diff --git a/packages/wallets/src/AppContent.tsx b/packages/wallets/src/AppContent.tsx
index dd067ac31790..7cdbb9c85277 100644
--- a/packages/wallets/src/AppContent.tsx
+++ b/packages/wallets/src/AppContent.tsx
@@ -1,4 +1,4 @@
-import React, { useEffect, useState } from 'react';
+import React, { useEffect, useRef, useState } from 'react';
 import { useTranslation } from 'react-i18next';
 import { useDerivAccountsList } from '@deriv/api-v2';
 import { Analytics } from '@deriv-com/analytics';
@@ -12,18 +12,21 @@ const AppContent: React.FC = () => {
     const [isPanelOpen, setIsPanelOpen] = useState(false);
     const { i18n } = useTranslation();
     const { isSubscribed, subscribeToAllBalance, unsubscribeFromAllBalance } = useAllBalanceSubscription();
-    const { data: derivAccountList, isRefetching } = useDerivAccountsList();
+    const { data: derivAccountList } = useDerivAccountsList();
+    const previousDerivAccountListLenghtRef = useRef(0);
 
     useEffect(() => {
-        if ((derivAccountList?.length ?? 0) > 0 && !isRefetching && !isSubscribed) {
+        if (!derivAccountList?.length) return;
+        if (previousDerivAccountListLenghtRef.current !== derivAccountList.length || !isSubscribed) {
             subscribeToAllBalance();
+            previousDerivAccountListLenghtRef.current = derivAccountList.length;
         }
         return () => {
             if (isSubscribed) {
                 unsubscribeFromAllBalance();
             }
         };
-    }, [derivAccountList?.length, isRefetching, isSubscribed, subscribeToAllBalance, unsubscribeFromAllBalance]);
+    }, [derivAccountList?.length, isSubscribed, subscribeToAllBalance, unsubscribeFromAllBalance]);
 
     useEffect(() => {
         const handleShortcutKey = (event: globalThis.KeyboardEvent) => {