This article will show you how to verify your Deriv trading account and enjoy full access to your account.
It is possible to trade, deposit & withdraw on Deriv without verifying your account but you will have limited options and account access. For example, you will not be able to register on Dp2p, become an affiliate partner or act as a payment agent.
What is Forex & Binary Trading Account Verification?
Account verification is documentary confirmation of clients' personal information. This mandatory procedure helps forex brokers to ascertain their clients' identity & location when the client registers a trading account with them.
Since forex trading is done online there is a risk that anyone, anywhere can simply open a trading account using a fake name and address.
Such an account can then be used for illegal activities like money laundering. Account verification helps forex brokers ensure that their traders are genuinely who they claim to be.
It is a critical aspect of the Know Your Customer (KYC) process.
Why Should You Verify Your Deriv Trading Account?
A fully verified Deriv trading account will give you full access to the Deriv trading account and will allow you to trade without any limitations or inconveniences.
If you open a Deriv account and you do not verify it, you may face challenges when you want to withdraw over US$10 000 from the account. You will not be able to move funds into and out of your accounts using the popular Dp2p platform.
This is a major disadvantage because Dp2p allows you to conveniently buy and sell Deriv credits using local payment methods.
With a verified account you can also apply to be a Deriv payment agent and earn a commission by helping traders move funds into and out of their trading accounts.
Deriv will need to verify you first because there is a risk that you can scam other traders as a payment agent.
Deriv also has an affiliate partnership program hat allows you to earn up to 40% of the lifetime commissions charged on your referred traders. This can be a lucrative way for you to make extra passive income with the broker.
However, you will need to verify your Deriv trading account to become a partner. You can begin to apply to be a Deriv partner by clicking the button below.
Open A Deriv Affiliate Partner Account Here
What Are Deriv Verification Documents?
Upload the following documents to do Deriv account verification:
- A valid ID or Passport clearly showing your name and date of birth (for proof of legal existence)
- A utility bill (e.g. electricity, water, gas, phone, internet) or bank statement in your name that has been issued in the last 6 months (for proof of residence)
- You can also use a lease agreement showing your name and the name and contact details of your landlord
You will need to log in to your Deriv account and click on the account settings tab.
Look for the account verification tab and click on the document you want to upload. Do not be tempted to use fake Deriv verification documents as Deriv will quickly pick this up. You risk having your account blocked for fraud if you use fake documents.
If you have challenges getting proof of residence you can simply look for a commissioner of oaths and sign an affidavit. Deriv will accept the affidavit as proof of residence.
Frequently Asked Questions on Deriv Account Verification
Deriv usually takes 1-3 business days to review your documents. You will be notified of the result of the verification process via email once it’s done.
Yes, Deriv may decline your documents if they are insufficiently clear, invalid, expired, or have cropped edges. You will have to get better copies of your documents to proceed with the verification process.
Yes, you can do so through Deriv. Learn how to open a forex trading account on Deriv here.
I long submitted my documents but my account is not verified yet
Try to contact them via livechat
-Am lost wit how to make a password, I want the example of the password please.