In-Depth Review of Deriv
Deriv is a comprehensive online trading platform that offers a variety of trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies. Deriv has emerged from the rebranding of Binary.com, carrying forward its legacy of innovation and reliability. In this detailed review, we will explore Deriv’s regulatory status, trading platforms, account types, fees, customer support, educational resources, and overall trading experience.
Your capital is at risk.
Deriv offers complex derivatives instruments, such as options and contracts for difference (“CFDs”). These products may not be suitable for all customers and trading them puts you at your own risk. Please ensure that you understand the following risks before trading Deriv products:
a) you may lose some or all of the amount invested in the transaction,
b) if your transaction involves conversion currency, exchange rates will affect your profits and losses. You should never trade with borrowed money or with money that you cannot afford to lose.
Regulatory Status and Security
Regulatory Compliance
Deriv operates under stringent regulatory oversight to ensure the safety and security of its clients’ funds and personal information. The broker is regulated by several reputable authorities, including:
- Malta Financial Services Authority (MFSA)
- Labuan Financial Services Authority (LFSA) in Malaysia
- Vanuatu Financial Services Commission (VFSC)
- Financial Commission (FinaCom)
These regulatory bodies enforce strict standards to maintain the integrity of the financial markets and protect traders from potential malpractices.
Client Fund Protection
Deriv places a high priority on the security of client funds. The broker ensures that client funds are held in segregated accounts, separate from the company’s operational funds. This segregation provides an additional layer of security, ensuring that client funds are protected in the event of financial difficulties faced by the company. Additionally, Deriv employs advanced encryption technologies to safeguard client data and transactions.
Trading Platforms
Deriv offers a suite of trading platforms designed to cater to different trading styles and preferences. The primary platforms provided by Deriv include DTrader, DBot, DMT5, and SmartTrader.
DTrader
DTrader is Deriv’s proprietary web-based platform designed for simplicity and ease of use. Key features of DTrader include:
- Intuitive Interface: A user-friendly interface suitable for both novice and experienced traders.
- Customizable Layout: Traders can customize the layout to suit their trading preferences.
- Advanced Charting Tools: Access to a variety of technical indicators and chart types for detailed market analysis.
- Wide Range of Trade Types: Includes multipliers, options, and margin trading.
DBot
DBot is an automated trading platform that allows traders to create and deploy their trading bots without any programming knowledge. Key features of DBot include:
- Drag-and-Drop Builder: An intuitive interface that enables the creation of trading bots using a drag-and-drop system.
- Pre-built Strategies: Access to pre-built strategies that can be customized to fit individual trading needs.
- Backtesting: The ability to test strategies against historical data to evaluate their effectiveness.
- 24/7 Trading: Automated bots can trade around the clock without human intervention.
DMT5
DMT5 is Deriv’s version of the popular MetaTrader 5 (MT5) platform. It is ideal for traders seeking advanced trading tools and features. Key features of DMT5 include:
- Comprehensive Charting Tools: Advanced technical analysis tools and charting capabilities.
- Multiple Order Types: Supports a variety of order types and execution modes.
- Algorithmic Trading: Compatibility with Expert Advisors (EAs) for automated trading.
- Market Depth: Provides insights into market liquidity.
SmartTrader
SmartTrader is the original trading platform from Binary.com, now integrated into Deriv. It is designed for binary options trading. Key features of SmartTrader include:
- User-Friendly Interface: Simple and straightforward interface tailored for binary options traders.
- Wide Range of Options: Includes call/put options, touch options, and more.
- Flexible Expiry Times: Traders can choose from various expiry times to suit their strategies.
- Risk Management Tools: Built-in tools to help manage trading risks.
Account Types
Deriv offers multiple account types to cater to different trading needs and preferences. These include demo accounts, standard accounts, and financial STP accounts.
Demo Account
The demo account is designed for new traders to practice and familiarize themselves with the platform without risking real money. Key features of the demo account include:
- Virtual Funds: Comes with $10,000 in virtual funds.
- Real-Time Market Data: Access to real-time market data to simulate live trading conditions.
- Unlimited Use: Traders can use the demo account indefinitely to hone their skills.
Standard Account
The Standard Account is suitable for most traders, offering a range of features and access to various trading instruments. Key features of the Standard Account include:
- Wide Range of Instruments: Trade forex, commodities, indices, stocks, and cryptocurrencies.
- Competitive Spreads: Tight spreads that vary depending on the instrument and market conditions.
- Flexible Leverage: Leverage options up to 1:1000, depending on the instrument and regulatory jurisdiction.
- Minimum Deposit: Low minimum deposit requirements, typically starting at $5.
Financial STP Account
The Financial STP Account is tailored for traders who prefer direct market access with no dealing desk intervention. Key features of the Financial STP Account include:
- Raw Spreads: Access to raw spreads from liquidity providers.
- Market Execution: Direct access to the interbank market with no requotes.
- Higher Leverage: Leverage options up to 1:100.
- Advanced Trading Tools: Enhanced trading tools and features for professional traders.
Fees and Commissions
Deriv’s fee structure is transparent and competitive, with most accounts offering commission-free trading. Instead, the broker earns through the spread. However, certain account types, such as the Financial STP Account, may incur small commissions on trades.
Spread and Commission
- Standard Account: Competitive spreads, typically commission-free.
- Financial STP Account: Raw spreads with a small commission, providing transparency in trading costs.
Non-Trading Fees
Deriv does not charge inactivity fees, making it an attractive option for traders who do not trade frequently. However, withdrawal fees may apply depending on the payment method. It is advisable to check the specific fees associated with different withdrawal options on the Deriv website or contact customer support for detailed information.
Customer Support
Deriv offers robust customer support through multiple channels, ensuring that traders can get assistance whenever needed. Customer support is available 24/7, and traders can reach out via live chat, email, and phone.
Live Chat
The live chat feature provides instant support, allowing traders to get quick answers to their queries. The support team is known for its responsiveness and helpfulness.
Email Support
For less urgent matters, traders can contact Deriv’s support team via email. The team typically responds within 24 hours, addressing any concerns or issues raised.
Phone Support
Phone support is available for traders who prefer to speak directly with a support representative. This can be particularly useful for resolving more complex issues that require detailed explanations.
Educational Resources
Deriv places a strong emphasis on trader education, offering a wealth of resources to help traders improve their skills and knowledge. These educational materials include:
Webinars
Regular webinars hosted by market experts cover a range of topics, from basic trading principles to advanced strategies. These webinars are interactive, allowing traders to ask questions and gain insights from professionals.
Video Tutorials
A comprehensive library of video tutorials is available, explaining various aspects of trading, platform functionalities, and market analysis techniques. These videos are particularly useful for visual learners.
Trading Guides
Deriv provides detailed trading guides on different topics, including risk management, technical analysis, and trading strategies. These guides are designed to help traders at all levels enhance their understanding of the markets.
Market Analysis
Daily and weekly market analysis reports provide insights into market trends, potential trading opportunities, and economic events that may impact the markets. These reports are valuable for making informed trading decisions.
Trading Experience
The overall trading experience with Deriv is highly positive, thanks to its advanced trading platforms, competitive pricing, and excellent customer support.
Execution and Performance
Deriv is known for its reliable trade execution and minimal slippage. The broker utilizes advanced technology to ensure fast order execution, which is crucial for traders who rely on precise timing for their trades.
Market Coverage
Deriv offers a broad range of trading instruments, including:
- Forex: Major, minor, and exotic currency pairs.
- Commodities: Precious metals, energy products, and agricultural commodities.
- Indices: Major global indices.
- Stocks: Shares of leading companies across various sectors.
- Cryptocurrencies: Popular digital currencies such as Bitcoin, Ethereum, and more.
This extensive market coverage allows traders to diversify their portfolios and explore various trading opportunities.
Conclusion
In conclusion, Deriv stands out as a comprehensive and reliable trading platform that caters to the needs of both novice and experienced traders. With its robust regulatory framework, advanced trading platforms, competitive pricing, and extensive educational resources, Deriv offers a well-rounded trading experience.
Whether you are looking for intuitive trading platforms, a wide range of trading instruments, or reliable customer support, Deriv delivers on all fronts. The broker’s commitment to security and client protection further enhances its appeal, making Deriv a top choice for traders seeking a trustworthy and efficient trading environment.
