Deriv Broker Review 2021: Is Deriv A Trustworthy Broker Or Is It A Scam?

Deriv.com is a new trading platform that has roots going back 20 years to as far back as 1999. This new platform is an exciting and refreshing improvement from its predecessor Binary.com. According to the broker, Deriv is created to be a place where people can trade what they want, how they want.

This Deriv broker review will help you understand the history of the broker, trading instruments offered and how you can get started with the broker.

This a comprehensive guide. You can use the links below to jump to your preferred section

What Is The Difference Between Deriv.com & Binary.com? 

Deriv.com is a result of the rebranding of Binary.com. The broker felt that the name binary.com gave clients the idea that only binary options are offered. This would have been misleading because the broker offers so much more including forex, commodities and synthentic indices. 

Deriv.com from Binary.com

 

On top of the rebranding, Deriv.com has new features include a user-friendly interface that offers Binary.com’s platforms and other new trading instruments like multipliers.

For now, Deriv.com and Binary.com will co-exist side by side but the binary.com platform will eventually be phased out. Binary.com clients can use their existing login credentials on Deriv.com.

Can You Still Trade On Binary.com?

Yes, you can but the platform will eventually be phased out so you may want to familiarise yourself with the Deriv interface as soon as possible.

How Do You Open a Real Trading Account On Deriv.com Step By Step

To register a real trading account on Deriv click the button below.

Open A Free Deriv.com Account Here

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This is the same account used for trading binaries so do not worry if you see written material on binary trading. You will see a box like this:

Enter your email and click where it says  ‘Create Demo Account’

Confirm your email by opening it and clicking the link sent by Deriv. If you don’t find the email check your Junk/Spam folder. The email looks like the one below.

Confirmation email from deriv.com when opening a trading account

Complete the signing up by entering your preferred password and country of residence. 

2. Open A Real Trading Account On Deriv.com

By default, you will first create a demo account with virtual funds of $10 000 when you sign up. This demo account is meant to help you get used to the platform and try out strategies etc.

To trade real money you will need to open a ‘real’ account.

To open the real account you will need to log in to the demo account you created in the step above. After logging in you will see the screen below:

Begin by clicking on the dropdown menu beside the $10 000 virtual money balance.

 

Opening a real account on Deriv.com

 

The first option under the Real tab will be the option to add a real Deriv account. Click on the add button. The following screen will appear:

 

Select Currency when opening a real account on deriv.com

You will need to choose your preferred account currency. This is the currency that you will use to trade, deposit and withdraw. Make sure you choose the best currency as you will not be able to change this after you have made a deposit.

You can also create another account with another currency by clicking on the button that says ‘Add or manage account’.

On the next few pages add your correct details including name, address and phone number. You will need to use details that you can later verify. This is because as part of its Know Your Customer (KYC) policy, Deriv will ask you to upload your proof of residence and ID or passport.

These documents ought to have the same details you will supply during the registration. If you do not have these documents you can still trade with an unverified account. The limitation is that you will not be able to deposit and withdraw on your own. To do that you will need to make use of payment agents explained below.

The real account you would have created will allow you to trade the various assets provided by the broker. You can open the see the different account types and what they allow you to trade below.

Which Account Types Are Available On Deriv.com?

Deriv offers three different account types that give you access to different trading instruments.

 • The Synthetic account allows trading on synthetic indices, which are indices designed to mimic the movement of real-world assets but are unaffected by real-world events such as speeches of heads of central banks, economic releases, and others. Leverage for this account goes up to 1:1000.

With this account, you can trade 24/7/365 making it very convenient. This is one of the most popular account types on Deriv since no other broker offers synthetics.

You can read this in-depth guide on how to trade synthetic indices here.

The Financial account allows CFD trading on major and minor pairs, commodities and cryptocurrencies, with leverage of up to 1:1000

The Financial STP (Straight-Trough Processing) account allows Contract For Difference (CFD) trading on FX majors, minors, and exotics, with leverage up to 1:100, so it’s much lower than the other 2 accounts but it’s still very acceptable. 

Is Deriv A Regulated Broker?

Yes, the broker is regulated in all the jurisdictions where it has offices. Broker regulation is important because it shows that the broker adheres to strict operational guidelines that ensure that it does not scam its clients.

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.

Regulation helps to determine if a broker like Deriv is legit or if it is a scam. In this case, the broker is registered in three different countries and this helps make Deriv a trusted broker.

Is Deriv.com regulated?
The various authorities that regulate the operation of Deriv.com

Which Assets Can You Trade On Deriv.com?

Deriv.com 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. You can read an in-depth guide on synthetic indices here.
  • Commodities – Precious metals, such as gold and silver, plus energies like oil are available

Which Trading Platforms Are Available On Deriv.com?

Three trading platform are available on Deriv.com. These are DMT5, DTrader & DBot. 

Deriv MetaTrader 5 (DMT5)

dmt5 on Deriv.com

DMT5 is Deriv’s exclusive version of the MT5 platform developed by MetaQuotes Software. The all-in-one FX and CFD trading platform gives you access to multiple asset classes — forex, stocks, and commodities — on a single platform.

All in all the platform has 100+ tradeable assets and currently has over 330k + clients enjoying 24/7 trading.

Deriv brings the MT5 experience to a superior level for both new and experienced traders on the platform, with exclusive access to innovative trade types.

DMT5 supports all the three account types offered by the broker. 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.

DTrader on Deriv.com

Deriv.com's DTrader
Deriv.com’s DTrader

DTrader is Deriv’s customisable web-based trading platform with a clean interface and 50+ tradable assets. You can also tailor your charts to meet your needs with technical indicators and widgets you need to make smarter trading decisions.

Trade types can also be highly customised, with minimum position size of just $0.35 and flexible trade duration between one second and 365 days available.

The potential payouts on the DTrader impressivley exceed 200%.

All in all, the DTrader platform is an excellent evolution in trading platforms, promising an optimal user experience.

DBot 

Deriv.com's DBot Platform
Deriv.com’s DBot Platform

 

DBot is Deriv’s free robot trading platform that gives you a straightforward path to getting set-up using algorithmic investing.

DBot is designed to be flexible with novices and experts, and it features pre-built bots as well as options to develop custom bots

Trading bots are free to develop, can be built in five steps, and can be used on over 50 assets. There are also three pre-built strategies that traders can use as they find their feet.

A useful additional feature is the performance tracker so you can make tweaks to maximise returns. The tracker sends regular reports on Telegram.

How Do I Trade Binary Options On Deriv.com?

After looking at the different account options above you may be asking,

“Which account type do I need to trade binary options on Deriv.com?”

You do not need any special account to trade binaries on Deriv.com. The main ‘account’ that you set up during the registration process before setting up the different accounts above lets you trade binary options.

Deriv offers Binary options like Rise/Fall, Higher/Lower, Even/Odd and Touch/No touch.

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How High Are The Spreads & Commissions Charged By Deriv.com?

As a trader, it is very important to know of the spreads and commissions charged by a broker since these represent the trading costs that you must endure. Deriv promises tight spreads and minimal trading fees just like its predecessor Binary.com which had a strong reputation for competitive spreads and a transparent fee structure.

What Is the Deriv Broker Minimum Deposit?

The minimum deposit on Deriv.com varies from $5- $10 depending on the deposit method you use. For example, if you use e-wallets like Skrill, Neteller and AirTm, your minimum deposit will be $5.

If you are using other methods like credit cards then the minimum deposit will be $10.

Open An Account On deriv.com

What Are The Deposit Payment Options on Deriv.com?

Deriv really makes it easy and convenient for you to deposit to your trading account through a number of options including:

  • E-wallets – Skrill, Neteller, AirTm, PerfectMoney, Jeton Wallet, Fasapay, and WebMoney are all available, amongst others. Deposits are processed instantly and they start at 5 of your base currency. You can exchange between currencies at BestExchange
  • Credit/debit cards – Deriv accepts and processes instantly deposits made via both Visa and Mastercard. The minimum deposit starts at 10 USD/GBP/EUR/AUD. 
  • Bank wire transfer – Minimum deposits start at $5 with most deposits processed instantly.
  • Cryptocurrency – If you prefer cryptocurrency then you can use Bitcoin, Ethereum, Litecoin and Tether to deposit into your account. There is no minimum deposit when using cryptocurrencies, with payments processed in three blockchain confirmations.
  • Payment Agents – These are explained in-depth below. 
  • Deriv Peer to Peer (Dp2p)- This is explained below

Deriv.com does not charge fees for making deposits.

 

Some Of The Deposit Payment Options on Deriv.com

Skrill WalletAirTm Wallet
Neteller WalletAirTm Wallet

What Are The Withdrawal Options on Deriv.com?

In line with making its services customer-friendly, Deriv allows you to withdraw funds from your Deriv.com account using all of the deposit payment options. 

What Is The Minimum Withdrawal Amount on Deriv.com?

  •  E-wallets – minimum withdrawal is 5 of your base currency which will be processed within one working day.
  •  Credit/Debit Cards – minimum withdrawal is 10 of your base currency which will be processed within one working day. Note, MasterCard and Maestro are only available to UK traders.
  • Cryptocurrencies – Bitcoin offers the lowest minimum withdrawal of 0.0026 while crypto withdrawal times are one working day plus three blockchain confirmations.
  • Payment Agents – These are explained in-depth below.
  • Deriv Peer to Peer (Dp2p)- This is explained below

 As with deposits, Deriv.com customers aren’t charged any fees to withdraw profits. This makes Deriv one of the most accessible and cost-effective brokers to make deposits to and withdrawals from.

What Are Payment Agents on Deriv.com?

Deriv has an exciting feature for traders that makes it easy for them to withdraw and deposit via third parties called payment agents.

A payment agent is authorised to make deposits and withdrawals for clients who want to deposit using other payment options that are not directly available on Deriv.com. 

For example, E-Wallets like Skrill and Neteller do not accept customers from some countries. Traders from these countries can send payment agent funds via local bank transfer or mobile money.  The payment agent will then deposit funds from her trading account to the account of the trader.

In the same manner, the trader can request to withdraw via a payment agent. The funds will be deducted from the traders account to the payment agent’s account. The payment agent then pays the trader using an agreed local payment method e.g Mobile Money.

Another major advantage of payment agents is that they can make deposits and withdrawals to and from unverified accounts on Deriv.com.

 

An unverified account is one where the trade has not yet uploaded documents to verify their identity and residence due to a number of factors. For example, they may be renting an apartment without a lease agreement and thus they may have challenges getting a proof of residence document.

The minimum deposit or withdrawal allowable via payment agents on Deriv is $10.

Withdrawals and deposits made via payment agents are instant. 

What is Deriv Peer to Peer (Dp2p)?

Deriv Peer to Peer or Dp2p
Dp2p App

DP2P is Deriv’s peer-to-peer deposit and withdrawal service. It allows traders to get money in and out of their accounts through exchanges with fellow traders. Traders use their local currency in exchange for Deriv credits.

This was created to help traders overcome the challenges posed by the unavailability of other deposit options in some countries. The minimum that can be exchanged via Dp2p is just $1.

What is Deriv Skrill?

This simply refers to the Deriv credits or balance that can be sent from one account to another through either direct transfers from a payment agent account or from another regular user’s account via Dp2p.

The term Deriv Skrill has been coined by traders because these credits allow traders to deposit and withdraw from their accounts just like Skrill does. 

Best Echange

How Do You Contact Deriv.com Customer Support?

Customer support on Deriv is available 24/7 through the Help Centre. This is a self-service portal that can assist with a range of queries, from account questions to platform issues. It’s a knowledge base of some sort.

Live Chat – Live chat support is now available direct from the website but you will be talking to a bot.  Online chat can be a fast and helpful avenue for support but it is lacking on Deriv.com

Email Support Deriv can also be contacted via their email at [email protected]

Open An Account On deriv.com

Disclaimer

The products offered on the deriv.com website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on the website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved.

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