eToro Introduces Onfido Selfie Motion Biometric Authentication Feature

eToro, the online brokerage platform, has unveiled its latest innovation: the Onfido Selfie Motion biometric authentication feature.

Designed to streamline the process of updating phone numbers, the Onfido Selfie Motion feature offers a convenient solution for users facing difficulties logging in due to 2FA (two-factor authentication) codes sent to outdated phone numbers.

So, how does it work？

Upon receiving the verification code, users will have the option to initiate the phone number update process on the subsequent screen. By selecting “Lets start,” they will be guided through a self-service biometric authentication procedure facilitated by Onfido Selfie Motion.

During this process, users will upload a Proof of Identity document featuring a photo of themselves along with a selfie motion. This ensures a secure and accurate verification process.

Once the biometric authentication is completed and passes all eligibility checks, users will receive an email containing a security code. Entering this security code will finalize the phone number update process.

Upon successful completion, users can seamlessly transition to their new phone number without interruption. It's worth noting that withdrawal requests will be subject to a 7-day limitation period. However, users can still submit withdrawal requests, which will be manually reviewed. Alternatively, users can open a support ticket for further assistance if needed.

About eToro

eToro is a multi-asset social trading platform that has gained widespread popularity among investors, traders, and social media enthusiasts since its inception in 2007. It offers users access to a wide range of financial instruments, including stocks, cryptocurrencies, forex, indices, and commodities, among others. The platform provides a user-friendly interface that caters to both novice and experienced traders alike, making it one of the most popular trading platforms on the market. WikiFX has given this broker a decent score of 7.53/10.