Comprehensive Deriv Broker Review: All You Need To Know (2024) 🔎

Deriv Broker Review

Deriv (formerly called Binary.com) is a popular online trading platform that offers a wide range of financial products, including forex, commodities, cryptocurrencies and synthetic indices. It was founded in 1999 and has since grown to become a leading broker in the industry.

Our team of trading experts put the broker to the test and in this Deriv broker review, we'll explore the features, pros, and cons of using the broker for trading.

Deriv at a Glance

🔎 Broker's NameDeriv Formely (Binary.com)
📍 HeadquarteredUSA
📅 Year Founded1999
⚖️ Regulating AuthoritiesRegulated through Malta Financial Services Authority (MFSA),
Labuan Financial Services Authority (LFSA),
Vanuatu Financial Services Commission (VFSC) and British Virgin Islands Financial Services Commission (BVIFSC)
Minimum deposit$5 / R70
👍 Demo AccountYes
📊 Institutional AccountsYes
📊 Managed AccountsNo
📈 Maximum Leverage1:1 000.
💳 Deposit & Withdrawal OptionsBank wire transfer –Credit/debit cards – Both Visa and Mastercard – USD/GBP/EUR/AUD. E-wallets – Skrill, Neteller, PaySafe, Fasapay, WebMoney, Cryptocurrency, Bitcoin, Ethereum, Litecoin and Tether. Payment agents, Dp2p
💻 Platform TypesBinary.com’s SmartTrader system.
DMT5, DTrader, DBot
📱 OS CompatibilityMac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
📈 Tradable assets offeredForex – 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

Commodities – Precious metals, such as gold and silver, plus energies like oil are available
👥 Customer Support Languages11 different languages
📆 Customer Service Hours24/7
📌 Open an account👉 Click Here

Is Deriv Legit?

Yes, Deriv is a legit, regulated and trustworthy broker. Deriv is regulated by several reputable financial authorities, including the MFSA (Malta)LFSA (Malaysia)BVI FSC (British Virgin Islands), and VFSC (Vanuatu).

These authorities ensure that Deriv adheres to strict operational standards and does not scam its clients. The broker is so trustworthy that close to 3 million people use it for trading worldwide.

Deriv Account Types

This Deriv broker review found that the broker offers three different account types that give you access to different trading instruments and features.

Derived Account (Deriv Synthetic Indices Account)

📌 Account Features🌐 Deriv Synthetic Account (Derived Account)
Leverage1:1000
Margin call100%
Stop out level50%
Minimum deposit$5/ R70
CommissionsNone

The Deriv Synthetic indices account allows CFD trading on synthetic indices like boom and crash, volatility indices, and jump indices.  Synthetic indices are 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 the most popular account type on Deriv and no other broker offers synthetics. You can read this in-depth guide on how to trade synthetic indices.

Deriv 1 million traders

Deriv Financial Account

The Deriv broker financial account allows CFD trading on major and minor forex pairs, commodities and cryptocurrencies, with leverage of up to 1:1000.

Swap Free Account

This Deriv forex broker review found that Deriv has just started offering a new account type that allows swap-free trading on synthetics, stocks, forex, stock indices, cryptocurrencies and EFT's.

In addition, Deriv offers a Demo account for each of these accounts for free to help beginners trade and test out the account features.

Deriv Demo

How Do You Open A Deriv Live Account?

This Deriv review found that opening a Deriv real account is easy and straightforward. Follow the steps below.

  1. Visit the Deriv live account sign-up page. You will see a page like the one below.
    Deriv broker review. how to open a real account
    Enter your email and agree to the terms and conditions. Click on ‘Create demo account
  2. Confirm your email address and then add your personal details over the next few screens.
  3. Verify your account by uploading the required documents.
  4. Once your account is approved you can deposit and start trading.

You can get detailed step-by-step instructions on how to open a Deriv real account here.

Trading Assets Offered By Deriv

Our Deriv.com review found that the broker 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.
  • Commodities
  • Precious metals, such as gold and silver, plus energies like oil are available
  • Cryptocurrencies
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Deriv Trade Types

This Deriv forex broker review found that the broker offers three trade types.

CFD trading On Deriv broker

A CFD (contract for difference) allows you to trade on the price movement of an asset, without buying the underlying asset. On Deriv, you can trade CFDs with high leverage and tight spreads. Trade on financial markets plus Deriv's proprietary synthetic indices that are available 24/7.

Multipliers Trading On Deriv Forex broker

Deriv multipliers combine the upside of leverage trading with the limited risk of options. This means that you'll multiply your potential profits when the market moves in your favour. If the market moves against your prediction, your losses are limited only to your stake.

Options Trading On Deriv

Options are products that allow for payouts from predicting market movements, without needing to buy the underlying asset. You only need to open a position that predicts how the asset will move over a period of time. This makes it possible for people to participate in the financial markets with minimal capital investment.

Deriv Broker Review: Fees & Spreads

Our Deriv forex broker review found that the broker offers tight spreads that start from 0.5 pips on EUR/USD.

Deriv Broker also provides commission-free trading and does not charge deposit or withdrawal fees, making it a cost-effective option for traders.

Additionally, if a trader holds a position for more than one day, they will be subject to overnight fees. The broker also imposes an inactivity fee of $25 on accounts that have been inactive for over 12 months.

Deriv Deposit & Withdrawal Methods

Deriv broker offers a number of deposit and withdrawal methods including:

💳 Credit & Debit cards💳 Perfect Money
💳 Payment Agents & Dp2p💳 WebMoney
💳 Crypto (Bitcoin, Ethereum, Litecoin and Tether)💳 Paysafe
💳 Zingpay💳 Jeton
💳 Fasapay💳Bank wire transfer

Our Deriv broker review found that the broker does not charge for deposits.

Deriv Minimum Deposit in Zar

💳 Bank wire transfer – Minimum deposits start at just $10 (R 140) with most deposits processed instantly.

💳 Credit/debit cards – Both Visa and Mastercard can be used with minimum deposits starting at 10 USD/GBP/EUR/AUD. Deposits made via credit and debit cards are processed instantly.

💳 E-wallets – Skrill, Neteller, PaySafe, Fasapay, and WebMoney Minimum deposits start at 5 of your base currency and are processed instantly.

💳 Cryptocurrency – You can deposit funds into your deriv.com account using Bitcoin, Ethereum, Litecoin, and Tether.

There is no minimum deposit when using cryptocurrencies, with payments processed in three blockchain confirmations.

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Deriv Minimum Withdrawal

This Deriv forex broker review found that the minimum deposit requirements vary depending on the withdrawal method chosen

  • 💳 E-wallets – the minimum withdrawal on Deriv using e-wallets like AirTM is 5 of your base currency which will be processed within one working day.
  • 💳 Credit/Debit Cards – minimum withdrawal on Deriv using credit cards is 10 of your base currency which will be processed within one working day.
  • 💳 Cryptocurrencies – Bitcoin offers the lowest minimum withdrawal of 0.0026 while crypto withdrawal times are one working day plus three blockchain confirmations.
  • 💳 Payment Agents – The minimum withdrawal you can make via payment agents is $10/ R140 of your base currency.
  • 💳 Deriv Peer to Peer (Dp2p)– The minimum withdrawal you can make via DP2P is $1 of your base currency

As with deposits, the broker's customers aren’t charged any fees to withdraw profits.

Deriv Platforms

Our Deriv broker review found that the broker offers a number of modern platforms with great features for your convenience.

Deriv MetaTrader 5 (DMT5)

DMT5 is Deriv's exclusive version of the MT5 platform developed by MetaQuotes Software.

The all-in-one FX and CFD trading platform give 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 1 million+ clients enjoying 24/7 trading.

The broker 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 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.

The DMT5 is one of the best forex trading apps in South Africa.

Deriv metatrader 5 dmt5

Deriv X

Deriv broker review. Deriv X platform

Deriv X is a CFD trading platform that lets you trade various assets in multiple markets simultaneously. It's fully customisable and packed with features that let you personalise your trading environment.

You can drag and drop the widgets you'd like to use, apply over 90 indicators and 13 drawing tools, and keep track of your progress and historical trades on one screen.

You can access Deriv X via a desktop as well as Android and iOS mobile devices.

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 a minimum position size of just $0.50 and a flexible trade duration between one second and 365 days available. The potential payouts on the DTrader impressively exceed 200%. You can also trade multipliers on D Trader.

Deriv Go

Deriv broker review. Deriv go platform

Deriv GO is Deriv’s mobile app that’s optimised for on-the-go trading.

With this platform, you can trade synthetic indices with multipliers where you can take advantage of risk management features such as stop loss, take profit, and deal cancellation to better manage your trade.

You can download Deriv GO from the Google play store, Apple app store, and Huawei app gallery.

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

DBot 

DBot is Deriv Brokers' free robot trading platform that gives you a straightforward path to getting set up using algorithmic investing. The platform 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.

Deriv Broker Review: Customer Support

This Deriv broker review found that customer support is available 24/7 on Deriv 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.  If your issue is not resolved you will then be transferred to a human agent.

Email Support – The broker can also be contacted via their email at support@deriv.com

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Deriv Broker Review: Education

Our experts found that traders can access Deriv Academy which covers recent market news, educational videos, and trading articles.

However, the broker does not provide trading seminars, webinars, insights, and other learning materials and research, so if you’re looking for more comprehensive education you may look for other Brokers offering better resources like HFM, Exness & XM.

Where is Deriv Broker Located?

Deriv (SVG) LLC is located in Hinds Buildings, Kingstown, St. Vincent and the Grenadines (company no. 273 LLC 2020). This Deriv broker review found that the broker also has offices in Dubai (UAE), Malta, Cyprus, Malaysia (3), France, Channel Islands, Paraguay, Rwanda and Belarus.

Deriv Bonuses

Our Deriv broker review found that the broker does not offer any kind of bonus or promotion.

 🌐Deriv
💸Sign Up Bonus📌No
💸Welcome Bonus📌No
💸 Referral Bonus📌No

Even though Deriv does not offer bonuses, rewards, or any other promotions, traders should not be discouraged by this. The broker still offers attractive trading conditions. You can also check out these brokers with bonus.

Deriv Broker Complaints

Some traders complained about Deriv's slower responses via email. However, when our team reached out to Deriv support via email we got a response in 2 hours.

Also out of 40 000 reviews on Trustpilot Deriv has an average rating of 4.6 out of 5 which is quite impressive.

Deriv Broker Pros & Cons

Deriv Broker Review: Our Verdict

In conclusion, our Deriv broker review found that Deriv is considered a reliable broker with a wide range of trading instruments and professional trading platforms. 

The broker is authorized and regulated by multiple financial regulatory bodies, so provides a high level of security and transparency. 

The commission-free trading, and absence of deposit and withdrawal fees make this a cost-effective broker with low trading fees.

The low minimum deposit requirement and demo account option make it accessible for traders of all levels.

Overall, traders have expressed satisfaction with Deriv’s trading conditions and products. Deriv Broker is a great option for those looking for a reliable and secure broker.

It is one of the best brokers in South Africa.

Frequently Asked Questions On Deriv Broker Review

What are the different types of Deriv trading accounts?

Deriv offers three different account types i.e Derived account, Financial account and Swap-free account

Is Deriv a regulated broker?

Yes, Deriv is regulated by several reputable financial authorities, including the MFSA (Malta)LFSA (Malaysia)BVI FSC (British Virgin Islands), and VFSC (Vanuatu).

Is Deriv a good broker?

Yes, Deriv is a good broker that is well-regulated and offers a variety of trading instruments with low minimum deposits and fast withdrawals.

Is Deriv legit in South Africa?

Yes Deriv accepts traders from South Africa

How long does it take to withdraw from Deriv?

Withdrawal times depend on the withdrawal method used. E-wallet withdrawals take a day while withdrawals via payment agents and DP2P are instant. Bank wire transfers take 2-10 days.

What are the advantages of using Deriv broker?

Deriv offers low minimum deposits, fast withdrawals, 24/7 support, local funding methods like cash and 24/7 trading through synthetic indices.

What are the disadvantages of using Deriv broker?

Deriv does not offer copy trading and bonuses. The broker also does to accept traders from some countries.

Do people make money on Deriv?

Yes, good traders make money on Deriv. It all depends on the trader's skill and discipline.

Does Deriv have Nasdaq?

Yes, you can trade Nasdaq on Deriv via the Financial Account.

What is minimum deposit on Deriv?

The minimum deposit and withdrawal on Deriv is $5

What is Deriv?

Deriv is a global online trading platform that offers a wide range of financial instruments, including forex, CFDs, cryptocurrencies, and synthetics. The company was founded in 2002 and is headquartered in the British Virgin Islands. Deriv is regulated by the Financial Services Commission (FSC) of the BVI.

How do I get started with Deriv?

Simply open an account and deposit funds. Once you have done that, you can choose from a variety of trading instruments and platforms to trade.

How can I contact Deriv customer support?

Deriv customer support is available 24/7 via live chat, email, and phone.

How do I open a Deriv account?

Visit the Deriv account signup page and enter your email to get started.

Deriv offers complex derivatives, such as options and contracts for difference (“CFDs”). These products may not be suitable for all clients, and trading them puts you at risk. Please make sure that you understand the following risks before trading Deriv products: a) you may lose some or all of the money you invest in the trade, b) if your trade involves currency conversion, exchange rates will affect your profit and loss. You should never trade with borrowed money or with money that you cannot afford to lose.

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