Deriv, an online brokerage developed and supported by Binary.com, provides trading opportunities in CFDs, binary options, and forex. The company offers multiple trading options through a web-based platform called DTrader, an MT5 terminal known as DMT5, and an automated trading system named DBot. In our 2023 review, we delve into details regarding investment applications, minimum deposit requirements, available asset lists, leverage, and other pertinent aspects. Discover the insights and evaluations offered by our experts regarding Deriv.com.
Company Details
After two decades of catering to retail clients, Binary.com has rebranded itself as the revamped Deriv. This transformation brings forth an extended array of products, an improved user interface, and a fresh logo.
Under its new identity, this global brokerage has witnessed significant growth. Deriv now boasts a clientele of over 2.5 million traders, accumulating a trading turnover surpassing $10 billion. The platform processes more than 26 million withdrawals and executes over 114 million trades monthly. Additionally, the award-winning firm employs over 1,000 professionals across 18 locations worldwide, including Cyprus and Dubai.
Deriv.com adheres to regulatory standards across multiple trading jurisdictions, holding licenses from authorities such as the Malta Financial Services Authority, Labuan Financial Services Authority, Vanuatu Financial Services Commission, and the British Virgin Islands Financial Services Commission.
Trading Platforms
Deriv.com provides traders with three distinct trading platforms, complemented by live signals for added insights.
DMT5:
This platform seamlessly integrates MT5 with robust analysis and research tools, catering to CFD traders of all expertise levels. Its user-friendly yet feature-rich interface offers customization options, enabling traders to configure charts and trade areas according to their preferences. With over 70 assets available and flexible leverage up to 1:1000, traders can choose from varying trade sizes, ranging from micro-lots to 30 standard lots.
DTrader:
The customizable DTrader platform offers a sleek interface and more than 50 tradable assets. It allows traders to personalize charts using technical indicators and widgets. Offering trade customization options and potential payouts exceeding 100%, the platform supports position sizes as low as $0.35 and provides flexible trade durations ranging from one second to 365 days. Its evolution in trading platforms ensures an exceptional user experience.
DBot:
Deriv.com’s automated trading platform, DBot, stands as a market leader in algorithmic investing. It offers a straightforward setup for creating bots in five steps, applicable to over 50 assets. Traders can utilize three pre-built strategies while having the freedom to develop their bots for free. The platform includes a performance tracker, allowing users to refine strategies for maximizing returns.
Deriv.com’s trading platforms cater to diverse trading preferences and skill levels, providing users with customizable options, automated trading solutions, and user-friendly interfaces.
Assets & Markets
Deriv.com offers a diverse range of over 100 CFDs across various asset classes:
Forex: Access more than 30 FX currency pairs, encompassing major, minor, and exotic pairs.
Stock Indices: Speculate on price movements in prominent US, Asian, and European stock indices.
Synthetic Indices: Experience consistent volatility 24/7 through synthetic indices, which replicate real-world market conditions using a secure random generator.
Commodities: Trade in precious metals like gold and silver, as well as energy commodities such as oil.
Cryptocurrencies: Engage in trading popular cryptocurrencies like Bitcoin (BTC) paired against the US Dollar (USD).
Additionally, Deriv.com provides options and multipliers to diversify trading strategies:
Options: Enable traders to profit from predicting price movements without owning the underlying asset. For instance, the Rise/Fall option pays out if the exit point aligns with the predicted movement relative to the entry point. There are various option types and payout options available.
Multipliers: Allow users to trade on leverage, magnifying positions and potential returns. This trading feature operates similarly to margin trading, where traders can’t lose more than their initial deposit, limiting potential risks. Traders often take multiple positions to amplify potential returns.
Spreads, Commissions, and Leverage
Deriv.com ensures competitive trading conditions with tight spreads starting from 0.5 pips on major forex pairs like the EUR/USD, affirming a commitment to favorable trading conditions. Notably, there are no commission charges, deposit/withdrawal fees, or penalties for account inactivity. This transparent fee structure aligns with the former strong reputation of Binary.com, emphasizing competitive spreads and clear fee policies.
Regarding leverage, Deriv offers flexible leverage up to 1:1000, enabling traders to amplify their positions by leveraging a small deposit (margin) for potentially higher returns. However, it’s essential to note that margin requirements and leverage ratios may differ based on the type of account and the jurisdiction where the account is registered. For instance, in the EU, regulatory restrictions limit retail traders to maximum leverage of 1:30 on major currency pairs, ensuring compliance with local regulations.
Payment Options
Deriv.com impresses with its extensive array of deposit and withdrawal methods, offering users a broad spectrum of options.
Deposits
The platform accommodates various deposit methods:
Bank wire transfer: Minimum deposits start at $5, processed within one working day in most cases.
Credit/debit cards: Visa, Mastercard, and Maestro can be used, requiring a minimum deposit starting at 10 USD/GBP/EUR/AUD. Credit and debit card deposits are instantly processed.
E-wallets: Skrill, Neteller, Paysafecard, WebMoney, and more are available options. Deposits start at 5 of the base currency and are processed instantly.
Deriv.com does not impose fees on deposits, offering flexibility and accessibility.
Withdrawals
Deriv.com allows withdrawals using the same payment options available for deposits.
For bank withdrawals, the minimum starts at 5 of the base currency and is processed within one working day, depending on the provider.
Debit/credit card withdrawals require a minimum of 10 of the base currency and are processed within one working day. Please note that MasterCard and Maestro options are exclusively available to UK traders.
E-wallet withdrawals necessitate a minimum of 5 of the base currency, processed within one to two working days.
Similar to deposits, Deriv.com does not charge traders any fees for withdrawing profits, making it a highly accessible and cost-effective broker for both deposits and withdrawals.
Regulation
Deriv.com, as observed by our seasoned traders, stands out as a reliable brokerage regulated across multiple jurisdictions, ensuring a trustworthy trading environment. Notably, in the EU, Deriv is under the regulatory oversight of the Malta Financial Services Authority (FSA).
For traders beyond the EU borders, the broker holds licenses from the Vanuatu Financial Services Commission (FSC), the British Virgin Islands Financial Services Commission (FSC), and Malaysia’s Labuan Financial Services Authority (FSA). These regulations mandate safeguards for customers, such as negative balance protection, ensuring traders cannot lose more than their initial deposit. Moreover, the separation of the broker’s capital from traders’ funds adds an extra layer of security.
Additionally, Deriv.com upholds financial services compensation schemes, offering potential reimbursement to customers in case of the broker’s insolvency. However, it’s essential to note that coverage amounts under these schemes may vary depending on the specific regulator and jurisdiction.
Account Types
Deriv provides three distinct live account types: Standard, MT5 (DMT5), and Synthetic Indices. These accounts offer varying trading options, encompassing binaries and CFDs via MT5. The availability of account types is contingent upon the trader’s geographical location.
Different account options are accessible based on the trader’s GEO location. For instance, EU traders will encounter different account choices compared to visitors from South Africa or Singapore. This discrepancy arises due to regulatory standards set by the EU (ESMA) and Deriv’s licensing protocols.
Customer Support
Support at Deriv is accessible around the clock through two primary channels:
- Help Centre: This self-service portal addresses a wide array of inquiries, spanning from account-related queries to platform concerns, offering comprehensive assistance.
- Live Chat: Direct live chat support is conveniently accessible on the website, providing real-time assistance to users seeking immediate help.
Conclusion
In general, Deriv is a reputable derivatives broker offering several advantages such as:
- Regulation by credible authorities in multiple legal jurisdictions
- The diverse range of trading products including CFDs, options, and multipliers
- Low spreads and flexible leverage
- User-friendly trading platform
- 24/7 customer support service
However, Deriv also has some drawbacks such as:
- Higher commission fees compared to some other brokers
- Lack of free trading education
- The absence of attractive promotional programs
Overall, Deriv remains a good choice for traders seeking a reliable derivatives broker with a variety of products. Nevertheless, traders should carefully consider the platform’s pros and cons before deciding to register for trading.
FAQs
Can You Still Trade On Binary.com?
During the transition, you can trade on Binary.com. But as Binary.com is slowly phased out, traders may benefit from moving over to Deriv.com sooner rather than later. The development team has made the process as smooth as possible. Binary.com accounts are essentially replicated in Deriv.com. So, enter your Binary.com login details into Deriv and you will see your funds, custom account settings and trading features are all available.
How Do I Open An Account At Deriv?
Registering for an account with Deriv.com is straightforward. Select the red ‘create new account’ box in the top right-hand corner of the broker’s website, then follow the on-screen instructions. New traders will need to submit basic contact details and personal information.
Does Deriv Offer A Demo Account?
Yes – a demo account is available at Deriv.com. The practice account comes with unlimited funds and no expiry time. Credit card information isn’t needed to open a demo account, just an email address. The free demo account is an excellent way to test the platform and strategies before opening a live trading account, including the firm’s multipliers.
What Is A DBot?
A DBot is the short-hand name for a Deriv Bot, the automated trading system offered by Deriv.com. The DBot platform offers pre-built algorithms plus a straightforward guide to building your bot.
How Is My Money Protected At Deriv.com?
Client funds are kept separate from the broker’s capital. So in the event of insolvency, user funds are protected and will be returned.
