Deriv is an online trading platform that has built a reputation in the foreign exchange markets for over two decades. In this review, we will provide the most relevant information regarding one of the trading industry’s most popular exchanges, Deriv. We will cover in detail its features, regulations, fees, and interface to equip you for a proper judgment of the exchange. At the end of this review, you’ll be well informed to know whether Deriv is the best choice for you.
Deriv Overview
Deriv is an award-winning online broker and one of the best brokers in the world for users to trade CFDs, binary options, forex, stocks, and even crypto.
Established in 1999, Deriv is among the oldest and largest trading platforms and possesses over 2.5 million users worldwide with an average of $650 billion in monthly volume.
When it comes to regulations and legitimacy, Deriv is not lacking. The exchange is fully licensed by agencies such as the United Kingdom Financial Conduct Authority (FCA), Malta Financial Services Authority (MFSA), Labuan Financial Services Authority (LFSA), Vanuatu Financial Services Authority(VFSA), and the British Virgin Islands Financial Services Commission (BVI FSC). This makes it a fully legitimate exchange for users all around the world to trade.
Deriv offers users a wide range of tradable assets, including CFDs, binary options, multipliers, forex, stocks, and cryptocurrencies. It also provides a copy trading platform for those who want to learn from the trades of experienced users. The major currencies available to users are USD, AUD, GBP, and EUR.
With a minimum of a $5 deposit, users can begin to trade on any available markets, with a payout possibility of up to 100% on Deriv, one of the highest you’ll find anywhere.
Undoubtedly, Deriv’s trading platform is one of the best in the market. Deriv provides an in-built trading platform, Deriv Trader, and MetaTrader 5 software. Users enjoy other trading platforms, including Deriv X, Deriv GO (for mobile users), and Deriv Bot. The trading platforms are well integrated to suit all kinds of CFD traders and are fully operational 24 hours a day with real-time trading data. On Deriv Trader, there are 20+ indicators for traders to choose from, and 30+ on the MT5 trading platform.
When compared with other brokers out there, Deriv stands strong. It also provides a secure
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Offers a wide range of trading instruments, including CFDs, multipliers, options, stocks, and crypto. | ❌ Does not offer bonuses |
| ✅ Payouts of up to 100% | ❌ It only lists 100+ assets for users to select from |
| ✅ Minimum trading deposit of $5 | ❌ No reward system for high-volume traders |
| ✅ 24-hour customer support | |
| ✅ Offers three highly convenient trading platforms to choose from | |
| ✅ Multiple withdrawal methods are available | |
| ✅ Fast trading interface | |
| ✅ Fully regulated | |
| ✅ Offers a free demo account | |
| ✅ Suitable for traders of all kinds |
Licenses and Restrictions
Deriv is among the most secure brokers around and functions with full licenses and regulations from various agencies. In the EU, the broker is regulated by the Malta Financial Services Authority (MFSA).
For users outside of the EU, Deriv is regulated by many other agencies, such as:
- British Virgin Islands Financial Services Commission
- Vanuatu Financial Services Commission
- Labuan Financial Services Authority
Licenses and regulations help traders ensure that brokers comply with the laid down rules of governments’ financial agencies. In line with laid down conditions, customers also gain from negative balance protection. This means that a trader cannot lose more than the capital deposited.
Additionally, although Deriv is fully licensed by many financial authorities, the broker is still restricted to several countries. Traders from North America for instance, cannot open an account with Deriv. Some other countries where Deriv’s services are restricted include:
- Malaysia
- Israel
- Cuba
- North Korea
- Belgium
- Hong Kong
- Paraguay
- Syria
- Puerto Rico
You can always confirm your country’s trading status with Deriv on the official page to know if trading is possible with this broker.
Getting started with Deriv
Deriv allows users to begin trading with three easy steps. All you have to do is:
- Signup
- Try a demo account
- Start trading for real
Opening an account on Deriv is very straightforward. All you need is your email address and a strong password. All these can be done in a matter of minutes
You will first be required to create a demo account using your email. After inputting your email, a verification message will be sent to your mail. You will have to verify from there and be redirected to the live page to create a strong password. Once done, your demo account is ready for use. A live account can be created by repeating the same process after you have created the demo account.
Deriv Account types
Deriv offers users three main account types:
- Derived account
- Financial account
- Swap-free account
Each of these Deriv MT5 accounts allows users to trade different assets, depending on the location from which you are accessing the platform. Users also have access to a demo account on all the account types. All accounts also have a minimum deposit fee of $5 to begin trading.
Here’s a vivid look at each of these account types:
Derived Account
The Derived account, also known as a Synthetic account, allows users to trade synthetic indices only present on Deriv. These indices mirror real-time market prices and are available for trading 24/7.
Financial Account
The Deriv financial or standard account allows users to trade CFDs with a leverage of up to 1:1500 on 150+ assets. Tradable assets include forex pairs, cryptocurrencies, stocks, and commodities.
Swap-free Account
Deriv’s swap-free account is available on all of the trading platforms, including DMT5, DTrader, and SmartTrader. A Swap-free account gives users access to trade various assets on the broker without having to pay an overnight fee. This account offers higher spreads and commissions when compared to the standard account.
Deriv Demo Trading
Like many other brokers, Deriv offers a free demo account to all users around the world. The demo account presents traders with a simulation of real-time market trends price movements, and analytical tools.
Traders can choose to either get started with a demo account or proceed to open a live account on the platform. With Deriv’s demo account, users get to master the markets, understand how the trading interface on Deriv works, the tools, and ultimately how to maximize profits.
To get access to the demo account, simply head over to any of the Deriv websites and click on the ‘Open Demo account’ option.
The demo account comes with $10,000 in virtual funds and is redeemable in any case of a loss or drawdown. It is a suitable place for both beginners and expert traders to hone their skills before entering into the real markets.
Trading Platforms
There are four trading platforms on Deriv. These are:
- Deriv Trader
- Deriv MT5
- Deriv Bot
- Deriv X
1. Deriv Trader
Deriv’s DTrader platform is a fully customized trading system designed for Deriv traders. The platform gives access to 50+ tradable assets, with a flexible trade duration of 1s to 365 days and a 200% payout possibility.
The charts on the platform can be utilized to meet the trader’s demands, and they provide multiple technical indicators for proper analysis.
What’s more interesting is the DTrader’s user interface which runs smoothly and ensures a quality user experience.
2. Deriv MT5
Deriv gives traders access to the most popular and comprehensive CFD platform.
With the D MT5, users have access to multiple instruments for trade, including forex, stocks and indices, exchanged traded funds, Derived indices, cryptocurrencies, and commodities. This, along with 200+ tradable assets and access to innovative trade types, makes Deriv MT5 stand out, giving a rich experience to both New and expert traders.
Additionally, users also have access to a demo account on the platform, can trade round the clock, and don’t have to be worried about any extra charges on Swap-free accounts.
3. Deriv Bot
Deriv Bot is a Zero-cost, fully configurable trading bot that allows users to maximize profits, limits, and market trends in the fastest time. The bot can be set up in just five easy steps and allows traders access to 50+ assets.
As one of the best in the market, DBot also comes with 6 pre-built strategies and allows access to popular strategies such as Martingale, Oscar’s Grind, and more. Another useful feature is its performance tracking ability, coupled with the ability to save strategies to Google Drive.
4. Deriv X
Deriv X is a multi-asset trading platform with customizable features that offers CFDs on forex, cryptocurrencies, commodities, exchange-traded funds, and many others with zero commission and a fully versatile trading experience.
With Deriv X, users have access to 100+ assets to trade on various markets, available on a 24/7 basis. It is the broker’s second-best CFD platform, following the custom MT5 platform, and is enriched with features that suit diverse trading styles. It is also laced with 90+ indicators for users to choose from.
Deriv Deposit and Withdrawals
One of the most exciting perks of choosing to trade on Deriv is the variety of payment methods that it allows. This way, users don’t have to worry about how to deposit or withdraw their funds.
Deposit Methods
Deriv offers a variety of deposit methods to cater to the needs of its global user base. Here are some of the deposit options available:
- Bank wires: A traditional method for transferring funds, with a minimum deposit of $5.
- Debit/Credit cards: Including VISA, MasterCard, Maestro, Diners Club, and JCB.
- E-wallets: Options like FasaPay, Perfect Money, Skrill, Neteller, WebMoney, Paysafecard, and OnlineNaira.
- Cryptocurrencies: Tokens like BTC, ETH, SOL, and many others are allowed on the Deriv platform.
Additionally, Deriv provides the option to manage funds through a Payment Agent if the service is available in your country. It’s important to note that the availability of these payment methods may vary based on your country. Deriv also does not charge any fees for making a deposit.
Withdrawal Methods
Deriv provides several withdrawal methods to ensure a smooth transaction process for its users worldwide. Some of the available withdrawal options are:
- E-wallets: You can withdraw funds using various e-wallet services.
- Credit or Debit Cards: Withdrawals can be made through major cards like MasterCard and Visa.
- Bank Wire Transfer: Users can withdraw directly to their bank account. Like the Deposit method, Deriv does not charge any fees for user withdrawal.
- Cryptocurrencies: Deriv supports withdrawals in various cryptocurrencies, including BTC, SOL, ETH, ADA, and many more.
- Payment Agents: If available in your region, you can manage withdrawals through authorized Payment Agents.
- Deriv Peer-to-Peer: This platform allows you to perform transactions with other Deriv users through its peer-to-peer network.
The withdrawal process is designed to be user-friendly, with Deriv committed to processing transactions as quickly as possible. While deposits are typically instant, withdrawals may take up to one business day to process. The actual time for funds to reach your account will depend on the method you choose and your bank or payment provider.
Deriv Fees
Deriv’s trading platform offers competitive fees and spreads for its users. Here are some key points regarding their fee structure:
- Spreads: Deriv’s spreads start from as low as 0.5 pips, which is quite tight and can be beneficial for traders looking to minimize trading costs.
- Commission-Free Trading: Deriv provides commission-free trading, which means you won’t be charged a separate commission for the trades you make.
- No Deposit or Withdrawal Fees: There are no fees charged for depositing or withdrawing funds, making it cost-effective for managing your finances.
- No Inactivity Fees: Deriv does not document any inactivity fees, so you won’t be penalized for not trading.
Deriv Mobile App
Deriv mobile app is integrated with the MT5 feature like the web terminal, optimized for on-the-go trading, known as Deriv GO. With the mobile app, users have access to trade CFDs, forex, derived indices, cryptocurrencies, and multipliers, with up to x1000 of potential profit, and a minimum stake of 1USD
Additionally, the mobile app contains user-friendly features that allow for the smooth running of trading activities from the comfort of a phone. Users can access trade any time, any day.
Deriv GO is available for download on all Android and iOS devices.
Deriv Security
Deriv employs a range of security measures to ensure the safety of its users’ data and funds. Here are some of the key security features:
- Account Verification: Deriv requires users to verify their accounts to enhance security and comply with regulatory requirements.
- Two-Factor Authentication (2FA): Deriv supports 2FA, providing an extra layer of security for user accounts. This feature requires a second form of identification beyond just the password, which can be a code from an app like Authy or Google Authenticator.
- Encryption Protocols: The platform uses advanced encryption protocols to protect user data and financial information during transmission and storage.
- Secure Payment Gateways: For transactions, Deriv uses secure payment gateways to prevent unauthorized access and ensure the integrity of financial data.
- Protection from Impersonation: Deriv offers guidance on how to identify and stay safe from impersonators on platforms like Telegram, as well as how to recognize genuine emails from Deriv customer support.
Deriv Customer Support
Deriv provides 24-hour live support for users to reach at any time with difficulties or complaints while using the broker. Answers are provided generally via the help center or Live chat support. Users can also reach the support team via direct contact via email, or through one of the available offices stationed worldwide.
Bottom line
Deriv is one of the oldest brokers to have stormed the world of CFD and options trading. It was formerly under the umbrella of Binary.com before the company changed form into what it is today. The zero-fee policy that the broker offers is also one to look out for, making it one of the most cost-effective brokers around.
Deriv has a user review of 4.5* on Trustpilot, showing that customers are well pleased with the services it offers. Our overall verdict on Deriv is that it is a good platform to try out. However, if you do not want an account with this broker, or have any restrictions on your end, you can check out some alternatives to Deriv, such as Pocket Option and Quotex
FAQs
What payment methods can I use for deposits and withdrawals?
Deriv offers various payment methods including bank wires, debit/credit cards, e-wallets, and cryptocurrencies.
Do I need to verify my Deriv account?
Yes, account verification is necessary to comply with regulatory requirements and enhance account security.
What is Deriv MetaTrader 5 (Deriv MT5)?
Deriv MT5 is a trading platform that allows you to trade forex, stocks, and commodities online.
What markets can I trade on Deriv X?
On Deriv X, you can trade forex, commodities, cryptocurrencies, and synthetic indices.
Does Deriv offer bonuses?
There are currently no available bonuses on the broker.
