Deriv Broker, previously known as Binary.com, is a Cyprus-based online trading platform operated by the Regent Markets Group. It offers access to a variety of markets, such as Forex, stocks, cryptocurrency, indices, commodities, and more. In this review, we will look into the key features, advantages, account types, trading platforms, and customer feedback of Deriv Broker to find out whether it is a legit broker or a scam.
Deriv Broker Overview
Deriv Broker is an online trading platform that provides access to a variety of markets. It is operated by the Regent Markets Group, which is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker has been active since 2014 and is available in more than 150 countries. It offers access to Forex, stocks, cryptocurrency, indices, commodities, and more.
Deriv (ex-Binary.com) Frequently Asked Questions (FAQ)
Yes, Deriv (formerly known as Binary.com) is a legitimate broker. It has been in operation since 2000 and is regulated by several reputable financial authorities, including the Malta Financial Services Authority (MFSA) and the Vanuatu Financial Services Commission (VFSC).
Deriv takes measures to ensure the safety of client funds by segregating them from the company’s operational funds and using advanced security protocols to protect personal and financial information.
Yes, trading on Deriv or any other financial platform involves risks. The potential for profit is accompanied by the risk of losses. It’s crucial to have a solid understanding of trading and risk management strategies before participating.
Deriv provides a variety of educational resources, including trading tutorials, webinars, articles, and guides to help traders enhance their skills and knowledge.
Yes, Deriv offers a demo account feature that allows you to practice trading using virtual funds. This is a great way to get familiar with the platform and test your trading strategies.
The withdrawal process with Deriv is typically straightforward. You can request a withdrawal through your account dashboard, and funds are usually processed using the same method you used to deposit. Verification procedures may apply for security reasons.
Deriv typically does not charge commissions on trades. Instead, they may make money through spreads, which are the differences between the buy and sell prices of assets. It’s important to review their fee structure for any other potential charges.
Deriv is designed to be user-friendly and offers educational resources, making it suitable for beginners. However, new traders should invest time in learning about trading concepts and strategies.
Yes, Deriv offers a mobile app that allows you to trade on the go using your smartphone or tablet. The mobile app provides access to trading, account management, and analysis tools.
Deriv offers customer support through various channels, including email, live chat, and phone. You can find contact details on their official website. Don’t hesitate to reach out to their support team if you have questions or concerns.
Yes, besides binary options, Deriv offers trading options for other financial instruments, including forex, cryptocurrencies, commodities, and indices. This allows traders to diversify their portfolios and explore different markets.
No, trading binary options, or any financial instrument, does not guarantee profits. Success in trading depends on various factors, including market conditions, trading strategies, risk management, and your understanding of the market. Approach trading with realistic expectations and proper risk management.
Key Features of Deriv
Deriv Broker offers several key features and advantages for its customers. These include a user-friendly trading platform, a wide range of assets, low fees, and quick withdrawals. Additionally, the broker offers competitive spreads, a leverage of up to 1000x on some assets, and the ability to trade on both desktop and mobile devices.
Deriv Key Features
Deriv broker is a popular online trading platform that offers a wide range of financial instruments for traders worldwide. The platform is known for its user-friendly interface, advanced trading tools, and comprehensive educational resources. Here are some key features of the Deriv broker:
- Multiple Trading Options: Deriv offers a diverse range of trading options including forex, commodities, cryptocurrencies, synthetic indices, and more. Traders can choose from over 100 tradable assets and explore different markets simultaneously.
- SmartTrader: The SmartTrader platform is the flagship product of Deriv broker. It provides a customizable and intuitive trading experience, with various charting tools, technical indicators, and analysis features. Traders can execute trades directly from the charts and benefit from real-time market data.
- DMT5: Deriv MetaTrader 5 (DMT5) is another trading platform offered by the broker. It is a powerful and professional platform widely used by traders globally. DMT5 provides advanced trading capabilities, algorithmic trading options, and access to a vast library of trading robots and indicators.
- Binary.com: Deriv is backed by Binary.com, a reputable binary options broker that has been in the industry for over 20 years. This partnership ensures a secure and reliable trading environment for Deriv users.
- Risk Management Tools: Deriv understands the importance of risk management in trading. The platform offers features like stop-loss orders, take-profit orders, and negative balance protection to help traders manage their risk effectively.
- Education and Support: Deriv provides comprehensive educational resources for both beginners and experienced traders. The platform offers tutorials, videos, webinars, and articles on various trading topics. Additionally, traders can access a supportive community and seek assistance from the customer support team through live chat, email, or phone.
- Competitive Trading Conditions: Deriv aims to provide its clients with competitive trading conditions, including tight spreads, low minimum deposit requirements, and leverage options.
- Regulated and Secure: Deriv operates under multiple regulatory licenses, including the Malta Financial Services Authority (MFSA) and the Vanuatu Financial Services Commission (VFSC). This ensures that the broker adheres to strict regulatory standards and provides a secure trading environment for its users.
Deriv broker offers a wide range of financial instruments, powerful trading platforms, risk management tools, educational resources, and a secure trading environment. These key features make Deriv a popular choice for traders looking to engage in various markets and enhance their trading skills.
How to Register On Deriv.com
To register on deriv.com follow these steps:
- Visit the deriv.com website on your browser.
- Click on the “Sign up” button located at the top right corner of the page.
- You will be directed to the registration page. Here, you will have two options to choose from: “Real account” or “Demo account.” A real account allows you to trade with real money, while a demo account provides virtual funds for practice purposes.
- Select the account type you prefer and click on the “Create free account” button.
- Fill in the registration form with the required information, including your name, email address, password, and phone number.
- Accept the terms and conditions by checking the box.
- Click on the “Create free account” button to proceed.
- You will receive an email to verify your email address. Open the email and click on the verification link provided.
- Once your email is verified, you can log in to your account using the email address and password provided during registration.
- After logging in, you may be required to complete additional steps to verify your identity and address, depending on the regulations in your country. Complete the necessary verification steps, which may involve providing identification documents such as a passport or driver’s license, as well as proof of address documents such as utility bills or bank statements.
- Once your account is fully verified, you can deposit funds into your account and start trading on deriv.com. Please note that the registration process may vary slightly depending on your country of residence and the regulations in place. It’s important to verify the specific requirements for your jurisdiction.
Account Types & Costs
Deriv Broker offers three types of accounts: Standard, Standard Plus, and Professional. The minimum deposit for opening an account is $250. The broker offers competitive spreads, with no commissions on most assets. Additionally, there are no hidden fees and the broker does not charge account maintenance fees.
Types & Costs of Deriv Accounts
Deriv offers various account types to cater to the diverse needs of traders. Let’s take a closer look at these account types and the associated costs:
- Is free of charge and provides traders with $10,000 in virtual funds.
- Allows users to practice and familiarize themselves with the trading platform without risking real money.
- No deposit is required to open a virtual account.
- Designed for traders who want to trade with real money.
- It requires a minimum deposit of $5.
- Traders can choose from different currency options (USD, EUR, GBP, AUD, and more) when opening a real account.
- There are no withdrawal or deposit fees for Real Accounts.
- Suitable for traders who want access to a wider range of financial instruments, such as Forex, commodities, and cryptocurrencies.
- Requires a minimum deposit of $5.
- Traders can choose from different currency options (USD, EUR, GBP, AUD, and more) when opening a Financial Account.
- There are no withdrawal or deposit fees for Financial Accounts.
- Is specifically for clients outside the European Union.
- Requires a minimum deposit of $5.
- Traders can choose from different currency options (USD, EUR, GBP, AUD, and more) when opening a Gaming Account.
- There are no withdrawal or deposit fees for Gaming Accounts.
- Deriv also offers a Professional Account for eligible traders who meet certain criteria, as per the regulations of their respective jurisdictions.
- The Professional Account provides additional benefits and features, such as higher leverage options, allowing for potentially larger trades.
- The costs and requirements for a Professional Account may vary according to the jurisdiction and regulations under which the trader operates.
It’s important to note that while there are no withdrawal or deposit fees for the mentioned account types, traders may incur fees related to payment processors or banks during the funding or withdrawal process. Additionally, account types and associated costs are subject to change, so it’s recommended to refer to Deriv’s official website or contact their customer support for the most up-to-date information.
CFDs & Assets Offered
Deriv Broker offers access to a variety of markets, such as Forex, stocks, cryptocurrency, indices, commodities, and more. The broker offers over 300 assets to trade, including major currency pairs, popular stocks, cryptocurrencies, and commodities.
Deriv offers CFDs (Contracts for Difference) and various assets for trading. A CFD is a financial derivative that allows traders to speculate on the price movement of an underlying asset without owning the actual asset. It is a contract between the trader and the broker, where they agree to exchange the difference in the price of the asset from the time the contract is opened to the time it is closed.
Deriv CFDs & Assets
Deriv offers a wide range of assets for trading through CFDs, including but not limited to:
- Stocks: Traders can speculate on the price movement of individual stocks listed on various stock exchanges worldwide. This allows traders to potentially profit from both rising and falling stock prices.
- Indices: Deriv offers CFDs on major stock indices such as the S&P 500, FTSE 100, and DAX 30. Traders can take positions on the overall performance of these indices, allowing them to diversify their investment portfolios.
- Commodities: CFDs on commodities like gold, silver, oil, natural gas, and agricultural products are also available for trading. Traders can take advantage of price fluctuations in these assets, potentially profiting from market volatility.
- Forex: Deriv offers CFDs on various currency pairs, allowing traders to speculate on the exchange rate movements between different currencies. This market is highly liquid and offers numerous trading opportunities throughout the day.
- Cryptocurrencies: Deriv also provides CFDs on popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. Traders can take advantage of the volatility in the cryptocurrency market without actually owning the digital assets. Overall, Deriv offers a diverse range of assets for trading through CFDs, providing traders with the opportunity to profit from various financial markets.
Deriv Trading Platform
Deriv Broker offers the MetaTrader 5 trading platform, which is a powerful and user-friendly platform with advanced charting and analysis tools. The platform is available on desktop and mobile devices, and can be used to trade on the go.
Key Features of Deriv Trading Platform
Deriv is a trading platform that offers a range of features designed to enhance the trading experience for its users. Here are some key features of the Deriv trading platform.
- Multiple trading options: Deriv provides users with a wide range of trading options, including trading in forex, commodities, cryptocurrency, and synthetic indices. This allows users to diversify their trading portfolios and take advantage of various market opportunities.
- User-friendly interface: The Deriv trading platform is known for its user-friendly interface, making it easy for both beginners and experienced traders to navigate and execute trades. The platform is designed to provide a smooth trading experience with simple and intuitive controls.
- Advanced charting tools: Deriv offers advanced charting tools that help traders analyze market trends and make informed trading decisions. The platform provides various technical indicators, drawing tools, and customizable settings to help traders visualize and interpret market data effectively.
- Risk management tools: Deriv provides a range of risk management tools to help traders protect their investments. These tools include features such as stop loss and take profit orders, which allow traders to set predetermined exit points for their trades.
- Trade durations: Deriv offers various trade durations, including short-term trades of 5 seconds to long-term trades of up to 365 days. This flexibility allows traders to choose the trade duration that best suits their trading strategies and goals.
- Mobile trading: Deriv has a mobile trading app that allows traders to access the platform and trade on the go. The app is compatible with both iOS and Android devices, offering the convenience of trading from anywhere at any time.
- Educational resources: Deriv provides a wealth of educational resources to help traders improve their trading skills and knowledge. These resources include video tutorials, webinars, and articles covering various trading topics.
- Language support: Deriv supports multiple languages, making it accessible to traders from different regions around the world. This ensures that traders can navigate the platform and access support in their preferred language.
Overall, the Deriv trading platform offers a comprehensive set of features that cater to the needs of traders at all levels. With its user-friendly interface, advanced charting tools, and risk management features, Deriv provides traders with the tools they need to make informed trading decisions and maximize their trading potential.
Education & Resources
Deriv Broker offers comprehensive educational resources and tools to help traders of all levels. These resources include video tutorials, eBooks, and webinars. Additionally, the broker provides market analysis and news updates.
Educational Resources Provided by Deriv
- Trading tutorials: Deriv broker provides comprehensive trading tutorials that cover various trading topics such as technical analysis, fundamental analysis, risk management, and trading psychology. These tutorials are designed to give traders a solid foundation in trading.
- Webinars: Deriv broker regularly hosts webinars conducted by experienced traders and industry experts. These webinars cover a wide range of trading topics and provide traders with valuable insights and strategies.
- Video tutorials: Deriv broker has a library of video tutorials that cover different aspects of trading. These tutorials are designed to be easy to understand and provide step-by-step guidance on various trading concepts and strategies.
- E-books: Deriv broker offers e-books that cover a variety of trading topics. These e-books are written by industry experts and provide in-depth knowledge on specific trading strategies and techniques.
- Trading signals: Deriv broker provides trading signals that help traders identify potential trading opportunities. These signals are generated by advanced algorithms and are based on technical analysis.
- Economic calendar: Deriv broker provides an economic calendar that highlights important economic events and their potential impact on the markets. Traders can use this calendar to stay informed about upcoming news releases and make informed trading decisions.
- Market analysis: Deriv broker provides regular market analysis reports that cover various financial markets such as forex, commodities, and indices. These reports provide traders with insights into market trends, potential trading opportunities, and risk factors to consider.
- Trading glossary: Deriv broker has a comprehensive trading glossary that explains various trading terms and concepts. This glossary is a useful resource for beginners who are new to trading.
Overall, Deriv broker’s educational resources aim to empower traders with the knowledge and skills needed to become successful traders.
Deriv Broker provides customer support 24/5 via email and live chat. The customer support team is friendly and knowledgeable.
The fees charged by Deriv, a popular online trading platform, may vary depending on the type of account and the financial instruments being traded.
Common Fees On Deriv
- Account opening fee: There is no charge for opening a Deriv trading account.
- Trading fees: Deriv charges low commission fees on each trade executed on its platform. The fees may vary based on the type of trade and the financial instrument being traded.
- Deposit and withdrawal fees: Deriv does not charge any deposit or withdrawal fees for most of the payment methods. However, some third-party payment processors may charge their own fees.
- Inactivity fee: If a Deriv account remains inactive for a certain period of time, an inactivity fee may be charged. The fee varies based on the account type and the time period of inactivity.
- Overnight funding fees: For positions held overnight, Deriv may charge a financing fee. This fee is calculated based on the size of the position and the prevailing interest rates.
It is important to note that the fees charged by Deriv are subject to change, and traders should refer to the official Deriv website or contact customer support for the most up-to-date information on fees.
- Wide range of trading instruments: Deriv offers a diverse range of trading instruments including forex, commodities, indices, and cryptocurrencies. This allows traders to access multiple markets and take advantage of various trading opportunities.
- User-friendly interface: Deriv’s trading platform is designed to be user-friendly and intuitive, making it easy for both beginner and experienced traders to navigate and execute trades. The platform provides a seamless trading experience with advanced charting tools and indicators.
- Multiple trading options: Deriv offers various trading options such as binary options, forex, CFDs, and digital options. This allows traders to choose the trading style that suits their preferences and trading goals.
- Risk management tools: The platform provides risk management tools such as stop-loss and take-profit orders, allowing traders to limit potential losses and secure profits. This helps in managing and controlling risks effectively.
- Demo account: Deriv offers a demo account that allows traders to practice their trading strategies and familiarize themselves with the platform before trading with real money. This is particularly beneficial for novice traders who can gain experience without risking their capital.
- Educational resources: Deriv provides a wealth of educational resources such as video tutorials, webinars, and educational articles. These resources help traders enhance their knowledge, improve trading skills, and stay updated with market trends.
- Competitive spreads and fees: Deriv offers competitive spreads and low fees, ensuring cost-effective trading for its users. This allows traders to maximize their profits by minimizing transaction costs.
- Regulated and secure: Deriv is regulated by reputable financial authorities, ensuring a safe and secure trading environment. The platform also employs advanced security measures to protect traders’ personal and financial information.
- Mobile trading: Deriv offers a mobile trading app that allows traders to access the platform on their smartphones or tablets. This provides traders with the flexibility to trade on-the-go and stay connected to the markets at all times.
- Multilingual support: Deriv provides customer support in multiple languages, making it accessible to a wide range of traders worldwide. Traders can reach out to the support team via live chat, email, or phone for assistance with any trading-related queries or issues.
Disadvantages of Deriv
- Limited product offerings: Deriv primarily focuses on binary options trading, which means that traders have limited options when it comes to trading other financial instruments such as stocks, commodities, and currencies.
- Complexity: Deriv’s trading platform can be quite complex and overwhelming for beginners. It requires a certain level of knowledge and experience to navigate and understand the various features and tools available.
- Limited regulation: Deriv is registered and regulated in certain jurisdictions, but it may not have the same level of oversight and regulation as traditional financial institutions. This lack of regulation can increase the risk of fraud and malpractice.
- High-risk investment: Trading binary options involves a high level of risk. It is a speculative investment where traders either earn a fixed amount or lose their entire investment. This high-risk nature of binary options trading makes it unsuitable for conservative investors.
- Lack of educational resources: Deriv’s trading platform may not provide comprehensive educational resources for traders to enhance their skills and knowledge. This can make it difficult for beginners to fully understand and effectively utilize the platform.
- Limited customer support: Some users have reported difficulties in accessing prompt and efficient customer support from Deriv. This lack of reliable support can be frustrating and lead to delays in resolving issues or queries.
- Potential for price manipulation: Like any trading platform, there is a possibility of price manipulation by unscrupulous traders. This can negatively impact the fairness and integrity of the platform, potentially leading to losses for traders.
- Dependence on technology: Deriv is an online trading platform, which means that traders heavily rely on technology and internet connectivity. Any technical issues or internet outages can disrupt trading activities and potentially lead to financial losses.
- Lack of transparency: Some users have criticized Deriv for its lack of transparency in terms of fees, charges, and trade execution. This can make it difficult for traders to accurately assess the costs and potential risks involved in using the platform.
- Limited accessibility: Deriv may not be accessible to traders from all countries or regions. Its availability and regulatory compliance can vary, leading to restricted access for certain individuals.
Deriv Regulation & Licensing
Deriv Broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). The company is compliant with the MiFID II regulations, which require brokers to adhere to stringent standards. Additionally, the broker is a member of the Investor Compensation Fund, which provides protection to clients’ funds in the event of insolvency.
Countries Where Deriv is Prohibited or Limited
Deriv (formerly known as Binary.com) is a global online trading platform and broker that provides services to clients in many countries. However, there are certain countries where Deriv may have restrictions or limitations due to regulatory requirements.
Countries Where Deriv Is Prohibited Or Limited
- United States
- Hong Kong
- Puerto Rico
- United Arab Emirates
It’s important to note that the list of restricted countries may vary and is subject to change. It is recommended to visit Deriv’s official website or reach out to their customer support for the most up-to-date and accurate information regarding the availability of their services in specific countries.
Overall, Deriv Broker has received positive customer feedback. Most reviews praise the broker’s competitive spreads, low fees, and user-friendly trading platform. However, some customers have complained about slow customer support and a lack of educational resources.
Deriv Broker is a legit broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers competitive spreads, low fees, and quick withdrawals. Additionally, the user-friendly trading platform and comprehensive educational resources make it a great choice for all levels of traders.
Alternatives to Deriv
If you are looking for an alternative to Deriv Broker, some brokers you may want to consider are eToro, Plus500, and XTB. These brokers offer competitive spreads, low fees, and user-friendly trading platforms. Additionally, they are all regulated by reputable bodies, such as the Financial Conduct Authority (FCA) in the UK.
In conclusion, Deriv Broker is a legit broker that offers competitive spreads, low fees, and user-friendly trading platforms. Furthermore, the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), provides comprehensive educational resources, and has received mostly positive customer reviews. If you are looking for an alternative to Deriv Broker, eToro, Plus500, and XTB are some good options.