Deriv Review
DERIV REVIEW
Deriv.com is a new broker platform developed and backed by Binary.com, which offers CFDs, binary options, and forex trading on their web-based platform (DTrader), deriv MT5 platform (DMT5), and automated trading system called DBot as well as the new Deriv X buy or sell share market with derivs binary Options. Let’s have an in-depth analysis & get an honest Deriv Exchange Review of its features.
Company Overview
After serving retail customers for 20 years, Binary.com has undergone a rebrand to the new and improved Deriv Forex. The platform offers an expanded product range, enhanced user experience, plus a shiny new logo! In gradual transition over one year’s time one million old clients responsible for 43 million trades each month and $6 monthly withdrawals will migrate to Deriv’s website.
| Founder / CEO | Jean-Yves |
| Established Year | 1999 |
| Publicly Traded | No |
| Total Employees | 50+ |
| Regulations | Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC) |
| Headquarter | Malaysia |
Trading Platforms
DMT5
The platform is simple to use, but it has a lot of functions. It works well as a complement to MT5 but provides various features.
Besides, it has most elements that traders look forward to. It is also simple to operate in accordance with the pattern requests of the traders.
Users can also open several windows at once. They could also choose to detach and move the windows as they wish.
DTrader
The customisable DTrader platform offers a clean interface and over fifty tradable assets. It also allows Deriv traders to have power of the charts with indicators and widgets, as well as trade types which can be adjusted according to desired size, duration or payout.
The optimal user experience is delivered by this platform- it provides both graphical beauty and an easy navigational structure for traders’ convenience.
DBot
Deriv.com’s automated trading service is one of the best and most reliable on the market. The DBot platform offers a straightforward path to getting set up using algorithmic investing, and trading bots are free to develop – they can be built in five steps, and can be used on over 50 assets!
There are also three pre-built strategies that Deriv traders can use as they start off their journey with these algorithms; a useful additional feature is the performance tracker which will help you make tweaks so as to maximize your returns.
Deriv X
Deriv X is an innovative CFD trading platform that covers forex, commodities, and cryptocurrencies. The entire UI can be customized by dragging and dropping widgets for your own layouts as well as creating a unique user interface.
One helpful feature of this software is the margin impact on every potential position before it’s an opened-the tool gives you all the information you need to make a decision! There are over 90 built-in indicators and 13 drawing tools in Deriv X so you’ll never get bored with your charts.
Assets & Markets
Deriv.com offers over 100 different products, including:
- Forex (close to 50 FX currency pairs)
- Stock indices (speculate on price movements of the largest US, Asian and European stock indices)
- Synthetic Indices (based on a random generator to replicate real-world market conditions 24/7 and deliver consistent volatility)
- Commodities like gold or silver or oil
Here at Deriv.com, we offer a wide range of options and multipliers so you can make the most out of your trades. Options let traders predict price movements without owning the underlying asset and with twelve different payouts available, this is an excellent way to take advantage of potential profits.
Deriv Forex Multipliers also give traders access to leverage which enhances their position in any trade by taking multiple positions; this does come with more risk but not as much as margin trading because here users cannot lose more than their initial deposit.
Spreads & Commissions
Deriv.com is a company that offers minimal trading fees and tight spreads. However, as the company has just been launched, there are limited data points on their average spread or commission rates at this time.
Leverage
Deriv offers up to 1:1000 leverage. This means you can take larger positions by putting down a small deposit and increasing the potential for returns. Margin requirements and levels of leverage vary depending on your account type in the region you are registered from (for example EU regulations limit retail traders’ FX major currency pairs options to 1:30).
Mobile App
At the moment, there is no mobile trading option on Deriv.com but this is likely to be in part due to the brand and platform refresh. Once this process has been completed, derivs traders will not have any problems accessing iOS or Android apps that allow them to trade on their phones.
Deriv.com Payment Methods
The breadth of deposit and withdrawal options available was a key selling point for this review.
Deposits
Deposits made to your account can be done using the following options:
- Bank wire transfers (start at just $5 with most deposits processed instantly)
- Credit/debit cards (both Visa and Mastercard can be used with minimum deposits starting at 10 USD/GBP/EUR/AUD, they are all processed instantly)
- E-wallets such as Skrill, Neteller, PaySafe, or Fasapay have a minimum deposit of 5 USD. Payments made via e-wallet are also instant (minimum deposit is not charged). Derivs does not charge any fees for making this kind of payments in multiple currencies.
Withdrawals
You can withdraw funds from your Deriv.com account using any of the deposit payment options. Bank withdrawals start at 5% of your base currency and are processed in 1-2 working days, while debit/credit card deposits take place with a minimum withdrawal amount set at 10% (or £10).
Withdrawals to e-wallets require a minimum balance of $5 which takes one day to process, or you can wait for Bitcoin withdrawal confirmation which will happen within 3 blockchain cycles. As with depositing money onto Deriv Exchange, there are no fees associated with making withdrawals – this makes it easy and cost-effective when withdrawing profits!
Demo Account
There are no active promotions at the moment, but with a broker promising such low minimum deposits and competitive fees it’s understandable. The 2018 EU regulation restricts Deriv’s bonuses to traders coming from Europe, but there might be some offers for existing clients in their website.
Bonuses & Promotions
Deriv.com is a trustworthy broker that’s regulated in multiple jurisdictions including the Malta Financial Services Authority (FSA). For traders outside of the EU, it’s licensed by Vanuatu Financial Services Commission (FSC) and the British Virgin Islands Financial Services Commission (FSA). In addition, Deriv.com benefits customers from negative balance protection so users can’t lose more than their deposit – this depends on what financial services compensation scheme regulators have put into place for your jurisdiction.
Account Types
Standard, MT5 (DMT5), and Synthetic Indices. Each type will provide different trading opportunities for the trader- from binary deriv options to CFDs, through MT5. Different account types are available depending on where in the world a trader is located; EU traders have different accounts than those from South Africa or Singapore because of ESMA regulations and Deriv’s licensing practices.
Deriv offers 2 types of accounts:
- Standard – for binary and CFD trading with MT5 deriv.
- MT5 (DMT5) – a Deriv platform that is only available in the EU due to ESMA regulations. Synthetic Indices- combining various indices from countries around the world, this type of trading will be available to all traders anywhere in the world under Deriv’s licensing requirements.
Drawbacks
Downsides to opening an account with Deriv include limited sign-ups and promotions, no social trading, and copy trading. Deriv.com doesn’t offer the plethora of educational resources found at many online brokers and this is unfortunate, as strategy tips and market commentary can be useful for beginners- or those who plan to learn more about trading in general. With that said, we do expect Deriv.com to bolster their additional resources once they complete the rollout of their new trading system.
Trading Hours
Trading at Deriv.com is available 24 hours a day, 7 days a week following respective market trading hours. With that said, weekend trading usually sees less volume and therefore the spreads are less competitive when compared to weekday trades.
Customer Support
Their customer support is available twenty-four hours a day, seven days a week through:
- Help Centre – The self-service portal can help with queries like account questions or platform issues.
- Live Chat – Live chat support is now available on the website 24/7. The only thing not taken care of when it comes to customer service are live chat channels which can be fast and helpful avenues for assistance.
Security
Deriv is a broker that implements SSL website encryption to secure sensitive client data. Derive’s security protocols are in line with the industry, so users can trust them to handle their personal information responsibly.
Can You Still Trade On Binary.com?
Deriv.com is the latest evolution of Binary.com, which was hugely popular before it closed its virtual doors in January 2017. It offers several platforms that suit traders styles and objectives while allowing them to deposit funds or withdraw profits quickly and easily; plus, signing up with a reputable company licensed in multiple jurisdictions will benefit users even more.
Deriv.com Verdict
Deriv.com offers binary options, contracts for difference (“CFDs”) and other complex derivatives on their website. Trading these products may not be suitable for everyone because of the high level of risk that comes with leverage- depending on what happens it can both work in your favor or against you!
They are also never advisable to invest money that you cannot afford to lose. When trading in the more complex products offered by Deriv, please make sure beforehand that you fully understand the risks involved before trading!
Accepted Countries
Deriv.com accepts traders from many countries, including Australia, Thailand, the United Kingdom, South Africa Singapore, and India. Traders can not use Deriv.com in the following countries: Canada; Hong Kong; Israel; France; Jersey; Malaysia; Malta Paraguay and UEA.
Deriv.com – Conclusion or Verdict
Deriv is very user-friendly and easy to use. The trader can make a choice from many platforms that are tailored to their trading methods and styles, making it easy for them to deposit or withdraw profits.
There aren’t too many online trading brokers that offer these kinds of low financial requirements with so much variety in the platforms they offer traders- this makes Deriv Forex unique among its peers.
With lots of educational features like free signals, tons of different interesting features, great bonuses and other useful tools available on the platform as well as excellent customer service when you need them- there’s no denying how it has become one of our favorite options for traders looking for something better than average!
