Online trading platforms allow the opportunity to make trades from the comfort of the house using your laptop or mobile. At the same time, however, choosing the right trading platform and the brokerage firm may be difficult since there have been many scams in the recent past. Therefore, it is crucial to thoroughly analyze any trading platform and brokerage firm before trusting your finances and financial future with it.
Deriv.com broker is a relatively new name among online traders, and there have been some doubts about its authenticity. Several users, in various online posts, have raised questions regarding whether or not Deriv.com is the right platform for beginner traders. This article provides a detailed Deriv.com review of the said online trading firm and tries to find a reasonable answer to this question.
The firm offers a diverse range of online trading services, which may include but are not limited to binary options trading, forex trading, commodities trading, synthetic indices, and CFD trading.
It offers these services across various trading platforms, including DMT5, Dtrader, Dbot, and Smart Trader. This allows the ability to choose the right trading product and the perfect trading platform, according to one’s specific needs and preferences. Before going any further into discussing specific details regarding the brokerage firm, it is important to mention here that Deriv.com is not a new firm that made its way into online trading out of nowhere. In fact, Deriv.com’s history (and name) goes back two decades. You may not have heard of Deriv.com as this is a recent brand name of the famous Binary.com broker.
As mentioned earlier, the history of Deriv can be traced back to 1999 when a team of forex traders and mathematicians gathered to design an online algorithm for forex trades. However, the company has a habit of constantly rebranding its service with the evolution of the available resources and services offered. Hence, it was soon rebranded to “Bet on Markets” and then to “Binary.com”.
Since 2013, binary.com has been a famous online trading firm that provides a range of trading services. With the evolution of the services offered and enhancement in the features, the company announced to rebrand itself as “Deriv.com”. This is the story behind all the fuzz about Deriv.com. Now that we are clear that Deriv is not a new firm like dozens of small firms that claim to offer wonderful services but then vanish quickly. Let’s look at a comprehensive review of various aspects of the firm.
Creating a Deriv.com login ID is fairly straightforward. You do not have to provide a lot of information or go through a hectic registration process at the time of creating an account at Deriv.
In fact, you can create a Deriv.com login ID by simply providing the most basic information, which includes email address, name, and password, etc.
The requirements to create a Deriv.com user id are also very basic. However, you must be 18 years of age or older at the time of creating a Deriv.com login ID, as the majority of legal authorities and regulators do not allow minors (below the age of 18) to enter into trades on their own.
However, if you are already a user of Binary.com, you can always log in to Deriv.com using the same credentials that you use on the binary.com platform. You do not have to create a new Deriv.com login ID to be able to use Deriv.com’s services.
Deriv Demo Account
As a beginner trader, it is never recommended to enter into real trades unless you have gained enough experience and exposure to the market. Regardless of the type of trades or markets you want to enter in the future, it is always useful to gain first-hand experience in the market without risking any real money. This is where the Deriv demo account yes comes in very handy for newbie traders. (professional traders may also use this feature to master their game or to try other products).
Any user can get his or her hands on a Deriv.com free demo account by simply creating a Deriv.com login ID. You get $10,000 demo funds to make trades and to gain real-life experience in the market. The demo (practice) account is run according to real market information, and it replicates actual market conditions. The trades are executed in real-time, and you get to make dummy profit (or loss) just like in real market conditions.
An interesting feature of the Deriv demo account is that it is completely free for every user, which means that one is not expected to deposit the minimum amount or pay any other hidden charges in order to gain access to the demo account. Moreover, the Deriv.com demo account is not time-bound, meaning a user may take as much time as he or she wants before entering into real trades.
Hence, it is strongly recommended that novice traders take the maximum out of this opportunity and polish their trading skills and gain first-hand trading experience by binary options trading in real-life market conditions without losing real money. Deriv.com forex broker has a feature where you can build your own algorithm for trading, but that might be a bit too advanced for some traders so you might be more interested in binary options robot.
Deriv.com Trading Platform – A Nouveau Trading Experience
Deriv.com conquered the markets offering enhanced user experience and new trading options to more than 300000 global clients spread over 100+ countries. The brokerage is backed by the MT5 platform which is well known for the automated trading (trading robots) and other trading options which we didn’t think were possible.
Deriv.com’s trading platform is developed on cutting-edge trading software which provides the clients with endless possibilities and greater peace of mind. Deriv.com’s platform can be easily configured as per the user’s choice meaning that the user can set the trade areas and charts as they want. The platform allows the multiple trade windows to be opened at once which is very convenient if a specific window needs to be moved around.
Deriv.com uses multiple trading software and technologies to provide a unique trading experience.
DMT5 is the trading platform using MT5-based software. DMT5 is a multi-asset trading platform providing a wide range of financial markets to the traders.
User can use the DMT5 to spot forex and CFDs with high leverage and variable spreads for maximum flexibility.
The DTrader is an advanced trading software that allows traders to trade more than 50 assets in the form of multiplies, digital, and lookback options. The range of assets on Dtraders includes forex, commodities, stock indices, and synthetic indices. The platform offers three contract types on DTraders: Highs/Lows, Ups/Downs, and Digits.
DBot is a web platform for building a strategy of trading digital options. On this platform, you can easily build your own bot for trading by dragging and dropping the blocks. Traders can choose the blocks from categories under the block menu. There is a detailed guide on creating and changing the bot in the help section of the website.
SmartTrader, much like Deriv.com’s trading platform, is a tailor-made trading platform best suited for beginners. It offers binary options trading in a simple and easy-to-use interface. With SmartTrader, you have different types of trades to choose from including
- Touch/No Touch
- and many more.
You can set your own expiry times, ranging from 1 day up to 1 year.
Deriv Minimum Deposit
If you have already used binary.com (or its predecessors), you must be aware of the very lenient deposit and withdrawal rules by this company. In a similar manner, you are not expected to deposit a huge amount at deriv.com before executing real trades. However, the exact requirement for the minimum deposit amount may vary according to the specific payment you choose at the time of making your initial payment.
If you are making a deposit and withdrawal by debit or credit card, you will only need to deposit $10 as the minimum amount for making real trades (you can always deposit more if you want to start off big). On the other hand, the minimum deposit requirement in the case of E-wallets is a mere $5. However, the minimum requirement for bank wire transfer may vary anywhere from $5 to $500, according to specific banking methods used for making the payment. Similarly, if you choose to deposit the amount via the cryptocurrency payment method, then there is no minimum requirement whatsoever.
Deriv.com Depositing Payment Methods and Currencies
Moreover, any of the USD, GBP, EUR, or AUD currencies may be used for bank wire transfer, and the deposit requirement may depend upon the specific currency chosen along with few other factors. However, only the United States Dollar (USD) may be used if using Pay-Trust or Help-2-Pay payment method.
A range of payment methods is available for Deriv.com deposit and withdrawal for real binary options trading. However, it may be worth mentioning that the use of debit/ credit cards remains the most popular option for both deposit and fund withdrawal, because of the simplicity of the method. Furthermore, transactions are reflected in the user account much quicker than most other methods.
You can also use Visa, Mastercard, and Maestro to transfer funds into your account. Minimum and maximum limits are set at 10 and 10,000 respectively. Deposits are transferred from credit and debit cards instantaneously while withdrawals are processed in 1 working day. The Maestro and Mastercard facility is only available for UK clients. If you are transferring funds in your Deriv account using a credit card, please ask your bank to authorize the transactions with the brokerage otherwise your deposit may get declined.
E-Wallet holders can transfer their money into their brokerage account by using their e-wallets. FasaPay and Skrill are the most famous and widely used E-Wallet methods to transfer money. There are various other e-wallets allowed on Deriv. The minimum and maximum limits for both deposits and withdrawals are set at 5 and 10000. Clearance time for deposits and withdrawals are the same as for credit cards.
As the cryptocurrencies hit the financial market with greater force, the online trading platforms had no other choice than to accept the crypto assets as the payment method for deposit and withdrawal. Deriv being the technological front runner did nothing different and allow the cryptocurrencies as the payment method for depositing and withdrawal from Deriv account. Traders can use Bitcoin, Ethereum, Litecoin, and Tether cryptocurrencies for transferring money in and out of their Deriv account.
One of the best features of using deriv forex broker is that there are no hidden charges when it comes to making withdrawals from your account. Similar to deposits, the maximum withdrawal amount per day varies according to the choice of withdrawal. In the case of debit or credit cards, you may be able to withdraw up to $10,000 in a single working day.
The transaction is usually completed within one working day, which is quicker than most other withdrawal methods. The maximum withdrawal amount for wire transfers depends upon particular banking methods used and may vary greatly. Moreover, wire transfers may take up to 3 working days to complete transaction.
Deriv.com Minimum Withdrawal Amount
The minimum amount for withdrawal from Deriv.com account onto your crypto wallet depends on the latest exchange rates of the crypto/USD.
The time required for withdrawal of funds is 1 day plus three blockchain confirmations.
The withdrawal of funds from your Deriv.com account needs verifications through email. The verification link is sent to your registered email ID and you need to confirm the withdrawal request by clicking the verification link within one hour.
The platform charges a dormant fee on the idle account that has not placed a buy or sell transaction over a continuous period of twelve months. If you plan to stay away from your account and trading for a long time, there is self-exclusion option that you can use.
In cases where a trader wishes to receive funds in the form of cryptocurrencies, there is no pre-set maximum limit for withdrawal. However, the limit may depend upon the prevailing spot rate between the particular cryptocurrency and the United States Dollar. Even though Deriv accepts crypto for payment, you should not relate Deriv.com with crypto scams like the one that we explained in our Bitcoin Revolution review.
Deriv.com forex broker has adopted the industry’s best prevailing practices to ensure the security of financial assets and the safety of binary withdrawal transactions. Each time a user requests fund withdrawal, he or she is expected to verify the withdrawal request by following a verification link sent to the registered E-mail ID. The link remains valid for only one hour. If the user fails to verify within an hour, the link expires to ensure it is not misused. Furthermore, all financial communication is encrypted according to modern encryption standards and tools.
Is Deriv Legit
Instead of answering the question with a simple Yes (or a simple No), let’s briefly go through Deriv’s overall operations and its licenses. The fact of the matter is that the brokerage firm is already providing online trading services to nearly half a million traders belonging to nearly 100 different countries. So, there should not be any doubt about the legitimacy of the firm.
Deriv.com Regulatory Status
The brokerage is licensed in and outside the EU to offer financial products to clients for trading. Deriv.com is regulated under MFSA Malta, licence no. IS/70156, Labuan Financial Services Authority, Vanuatu Financial Services Authority, and the British Virgin Islands Financial Services Authority.
Furthermore, it may be kept in mind that Deriv.com already holds a license to operate in over 100 geographic jurisdictions, both inside and outside the European Union region. Financial regulators include the Australian Securities and Investments Commission, the Financial Conduct Authority of the United Kingdom, and the Cyprus SEC. However, the registration process is in the final stage and may be completed within a few weeks of writing this deriv review.
Due to this information, it is safe to say that Deriv.com is a legit firm, and there is no ground on which any doubt about it may stand. At the same time, however, it is recommended to go through the official website in order to understand all the aspects related to trading at deriv.com. The Frequently Asked Question (FAQs) section provides answers to all the fundamental questions related to trading with deriv.com. Hence, the FAQs may be studied in detail for further information and guidance in this regard. US traders can check our Nadex review since Deriv.com does not accept US traders.
Is Deriv.com a Scam?
The simple answer to this question is ‘No’. Let’s now elaborate on this answer a bit to develop a better understanding of the authenticity of Deriv.
The fact of the matter is that even though the brand Deriv.com is a very recent entrant in the world of online trading, the firm has a track record of over two decades to prove itself as a competent and legit binary trading service provider. Nearly all the top management, including its Chief Executive Officer and other directors, are well-known, and there is nothing suspicious or hidden when it comes to the way the company manages its business. Regent Markets, Bet on Markets, and Binary.com (all of which are previous names of the same company) have a reliable track record and hundreds of thousands of satisfied traders support them.
Furthermore, Deriv does not live in digital space only. The company is regulated in dozens of jurisdictions and by dozens of regulators, British Virgin Islands financial services and Malta Financial Services authority auto discussed earlier in this review. This means that all activity by the firm is monitored simultaneously by various authorities and regulators. It is highly unlikely that Deriv would initiate any sort of financial services scam in this scenario.
Owing to all the facts and arguments discussed above, it is safe to say that Deriv.com is not a scam.
Deriv is legit and is preferred by hundreds of thousands of traders because of the various features and services it has to offer. It is recommended to carefully analyze various aspects and features before opening an account with any broker, including Deriv.com. You may or may not like the features and trading services offered by the company, but rest assured you do not have to worry about it being a scam.
Moreover, a beginner trader has nothing to lose with a deriv.com demo account, as it is completely free and does not require real money. If you are skeptical about the services and legitimacy of the online brokerage firm, we recommend that you open a free demo account with the company. You may take as much time as required to master the art of trading and to familiarize yourself with the trading platforms.