Hello Deriv Community,
With the recent update on the MT5 account creation, we are being more transparent about the counterparty a customer is signing up with. You can’t get more transparent than letting the customer choose.
Following the title above, please be advised that this will only be affected the newly registered account. Depending on the type of MT5 account, the newly registered account will need to be fully authenticated.
According to the jurisdiction you’ve chosen, you will need to submit the documentation needed to authenticate your account.
The documents needed are the Proof of Identity (POI), Proof of Address (POA), Tax identification (TIN), and Financial Assessment (If required) The authentication requirements for each license as below table:
These are the MT5 Account Sign-up flow for your reference:
- Allow clients to select the counterparty on MT5 account creation
- Display the client a comparison table.
- “Add Region” button under Synthetic Account is to be replaced with “Add Account” (Client selects which counterparty they want to open additional accounts under)
- After the account creation on the DMT5 dashboard the blue banner shows under which company they opened the account (SVG/Labuan/Vanuatu/BVI)
- Based on the selection of counterparty route client to respective license
How long does the verification process take?
The verification checks will take approximately 1-3 working days. Upon account authentication, the client will receive a notification that their account has been verified to which they can go and set a password for their account.
Hope the above information is useful for everyone.
If you have any further queries, please do not hesitate to contact our Live Chat support for assistance.