Deriv Forex Broker Review – Nguyễn Nhàn

Overview

Deriv, formerly known as Binary.com, is an established online trading platform providing forex, CFDs, and binary options. Founded in 1999, the company rebranded as Deriv in 2020 to better reflect its expanded range of trading products and services. Deriv operates globally, offering a user-friendly platform for both new and experienced traders. Known for its innovative approach and diverse range of financial instruments, Deriv aims to provide a secure and flexible trading environment.

Pros and Cons

Pros:

Regulation and Safety: Deriv is regulated by multiple financial authorities, including the Malta Financial Services Authority (MFSA) and the Labuan Financial Services Authority (LFSA). These regulations ensure that Deriv operates in compliance with industry standards, offering a secure trading environment.
Innovative Trading Platforms: Deriv offers proprietary trading platforms, such as DTrader and DMT5, in addition to MetaTrader 5 (MT5). These platforms provide a range of trading tools, including advanced charting, technical indicators, and automated trading features.
Diverse Account Types: Deriv provides various account types, including Demo, Real, and Swap-Free accounts, catering to different trading preferences and needs. This variety allows traders to choose an account that aligns with their trading style.
Wide Range of Instruments: Traders can access a broad spectrum of trading instruments, including forex, commodities, indices, cryptocurrencies, and binary options. This diversity enables traders to implement various strategies and diversify their portfolios.
Low Minimum Deposit: Deriv has a low minimum deposit requirement, making it accessible for traders with limited capital. This low barrier to entry allows new traders to start trading with minimal initial investment.
Educational Resources: Deriv offers a range of educational materials, including tutorials, webinars, and trading guides. These resources help traders improve their skills and stay informed about market trends.
Customer Support: Deriv provides 24/7 customer support through live chat, email, and phone. The availability of multilingual support ensures that traders can receive assistance in their preferred language.
Flexible Leverage: Deriv offers flexible leverage options, allowing traders to choose the level of leverage that suits their risk tolerance and trading strategy. This flexibility can enhance trading opportunities and potential returns.

Cons:

Limited Regulation: While Deriv is regulated by several financial authorities, its regulatory oversight is not as extensive as some other brokers. Traders should consider the regulatory environment when choosing a broker.
High Spread on Some Instruments: Although Deriv offers competitive spreads, some trading instruments may have higher spreads compared to other brokers. This can affect the overall trading costs for certain instruments.
No Support for MetaTrader 4 (MT4): Deriv does not support MetaTrader 4 (MT4), which is a popular platform among traders. This may be a drawback for those who prefer MT4 over other trading platforms.
Limited Research Tools: Deriv’s research tools and market analysis features are less comprehensive compared to some other brokers. Traders seeking in-depth research and analysis may find this aspect lacking.

Is it Safe to Trade with This Broker?

Deriv has established itself as a reputable broker with several measures in place to ensure a safe trading environment:

Regulation: Deriv is regulated by financial authorities such as the Malta Financial Services Authority (MFSA) and the Labuan Financial Services Authority (LFSA). These regulations ensure that Deriv adheres to industry standards and provides a secure trading environment.
Client Fund Protection: Deriv segregates client funds from its own operational funds. This segregation ensures that client money is protected and available even if the broker faces financial difficulties.
Security Measures: The broker employs SSL encryption technology to secure data transmitted between traders and the trading platform. This encryption protects sensitive information, including personal and financial details.
Two-Factor Authentication (2FA): Deriv offers two-factor authentication to enhance account security. This additional layer of security requires traders to provide a second form of authentication, such as a code sent to their mobile device, in addition to their password.

Overall, Deriv’s regulatory oversight and security measures contribute to a safe trading environment. Traders should always conduct their own due diligence and consider the broker’s regulatory status and security measures before opening an account.

Regulations

Deriv operates under the oversight of several financial authorities:

Malta Financial Services Authority (MFSA): Regulates Deriv under license number IS/70156. The MFSA is known for its stringent regulatory standards and provides oversight to ensure compliance with financial regulations.
Labuan Financial Services Authority (LFSA): Regulates Deriv under license number MB/18/0026. The LFSA ensures that brokers adhere to local regulations and provides additional regulatory oversight.
Vanuatu Financial Services Commission (VFSC): Regulates Deriv under license number 15084. The VFSC provides regulatory oversight for financial services in Vanuatu, ensuring compliance with industry standards.

While Deriv is regulated by reputable authorities, its regulatory coverage is not as extensive as some other brokers with global regulatory licenses. Traders should consider the broker’s regulatory environment and ensure it meets their requirements.

Trading Instruments

Deriv offers a wide range of trading instruments, catering to different trading preferences and strategies:

Forex: Deriv provides access to a variety of currency pairs, including major pairs (e.g., EUR/USD, GBP/USD), minor pairs, and exotic pairs. Forex trading allows traders to participate in the global currency market and benefit from price fluctuations.
Commodities: Traders can trade commodities such as precious metals (gold, silver) and energy products (oil, natural gas). Commodities trading offers opportunities to profit from the price movements of physical assets.
Indices: Deriv offers trading in major global indices, including the S&P 500, NASDAQ, and FTSE 100. Index trading provides exposure to a broad range of stocks and sectors through a single instrument.
Cryptocurrencies: Deriv provides access to popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Cryptocurrency trading allows traders to participate in the digital asset market and capitalize on price volatility.
Binary Options: Deriv offers binary options trading, allowing traders to speculate on the price movement of various assets. Binary options provide a fixed payout based on the outcome of a trade.

How to Trade with Deriv

Trading with Deriv involves the following steps:

Open an Account: Begin by opening an account with Deriv. Complete the online registration form with your personal and financial information. You will need to provide details about your trading experience and financial situation.
Deposit Funds: After opening an account, deposit funds using one of the available methods, including bank transfers, credit/debit cards, or e-wallets. Deriv supports a variety of deposit methods to accommodate different preferences.
Download Trading Platform: Deriv offers proprietary platforms such as DTrader and DMT5, as well as MetaTrader 5 (MT5). Download and install the platform of your choice and log in using your account credentials.
Analyze Markets: Use the trading platform’s analysis tools to evaluate market conditions and identify trading opportunities. Deriv provides technical analysis tools, market news, and trading guides to support your trading decisions.
Place Trades: Execute trades based on your analysis and trading strategy. The trading platform allows you to place market orders, limit orders, stop orders, and other types of trades.
Monitor Positions: Track your open positions and market conditions. Adjust your trading strategy as needed based on market developments and your trading goals.
Manage Risk: Implement risk management strategies to protect your trading capital. Use stop-loss orders, take-profit orders, and other risk management tools available on the trading platform.
Withdraw Funds: When you decide to withdraw funds, request a withdrawal through your trading account. Deriv supports various withdrawal methods, and processing times may vary depending on the method used.

How to Open an Account

Opening an account with Deriv involves the following steps:

Begin Registering Here

Visit the Deriv Website: Go to the official Deriv website and click on the “Sign Up” button.
Choose Account Type: Select the type of account you wish to open. Deriv offers different account types, including Demo, Real, and Swap-Free accounts.
Complete Registration: Fill out the online registration form with your personal details, such as your name, address, email, and phone number. You will also need to provide information about your financial situation and trading experience.
Verify Identity: Submit the required identity verification documents, such as a government-issued ID (passport or driver’s license) and proof of address (utility bill or bank statement). These documents are used to verify your identity and comply with regulatory requirements.
Fund Your Account: Once your account is verified, deposit funds using one of the available methods. Choose the method that best suits you and transfer funds to your trading account.
Start Trading: After funding your account, download and install your chosen trading platform, and log in using your account credentials. You can now start trading and take advantage of the broker’s offerings.

Analysis

Deriv provides several tools and resources for market analysis:

Technical Analysis: The proprietary platforms DTrader and DMT5 offer advanced charting tools and technical indicators for analyzing price movements. Traders can use tools such as moving averages, RSI, MACD, and more.
Fundamental Analysis: Deriv provides market news and economic calendars to help traders stay informed about global economic events and data releases. Fundamental analysis tools are essential for evaluating the impact of economic events on market prices.
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Market Reports**: Deriv offers market reports and insights to help traders understand current market conditions and trends. These reports provide valuable information for making informed trading decisions.

Customer Reviews

Customer reviews of Deriv generally highlight the following aspects:

Positive Feedback: Traders appreciate Deriv for its user-friendly trading platforms, low minimum deposit requirements, and diverse range of trading instruments. The broker’s educational resources and responsive customer support are also well-regarded.
Negative Feedback: Some traders have reported concerns about the limited research tools and high spreads on certain instruments. Additionally, the absence of MetaTrader 4 (MT4) may be a drawback for traders who prefer that platform.

Account Types

Deriv offers several account types to cater to different trading needs:

Demo Account: Provides a risk-free environment for traders to practice and familiarize themselves with the platform’s features. Demo accounts use virtual funds and allow traders to test strategies without real financial risk.
Real Account: The standard account type for live trading. Traders can access real market conditions and trade with real money. The Real Account offers a range of trading instruments and features.
Swap-Free Account: Designed for traders who cannot engage in swaps or interest-bearing transactions due to religious reasons. The Swap-Free Account provides an alternative trading option with no swap charges.

Each account type offers different features and conditions, allowing traders to choose the one that best aligns with their trading style and goals.

Security

Deriv prioritizes security to provide a safe trading environment for its clients:

SSL Encryption: Deriv uses SSL encryption technology to protect data transmitted between the trader’s device and the trading platform. This encryption ensures that sensitive information is safeguarded from unauthorized access.
Segregated Accounts: Client funds are held in segregated accounts separate from the broker’s operational funds. This segregation ensures that client money is protected and available even if the broker faces financial difficulties.
Two-Factor Authentication (2FA): Deriv offers two-factor authentication to enhance account security. This additional layer of protection requires traders to provide a second form of verification, such as a code sent to their mobile device, in addition to their password.
Regulatory Compliance: Deriv adheres to the regulatory requirements set by the financial authorities overseeing its operations. This compliance ensures that the broker operates according to industry standards and provides a secure trading environment.

Deposits and Withdrawals

Deposits:

Methods: Deriv supports a range of deposit methods, including bank transfers, credit/debit cards, and e-wallets such as PayPal, Skrill, and Neteller. This variety provides flexibility for traders to choose the method that best suits their needs.
Processing Time: Deposits are generally processed instantly to a few hours, depending on the method used. Bank transfers may take longer compared to credit/debit card deposits or e-wallet transactions.

Withdrawals:

Methods: Withdrawals can be made using the same methods available for deposits, including bank transfers, credit/debit cards, and e-wallets.
Processing Time: Withdrawal requests are usually processed within 24 hours. However, the processing time may vary depending on the withdrawal method and any additional verification requirements.
Fees: Deriv does not charge withdrawal fees. However, some payment providers may have their own fees. Traders should check with their chosen payment provider for any associated charges.

Customer Support

Deriv provides customer support through various channels:

Live Chat: Available on the Deriv website for immediate assistance. Live chat is a convenient option for resolving queries quickly and efficiently.
Email Support: Traders can reach out to Deriv’s support team via email. The support email address is available on the website.
Phone Support: Phone support is available for more direct communication. Traders can contact the support team by phone for assistance with their accounts or trading issues.

Support Hours: Customer support is available 24/7. This round-the-clock coverage ensures that traders can receive assistance at any time, regardless of their time zone.

Restricted Countries

Deriv does not accept clients from certain countries due to regulatory and compliance reasons. These restrictions are in place to ensure adherence to international sanctions and regulations. Restricted countries typically include:

United States: Due to regulatory restrictions, Deriv does not accept clients from the United States.
Iran: Deriv is unable to provide services to clients from Iran due to international sanctions.
North Korea: Due to regulatory and compliance reasons, Deriv does not accept clients from North Korea.
Other Sanctioned Countries: Deriv may also restrict clients from other countries subject to international sanctions or regulatory restrictions.

Traders should check the Deriv website or contact customer support to confirm whether their country is eligible for account opening.

Bonuses and Promotions

Deriv offers various promotions and bonuses to enhance the trading experience for its clients. These may include:

Deposit Bonuses: Deriv provides deposit bonuses, where traders receive additional funds based on their deposit amount. This bonus can be used to increase trading capital and take advantage of more trading opportunities.
Trading Contests: The broker organizes trading contests with cash prizes and other rewards. These contests offer traders the chance to compete and potentially earn additional funds based on their trading performance.
Referral Programs: Deriv may have referral programs that reward clients for referring new traders to the platform. Referral bonuses can provide additional value for clients who bring in new customers.

Traders should regularly check the Deriv website or contact support for information on current promotions and bonuses.

Conclusion

Deriv is a well-established forex and CFD broker known for its innovative trading platforms, diverse account options, and wide range of trading instruments. The broker’s commitment to providing a secure and flexible trading environment makes it an attractive choice for traders seeking a reliable platform with low minimum deposit requirements and strong customer support.

While Deriv offers many benefits, including its user-friendly platforms and educational resources, there are some limitations, such as limited research tools and higher spreads on certain instruments. The absence of MetaTrader 4 (MT4) may also be a drawback for traders who prefer that platform.

Overall, Deriv provides a solid trading infrastructure with a range of features and tools to support various trading strategies and preferences. Traders looking for a broker with innovative platforms, diverse instruments, and robust security measures will find Deriv to be a suitable choice.

Frequently Asked Questions

1. Is Deriv a regulated broker?

Yes, Deriv is regulated by multiple financial authorities, including the Malta Financial Services Authority (MFSA) and the Labuan Financial Services Authority (LFSA). These regulations ensure that Deriv operates in compliance with industry standards and provides a secure trading environment.

2. What are the minimum deposit requirements?

Deriv has a low minimum deposit requirement, typically starting from $5. This low barrier to entry allows new traders to start trading with minimal initial investment.

3. Are there any withdrawal fees?

Deriv does not charge withdrawal fees. However, some payment providers may have their own fees. Traders should check with their chosen payment provider for any associated charges.

4. Can I use automated trading systems with Deriv?

Yes, Deriv supports automated trading systems and expert advisors (EAs) on its platforms, including DMT5. Traders can implement their trading strategies using automated tools available on these platforms.

5. How long does it take to open an account?

The account opening process is typically quick and can be completed within a few hours, depending on the verification process. Traders need to provide the required documents for identity verification, which may affect the overall timeframe.

6. What trading platforms are available with Deriv?

Deriv offers several trading platforms, including proprietary platforms such as DTrader and DMT5, as well as MetaTrader 5 (MT5). Each platform provides unique features and tools to cater to different trading styles and preferences.

7. How can I contact Deriv customer support?

Deriv provides customer support through live chat, email, and phone. Support is available 24/7. Traders can reach out to the support team via the contact methods provided on the Deriv website.

8. What countries are restricted from opening an account with Deriv?

Deriv does not accept clients from certain countries, including the United States, Iran, North Korea, and other countries subject to international sanctions or regulatory restrictions. Traders should check the Deriv website or contact support to confirm eligibility.

9. Does Deriv offer bonuses or promotions?

Yes, Deriv frequently offers bonuses and promotions, including deposit bonuses, trading contests, and referral programs. Traders should check the Deriv website for information on current promotions and bonuses.

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.