Deriv Review

Deriv is a versatile multi-asset online broker which has been facilitating trades since its inception in 1999. Over the years, it has evolved to cater to the diverse needs of traders globally. In this comprehensive review, we will get into Deriv’s offerings along with its pros and cons and company details.

Deriv stands as a reputable online broker with a robust platform infrastructure, diverse product offerings, and a commitment to regulatory compliance. Whether you’re a novice trader looking to start with a minimal deposit or an experienced professional seeking high leverage opportunities, Deriv caters to a broad spectrum of traders’ needs, making it a compelling choice in the competitive brokerage landscape of 2024.

Company Details

After two decades of serving retail clients, Binary.com underwent a rebranding to Deriv. This transformation aimed to offer an expanded product range and enhance the overall user experience. With over one million customers migrating to Deriv the platform has witnessed significant growth and now boasts 2.5+ million traders and a trading turnover exceeding $10 billion. Operating under multiple regulatory entities, including the Malta Financial Services Authority, Labuan Financial Services Authority, Vanuatu Financial Services Commission and British Virgin Islands Financial Services Commission, Deriv ensures a secure trading environment for its clients.

Regulations

Deriv operates under multiple regulatory entities ensuring compliance with regulatory standards across different jurisdictions. The company holds licenses with:

• Malta Financial Services Authority (MFSA)
• Labuan Financial Services Authority (LFSA)
• Vanuatu Financial Services Commission (VFSC)
• British Virgin Islands Financial Services Commission (BVI FSC)

These regulatory bodies oversee Deriv’s operations providing a layer of security and protection for traders’ funds.

Pros and Cons

Deriv Key Takeaways for 2024

1. Global Operations: Deriv’s presence spans across five entities worldwide reflecting its international footprint and commitment to serving traders globally.
2. Platform Diversity: With access to MetaTrader 5, cTrader, and a range of proprietary platforms such as Deriv X, Dtrader, Dbot, SmartTrader and DerivGO, Deriv offers traders a variety of options tailored to their preferences.
3. Range of Cryptos: Deriv stands out with its offering of 43 cryptocurrency CFDs surpassing the industry average and providing traders with ample choices in the burgeoning crypto market.
4. Flexible Transactions: The broker facilitates transactions through a multitude of deposit and withdrawal options available in various currencies ensuring convenience and accessibility for traders.
5. Variable Fees: While Deriv boasts low spreads for certain instruments like EUR/USD, GBP/JPY and Gold, it imposes high spreads for others such as WTI oil and Tesla. Additionally, an inactivity fee is applicable.
6. Limited Support: Despite offering fast and reliable 24/7 support Deriv falls short in providing phone support and may experience occasional lapses in addressing customer queries promptly.

What Sets Deriv Apart?

Deriv distinguishes itself through its diverse range of 8 trading platforms catering to a spectrum of trading preferences. These platforms are equipped with advanced charting tools and customizable layouts appealing to both novice and experienced traders alike. With seamless access to various financial markets, including forex, stocks, indices, ETFs, cryptocurrencies, and commodities, Deriv empowers traders to execute their strategies with precision and efficiency.

Who is Deriv For?

Deriv caters to a broad audience, offering trading options such as CFDs and options that appeal to skilled traders seeking diversification. The platform’s high leverage, reaching up to 1:1000, presents an opportunity for professional traders to maximize their trading potential. Furthermore, Deriv’s low minimum initial deposit of $5 makes it accessible to beginners, who can leverage the broker’s educational resources, including a blog featuring easy-to-understand articles and trading tips.

Deriv Account Types

Derive has three account types to choose from: the standard account, the financial STP account, the synthetic account, and two other accounts: the demo account and the Islamic account. There is an option to open a Deriv demo account where users can register following instructions.

1. Standard Account:

This account is designed to cater to both new and experienced traders, offering a versatile range of tradeable assets. Traders can access commodities, cryptocurrencies, major, and minor currency pairs with leverage of up to 1:1000, providing ample opportunities for profit generation. With its broad asset coverage and high leverage, the Standard Account appeals to traders seeking diversity and flexibility in their trading strategies.

2. Financial STP Account:

The Financial STP (Straight Through Processing) Account is tailored for traders focusing primarily on forex trading. It allows for the trading of major, minor, and exotic currency pairs with tight spreads and higher trade volumes. Unlike traditional market maker accounts, the Financial STP Account offers direct access to forex liquidity providers, ensuring transparency and competitive pricing. Traders benefit from enhanced execution speed and efficiency, making it an attractive option for those seeking optimal trading conditions in the forex market.

3. Synthetic Account

The Synthetic Account introduces traders to the world of synthetic indices, offering a unique trading experience. Synthetic indices are algorithmically generated and mimic real-world market conditions, providing traders with round-the-clock access to consistent volatility. Audited for fairness by an independent third party, the Synthetic Account ensures a level playing field for traders, enhancing trust and credibility. With leverage of up to 1:1000, traders can capitalize on the dynamic nature of synthetic indices, making informed trading decisions based on robust market simulations.

Other available accounts are

Demo Account

The Deriv Demo Account serves as a valuable tool for traders looking to practice and refine their trading skills in a risk-free environment. It mirrors the features and functionalities of live trading accounts, allowing traders to familiarize themselves with the platform and test different strategies without exposing real capital. With unlimited virtual funds at their disposal, traders can experiment with various assets and trading techniques, gaining valuable insights and confidence before transitioning to live trading.

Islamic Account

The Deriv Islamic Account caters specifically to Muslim traders adhering to Sharia law, which prohibits the payment or receipt of interest (Riba). As such, the Islamic Account exempts traders from overnight fees, aligning with Islamic principles of fairness and ethical trading. While traditional accounts may incur overnight fees for holding positions beyond a certain period, the Islamic Account offers a Sharia-compliant alternative, ensuring that traders can participate in the financial markets while adhering to their religious beliefs.

Conclusion

Deriv is a trusted forex trading company. It follows strict regulations and maintains high standards. They offer low trading fees and excellent services to help investors achieve their goals. Deriv supports traders of all experience levels and provides multiple platforms to suit different trading strategies and goals. In addition, this well-known company operates in various regions under strict regulations.

FAQs

Can traders from South Africa open a Deriv trading account?

Yes, Deriv is a well-regulated broker open to traders globally.

How many instruments can I trade with Deriv?

Traders can access a variety of instruments, including close to 50 FX currency pairs, stock indices, synthetic indices, and commodities.

Does Deriv offer leverage?

Yes, Deriv offers leverage of up to 1:1000, providing traders with the potential to amplify their trading positions.

Does Deriv have accounts in ZAR (South African Rand)?

No, Deriv does not offer accounts in ZAR, but traders can pay in ZAR currency with conversion fees applicable.

Are there any mobile apps available for Deriv trading accounts?

Yes, Deriv offers trading platforms with mobile apps compatible with IOS and Android devices.

What types of accounts does Deriv offer?

Deriv offers various account types tailored to different trading platforms, including Standard, Financial STP, Synthetic, Demo, and Islamic accounts.

Does Deriv offer copy trading tools?

While Deriv offers limited copy trading tools, it may not be as comprehensive as alternatives like IQ Cent.

What are the deposit and withdrawal methods available on Deriv?

Deriv provides a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits.

Is Deriv regulated?

Yes, Deriv operates under regulatory oversight from entities such as MFSA, LFSA, VFSC, and BVI FSC, ensuring compliance with industry standards.

Can I practice trading without risking real money on Deriv?

Yes, Deriv offers a free demo account with virtual funds, allowing traders to practice trading strategies without risking real capital.

Also read:

• Deriv Sign Up Bonus
• Deriv Minimum Deposit
• Deriv Fees, Spreads and Commission

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