An Exness account needs to be fully verified before all trading functions are made active and deposit limits are completely lifted; this is why completing this process is encouraged. However there are multiple reasons this process is so important for you and Exness.
The major reasons the Exness account verification process is important include:
Account security is a very important reason that the account verification process is essential, in that no one would feel secure if anybody could use their identity or funds to make trades, commit fraud, or even identity theft. Knowing that only the account holder has the access and ability to make trades ensures financial security and agency is afforded to our traders.
In order for Exness to continue to remain compliant and regulated, a strict verification process is a requirement. Exness is regulated by numerous financial regulatory organizations worldwide, and the standards set by these bodies must be adhered to in order for Exness to operate. Further, regulatory bodies provide our traders the peace of mind that Exness is a legitimate operation that takes steps to protect and facilitate its traders according to the law.
In order to understand the needs of our traders and improve services, accurate data is essential. For example, if a lot of traders start to register from a certain region of the world, we can see this from registration data and begin to improve our Support teams’ ability by providing new languages or offering new payment systems exclusive to this region. This is made possible only by the accurate data provided through the account verification process.
As per the Exness Service Agreement:
Client information kept by the Company is treated as confidential and will not be used for any purpose, other than in connection with the provision, administration and improvement of the Services, for research, statistical, marketing purposes.
This ensures that your privacy is protected and data will never be disclosed to third parties outside of Exness.