How To Do Deriv Account Verification ☑

Verifying your Deriv account is an essential step to ensure a smooth and secure trading experience. This process helps to confirm your identity and comply with regulatory requirements. Here’s a comprehensive guide to walk you through the Deriv account verification process.

What is Deriv Account Verification?

Deriv account verification is a mandatory procedure that helps the broker confirm the identity and location of clients when they register a trading account.

Given that forex and synthetic indices trading occurs online, there is a risk that anyone, anywhere could open a trading account using a fake name and address.

Such accounts can potentially be used for illegal activities like money laundering. Account verification ensures that forex brokers can verify the authenticity of their traders.

The Deriv verification process is an essential part of the Know Your Customer (KYC) procedure.

Deriv Account Verification Step-By-Step

Step 1: Prepare Your Documents

Before starting the verification process, make sure you have the following documents ready:

1. Deriv Proof of Identity (POI):
   • A government-issued ID such as a passport, national ID card, or driver’s license.
   • The document should be valid, clearly showing your name, date of birth, and a clear photograph.
   • You can also use a lease agreement showing your name and the name and contact details of your landlord
   • If you do not have any proof of residence you can approach a commissioner of oaths and get a stamped affidavit. This is a simple and convenient way to get legitimate Deriv proof of address.
     
     
2. Deriv Proof of Address (POA):
   • A utility bill (electricity, water, gas) or bank statement.
   • The document should be recent (not older than 3 months) and should clearly display your name and address.
     

It is important to use only genuine documents for verifying your Deriv account, as the broker employs sophisticated systems to detect forgery and fraudulent activities.

Submitting fake documents can not only lead to the rejection of your verification attempt but may also result in the closure of your account and potential banning from the platform.

Engaging in such deceptive practices undermines the integrity of the trading environment and can have serious consequences, including legal action.

Always ensure that your verification documents are authentic to avoid any complications and to maintain a secure trading experience.

I have come across people who have had their accounts closed due to the use of fake documents.

Step 2: Log In to Your Deriv Account

1. Visit the Deriv website and log in to your account using your username and password.
2. If you haven’t created an account yet, you will need to sign up and complete the initial registration process.

You can get step-by-step instructions on how to open a Deriv account.

Step 3: Access the Deriv Verification Section

Once logged in, click on Settings > Profile > Verification/Authentication.

Step 4: Upload Your Documents

1. In the verification section, you will be prompted to upload your Deriv proof of identity and Deriv proof of residence documents.
   
2. Follow the on-screen instructions to upload clear and legible scans or photos of your documents.
   • For the POI, ensure all details are visible, including your photo.
   • For the POA, make sure your address and name are clearly readable.

Step 5: Submit Your Documents

1. After uploading the necessary Deriv verification documents, review them to ensure they meet the requirements.
2. Click on the ‘Submit’ button to send your documents for verification.

Step 6: Wait for Approval

1. The Deriv team will review your documents. The Deriv verification process can take a few hours to a few days, depending on the volume of verification requests.
2. You will receive an email notification once your documents have been reviewed.

Step 7: Verification Confirmation

1. If your documents are approved, your account status will be updated, and you will be able to access all features and services offered by Deriv.
2. If there are any issues with your documents, you will receive instructions on how to rectify them and resubmit.

Deriv Tax Identification Number

When creating an MT5 account with Deriv under the jurisdictions of the British Virgin Islands, Vanuatu, or Labuan, you need to provide your Tax Identification Number (TIN).

This number can typically be found on a government-issued tax document, and in some countries, it may be included in official identification documents like passports or driver's licenses.

If you do not have a TIN, you can contact Deriv's customer support for assistance.

Frequently Asked Questions On Deriv Account Verification