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▶ Institutional Account Verification FAQ

Ryen
  • Updated on

 

1. What are the benefits of having an institutional account on WOO X?

Being an institutional account on WOO X will allow you to enjoy better benefits than a regular account, including the following:

  1. 30-day free trial starting from the first trade day
  2. Better collateral ratio
  3. API withdrawal function

2. Why was my application rejected?

Please reply to the email (onboarding@woo.network) from WOO X onboarding team to clarify the specific rejection reason. You can also reach out to our Support Center for help.

 

3. Do I need to submit all documents in English?

Currently, we support all countries excluding those listed in the following lists. If the corporate documents are in other languages, please provide a translated English version along with the original documents.

Unsupported Country List

 

4. I submitted the application a while ago, why haven’t I received any feedback?

After submitting your documents, your status should be reviewed within 3 workdays. Please contact onboarding@woo.network if you wait for more than 3 workdays.

You can check the status of your Institutional Account Verification panel on the WOO X Account Info page. Also, please check your email (for both primary inbox and spam) as we may contact you for additional documents.

 

5. Can I apply for a second institutional account?

Each company can only apply for one institutional account. However, we do provide a subaccount function on WOOX. Once your Institutional Account Verification is approved, you can open up to 10 subaccounts under your main account.

 

6. Documents that we accept as Proof of Address

We accept the following address verification documents, issued within 90 days:

  • Bank statements - with transaction history. We also accept digital bank statements. You can send us the original pdf file and cover the sensitive information, such as transaction details.
  • Utility bills include electricity, water, fixed internet or phone bills, etc. We do not accept mobile phone bills and insurance letters.
  • Government documents include letters from government agencies, tax bills, etc.

 

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