In this detailed Deriv review, I will provide an in-depth analysis of the broker including its pros and cons. I will also examine its key features, trading conditions, customer support, and overall user experience to help you decide to choose Deriv Broker as your trading partner.
I have used this broker for almost ten years from the days when it was called binary.com, so I will share my first-hand experience.
What Is Deriv?
Deriv Broker is an online trading platform that offers a wide range of financial instruments for trading, including forex, commodities, cryptocurrencies, and synthetic indices.
The broker has over 20 years of experience and offers some of the most innovative services on the forex market through its proprietary trading platforms like Deriv X and Deriv Go.
The broker boasts over 3 million clients from all over the world and has won multiple industry awards.
Is Deriv a trustworthy broker?
Yes, Deriv is a legit, regulated and trustworthy broker. Deriv is regulated by several reputable financial authorities, including the MFSA (Malta), LFSA (Malaysia), BVI FSC (British Virgin Islands), and VFSC (Vanuatu).
Broker regulation is important because it shows that the broker adheres to strict operational guidelines that ensure it does not scam its clients.
Where is Deriv Broker Located?
Deriv (SVG) LLC is located in Hinds Buildings, Kingstown, St. Vincent and the Grenadines (company no. 273 LLC 2020). The broker also has offices in Dubai (UAE), Malta, Cyprus, Malaysia (3), France, Channel Islands, Paraguay, Rwanda and Belarus.
Deriv Account Types
Deriv Offers three main account types and these are:
- Derived Account (formerly synthetic indices account)
- Financial account
- Swap-Free account
In addition, Deriv also offers the https://bestreferralcode.com/deriv_2024 and the Deriv X account. All these Deriv account types have demo accounts that you can practice with virtual money.
All Deriv accounts are audited for fairness by an independent third party and have a minimum deposit of $5.
Let's look at each account type in depth below.
Deriv Derived Account
The Derived account from Deriv allows you to trade synthetic indices like boom and crash, volatility indices, and jump indices which are only offered by Deriv.
Synthetic indices are designed to copy the movement of real-world assets but are unaffected by real-world events such as news, economic releases, and others.
The Derived account (also known as Deriv synthetic indices account) allows 24/7 trading even during the holidays.
The account offers a variety of volatility levels to choose from, bringing so much convenience to traders.
Deriv Financial Account
The Deriv Financial account (formerly called the Deriv standard account) allows CFD trading on up to 170+ assets including major and minor forex pairs, stocks, stock indices, commodities, cryptocurrencies and ETFs, with leverage of up to 1:1500.
The account offers Straight-Through-Processing (STP) execution with tight spreads.
Deriv Swap-Free Account
The Deriv swap-free account allows you to trade on forex, indices, commodities, and cryptocurrencies without paying any overnight interest fees.
This makes it a good choice for traders who follow Islamic principles, as well as traders who simply want to avoid paying overnight fees.
Deriv swap-free accounts are available on all of the broker's trading platforms, including DTrader, SmartTrader, and DMT5.
The spreads and commissions on swap-free accounts are generally slightly higher than on standard accounts, but this is to offset the cost of the broker providing swap-free trading.
How Do You Open A Deriv Live Account?
This Deriv review found that opening a Deriv real account is straightforward. Follow the steps below.
1. Visit the Deriv live account sign-up page. You will see a page like the one below.
2. Enter your email and agree to the terms and conditions. Click on ‘Create demo account‘
3. Confirm your email address and then add your personal details over the next few screens.
4. Once your email address is verified, you will be logged into your Deriv demo account with $ 10,000 in virtual funds that you can use to play around. You can then proceed to open the Deriv real account type you want.
Click on the (1) ”Trader's Hub option” on the top left of your dashboard. Then click (2) ‘Real‘ > (3) ‘CFD's‘. You can then choose the real Deriv account type you want to create from the options. Click ‘Get‘ and choose a jurisdiction for your Deriv mt5 derived account.
Trading Assets Offered By Deriv
Deriv broker offers over 100 products for trading including:
- Forex – Close to 50 FX currency pairs, including majors, minors and exotics
- Stock indices – Speculate on price movements across the largest US, Asian and European stock indices
- Synthetic indices – Based on a secure random generator, synthetic indices replicate real-world market conditions and are available 24/7 delivering consistent volatility. These are only offered by Deriv.
- Commodities
- Precious metals, such as gold and silver, plus energies like oil are available
- Cryptocurrencies
Deriv Deposit & Withdrawal Methods
Deriv offers several deposit and withdrawal methods to bring convenience to its clients.
💳 Credit & Debit cards
💳 Perfect Money
💳 Payment Agents & Dp2p
💳 WebMoney
💳 Crypto (Bitcoin, Ethereum, Litecoin and Tether)
💳 Paysafe
💳 Zingpay
💳 Jeton
💳 Fasapay
💳Bank wire transfer
Deriv Minimum Deposit
Deriv has a minimum deposit requirement of only $ 5 when using e-wallets like AirTM, WebMoney, PerfectMoney, Neteller and Skrill.
Other deposit methods have different Deriv minimum deposits as explained below.
Credit/debit cards – Deriv accepts and processes instantly deposits made via both Visa and Mastercard. The Deriv minimum deposit using credit cards is 10 USD/GBP/EUR/AUD.
Bank wire transfer – Deriv Minimum deposit using bank wire transfer is $10 with most deposits processed instantly.
Cryptocurrency – Deriv accepts cryptocurrencies for deposits. You can use Bitcoin, Ethereum, Litecoin and Tether for deposits. There is no Deriv minimum deposit when using cryptocurrencies, with payments processed in three blockchain confirmations.
Payment Agents – The Deriv minimum deposit you can make via payment agents is 10 of your base currency.
Deriv Peer to Peer (Dp2p)- The Deriv minimum deposit via dp2p is 1 of your base currency.
A good point is that Deriv Broker does not charge fees for making deposits. This reduces the trading costs.
Deposit and withdrawal currencies that are accepted by Deriv include:
- EUR
- USD
- GBP
- AUD
Please note, you can only choose one of these currencies as your base currency and once you have made a deposit you will not be able to change that base currency for your account.
Deriv Minimum Withdrawal
The Deriv minimum withdrawal is $5 depending on the withdrawal method used.
- E-Wallets$5 of your base currency
- Credit Cards$10 of your base currency
- Payment Agents$10 of your base currency
- Deriv peer-to-peer$1
- CryptocurrenciesBitcoin offers the lowest minimum withdrawal of 0.0026
Deriv Fees & Spreads
My experience with Deriv forex broker is that the broker offers tight spreads that start from 0.5 pips on EUR/USD. This is much lower than the industry average making the broker very affordable.
Moreover, the broker offers competitive spreads for other trading instruments, including stocks, indices, cryptocurrencies, and commodities, making it an attractive option for traders across different markets.
Deriv Broker also provides commission-free trading and does not charge deposit or withdrawal fees, making it a cost-effective option for traders.
Additionally, if a trader holds a position for more than one day, they will be subject to overnight fees. This doesn't apply to clients using a swap-free account. The broker also imposes an inactivity fee of $25 on accounts that have been inactive for over 12 months.
Deriv Trading Platforms
I am very impressed with the wide range of trading platforms Deriv offers. No other broker has such a variety of proprietary trading platforms in my experience.
Let us look at those platforms and highlight their key features.
Deriv MetaTrader 5 (DMT5)
DMT5 is Deriv's exclusive version of the MT5 platform developed by MetaQuotes Software.
MT5 offers exceptional charting capabilities, a wide range of technical indicators, and advanced order types.
You can access the DMT5 as a downloadable application on desktop and mobile (both Android & iOS). You can also access DMT5 on your browser as WebTrader although this has limited functionality.
Learn more about DMT5
D Trader
DTrader is a web-based trading platform designed for traders who prefer a simplified and intuitive interface. It offers a user-friendly trading experience with easy-to-use features and quick order execution.
You also tailor your charts to meet your needs with technical indicators and widgets you need to make smarter trading decisions.
DTrader is suitable for both novice and experienced traders and provides access to various financial markets, including forex, commodities, and synthetic indices.
It also offers basic charting tools and a range of trade types, such as Up/Down, Higher/Lower, and Touch/No Touch.
You can also trade multipliers on D Trader.
Deriv X
Deriv X is a CFD trading platform that lets you trade various assets in multiple markets simultaneously. It's fully customisable and packed with features that let you personalise your trading environment.
You can drag and drop the widgets you'd like to use, apply over 90 indicators and 13 drawing tools, and keep track of your progress and historical trades on one screen.
Trading synthetic indices on Deriv X is only available with a Derived Synthetics account. You can access Deriv X via a desktop as well as Android and iOS mobile devices.
Learn more about Deriv X
DBot
DBot is Deriv’s trading platform that lets you build a trading robot to automate your trades.
You don't need coding experience to build your bots. All you need to do is drag, drop, and configure pre-built blocks and indicators onto a canvas to build your bot. You can also select from a variety of pre-built strategies or set up your own.
DBot doesn't require constant monitoring, allowing you to step away from your computer without missing opportunities.
Just set your trading parameters and let the bot do the trading for you. You can trade synthetic indices with options on DBot. DBot can be accessed from a desktop device.
Traders can backtest their strategies using historical data and then deploy them on the live market using DBot.
Deriv Go
Deriv GO is a mobile trading app from Deriv that allows traders to trade a variety of financial products, including forex, synthetic indices, commodities, and cryptocurrencies. The app is available for both iOS and Android devices.
With this platform, you can trade synthetic indices with multipliers where you can take advantage of risk management features such as stop loss, take profit, and deal cancellation to manage your trades.
Deriv Go offers competitive fees and spreads.
You can download Deriv GO from the Google Play Store, Apple App Store, and Huawei App Gallery.
Deriv EZ
Deriv EZ is a user-friendly CFD trading platform that offers instant access to all your favourite assets.
There is no additional account ID or password to remember, so you can fully focus on your trading.
Trade on Deriv EZ and access over 150 assets in forex, stocks and indices, commodities, cryptocurrencies, and derived indices.
Deriv Copy Trading Via cTrader
Deriv copy trading is a platform that allows you to automatically copy the trades of other users, known as “strategy providers.” These providers have proven track records and share their trading decisions with followers, like you.
As a follower, you can choose which providers to copy, set your investment amount, and sit back as Deriv automatically executes the same trades on your behalf via Deriv cTrader.
Deriv social trading can be a great way for new traders to learn and grow, and it can also be a way for experienced traders to generate additional income.
With their user-friendly interfaces, advanced features, and flexibility, Deriv platforms offer a well-rounded trading experience.
In conclusion, this Deriv review found that the broker's trading platforms provide a solid foundation for traders of all levels.
Deriv Trade Types
Deriv Forex Broker offers three trade types.
CFD trading On Deriv broker
A CFD (contract for difference) allows you to trade on the price movement of an asset, without buying the underlying asset. On Deriv, you can trade CFDs with high leverage and tight spreads. Trade on financial markets plus Deriv's proprietary synthetic indices that are available 24/7.
Multipliers Trading On Deriv Forex broker
Deriv multipliers combine the upside of leverage trading with the limited risk of options. This means that you'll multiply your potential profits when the market moves in your favour. If the market moves against your prediction, your losses are limited only to your stake.
Options Trading On Deriv
Binary options are products that allow for payouts from predicting market movements, without needing to buy the underlying asset. You only need to open a position that predicts how the asset will move over a period of time.
This makes it possible for people to participate in the financial markets with minimal capital investment of just 35 cents per contract.
Deriv Sign-up Bonus
Deriv Broker does not offer a sign-up bonus, a deposit bonus, or a welcome bonus.
Even though Deriv does not offer bonuses, rewards, or any other promotions, traders should not be discouraged by this. The broker still offers attractive trading conditions.
Deriv Customer Support
Our Deriv review found that the broker offers 24/7 customer support through Live Chat, WhatsApp, and the Help Center.
Deriv customer support supports eleven languages.
Deriv Education
Our Deriv review team found that traders can access Deriv Academy which covers recent market news, educational videos, and trading articles.
However, Deriv Broker does not provide trading seminars, webinars, insights, and other learning materials and research.
Deriv Review: Deriv Awards
Deriv Trading Broker has received various awards for its dedication to providing quality service to its clients.
The broker has accumulated the following awards during its years of service to traders:
- “Broker of the Year” at the FinanceFeeds Awards in 2023.
- Deriv won the Most Trusted Broker APAC and Best Forex Spreads APAC awards at the UF Awards APAC 2023! Organised by Ultimate Fintech, a leading marketing agency, the awards ceremony hosted many fintech and online trading industry leaders prominent in Asia-Pacific.
Deriv Broker Complaints
Some traders complained about Deriv's slower responses via email. However, my experience has been that I get a response from Deriv support via email in 2 hours or less.
Also out of 40 000 reviews on Trustpilot, Deriv has an average rating of 4.6 out of 5 which is quite impressive.
Advantages Of Using Deriv
- Deriv has a low minimum deposit which makes the broker accessible to all kinds of traders.
- A wide range of trading assets are available for trading helping traders diversify their portfolios
- 24/7/365 trading via synthetic indices
- wide variety of payment methods
- Wide range of well-developed trading platforms
What are the disadvantages of using Deriv?
The broker does not offer any type of bonuses. Also, the educational materials tend to be a bit limited compared to other brokers.
Deriv Broker Review: My Verdict
In conclusion, my experience using Deriv has been that the broker is considered reliable with a wide range of trading instruments and professional trading platforms.
The broker is authorized and regulated by multiple financial regulatory bodies, so provides a high level of security and transparency.
The commission-free trading, and absence of deposit and withdrawal fees make this a cost-effective broker with low trading fees.
The low minimum deposit requirement and demo account option make it accessible for traders of all levels.
Overall, I am satisfied with Deriv’s trading conditions and products. Deriv Broker is a great option for those looking for a reliable and secure broker