Deriv Review 2024

Quick Links

• Our Review Method

• What is Deriv?

• Deriv Pros and Cons

• Is Deriv Safe or a Scam?

• Leverage

• Accounts

• Instruments

• Fees

• Spreads

• Trading Platform

• Customer Support

• Education

• Conclusion

Our Review Method ▲

At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.

What is Deriv? ▲

Deriv is a distinguished online trading platform that specializes in providing a variety of financial instruments for trading on its advanced proprietary platforms. With more than two decades of operational experience, it offers trading opportunities in CFDs and derivatives across a wide range of markets including Forex, stocks, indices, cryptocurrencies, options, and commodities. Deriv has its headquarters in Malta and operates under strict regulation and oversight by several reputable financial authorities, such as the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (LFSA), the British Virgin Islands Financial Services Commission (BVI FSC), and the Vanuatu Financial Services Commission (VFSC), ensuring a high level of trust and security for its clients.

Deriv Pros and Cons ▲

Pros

• Provides a secure and reliable trading environment through its proprietary trading platforms

• Offers a wide range of derivatives and other market products with competitive fees and spreads

• Features a comprehensive learning academy with a variety of resources including market news, educational videos, and articles

Cons

• Trading conditions and regulations may vary depending on the client's location and the entity they are trading with

• Customer support team is available 24/7, but some users have reported occasional delays in response times

Is Deriv Safe or a Scam? ▲

Deriv is a trustworthy brokerage company, not a scam. It is backed by multiple regulatory bodies that enforce strict rules and guidelines on the broker’s operations, thereby ensuring the safety and reliability of its services. Deriv's legitimacy is further affirmed by its authorization and regulation by several financial authorities, including those in Malta, Malaysia, the British Virgin Islands, and Vanuatu. This multi-jurisdictional regulation underscores the broker's commitment to adhering to strict regulatory standards and demonstrates its reliability. Our ranked Deriv trust score is 8.2 out of 5, reflecting the broker's good reputation and the quality of services provided, although it is noteworthy that some trading services are offered through offshore entities.

How Are You Protected?

Being regulated ensures that Deriv prioritizes the safety of its clients’ funds by segregating them from the company's operational accounts and not using them for operational expenses. Additionally, the broker offers negative balance protection, which safeguards traders’ accounts from falling into negative balances during periods of market volatility or unforeseen events.

Leverage ▲

The application of leverage in trading presents a significant opportunity to amplify market exposure with a smaller initial capital outlay, yet it comes with the risk of potential substantial gains or losses. It is essential to understand the mechanics of leverage and its potential consequences before engaging in trading activities. Deriv provides leverage in accordance with regulations set forth by the MFSA, LFSA, BVI FSC, and VFSC, which vary across different jurisdictions: International entities can offer traders leverage of up to 1:1000 for major currency pairs, while European clients may access accounts with the Malta entity, which offers leverage of up to 1:30.

Accounts ▲

Account Types

When choosing Deriv as their forex broker, traders are presented with three distinct account options, as revealed through our comprehensive research: Standard Financial, Financial STP, and Synthetic accounts. Each provides unique trading opportunities. Additionally, for newcomers to the trading world, Deriv offers a Demo account at no cost, enabling them to practice trading skills and make trial trades without financial risk.

How to Open a Deriv Live Account?

Setting up an account with Deriv is straightforward. Potential traders should navigate to the account opening or sign-in page and follow these guided steps:

• Select and click on the “Create an Account” page

• Fill in the necessary personal details (Name, email, phone number, etc.)

• Verify your identity by uploading required documents (proof of residency, ID, etc.)

• Complete the electronic questionnaire to confirm your trading experience

• Once your account is fully activated, proceed with depositing funds.

Instruments ▲

Trading Instruments

Deriv offers a broad spectrum of trading instruments, including CFDs, Forex derivatives, stocks, indices, cryptocurrencies, and commodities, as determined through our test trade. Traders can also leverage up to 1:1000 on the international entity, alongside options and binary options trading. These opportunities can significantly amplify profits but come with high risks and should be approached with caution. The Deriv Markets Range is awarded a score of 8.5 out of 5, recognizing its wide selection of trading instruments. However, the availability of instruments varies depending on the Deriv entity, and certain popular asset classes like futures and bonds are not offered.

Fees ▲

Deriv Fees

Our analysis reveals that Deriv is committed to cost-efficiency, offering commission-free trading and not imposing fees for deposits or withdrawals. However, traders holding positions overnight will incur overnight fees. Additionally, an inactivity fee of $25 is levied on accounts inactive for more than 12 months. Compared to a pool of over 1000 brokers, Deriv's fee structure is considered low, achieving an overall rating of 8.2 out of 5.

Spreads ▲

Traders can benefit from selecting tight and variable spreads across Deriv trading accounts, with an average spread of 0.1 pips for the popular EUR/USD currency pair. Deriv also provides competitive spreads across other trading instruments like stocks, indices, cryptocurrencies, and commodities. Such attractive spreads position Deriv as a compelling choice for traders exploring various markets. Based on our comparative analysis with other brokers, Deriv Spreads receive a low ranking with an overall score of 8.5 out of 5, noting particularly favorable Forex spreads and competitive rates for other instruments.

Deposits and Withdrawals ▲

For transactions into or out of their trading accounts, traders are presented with a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, e-wallets, and cryptocurrencies. It's crucial to remember that certain payment methods may have unique requirements and limitations depending on the financial institutions involved.

The overall rating for Deriv's funding methods is ranked as good, achieving a score of 4.5 out of 5. The fees associated with these methods are competitively low, and traders can benefit from a range of account-based currencies. Here are some points of consideration regarding Deriv's funding options:

Pros

• A wide array of funding methods including Bank Wire, Credit/Debit cards, Skrill, Neteller, and more

• A very low minimum deposit requirement of $5, significantly lower than the industry average of $500

Cons

• Certain payment methods may have specific restrictions and requirements

To start trading with Deriv, a minimum deposit of $5 is required, which is an attractive offer compared to many other brokers. Withdrawals at Deriv are straightforward and swift, with most requests processed within 1 working day.

Trading Platform ▲

Deriv provides several trading platforms, including its own proprietary web platforms Deriv X, Deriv EZ, and Deriv GO, in addition to well-regarded third-party platforms like MetaTrader 5, Binary Bot, and SmartTrader. These platforms are equipped with user-friendly interfaces and a plethora of trading tools such as technical indicators, tools, charts, and customizable trading strategies. They are accessible via web, desktop, and mobile devices, offering convenience for traders on the move. Our comprehensive review, which included comparisons with over 1000 brokers, rated Deriv's platform offerings as good, with a score of 4.3 out of 5.

Customer Support ▲

Deriv offers round-the-clock customer support through Live Chat, WhatsApp, and a Help Center. In addition to its headquarters in Malta, Deriv has representative offices across Europe, Asia, the Middle East, Eastern Europe, Africa, Latin America, the Caribbean, and Oceania, ensuring a broad reach for customer assistance. The quality of Deriv's customer support is rated as good, with a score of 4.0 out of 5, based on our evaluations. Nonetheless, it's worth noting that some traders have reported occasional delays in receiving support responses.

Education ▲

Traders have access to the Deriv Academy, which offers recent market news, educational videos, and trading articles. However, the broker falls short in providing trading seminars, webinars, insights, and comprehensive learning materials and research. As a result, those seeking an in-depth education may need to explore other brokers with more extensive educational offerings. Deriv's educational resources are rated at 3.3 out of 5.

Conclusion ▲

In summary, Deriv is recognized as a reliable broker, offering a broad spectrum of trading instruments and advanced trading platforms. The broker's authorization and regulation by multiple financial regulatory bodies ensure a secure and transparent trading environment. Highlights of trading with Deriv include commission-free transactions, no deposit or withdrawal fees, and negative balance protection. However, trading conditions may vary depending on the entity with which you open an account; therefore, we recommend the European branch for enhanced protection.

Traders generally report satisfaction with Deriv's trading conditions and product offerings. Although, there have been instances of delayed customer support responses according to some users. Thus, we recommend conducting thorough research before choosing Deriv to ensure it aligns with your trading preferences and requirements.

Based on our extensive review and expert opinions, Deriv is particularly suitable for:

• Traders from Europe

• International traders

• Traders from Malaysia

• Those who prefer the MT5 trading platform

• CFD and currency trading enthusiasts

• Beginners and advanced traders

• Individuals using scalping/hedging strategies

• Those looking for STP/NDD execution

• Traders seeking a wide range of instruments

• Those in search of competitive fees and spreads

• Clients who value supportive customer support

• Users of EA/Auto trading

• Traders seeking quality trading tools