marketing step or an optional courtesy: it is a legal precondition, which is why the account cannot be funded and traded until the identity evidence is on file and accepted.

Gold is a cash-intensive, high-value instrument, and a single standard lot is 100 oz, so an account can move large notional amounts with a small margin outlay. That risk profile is exactly what the legislation targets. Brokers must be able to show who their client is, where the money came from and that the person is not a sanctioned or politically exposed individual. The reference price of about 4275.0 per ounce means even modest position sizes carry meaningful exposure, which is the practical reason the file must be complete before trading starts.

The regulator caveat matters here. FxPro is licensed by the FCA (UK) and CySEC. It does not hold an ASIC licence, so Australian residents deal with an offshore entity — check this before funding. That means the compliance process you meet is the UK entity's, not an ASIC-supervised one, and the documents you supply are assessed under that framework. Understanding that before you upload anything saves you a rejection cycle.

The document mistakes that get an otherwise valid application sent back

Most rejections come from presentation, not from ineligibility. A photograph taken at an angle, with glare across the photo page, a finger over the document number, or a cropped edge that removes the machine-readable strip will fail even when the document itself is genuine. The reviewer needs every corner, every line of text and the full photo page in one frame, in colour, at a resolution where the smallest print is legible. A screenshot of a scan, or a scan of a printout, adds a generation of blur and is a common cause of a second request.

Name mismatches are the second big cause. The name must match the account exactly, including middle names, hyphens and the order of given and family names. A shortened first name on the account, a maiden name on the document, or an accent dropped in one place and kept in another all create a discrepancy a reviewer cannot resolve without asking you again. The same applies to the date of birth and the document's expiry date: an expired passport or licence is not acceptable evidence, so check the expiry before you upload rather than after.

File format and completeness round out the list. Uploading one side of a double-sided identity document, sending a black-and-white copy where colour is required, or submitting a file the portal cannot open all trigger a resubmission. Submit the original document, not a certified copy unless one is specifically requested, and keep the file within the portal's size limit. Each of these is avoidable, and each adds days to the time before you can fund and trade gold on MT4, MT5, cTrader or the FxPro app.

What happens to a deposit sent before the account is approved

A deposit made before approval does not buy you a faster start. The funds arrive and are held against an unverified account, and they cannot be used to open a position until verification clears. In practice the money sits idle while the documents are reviewed, so you take on the delay twice: once waiting for the review and once waiting for the funds to be credited to a tradeable balance. The safer sequence is to finish verification, then fund via PayID or bank transfer once the account is live.

The exact handling depends on the broker's internal process and on how the payment is matched to your account. A bank transfer that arrives without a clear reference can be hard to attribute, which is one reason the funding step comes after the identity step. If the account is ultimately not approved, the return of the deposit depends on the broker's withdrawal process and on the source of the funds, and any currency conversion between A$ and the account currency can affect the amount returned. Do not treat an early deposit as a way to hold a place in a queue.

There is also a compliance angle. Funds received before the client is identified are harder for the broker to reconcile against the source-of-funds story you will be asked to provide. That mismatch can trigger additional questions later, including a request for evidence of how the money was accumulated. Given that a 0.10-lot gold position at 1:200 needs about $85.50 margin, there is no practical advantage in rushing money across before the file is complete. Verify, then deposit.

The suitability questionnaire: what it asks and what your answers actually change

The suitability questionnaire is an assessment, not a pass-or-fail exam, and it is designed to establish whether leveraged gold trading is appropriate for you. It typically covers your trading experience, your understanding of leverage and margin, your financial situation and your stated objectives. The answers do not change the instrument, the platform or the price you see. What they change is the broker's record of whether the product fits you, and in some cases whether additional warnings or restrictions are applied to the account.

Answer honestly rather than strategically. Claiming extensive experience you do not have, or inflating your income and assets, produces a record that no longer reflects your real position. If a loss then occurs, that mismatch is on your file. Leverage is capped at up to 1:200 for Australian clients, and that figure is a cap, not a setting to aim at. At 1:200 a 0.10-lot gold position needs about $85.50 margin, which shows how quickly exposure scales with position size even at a modest lot.

The questionnaire also feeds the risk warnings you receive. A client with limited experience may be shown additional prompts about margin calls and the possibility of losses exceeding deposits in fast markets. Gold at a reference price of about 4275.0 can gap on news, and a stop order is not a guarantee of price. Treat the questionnaire as the point where you decide your own position size and risk per trade, not as an administrative hurdle between you and the market.

Proof of address for Australian clients: accepted documents and the recency rule

Proof of address must be a document issued in your name, showing your current residential address in Australia, and it must be recent. The recency window is set by the broker's policy rather than by a single national rule, so confirm the exact period with FxPro before you upload, because a document outside that window will be rejected regardless of how clear the image is. Residential address only: a post office box is not accepted as proof of where you live.

Commonly accepted documents include a bank or credit union statement, a utility bill for electricity, gas, water or internet, a rates notice from your local council, and government correspondence such as a notice from the Australian Taxation Office or a driver licence that shows your address. Mobile phone bills are often excluded. The document must show your full name and address exactly as they appear on the account, and it must be a statement or bill rather than a screenshot of an online account summary.

Presentation follows the same rules as identity documents: full page, all four corners, colour, legible, and not a photograph of a screen. If you have moved recently, use a document issued after the move rather than an older bill from the previous address. Where a document is jointly addressed, your name must still appear on it. If you cannot produce a bill in your own name, ask the broker what alternative it accepts before you submit, rather than uploading something and waiting for the rejection.

When the name on the card differs from the name on the account

A mismatch between the name on the payment method and the name on the verified account will stop the deposit from being accepted as yours. The rule behind it is simple: the broker must be able to trace the funds back to the identified client, so third-party payments are not accepted. If the card or bank account belongs to a spouse, a parent or a company, the payment is treated as coming from someone other than the account holder, and it will typically be returned or held pending explanation.

The fix is to fund from an account in your own name. For Australian clients that means PayID or bank transfer from an account held in the same name as the trading account. If your bank card shows a shortened version of your name, or a maiden name, the underlying bank account details are what matter, and you may be asked for a statement showing the account name and the link to you. Where a name change has occurred, update the account record first so the two match.

If a mismatched payment has already been sent, expect a request for evidence rather than an instant resolution. The broker may ask for a bank statement showing the source account, and the return of funds depends on its withdrawal process and on any conversion between A$ and the account currency. The clean approach is to verify the account, confirm the name matches your bank records, and only then send money. That avoids the situation entirely and keeps your funding history consistent with your source-of-funds declaration.

Re-verification: why an approved FxPro account is asked for documents again

Re-verification is a routine refresh, not a sign that something has gone wrong. Under Australia's AML/CTF Act, FxPro must keep your customer identification current for as long as the account is open, so it periodically asks for the same documents again — usually a fresh photo ID and a proof of address dated within the accepted window. The trigger is time-based or event-based, and the request can arrive years after the original approval. Nothing about your trading is suspended while the documents are pending unless the request is ignored past its deadline, so the practical response is to send the documents promptly rather than to query why.

The events that trigger a fresh check are the ones that change your risk profile. A new residential address, a name change, a new funding source, a large change in the size of your deposits or a request to reactivate a dormant account will each bring the verification step back. FxPro is also required to re-run the politically exposed person and source-of-funds questions when those circumstances shift, because the answers given at onboarding are only valid for the profile you had then. Treat re-verification as the broker keeping its record honest, which is what the law asks of it.

What you actually need to do is simple: send the document type that was accepted the first time, make sure the address document is recent enough, and check that the name matches the account exactly. If the original documents are now expired, send current ones rather than the old scans. There is no fee for re-verification and no need to redo the suitability questionnaire unless your circumstances have changed. If a deposit is due, complete the refresh first — a payment into an account with an out-of-date verification record can be held while the file is updated, which delays your access to the funds.

Changing your address or name on an approved FxPro account

An address or name change on an approved account is handled by submitting the new document, not by editing a field in the platform. For an address change, FxPro needs a proof-of-address document showing the new address, dated within the recency rule it applies to Australian clients, and the account record is updated once that document is checked. For a name change, the trigger is a new government-issued photo ID in the new name — a marriage certificate, a change-of-name certificate or a reissued passport or driver licence. The old record stays on file alongside the new one, because the audit trail must show both.

The order matters if money is moving at the same time. Update the record before you fund or withdraw, because a payment from a bank account in a name that no longer matches the trading account will be queried, and a withdrawal to a closed or superseded bank account can be held while the mismatch is resolved. The same applies to a changed residential address: a withdrawal is not the moment to discover that the address on file is the old one. Doing the document update first keeps PayID and bank transfer movements clean and avoids a manual review that adds days.

What the change does not alter is the identity behind the account. FxPro is not opening a new account when you change your name or address; it is updating the customer record that the AML/CTF Act requires it to keep accurate. The suitability questionnaire answers you gave at onboarding stand unless your circumstances have changed, in which case you should tell the broker rather than assume the old answers still apply. If you are unsure which document will be accepted for your particular change, ask support before sending it — a correctly dated document in the right name is checked faster than a corrected one.

checked 2026-09-29 · FxScouts, SafeForex, FxPro