Deriv

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Deriv – is a platform for trading forex instruments, indexes and cryptocurrencies, which is a rebranding of the Binary.com – Binary options brokeroperating since 1999. It offers just over 100 assets, several types of trading platforms and the support of 5 corporate offices. However, it does not offer detailed trading conditions at the stage of familiarization.

Let’s try to understand if this service provider is interesting and reliable. Deriv – a scam or a serious one Forex broker? Let’s start with the main thing.

 

Terms of trade with Deriv

In Deriv you can open three types of accounts (taking into account the asset):

• Synthetic. This is cryptocurrency trading with leverage up to 1:1000, a Margin Call of 100%, a 50% stop out and 10 varieties of u.e.
• Financial. CFDs on commodities, synthetic and stock indices (50+). Leverage the same, Margin Call 150%, stop out 75%.
• Financial STP. Currency pairs (also about 50). Trading leverage is up to 1:100, Margin Call and stop-out are the same as for contracts.

There is no commission in all cases – the company earns on spreads. The currency account is opened in euros, American/Australian dollars and British pounds sterling. Information about the spread, trust management, trading advisors and other features is not provided until you log in to your account and confirm your identity. Liquidity providers are also not specified. There is very little information in general. Even in the so-called training center there is information only on the basics: depositing methods and limits, distinctive features of terminals and market/contract definitions (Forex Trading Training).

Your own analytics are not collected. All there is is data inside the terminals.
Support for traders is provided by phone (international number and numbers of 5 corporate centers), by e-mail (by direct mail or through the feedback form) and in online chat inside the platforms.

 

Platform Deriv.

Deriv works with 4 types of platforms: MetaTrader 5 (MT5), DTrader, SmartTrader and DBot.

MT5

A newer version of everyone’s favorite MetaTrader 4 (more timeframes, the ability to take positions in already selected pairs). Works with currency pairs and CFD (70 and a few assets). Basic functionality:

• Viewing quotes and placing orders (instant, pending).
• The price cup is up to 32 lines deep.
• All types of charts and trades.
• 30 indicators, 24 analytics objects.
• History and statistics with the possibility of unloading.
• Up to 4 charts in one window and fast switching between trading instruments.
• Color scheme settings.
• Push notifications.
• Financial news and training materials.

The disadvantages are the lack of support for downloadable templates and indicators (only their own) and lower, in the opinion of many users, performance in comparison with its predecessor. Presented in mobile and desktop versions.

DTrader

Terminal for CFD trading on 50+ assets. Also suitable for forex and betting contracts from 0.35 USD lasting from 1 second. It supports 20 indicators, allows creating and adding widgets. Functionality is modest, but it works fast.

SmartTrader

The platform is more convenient for trading contracts. The interface is very simple, the settings are minimal: only input, output and stop quotes, duration, amount and type of currency unit. No additional options are offered. It looks more like an exchanger.

DBot

Bot for automated trading with analysis tools, indicators, Take Profit and Stop Loss functions. Allows you to load additional modules and save options set at the last trade. You set the asset, buy and restart conditions and confirm everything – then the program will do everything for you. The only thing left to do is to monitor the account status (you can set up notifications in Telegram for this purpose).

Before you start using any of the platforms, verification is required: you provide a photo of your passport, driver’s license or ID-card (for EU citizens) and proof of location (photo of the receipt of payment, where you can clearly see your address and full name).

Broker quotes

Deriv is the quotations of 68 currency pairs in STP format. The platform owner himself divides them into primary (the most common (AUD/JPY, EUR/CAD, EUR/GBP, etc.), secondary (GBP/NZD, NZD/USD, GBP/CHF, etc.) and exotic (AUD/SGD, EUR/HKD, EUR/MXN, etc.). Liquidity providers, as we mentioned above, are not named. In online services for comparison of rates from different brokers Deriv is also missing. So it is not possible to check the accuracy. It remains to rely only on information from reviews, although their reliability is also almost always questionable.

 

Demo account

If you do not want to spend your own money right away and plan to practice and assess the platform’s capabilities, you can start by opening a demo (training, free) account. To do this, register by entering an e-mail address and confirm it by clicking on the link in the letter you receive. Authorization through Facebook is also available, but for this you will need to provide consent to the processing of data from your personal page.

Then we specify the country of residence, come up with a password and go to the platform. On the balance of the demo account $10 000 in virtual currency. We can trade until they run out. From the same personal office you can connect a trading account – just click on the balance in the upper right corner of the account, click Add opposite the type of account you want (depends on the asset: Financial – cryptocurrency, Synthetic – CFD, Financial STP – forex), fill out the form (select the account currency, name, date of birth, phone number, address, and agree with the terms of the company), get verified and deposit the account.

 

Mobile application

Deriv does not have its own mobile application – the broker uses the version for narrow format devices MetaTrader 5. It traditionally supports Android and iOS (from 9.0 and newer). The functionality is no different from the desktop: analytics, placing and closing orders, various settings, notifications, tutorials and chat. The software is rated quite well: 4.4 on a five-point scale among Android phone owners and 4.6/5 among Apple phones.

 

Bonuses at Deriv

On the site deriv.com There is a welcome program in the form of a cashback for replenishment (up to 50%). However, you can get it only after identity verification, which we told above. Besides that, the referral program participants are entitled to rewards: they earn 30% or 45% from the monthly revenue and up to 1.5% from the payments of the users who registered in the system passing through the referral link. Plus a $100 one-time fee when these users contribute a total of $100 to their balance. The link is automatically generated and displayed in the personal cabinet. And is placed on any legal resource: personal site, blog, page / conversation social network, chat, forum, etc.

 

Deposit and withdrawal

Deposits and withdrawals to Deriv are made by the following methods:

• Domestic (from the card of the same country) and international bank transfer (SEPA, PayTrust, Help2Pay, Dragon Phoenix).
• Mastercard, VISA, Maestro cards.
• Electronic systems Perfect Money, FasaPay, Skrill, Neteller, WebMoney, QIWI, PaySafeCard, Jeton, SticPay, Airpay.

The minimum amount in all cases is 5 USD/EUR/GBP/AUD. Crediting of trading account balance is instant in all cases (exception: bank transfers, where processing takes up to 1 business day). Withdrawal – from 1 to 2 business days, depending on the payment agent. You pay the fee for transfer/conversion.

 

Complaints about Derive

About site deriv.com There are practically no reviews. Most traders know the broker as binary.com. And here the opinions are very different. Some users note the good bonus conditions, the clear platform, the friendly support team and good earnings.

Others, on the contrary, accuse the broker of fraud, telling about problems with receiving payments and “sinking” the deposit, as well as “faking” quotes.

 

If there are any reviews of complaints about Deriv forex broker, we’ll be sure to post the information on social media. Sign up so you don’t miss anything!

Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

 

Deriv broker regulator

The owner of the site deriv.com is Deriv Group, regulated by the Malta FSA (license number – C70156). A screenshot of the document is posted on the website. It was issued on June 27, 2016 and is currently active. As for the control body itself, there is no public registry on its official website, which can be used to check the validity of the document.

View Deriv’s license on the broker’s website

Deriv.com User Agreement

The General terms of use are a document that sets out the general requirements for the resource’s users and the obligations to them. Let’s look at a few provisions. For example, clause 6.1.4 says that your account can be temporarily blocked if you don’t provide the company with the necessary information as part of the verification procedure. Your personal data may be disclosed to third parties for any reason, not only for the purpose of proper performance of contractual obligations (clause 6.1.6).

The broker will report any suspicious transactions to the appropriate authorities. It is allowed to create an account only for yourself. For this purpose verification is carried out. Accordingly, payments are made only to details of the account owner (clauses 6.2.5.2-6.2.5.4).

You are responsible for any losses and damages that the company incurs as a result of your failure to comply with the rules of the contract and legal requirements, as well as the exercise of your rights. You have the right to refuse payment and/or execution of the transaction if (clause 6.4.3)

It will be found that your activities violate the rules of any stock exchange, financial market. Deriv Group will be contacted by law enforcement authorities. Your actions will result in losses on the part of the company.

 

Deriv is This a Scam?

Information about Deriv practically none. The license is not displayed in the Malta FSA database (the regulator has no public registers), trading conditions are specified to a minimum, liquidity providers are not listed, there are reviews only about the site’s predecessor – binary.com.

This service provider is a kind of “dark horse. It was renamed only in 2020, but the company has existed since 1999, so it is strange that it tells almost nothing about itself except the history. Of course, we cannot categorically state that deriv.com is a scam, but the reliability of the broker does not cause much confidence.

 

Conclusion

Deriv – is a company project with a history. Renamed from Binary this year, the platform offers trading in 4 areas: forex, cryptocurrencies, commodities and indices (a total of just over a hundred assets). Only the details (spread, lot, PAMM, managers’ help, etc.) the broker doesn’t provide us. In order to see them, you have to pass the verification procedure, providing the data, which the company can then manage at its own discretion, passing them without restrictions to any third parties (as it is essentially stated in the user agreement).

We are offered a choice of 4 platforms, each with its own functionality. However, there are no training and analytical tools on deriv.com – you can only use what is in the arsenal of the terminals themselves. If you believe the descriptions of the account, for forex are good leverage and a minimum deposit. But the spread is considered rather high by many traders who left their comments about binary.com. By the way, it does not appear in the account descriptions. In general, the broker is quite ambiguous. We recommend to be cautious and not to invest big, starting with small deposits and orders for small amounts without leverage.