The FxPro identity check, done once

Which documents pass first time

A document passes first time when it is current, legible and shows the same name, date of birth and address that you typed into the form. The broker asks for an identity document and a proof of address, and the standard that matters is consistency rather than which specific paper you choose.

For Ghanaian readers the practical point is the address document: it must be recent enough for the broker's own rule and it must carry the address you entered at sign-up. If you registered from Kumasi but your utility bill shows a family house in another region, the file is likely to be queried. Upload what matches the form, not what is nearest to hand.

Photograph or scan the whole document, all four edges included, with no glare and no crop. A partial image is the single most common reason a document is rejected even when the document itself is perfectly valid.

What sends a file back

A file goes back when the name on the document differs from the name on the account, when the address document does not match the address entered, when the image is cropped or unreadable, or when the document has expired. Each of those is a matching problem, and each is fixed before upload rather than after.

The second look at the same problem is slower than the first, because a resubmission is reviewed as a resubmission. Check the name spelling, the address lines and the expiry date against your own form before you send anything, and the review has nothing to query.

If a document has genuinely changed — a new passport, a moved address — update the account details first and upload the new document against the updated record. Uploading a new document against an old address is a mismatch by construction.

Why finish before the first deposit

Finish verification before the first deposit because the deposit is where the mismatch becomes expensive. Funds sent into an unverified account sit where they are until the check clears, and a withdrawal request on an unverified account cannot be paid out to a name the broker has not confirmed.

Doing it in this order also lets you size the first position properly. Once the account is open and verified, our position size calculator turns your intended risk into a lot figure on XAU/USD, and our margin calculator shows what that lot figure holds at the applicable cap — about $85.50 for 0.10 lots. Neither number is useful while the account is still pending.

Keep the regulator caveat in view throughout: FxPro is licensed by the FCA (UK), CySEC and FSCA; confirm any broker on the SEC Ghana licensed operators list. Verification is the broker confirming you; that line is you confirming the broker.

The statutory reason FxPro must verify you before your account trades

The check exists because anti-money-laundering law requires it, not because the broker prefers paperwork. FxPro is licensed by the FCA (UK), CySEC and FSCA, and each of those regimes obliges the firm to identify every client, understand where their money comes from, and keep evidence on file before the relationship goes live. That duty is why identity and address evidence is collected at onboarding rather than later, and why the file has to be complete before a Ghanaian client can fund and trade a gold (XAU/USD) account.

The obligation is on the broker, so the broker carries the penalty if the file is thin. Regulators expect firms to know who is behind each account, to screen names against sanctions and politically exposed person lists, and to be able to show the evidence years later if asked. FxPro cannot outsource that duty to you or waive it for a small account. Because it is a legal requirement rather than a commercial preference, no amount of asking, escalating or threatening to move to another platform removes it.

For you in Ghana the practical consequence is simple: verification is a gate that sits between opening the account and using it, and it is cleared with documents rather than with money. Confirm any broker on the SEC Ghana licensed operators list before you send anything, then treat the document request as part of the account rather than an obstacle to it. A file that is complete on day one means the funding step, including an MTN Mobile Money deposit, does not stall while the compliance team asks follow-up questions.

The document mistakes that get a verification file sent back

The most common rejection causes are photographic rather than factual: a photo of a photo, a glare across the document number, a corner cut off, or a scan so dark the security pattern disappears. A compliance reviewer has to read the name, the number, the dates and the photo, and anything that blurs one of those fails. The second most common cause is an expired document. A passport or Ghana Card that has lapsed is not acceptable evidence of identity, however clearly it is photographed.

Mismatches come next. The name has to read the same way across every document and across the account application, including middle names and the order of surnames. A shortened first name on the account and the full name on the ID is a mismatch, and so is a document that shows only one surname when the application shows two. Address evidence fails for the same reason: a utility bill in a spouse's or a landlord's name does not prove where you live, even if you genuinely live there.

Crops and edits also fail. A screenshot of a bank statement, a PDF with pages removed, or an image with visible editing marks is treated as unreliable. Send the whole page, in colour, with all four corners visible and the text sharp enough to read without zooming. If a document is in a language other than English, expect a certified translation request. Correcting these points before you upload saves the round trip that most often delays a first MTN Mobile Money deposit.

Where a deposit stands if it lands before verification is approved

A deposit made before approval is normally received and held, not lost, but it is not tradeable. The funds sit in your account pending the compliance decision, and you cannot open a gold position, set a stop or withdraw against them until the file clears. What happens next depends on the broker's own procedures and on how the payment was made, so treat the money as parked rather than working. This is exactly why the sensible order is documents first, deposit second.

If the verification then fails, the usual outcome is that the deposit is returned to the source it came from. That is a consequence of anti-money-laundering rules: money is sent back to the same account or wallet rather than forwarded somewhere new, which protects both sides. A return can take time and may involve the payment provider's own processing, so a deposit that has to be reversed is a delay you did not need to create.

Deposits from a third party create a separate problem. An MTN Mobile Money transfer from a friend's or relative's wallet, or a card in someone else's name, does not match the account holder and is generally refused or reversed regardless of the verification status. Fund from a wallet registered in your own name. If you have already sent money and the file is still open, upload the outstanding documents rather than sending more, and let the compliance team finish before you size anything.

What the suitability questionnaire is asking and what your answers change

The suitability questionnaire is the broker's record of whether leveraged gold trading is appropriate for you, and your answers change what the firm can offer and what it must warn you about. It typically covers your trading experience, your knowledge of leveraged products, your financial situation and your stated objective. Answers are not a test you can fail in the ordinary sense, but they are not decorative either: they become part of your client file and inform the risk disclosure you are given.

The most direct effect is on access. Where the answers show no relevant experience or an objective that leveraged margin trading does not fit, the firm may restrict what you can be offered, require you to acknowledge specific warnings, or decline to open a margin account at all. Where the answers show experience, the account proceeds normally. Either way the record is what the broker relies on, so a careless set of answers can produce a restriction you then have to unpick.

Answer honestly and specifically. If you have traded before, say which instruments and for how long; if you have not, say so. Do not inflate experience to speed the process, because the mismatch tends to surface later, and do not understate your financial position to seem cautious. Remember what you are assessing: at the applicable leverage cap, a 0.10-lot gold position needs about $85.50 in margin, and a 1 standard lot is 100 oz with one pip equal to 0.01, so small price moves move real money.

Which proof-of-address documents Ghanaian clients can use and how old they must be

Proof of address must be an official document, issued in your own name, showing the full residential address you gave on the application. In Ghana the usual acceptances are a utility bill, a bank or mobile money statement, or a government or local authority document that carries your address. The exact list is set by the broker and can change, so check the current requirement in your account before you upload rather than assuming last year's list still applies.

Recency matters as much as the type. Address evidence is normally required to be recent, commonly within the last three months, because an old bill no longer shows where you live now. The precise window depends on the broker's current policy, so confirm it rather than guessing. A document dated well outside the window will be sent back even if everything on it is correct, which is the single easiest rejection to avoid by simply pulling a fresh statement.

The document must also prove the address, not just your name. A mobile money statement is useful only if it prints your address; a bill in a landlord's name proves nothing about you. Send the full page with your name, the address and the issue date all legible, in colour, uncropped. If your name and address appear on different documents, that is fine as long as each document is complete in itself and the address matches the one on file exactly, including the spelling of the area.

When the name on the identity document and the payment method do not match

A mismatch between the name on your identity document and the name on the card or mobile money wallet is a compliance flag, and it is usually resolved by evidence rather than by explanation. FxPro has to be satisfied that the person funding the account is the person who owns it, so a payment from a differently named source is generally refused, held or returned. The fix is to fund from an account or wallet registered in the same name as the trading account.

Where the difference is a genuine variation rather than a different person, the usual route is documentary. A marriage certificate, a deed poll or a statutory declaration can bridge a maiden name to a married name, and a bank or telco letter can confirm that a shortened name on a wallet refers to the same individual. Ask the compliance team what they will accept before sending anything, because the acceptable evidence depends on the nature of the difference and on the broker's current policy.

Do not try to solve it by opening the account in one name and paying from another, and do not add a second holder to work around it. If the mismatch cannot be documented, the practical answer is a payment route in your own name, which in Ghana normally means an MTN Mobile Money wallet registered to you. Getting the names aligned before the first deposit avoids a reversal and the delay that comes with it.

Why an approved account is asked for documents a second time

Re-verification happens because the compliance file has a shelf life. Identity documents expire, address evidence goes stale, and the broker is expected to hold current records rather than a snapshot from the day you signed up. A request for documents again is therefore routine housekeeping, not an accusation. It is most likely to arrive when a passport or Ghana Card reaches its expiry date, when the address evidence on file is older than the accepted window, or when the firm runs a periodic review of existing clients.

Certain events also trigger a fresh look. A change of address, a change of name, a large or unusual deposit pattern, a new payment method, or a request to change your bank or mobile money details can all prompt a document request, because each one alters what the firm knows about you. So can a regulatory or systems change on the broker's side. None of these mean your account is in trouble; they mean the file has to be brought up to date before business continues.

The practical response is to send what is asked for promptly and completely, in the same quality you would for a first application. Keep a folder of current documents so a request does not catch you out, and note the expiry dates on your ID and on your address evidence. If a re-verification request arrives while you hold open gold positions, deal with the documents immediately rather than waiting, because a restricted account is a poor place to be managing margin.

How to change your name or address on an account that has already been approved

A change of name or address on an approved account is handled as a fresh verification of that detail, not as a settings edit. You notify the broker, supply documentary evidence of the new name or address, and the compliance team updates the file once it is satisfied. Until that happens the old details remain on record, so do not assume a change you have requested is live. The exact process and the evidence accepted depend on the broker's current procedures, so ask first.

For an address change the evidence is the same kind of document used at onboarding: an official document in your name showing the new address and dated recently enough to fall inside the accepted window. For a name change the evidence is the instrument that caused it, such as a marriage certificate or a deed poll, together with an identity document in the new name. A name change usually means the identity document itself has to be reissued and re-uploaded, not just annotated.

Timing matters because your payment routes are tied to your details. If you move and change address, update the account before you fund again from a new location or a new wallet, so the payment and the file agree. If your name changes, align the trading account, the bank or mobile money wallet and the identity document together rather than one at a time. Doing it in that order prevents a mismatch flag and the temporary restriction that comes with it.

What a politically exposed person declaration means and what a yes answer changes

A politically exposed person, or PEP, is someone entrusted with a prominent public function, or a close associate or family member of such a person. The declaration asks whether that description applies to you. Answering yes does not close the account and does not by itself block trading. It places the account in a higher-risk category, which means the broker applies enhanced scrutiny: more evidence about where your funds come from, and a closer look before the relationship is approved or a large payment is processed.

The reason for the extra scrutiny is corruption risk, not suspicion of you personally. Public office can create exposure to bribery and to the movement of public money, so the rules require firms to look harder at accounts connected to it. A yes answer therefore usually means a longer onboarding, additional source-of-funds documentation and possibly sign-off at a more senior level inside the firm. What it does not mean is automatic refusal, and it does not change the leverage cap or the margin on a gold position.

Answer accurately, including where the role is held by a family member rather than by you. A false no that is later discovered is far more damaging than a truthful yes, because it undermines the reliability of the rest of your file. If your circumstances change and you later take up a prominent public function, tell the broker rather than leaving the declaration as it was. The same applies when the role ends: an update keeps the file accurate and can move the account back to standard treatment.

What the source-of-funds question is really asking and what a good answer looks like

The source-of-funds question asks where the money you deposit came from, not how much you earn. A good answer names a specific, documentable origin: salary from a named employer, proceeds of a business you own, savings accumulated over time, the sale of an asset, or an inheritance. Vague answers such as personal savings with nothing behind them are the ones that generate follow-up questions. The point is to show that the money is lawfully yours and that the story is consistent with what the account is doing.

The answer and the evidence have to match. A salary claim is supported by payslips or an employer letter; a business by registration and accounts; a property sale by the sale agreement; an inheritance by the estate documents. The evidence required depends on the amount involved and on the broker's current policy, so ask what is needed rather than sending a bundle. Consistency across time matters too: deposits that are large relative to the stated income will prompt a question, and so will a change in pattern.

Declare the source before you fund, and keep it simple and true. If you trade from savings, say savings and be ready to show the account history. If you are funded by a relative, say so and expect the broker to look at that person as well, which may mean documents for them. Never route money through a friend's MTN Mobile Money wallet to avoid the question, because a third-party deposit creates a bigger problem than the one it was meant to solve.