DERIV is a renowned Forex and CFD broker developed and backed up by Binary.com. This broker runs an automated trading system (DBOT), a web-based platform and an MT5 platform. The new and improved DERIV boasts an enhanced user experience and a wide variety of products and assets, including binary options. If you were previously a Binary.com user, you can access DERIV accounts via the same login details as the two brands are now intertwined.

In this post, we will discuss what DERIV offers and explore the top considerations you need to keep in mind when choosing a Forex broker. Read till the end to understand whether this broker is worth trusting as you start your trading investment journey.

Details Information
Minimum withdrawal $5
Payment methods Bank wire transfer, Credit/debit cards(Visa, Master Card, Maestro etc)

Note: Mastercard and Maestro withdrawals are only available for UK clients.

E-wallets(Fasa pay, web money, perfect money, Skrill etc)

Cryptocurrencies

 

Swap fees Deriv.com promises tight spreads and minimal trading fees. As the company is still rolling out their new system, average spreads and commission data is limited
Maximum leverage 1:1000
Account types
  • Standard
  • MT5 (DMT5)
  • Synthetic Indices

 

Transaction cost Zero deposit and withdraw fees
Security & Regulation Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)

Minimum deposit

$5 for e-wallets, $10 for debit and credit cards and $500 for bank transfers.

Leverage

In Forex trading, leverage helps you to profit from relatively small price changes. Settle for a broker that offers a wide variety of leverage options and that match your trading needs.

DERIV offers leverage up to 1:1000. The leverage levels depend on the account type you use and the jurisdiction you open the account from. An example is leverage of 1:30 for accounts opened from the EU jurisdiction.

Account types

Different account types come with different minimum deposit thresholds and transaction costs. It is therefore imperative to settle for a broker with account types that you are comfortable working with.

DERIV offers three account types for their traders:

• Financial account (standard) – Offers minor currency pairs, variable spreads, high leverage and different trading commodities for both novice and experienced traders.

• Financial STP account- Offers tight spreads and high trade volumes for all

• Synthetic account- Allows traders to trade CFDs 24 hours a day and 7 days a week

Withdrawal and deposits

Please avoid Forex brokers that take forever to process your deposits/withdrawals or that have hidden fees. Always choose a low-cost and fast broker that also allows deposit and withdrawals with several standard methods or at least your preferable methods.

The payment methods offered by DERIV include bank wire, cryptos, credit/debit cards and various e-wallets. Here, you will get a minimum deposit as low as $5, meaning that all financial traders are accommodated. The payment fees depend on the type of payment method you use for deposits and withdrawals.

Security

You would not want to invest your money with a broker that is dishonest and that is insecure. Here, it would help if you went for a Forex broker that maintains satisfactorily dealing practices that are sufficiently regulated by official agencies.

DERIV is a reliable broker with a robust data security system. Their platforms are sufficiently encrypted and you can be sure that your information is secure here. In addition to this, they are regulated by top agencies and authorities. The top regulatory agencies for DERIV are:

  •  Malta Financial Services Authority (MFSA)
  • Labuan Financial Services Authority (Labuan FSA)
  • British Virgin Islands Financial Services Commission
  • Vanuatu Financial Services Commission (VSFC)

Bonus & promotions

Bonus & promotions increase your profit margins when running Forex or related commodities trades. Strike a deal with a broker that offers plenty of bonuses and promotions.

DERIV offers a free demo account that is available on all trading platforms. The demo account has $10,000 in virtual funds that you can leverage to enhance your trading skills. Even if there are no welcome bonuses and promotions, DERIV’s low minimum deposits and very competitive fees make it stand out.

Execution

An ideal broker will process or fill your deals in a matter of seconds. It is needless to say that this significantly increases your chances of making significant profits.

The new and improved DERIV will process your deals in an accelerated manner and you can be sure that you will never miss any trades.

Trading platforms

It is highly recommended to go for a broker running platforms that are quick and easy to use. It would also help if the platforms support standard Forex trading.

DERIV offers new and improved trading platforms; DMT5, DTrader and DBot. These platforms are feature-rich and offer top-of-the-pack analysis and research tools. As a trader, you can use any of these platforms to set up trades and charts as you wish.

Transaction costs {commission & fees}

Just like any other business, some trading brokers have hidden costs and you must check what past users are saying about the transaction costs of the broker you wish to work with. Always settle for brokers with reasonable transaction costs.

The trading commission in DERIV starts from 0.015% for Forex and CFD trading. There are no extra fees except an inactivity charge for accounts that have been dormant for 12 months. The dormant fee is $25.

Customer service

Before you strike a partnership with a broker, you also need to check how they respond to their users’ needs. Settle for a broker that values its user’s welfare and that responds to users’ needs in an accelerated and professional fashion.

DERIV has a team of professional customer support agents you can contact through phone on + 44 1942 316229. The phone support is supplemented by email and a FAQ section with all the answers to the questions that you may have about this broker and Forex trading in general.

Conclusion

If you are looking for a Forex broker with highly effective trading platforms, a large variety of assets to trade on and sufficient regulations to secure all your trading activities, then DERIV is the broker you should go for. Hopefully, you now have an idea of what a reliable broker should offer, in case you want to partner with several of them. Always keep in mind that a good broker will significantly improve your chances of running profitable trades, a reason why you need to settle for nothing but the best!