diff --git a/packages/wallets/src/features/cfd/flows/MT5/AvailableMT5AccountsList/AvailableMT5AccountsList.tsx b/packages/wallets/src/features/cfd/flows/MT5/AvailableMT5AccountsList/AvailableMT5AccountsList.tsx
index f540f9f29255..f8b5a3a7963b 100644
--- a/packages/wallets/src/features/cfd/flows/MT5/AvailableMT5AccountsList/AvailableMT5AccountsList.tsx
+++ b/packages/wallets/src/features/cfd/flows/MT5/AvailableMT5AccountsList/AvailableMT5AccountsList.tsx
@@ -35,15 +35,7 @@ const AvailableMT5AccountsList: React.FC<TProps> = ({ account }) => {
                 if (account.client_kyc_status?.poi_status && account.client_kyc_status?.poi_status !== 'verified') {
                     show(<ClientVerificationModal account={account} />);
                 } else {
-                    show(
-                        <MT5PasswordModal
-                            account={account}
-                            isVirtual={activeWallet?.is_virtual}
-                            marketType={account?.market_type || 'synthetic'}
-                            platform={account.platform}
-                            product={account.product}
-                        />
-                    );
+                    show(<MT5PasswordModal account={account} isVirtual={activeWallet?.is_virtual} />);
                 }
                 setModalState('marketType', account.market_type);
                 setModalState('selectedJurisdiction', account.shortcode);
diff --git a/packages/wallets/src/features/cfd/modals/MT5PasswordModal/MT5PasswordModal.tsx b/packages/wallets/src/features/cfd/modals/MT5PasswordModal/MT5PasswordModal.tsx
index b447e5381e58..54104fbf9a00 100644
--- a/packages/wallets/src/features/cfd/modals/MT5PasswordModal/MT5PasswordModal.tsx
+++ b/packages/wallets/src/features/cfd/modals/MT5PasswordModal/MT5PasswordModal.tsx
@@ -1,7 +1,6 @@
 import React, { useCallback, useMemo, useState } from 'react';
 import {
     useAccountStatus,
-    useActiveWalletAccount,
     useAvailableMT5Accounts,
     useCreateMT5Account,
     useMT5AccountsList,
@@ -10,11 +9,11 @@ import {
     useVerifyEmail,
 } from '@deriv/api-v2';
 import { Localize, useTranslations } from '@deriv-com/translations';
-import { Button, useDevice } from '@deriv-com/ui';
+import { Button, Loader, useDevice } from '@deriv-com/ui';
 import { SentEmailContent, WalletError } from '../../../../components';
 import { ModalStepWrapper, ModalWrapper } from '../../../../components/Base';
 import { useModal } from '../../../../components/ModalProvider';
-import { THooks, TMarketTypes, TPlatforms } from '../../../../types';
+import { THooks } from '../../../../types';
 import { platformPasswordResetRedirectLink } from '../../../../utils/cfd';
 import { validPassword, validPasswordMT5 } from '../../../../utils/password-validation';
 import { CFD_PLATFORMS, JURISDICTION, MARKET_TYPE, PlatformDetails } from '../../constants';
@@ -27,9 +26,6 @@ import './MT5PasswordModal.scss';
 type TProps = {
     account: THooks.SortedMT5Accounts;
     isVirtual?: boolean;
-    marketType: TMarketTypes.SortedMT5Accounts;
-    platform: TPlatforms.All;
-    product?: THooks.AvailableMT5Accounts['product'];
 };
 
 export type TPlatformPasswordChange = {
@@ -37,8 +33,8 @@ export type TPlatformPasswordChange = {
     newPassword: string;
 };
 
-const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, platform, product }) => {
-    const [isTncChecked, setIsTncChecked] = useState(false);
+const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual }) => {
+    const [isTncChecked, setIsTncChecked] = useState(!isVirtual || account.shortcode === JURISDICTION.SVG);
     const {
         data: createMT5AccountData,
         error: createMT5AccountError,
@@ -52,8 +48,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
         isLoading: tradingPlatformPasswordChangeLoading,
         mutateAsync: tradingPasswordChangeMutateAsync,
     } = useTradingPlatformPasswordChange();
-    const { data: accountStatusData } = useAccountStatus();
-    const { data: activeWalletData } = useActiveWalletAccount();
+    const { data: accountStatusData, isLoading: isAccountStatusDataLoading } = useAccountStatus();
     const { data: availableMT5AccountsData } = useAvailableMT5Accounts();
     const {
         error: emailVerificationError,
@@ -70,11 +65,14 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
 
     const [password, setPassword] = useState('');
 
+    const marketType = account.market_type ?? 'synthetic';
+    const platform = account.platform;
+    const product = account.product;
+
     const isMT5PasswordNotSet = accountStatusData?.is_mt5_password_not_set;
     const hasMT5Account = mt5AccountsData?.find(account => account.login);
-    const isDemo = activeWalletData?.is_virtual;
     const { platform: mt5Platform, title: mt5Title } = PlatformDetails.mt5;
-    const selectedJurisdiction = isDemo ? JURISDICTION.SVG : getModalState('selectedJurisdiction');
+    const selectedJurisdiction = isVirtual ? JURISDICTION.SVG : getModalState('selectedJurisdiction');
 
     const updateMT5Password =
         createMT5AccountStatus === 'error' &&
@@ -88,7 +86,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
         // =================================
 
         const accountType = marketType === MARKET_TYPE.SYNTHETIC ? 'gaming' : marketType;
-        const categoryAccountType = isDemo ? 'demo' : accountType;
+        const categoryAccountType = isVirtual ? 'demo' : accountType;
 
         if (isMT5PasswordNotSet) {
             await tradingPasswordChangeMutateAsync({
@@ -106,7 +104,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
                 email: settingsData?.email ?? '',
                 leverage: availableMT5AccountsData?.find(acc => acc.market_type === marketType)?.leverage ?? 500,
                 mainPassword: password,
-                ...(selectedJurisdiction && !isDemo ? { company: selectedJurisdiction } : {}),
+                ...(selectedJurisdiction && !isVirtual ? { company: selectedJurisdiction } : {}),
                 ...(marketType === MARKET_TYPE.FINANCIAL && { mt5_account_type: MARKET_TYPE.FINANCIAL }),
                 ...(selectedJurisdiction &&
                     (selectedJurisdiction !== JURISDICTION.LABUAN
@@ -130,7 +128,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
     }, [
         availableMT5AccountsData,
         createMT5AccountMutate,
-        isDemo,
+        isVirtual,
         isMT5PasswordNotSet,
         marketType,
         mt5Platform,
@@ -153,12 +151,12 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
             emailVerificationMutate({
                 type: 'trading_platform_mt5_password_reset',
                 url_parameters: {
-                    redirect_to: platformPasswordResetRedirectLink(CFD_PLATFORMS.MT5, activeWalletData?.is_virtual),
+                    redirect_to: platformPasswordResetRedirectLink(CFD_PLATFORMS.MT5, isVirtual),
                 },
                 verify_email: email,
             });
         }
-    }, [activeWalletData?.is_virtual, email, emailVerificationMutate]);
+    }, [email, emailVerificationMutate, isVirtual]);
 
     const onSubmitPasswordChange = useCallback(
         ({ currentPassword, newPassword }: TPlatformPasswordChange) => {
@@ -174,7 +172,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
 
     const renderTitle = useCallback(() => {
         const accountAction = hasMT5Account ? localize('Add') : localize('Create');
-        const accountType = isDemo ? localize('demo') : localize('real');
+        const accountType = isVirtual ? localize('demo') : localize('real');
 
         return updateMT5Password
             ? localize('{{mt5Title}} latest password requirements', { mt5Title })
@@ -183,13 +181,13 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
                   accountType,
                   mt5Title,
               });
-    }, [hasMT5Account, isDemo, localize, mt5Title, updateMT5Password]);
+    }, [hasMT5Account, isVirtual, localize, mt5Title, updateMT5Password]);
 
     const renderFooter = useCallback(() => {
         if (createMT5AccountSuccess)
             return (
                 <div className='wallets-mt5-password-modal__footer'>
-                    <SuccessModalFooter isDemo={isDemo} />
+                    <SuccessModalFooter isDemo={isVirtual} />
                 </div>
             );
 
@@ -234,7 +232,7 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
     }, [
         createMT5AccountLoading,
         createMT5AccountSuccess,
-        isDemo,
+        isVirtual,
         isDesktop,
         isMT5PasswordNotSet,
         mt5Title,
@@ -287,9 +285,10 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
 
         return (
             <EnterPassword
+                account={account}
                 isLoading={tradingPlatformPasswordChangeLoading || createMT5AccountLoading}
                 isTncChecked={isTncChecked}
-                isVirtual={activeWalletData?.is_virtual}
+                isVirtual={isVirtual}
                 marketType={marketType}
                 modalTitle={localize('Enter your Deriv MT5 password')}
                 onPasswordChange={e => setPassword(e.target.value)}
@@ -318,13 +317,16 @@ const MT5PasswordModal: React.FC<TProps> = ({ account, isVirtual, marketType, pl
         updateMT5Password,
         tradingPasswordChangeError,
         onSubmitPasswordChange,
-        activeWalletData?.is_virtual,
         marketType,
         localize,
         createMT5AccountError?.error?.code,
         sendEmailVerification,
     ]);
 
+    if (isAccountStatusDataLoading) {
+        return <Loader />;
+    }
+
     if (emailVerificationStatus === 'error') {
         return (
             <WalletError
diff --git a/packages/wallets/src/features/cfd/screens/CreatePasswordMT5/CreatePasswordMT5.tsx b/packages/wallets/src/features/cfd/screens/CreatePasswordMT5/CreatePasswordMT5.tsx
index ac2f882b20ff..56021a696e32 100644
--- a/packages/wallets/src/features/cfd/screens/CreatePasswordMT5/CreatePasswordMT5.tsx
+++ b/packages/wallets/src/features/cfd/screens/CreatePasswordMT5/CreatePasswordMT5.tsx
@@ -63,7 +63,9 @@ const CreatePasswordMT5: React.FC<TProps> = ({
                     password={password}
                 />
                 <MT5LicenceMessage account={account} />
-                {!isVirtual && <CFDPasswordModalTnc checked={isTncChecked} onChange={onTncChange} />}
+                {!isVirtual && account.shortcode !== 'svg' && (
+                    <CFDPasswordModalTnc account={account} checked={isTncChecked} onChange={onTncChange} />
+                )}
             </div>
 
             {isDesktop && (
diff --git a/packages/wallets/src/features/cfd/screens/EnterPassword/EnterPassword.tsx b/packages/wallets/src/features/cfd/screens/EnterPassword/EnterPassword.tsx
index 9dd4de5610fc..d491883e34cc 100644
--- a/packages/wallets/src/features/cfd/screens/EnterPassword/EnterPassword.tsx
+++ b/packages/wallets/src/features/cfd/screens/EnterPassword/EnterPassword.tsx
@@ -6,10 +6,13 @@ import { WalletPasswordFieldLazy } from '../../../../components/Base';
 import { THooks, TMarketTypes, TPlatforms } from '../../../../types';
 import { validPassword } from '../../../../utils/password-validation';
 import { CFDPasswordModalTnc } from '../../components/CFDPasswordModalTnc';
-import { CFD_PLATFORMS, getMarketTypeDetails, PlatformDetails, PRODUCT } from '../../constants';
+import { CFD_PLATFORMS, getMarketTypeDetails, JURISDICTION, PlatformDetails } from '../../constants';
+import { MT5LicenceMessage } from '../components';
 import './EnterPassword.scss';
 
+// Note: this component requires a proper refactor to remove props for keys available under the `account` prop
 type TProps = {
+    account?: THooks.SortedMT5Accounts;
     isForgotPasswordLoading?: boolean;
     isLoading?: boolean;
     isTncChecked?: boolean;
@@ -28,6 +31,7 @@ type TProps = {
 };
 
 const EnterPassword: React.FC<TProps> = ({
+    account,
     isForgotPasswordLoading,
     isLoading,
     isTncChecked = true,
@@ -92,13 +96,9 @@ const EnterPassword: React.FC<TProps> = ({
                     shouldDisablePasswordMeter
                 />
                 {passwordError && <Text size={isDesktop ? 'sm' : 'md'}>{passwordErrorHints}</Text>}
-                {product === PRODUCT.ZEROSPREAD && !isVirtual && (
-                    <CFDPasswordModalTnc
-                        checked={isTncChecked}
-                        onChange={() => onTncChange?.()}
-                        platform={platform}
-                        product={product}
-                    />
+                {account && !isVirtual && <MT5LicenceMessage account={account} />}
+                {account && account.shortcode !== JURISDICTION.SVG && platform === CFD_PLATFORMS.MT5 && !isVirtual && (
+                    <CFDPasswordModalTnc checked={isTncChecked} onChange={() => onTncChange?.()} />
                 )}
             </div>
             {isDesktop && (