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Deriv.com – Broker Review and Trader Feedback 2021

4.5 / 5

Deriv.com, also known as Binary.com, is a broker that offers the trading of binary options. As part of its rebranding process, Binary.com’s switch to Deriv has also meant the addition of forex and commodities trading to its new platform.

General Information

Deriv (the new platform of Binary), full name Deriv Limited, is a broker with headquarters on Channel Islands. Deriv is managed by the Deriv Group which has licensed subsidiaries to manage Deriv trading platforms in their registered jurisdictions. Deriv was established in 2020 after the rebranding of Binary.com as part of activities to mark the 20th anniversary of the parent company.

Deriv is registered in Europe to Binary Investments (Europe) Ltd., with an office in Malta. Deriv is licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority, with the license number IS/70156.

In Asia, Deriv is registered to Binary (FX) Ltd., with an office in the Federal Territory of Labuan, Malaysia. Deriv is licensed and regulated by the Labuan Financial Services Authority, with license number MB/18/0024.

In Vanuatu, Deriv is registered to Binary (V) Ltd. and is licensed and regulated by the Vanuatu Financial Services Commission, with license number 14556.

The company can be contacted via the official website, or the other contacts provided. Deriv website is available in major languages including English, Italian, Spanish, etc. It is stated on the website that some countries are restricted from Deriv’s services.

Advantages and Disadvantages

The advantages and disadvantages of trading with Deriv are stated below.

License and Regulation: Deriv is managed by three subsidiaries of Binary Limited, and is regulated by three different Commissions each in Asia, Europe, and South America. This backing gives investors an assurance on the safety of their funds.

Security: the security protocols of Deriv are of industry-standard. Deriv uses SSL encryption to secure sensitive data. Clients can trade knowing their details are safe and secure.

Instant executions: thanks to improved fiber optics technology, orders placed on Deriv are quickly executed at great speed. Clients can trade with the peace of instant execution without the irritation of slow response.

Excellent customer service: Deriv prioritizes customer support. Clients have 24/7 access to agents via phone lines in multiple languages. Clients can also create tickets that are attended to within a short period.

Trading bots: Deriv offers clients the option of using trading robots to trade binary options.

A growing number of tradable assets: as listed on its website, Deriv offers clients a growing list of over 100 assets they can trade. This list includes forex pairs, metals, gold, oil, commodities, synthetic indices, cryptocurrencies, and CFDs.

Weekend trading: Deriv allows traders to take advantage of the weekend market by trading synthetic indices. Trading is available 24/7.

Tight spread: Deriv offers a minimum spread of 1.0 pip. This tight spread allows traders to place trades with minimum risk involved.

Low minimum deposit and trade amounts: Deriv allows a minimum deposit of $5, and a minimum trade amount of just 35 Cents. Traders can start small, learn, and trade while risking only small amounts they can manage.

Demo account: Deriv offers free demo accounts which clients can take advantage of to study and try out the platform.

No hidden charges: deposits and withdrawals are absolutely free; Deriv charges no fees from clients when they perform either action.

No copy-trading: traders have no access to copy the trades of others on Deriv as of now. There is no provision for social and copy-trading.

No deposit bonus: Deriv neither offers a deposit bonus nor a welcome bonus. However, clients can take advantage of low minimum deposits and competitive fees.

Not available on MT4: traders who use MT4 would have to switch to MT5 in order to use Deriv as it is currently unavailable on MT4.

Trading Conditions

Deriv offers tight spreads and minimal trading fees, flexible leverage up to 1:1000, and allows traders to place orders with a minimum of 35 cents. There is no maximum trade size and clients can earn up to 95%. Deriv offers a range of trade sizes, from micro-lots and up to 30 standard slots. Potential payouts exceed 200%, and the trade duration is flexible; between one second and 12 months are available. A dormancy fee is charged if the trading account is unused for up to 1 year.

Underlying Assets

Deriv offers a wide range of tradable assets. Forex pairs, binary options, stock, cryptocurrencies, commodities, CFDs, indices are some of the major tradable assets listed on their website. It has over 100 instruments. Multiplier trades are also available on Deriv.

Trading Platform

Deriv has three trading platforms: DMT5, DTrader, and DBot.

DMT5 – DMT5 integrates the MT5 trading software with research and analytical tools. In DMT5, multiple windows can run simultaneously and moved around according to the preferences of the trader. A quick check shows that the platform is feature-rich and presents a growing list of over 70 assets that are easy to navigate. Traders have access to advanced features and can set up trade areas and charts as they please. DMT5 has multiple in-built indicators and custom indicators.

DTrader – DTrader is the web-based platform. DTrader offers a neat, navigable interface for over 50 tradable assets. Looking through shows that the platform is fully customizable; charts and trade types can be customized to meet trader needs. The former is customized with widgets and technical indicators, while the latter is customized with flexible trade duration and trade position sizes.

DBot – DBot is Deriv’s robot trading platform. Designed to be flexible with novices and experts, DBot features pre-built bots as well as options to develop custom bots. Traders can easily set the parameters they wish and allow the bot to begin trading based on those instructions. They can also choose to trade with the pre-built strategies. DBot has a performance tracker so traders can tweak the bots as they trade. The tracker sends regular reports on Telegram. DBot is totally free.

Mobile Trading

Deriv currently has no mobile application. This is likely due to the ongoing transition from the Binary Platform. It is expected that once the transition is completed, a mobile trading platform will be made available.

Demo Account

The demo account is free and open to everyone. Demo accounts have the full features of the live account and offer uncapped amounts for practice so that the user can easily test strategies and form trading habits.

Account Types

There are really just two account types: the demo account and the live account. The user can switch to a live account after practicing enough with the demo account. The DMT5 has three different types of live accounts:

The DMT5 Financial STP account – This is a book account that passes trades directly to the Deriv dealing desk, giving traders direct access to in-house trading liquidity.

The DMT5 Financial account – This account allows traders access to high leverage and dynamic spreads for maximum flexibility.

The DMT5 Synthetic account – This account allows traders to trade CFDs (Contract for Difference) on synthetic indices that reflect real price movements.

Opening an Account

The “sign up” button can be found on the top right-hand corner of the website, as well as on the homepage as the user scrolls down. Next to it is a box to input a functional email. The user can also sign up using Facebook or Google. Once authorization is complete, the demo account opens up. Registration is completed with a few clicks.
Traders are required to complete compulsory account verification. For this, they can upload an image file of a government-issued I.D.

Funds Withdrawal

Deriv offers traders a wide range of methods for withdrawals and deposits in fiat currencies and cryptocurrencies.

Deposits

Traders can deposit using any of the following options:

  • Credit/Debit cards: Both MasterCard and Visa cards are accepted. Deposits begin from 10 of the trader’s base currency. Deposits are processed instantly and attract no fee.
  • Cryptocurrency: Traders can deposit funds using Bitcoin, Etherium, Tether, and Litecoin. There are no minimum or maximum deposits, and it takes three Blockchain confirmations to process funds. There are no deposit fees.
  • E-wallets: Neteller, Skrill, Fasapay, PerfectMoney, PaySafe, and WebMoney are some of the accepted e-wallets. Minimum deposits begin from 5 of the base currency and are processed instantly.
  • Bank wire transfer: Traders can instantly deposit as little as $5 using bank wire transfers. There are no charges involved

 

Withdrawals

Withdrawals can be made using all of the deposit options. E-wallet, debit/credit card, and bank wire transfer withdrawals begin from $5 and $20 respectively. Withdrawals are processed within 24 hours. Cryptocurrency withdrawals begin from 0.0026 BTC and are also confirmed in three Blockchain confirmations.

Trader Training

Possibly due to the transition process, Deriv currently offers little in terms of educational resources. All the account types have access to agents, as well as a well-detailed FAQ page.
However, Deriv also holds weekly webinars where experts in different finance fields discuss new and specialized topics and give thorough analysis of the market.

Should I Trade with Deriv?

The answer is yes. Deriv is a new and rebranded version of the Binary Trading platform which has been in existence for 20 years now. Deriv is a regulated broker that follows standard operating procedures and offers a navigable trading platform. The web and the mobile trading platform allows traders to enjoy seamless trading experience. Market analysis, technical support, trading tools, and customizable bots area available. Traders with any level of experience can take advantage of the tight spread and low fees and super-fast platform to explore the market.

Reviews on Deriv

Comments about Deriv
( 6 )
User rating: 4.6 / 5

Comments: 6

  1. avatar
    Benjamin Chinedu
    18/08/2020

    Pls how can I open a real account that has both currency pairs and volatility indexes. Thank you.

    5/5

  2. avatar
    Faye
    29/09/2020

    Hi I can’t upload my documents, what do I do

    2/5

  3. avatar
    Melvin
    06/10/2020

    Good day. I opened Deriv rel account a week ago but I just can’t get to upload my documents. I don’t understand why?

    4/5

  4. avatar
    Misha
    11/10/2020

    Am unable to upload documents can I still make my deposite to trade live?

  5. avatar
    Theo
    19/10/2020

    You don’t upload documents till you reach your withdraw limit.

    5/5

  6. avatar
    Overcomer
    06/03/2021

    Can 200 lot size be used on deriv..?

    5/5

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Deriv.com – Broker Review and Trader Feedback 2021

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