Deriv is an online trading platform that offers binary options, forex, and other financial instruments. It is owned and operated by Deriv Limited, a company registered in Malta and regulated by the Malta Financial Services Authority (MFSA). It was formerly known as Binary.com before rebranding as Deriv in 2020.
Deriv provides a wide range of trading instruments across different asset classes. Traders can access binary options, where they speculate on the price movement of an asset within a specified time frame. Additionally, Deriv offers forex trading, allowing users to trade currency pairs. The platform also supports trading in commodities like gold and oil, as well as popular indices such as the S&P 500 or FTSE 100.
The Broker offers a diverse range of services through multiple trading platforms, such as DMT5, Dtrader, Dbot, and Smart Trader. Thus, traders may select the ideal trading product and platform based on their individual preferences and requirements.
While the recent rebranding may have introduced the name Deriv.com, the company’s expertise and reputation in online trading remain rooted in its extensive experience as Binary.com.
It’s worth noting that this broker has a long-standing history spanning two decades, and it is important to highlight that this well-established brokerage firm was previously known as Binary.com.
In this Deriv review, I will examine the platform’s features, benefits, and drawbacks to assist you in determining whether it is the suitable broker for your trading requirements. Additionally, I will delve into the company’s customer support, account types, fee structure, and other pertinent information to provide you with a comprehensive overview of this broker and its services.
Deriv Limited is registered and regulated by multiple regulatory authorities to ensure compliance with financial regulations and provide a secure trading environment. The regulatory bodies overseeing Deriv.com depend on the region where clients are based. Here are some of the regulatory authorities that oversee Deriv.com’s operations:
- Malta Financial Services Authority (MFSA): Deriv Limited is registered in Malta and regulated by the Malta Financial Services Authority. The MFSA is a reputable regulatory body that supervises and regulates financial services in Malta.
- Labuan Financial Services Authority (LFSA): For clients residing in specific regions, such as Malaysia, Deriv.com is regulated by the Labuan Financial Services Authority in Malaysia. The LFSA is responsible for regulating and supervising financial services in Labuan, Malaysia.
- Vanuatu Financial Services Commission (VFSC): Deriv.com is also regulated by the Vanuatu Financial Services Commission. The VFSC is a regulatory authority in Vanuatu responsible for overseeing financial services and ensuring compliance with relevant regulations.
It’s important to note that regulation provides some level of oversight and protection for traders. Regulatory bodies impose certain requirements on brokers to safeguard client funds, ensure fair trading practices and provide dispute resolution mechanisms.
Deriv.com offers multiple trading platforms to cater to different trading preferences and strategies. Here are some details about the trading platforms offered by Deriv.com:
With these various trading platforms, Deriv.com aims to cater to the diverse needs and preferences of its clients, whether they are experienced traders seeking advanced tools or beginners looking for user-friendly interfaces.
Availability of specific platforms and their features may vary depending on your region and the services provided by Deriv.com. It’s advisable to visit the official Deriv.com website or contact their customer support for the most accurate and up-to-date information on their trading platforms and services.
Deriv offers different account types to cater to the varying needs and preferences of traders. While the specific account types may evolve over time, here are some common account types offered by Deriv for binary options trading:
- Virtual Account (Demo Account): Deriv provides a Virtual Account, also known as a demo account, which allows traders to practice and familiarize themselves with the platform and its features without risking real money. The demo account is a valuable tool for beginners to gain experience and test trading strategies in a risk-free environment.
- Standard Account: This is typically a basic account type suitable for traders who want to start with a standard trading experience. It may have moderate minimum deposit requirements and offer access to a range of trading instruments and features.
- Advanced Account: An Advanced Account might offer additional benefits compared to a Standard Account, such as higher leverage, lower fees, or access to exclusive trading tools and resources. This account type is suitable for more experienced traders seeking enhanced trading conditions.
- VIP Account: A VIP Account is often designed for high-volume or high-net-worth traders. It may offer premium features, personalized support, customized trading conditions, and other exclusive benefits. VIP Accounts usually require a higher minimum deposit and might have specific eligibility criteria.
The Broker offers a diverse range of assets across various financial markets for trading.
- Forex: Deriv allows you to trade a wide range of currency pairs in the forex market. Major currency pairs, such as EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs, may be available for trading.
- Commodities: Deriv offers trading opportunities in popular commodities, allowing you to speculate on the price movements of assets like gold, silver, oil, natural gas, and more. Trading commodities can be attractive for diversifying your investment portfolio.
- Indices: Deriv enables you to trade indices, which represent a basket of stocks from a specific market or sector. Examples of indices that may be available for trading include the S&P 500, NASDAQ, Dow Jones Industrial Average, FTSE 100, and more.
- Cryptocurrencies: You can potentially trade a selection of cryptocurrencies on Deriv, including popular options like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others. Cryptocurrency trading allows you to speculate on the price movements of digital assets.
- Synthetic Indices: Deriv also offers synthetic indices, which are simulated markets created by the platform. These indices provide continuous trading opportunities, even during times when the underlying real-world markets are closed. Synthetic indices may have names like Volatility Index (VIX), Crash & Boom Index, and Step Index.
Please note that the availability of specific assets and markets may depend on your geographical location and the regulatory framework in place.
Deriv provides customer support to assist traders with their inquiries and concerns. Here are some key points regarding their customer support:
- Multilingual Support: Deriv offers customer support in multiple languages to cater to its global clientele. The availability of specific languages may vary, but commonly supported languages include English, Spanish, Portuguese, Chinese, Russian, and more. This helps ensure effective communication and assistance for traders from different regions.
- Contact Channels: Deriv provides various channels through which traders can reach out to customer support. These channels may include email support, live chat functionality directly on their website, and telephone support. The availability and operating hours of each contact channel may vary, so it’s advisable to check the Deriv website for the most up-to-date information.
- Knowledge Base and FAQs: Deriv typically maintains a comprehensive knowledge base and frequently asked questions (FAQs) section on their website. This resource can be valuable for finding answers to common queries related to account management, platform features, trading processes, and more. Traders can often find detailed information and solutions to common issues without needing to directly contact customer support.
- Responsive Support: Deriv aims to provide timely and responsive customer support to address traders’ concerns promptly. The specific response time may depend on the complexity of the inquiry and the volume of incoming requests. While Deriv strives to offer efficient support, response times may vary during peak periods.
- Educational Resources: In addition to traditional customer support, Deriv offers a range of educational resources, such as tutorials, articles, videos, and webinars, to help traders enhance their knowledge and skills. These resources can assist traders in understanding platform functionalities, trading strategies, and market analysis.
Deposit and Withdrawal Methods
Deriv offers various deposit and withdrawal methods to provide convenience and flexibility for traders. While the specific options may vary depending on your region and account type, here are some common methods that The Broker supports:
- Bank Wire Transfer: Bank wire transfer allows you to deposit and withdraw funds directly from your bank account to your Deriv trading account. This method typically involves a longer processing time and may incur additional fees charged by the banks involved.
- Credit/Debit Cards: Deriv accepts major credit and debit cards, such as Visa and Mastercard, for both deposits and withdrawals. This method offers a quick and convenient way to fund your account or withdraw funds. However, do note that some card issuers may treat deposits to trading accounts as cash advances and may charge additional fees.
- E-Wallets: Deriv supports popular e-wallet services like Skrill, Neteller, and WebMoney for deposits and withdrawals. E-wallets provide a fast and secure way to transfer funds between your trading account and the e-wallet account.
- Cryptocurrencies: Depending on your region and account type, Deriv may offer the option to deposit and withdraw funds using cryptocurrencies. Commonly supported cryptocurrencies include Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and Litecoin (LTC).
Bonus and Promotions
Deriv.com offers various bonuses and promotions to provide additional benefits and incentives to traders. However, it’s important to note that the availability and terms of these bonuses may vary based on your region and account type. Here are some common types of bonuses and promotions that Deriv.com may offer:
- Welcome Bonus: As a new trader, you may be eligible for a welcome bonus when you open an account with Deriv.com and make an initial deposit. The welcome bonus is often awarded as a percentage of your deposit and can provide extra trading funds.
- Deposit Bonuses: Deriv.com occasionally offers deposit bonuses for existing traders. These bonuses are usually based on a percentage of the deposited amount and can be claimed when you make additional deposits into your trading account.
- Cashback Offers: Some promotions may involve cashback offers, where you can receive a percentage of your trading losses back as a cash bonus. This can help mitigate potential losses and provide an additional boost to your trading account.
- Trading Contests and Competitions: Deriv.com may organize trading contests or competitions where traders can participate to win prizes or additional bonuses based on their trading performance. These events can provide an exciting opportunity to showcase your trading skills and potentially earn extra rewards.
- Loyalty Programs: Deriv.com may have loyalty programs in place to reward traders for their continued trading activity and loyalty. These programs often offer tiered benefits based on trading volumes or account activity, such as enhanced bonuses, personalized support, or other exclusive perks.
Please carefully review the terms and conditions associated with any bonuses or promotions offered by Deriv.com. Bonus funds usually come with specific requirements, such as trading volume targets or time limitations, before you can withdraw them. Make sure to familiarize yourself with the terms and eligibility criteria to fully understand how the bonuses work.
How to Open Account at Deriv
- Visit the Deriv website: Go to the official website of Deriv.com using a web browser.
- Click on “Sign up” or “Create free account”: Look for a prominent button or link on the homepage that allows you to sign up for a new account.
- Fill out the registration form: You will be directed to a registration form where you need to provide your personal details. This typically includes your name, email address, country of residence, preferred account currency, and password. Make sure to provide accurate information.
- Read and accept the terms and conditions: Review the terms and conditions, as well as any other legal agreements, presented by Deriv. It’s important to understand and agree to the terms before proceeding.
- Account verification: Depending on the regulatory requirements and Deriv’s policies, you may need to complete an account verification process. This typically involves providing additional documents to confirm your identity and address, such as a copy of your identification document (e.g., passport or driver’s license) and a utility bill or bank statement.
- Fund your account: After successfully registering your account, you will need to deposit funds to start trading. Deriv supports various deposit methods, as discussed earlier, such as bank wire transfer, credit/debit cards, e-wallets, or cryptocurrencies. Choose the method that suits you best and follow the instructions provided by Deriv to deposit funds into your account.
- Begin trading: Once your account is funded, you can access the trading platform provided by Deriv and start exploring the available markets and trading instruments. Familiarize yourself with the platform’s features, tools, and order placement options to execute your trades.
You should consider that the account opening process and specific requirements may vary based on your country of residence and the regulatory framework in place. Additionally, certain eligibility criteria, such as age restrictions, may apply.
Deriv is a well-established online trading platform that offers a range of trading options and features to traders. While the final verdict on whether Deriv is suitable for you depends on your individual trading needs and preferences, here is a summary of the key aspects to consider:
- Diverse Range of Trading Instruments: Deriv provides a wide selection of assets to trade, including forex, commodities, indices, cryptocurrencies, and options. This allows traders to explore different markets and find opportunities that align with their trading strategies
- User-Friendly Interface: The trading platforms offered by Deriv are designed to be user-friendly, with intuitive interfaces and a range of tools and features to assist traders in their analysis and decision-making.
- Regulatory Compliance: Deriv is regulated by reputable financial authorities, including the Malta Financial Services Authority (MFSA) and the Labuan Financial Services Authority (LFSA), providing a level of trust and security for traders.
- Educational Resources: Deriv offers educational resources, such as tutorials, articles, videos, and webinars, to help traders enhance their trading knowledge and skills. These resources can be valuable for both beginner and experienced traders looking to expand their understanding of the markets.
- Limited Accessibility: Deriv’s services may not be available to residents of certain countries due to regulatory restrictions. It’s important to check if Deriv accepts traders from your country before considering their platform.
- Complex Account Types: Deriv offers multiple account types with varying features and benefits. Understanding the differences and selecting the right account type can be a bit overwhelming for new traders.
- Limited Cryptocurrency Options: While Deriv supports trading in cryptocurrencies, the range of available cryptocurrencies may be relatively limited compared to specialized cryptocurrency exchanges.