Deriv Review: Key Features, Pros and Cons

Deriv Review Introduction

Deriv has emerged as a leading forex broker, offering traders diverse assets to explore. It has many trading platforms that are easy for traders of all levels to use, such as Deriv MT5, Deriv Trader, SmartTrader, and Deriv Bot, among others. With a maximum leverage of 1:1000 (country dependent) and a low minimum deposit of only 5 USD, Deriv makes it easy to get started in the world of forex trading. Some trading conditions and platforms, however, may differ depending on your country of residence.

In this review, we look at the features that make Deriv stand out and show its pros and cons as a forex and multi-asset broker.

Available Trading Platforms

Deriv offers multiple high-tech trading platforms that are designed to meet the wants of traders from all over the world. With powerful tools and choices for personalization, these platforms make trading easy and full of features.

Deriv MT5

Deriv MT5 integrates the widely recognized MetaTrader 5 platform with additional analytical tools, providing traders with the ability to customize charts and layouts. It supports multiple simultaneous trade windows, which can be detached and adjusted as needed. The platform offers access to over 300 assets, including forex, stocks, cryptocurrencies, commodities, and derived indices, with ongoing expansions to its offerings.

Deriv Trader

Deriv Trader is a web-based platform that supports trading across more than 50 products. It offers a customizable interface where traders can add technical indicators, select trade types, and execute trades with position sizes starting from $0.35. Trade durations range from one second to 365 days. The platform supports several trade types with limited downside risks and variable payoffs based on contract terms.

SmartTrader

SmartTrader is an intuitive platform designed for traders who prefer simplicity. It provides quick access to essential tools for trading digital options across various markets. The platform is well-suited for those seeking a straightforward and streamlined trading experience.

Deriv Go

Deriv GO is a mobile trading app designed for on-the-go trading. It offers a user-friendly interface optimized for mobile devices and supports a wide range of products, including forex, stocks, and derived indices. With its seamless functionality, Deriv GO ensures that traders can manage their trades anytime and anywhere.

Deriv X

Deriv X is a customizable trading platform that emphasizes flexibility. It allows traders to tailor the interface to their preferences while providing access to a variety of markets. It’s ideal for users who desire a personalized trading experience, with advanced tools and features for managing trades.

Deriv Bot

Deriv Bot is a tool for automated trading that gives traders the power to trade using algorithms. Traders can create their own bots in just five steps or choose one of three available preset strategies. Deriv Bot works with 70 different assets, and its success tracker allows traders to tweak their strategies to get the best possible returns.

Deriv cTrader

Deriv cTrader is a CFD trading platform that offers inbuilt copy trading features. It provides access to over 150 financial and synthetic instruments, including forex, stocks, stock indices, commodities, cryptocurrencies, ETFs, and derived indices. The platform is designed with an intuitive interface suitable for both new and experienced traders. Additionally, Deriv cTrader supports algorithmic trading through cTrader Automate, allowing traders to develop and deploy automated trading strategies.

In short, Deriv's suite of trading platforms is suitable for traders of all skill levels and trading styles. Whether traders want advanced tools for technical analysis, choices for personalization, or automated trading solutions, Deriv's platforms offer a complete trading experience to traders of all levels.

Deriv MT5 Mobile App

Deriv MT5 is accessible on the MT5 mobile app for Android, iOS and HarmoyOS users who want to trade at any time and from anywhere. Users search for Deriv within the MT5 app and enter their Deriv MT5 credentials to start trading. This mobile app lets you trade quickly and stay in touch with the markets while on the go.

Key Features of the Deriv MT5 Mobile App

Intuitive interface: The mobile app has an easy-to-use interface that makes it easy for traders to find their way around and make trades.

• Market Analysis: The app offers several technical indicators and research tools that can help you monitor and evaluate market performance.

• Order Types: The app supports two kinds of orders: Limit and market.

• One-Click Trading: The one-click trading tool makes trading easier by letting traders place orders quickly with just one click.

• Account Monitoring: Traders can check the status of their trading accounts, see their trading history, and handle their positions right from the app.

• Built-in Indicators: The mobile app already has several technical indicators so traders can do in-depth technical analysis on the go

The Deriv MT5 mobile app makes it easy for traders to get to their trading accounts and place trades from the palm of their hand. The mobile app ensures you never miss a trading opportunity and can always keep up with the markets, whether on your way to work, on vacation, or prefer trading on your phone.

Broker Trading Markets

Deriv allows traders to trade in various asset types, giving them many opportunities to build a diversified portfolio. Here is a list of assets that can be traded:

Forex (Foreign Exchange)

Deriv provides close to 60 currency pairs, including major, minor, and exotic pairs. Major forex pairs like EUR/USD feature spreads starting from 0.5 pips, making it a competitive choice for forex traders.

Derived Indices

Deriv’s proprietary Synthetic Indices mimic real-world market movements but are unaffected by economic news and events, offering consistent and stable trading opportunities 24/7. Additionally, the platform features Basket Indices, which allow traders to speculate on grouped performance of specific currencies or commodities.

Tactical Indices

Tactical Indices are a recent addition to Deriv’s suite of offerings. These indices are designed to eliminate manual rebalancing for traders. Tactical Indices automatically adjust based on market trends, providing traders with exposure to markets in a simplified and automated manner. This feature is particularly useful for traders seeking a hands-off yet strategic approach to investing.

Stocks and Stock Indices

Traders can speculate on global stocks and indices using CFDs. This allows them to trade without physically owning the assets, providing flexibility in both rising and falling markets.

Commodities

Deriv supports trading in commodities, including precious metals like gold and silver, as well as energy products such as oil, enabling portfolio diversification.

Cryptocurrencies

Deriv offers popular cryptocurrency pairs like BTC/USD and ETH/USD as CFDs, giving traders the opportunity to capitalize on the volatility of digital assets without owning them.

Exchange-Traded Funds (ETFs)

Traders can also access ETFs through Deriv, providing exposure to a range of assets bundled into a single financial instrument.

Leverage & Spreads Information

Deriv offers competitive trading conditions to help traders optimize their strategies:

Flexible Leverage

Leverage of up to 1:1000 is available, depending on the trader’s country of residence and the specific instrument being traded. This allows traders to manage larger positions with smaller capital requirements.

Tight Spreads

Spreads on major forex pairs, such as EUR/USD, start as low as 0.5 pips. This reduces trading costs and makes Deriv a competitive choice for cost-conscious traders.

Commission and Fees

Deriv does not charge commissions on CFD contracts, keeping trading costs low. However, a variable swap fee applies to overnight positions, calculated based on the interest rate differentials of the currencies involved.

Brokers Account Types

Deriv offers a straightforward account structure that caters to a variety of trading preferences and platform choices. Here’s a breakdown of the available accounts:

Deriv Account

The Deriv Account is the standard account that provides access to the following platforms:

• Deriv Trader
• SmartTrader
• Deriv Bot
• Deriv GO

This account allows traders to engage in trading across multiple instruments and serves as the starting point for all Deriv users.

Deriv MT5 Account

Once a standard Deriv Account is created, traders can open a Deriv MT5 Account to access the MetaTrader 5 platform. The Deriv MT5 Account includes multiple sub-account types tailored to specific trading needs:

• Standard Account: A general trading account offering competitive spreads and access to various instruments.
• Financial Account: Designed for trading forex, commodities, and indices with higher leverage options.
• Financial STP Account: Provides straight-through processing (STP) for direct market access with tighter spreads and faster execution.
• Swap-Free Account: Removes overnight swap fees and interest, enabling traders to hold positions for extended periods without incurring additional costs.
• Zero Spread Account: Allows for trading with no spread costs, enabling precise and cost-effective execution of buy and sell orders.

Deriv X Account

Traders can open a Deriv X Account to trade on the Deriv X platform. This account provides access to a customizable trading interface and supports advanced features for managing trades across a variety of instruments.

cTrader Account

The cTrader Account is designed for experienced traders seeking advanced and customizable trading experiences. This platform includes built-in features like copy trading and algorithmic trading, providing flexibility and enhanced functionality.

Regulatory Oversight

Deriv is a licensed broker and adheres to strict regulations overseen by multiple regulatory bodies. Details can be found on the Deriv website.

Payment Methods

Deriv offers a variety of payment options to facilitate easy deposits and withdrawals for traders. Below is a summary of the available methods:

Credit & Debit Cards

• Supported Cards: Visa, Mastercard, Maestro
• Currencies: USD, EUR, GBP
• Deposit Limits: Minimum $10, Maximum $5,000
• Withdrawal Limits: Minimum $10, Maximum $10,000
• Processing Time: Deposits are instant; withdrawals are processed within 1 working day.

Online Banking

• Supported Methods: Various, depending on the country
• Currencies: USD, EUR, GBP, and others
• Deposit Limits: Minimum $5, Maximum $5,000
• Withdrawal Limits: Minimum $10, Maximum $10,000
• Processing Time: Both deposits and withdrawals are typically instant; some may take up to 1 working day.

E-Wallets

• Supported Providers: Skrill, Neteller, WebMoney, and others
• Currencies: USD, EUR, GBP, AUD
• Deposit Limits: Minimum $5, Maximum $10,000
• Withdrawal Limits: Minimum $5, Maximum $10,000
• Processing Time: Deposits are instant; withdrawals are processed within 1 working day.

Cryptocurrencies

• Supported Coins: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others
• Deposit Limits: Equivalent to $5 minimum
• Withdrawal Limits: Equivalent to $5 minimum
• Processing Time: Deposits and withdrawals are typically processed within 3 blockchain confirmations.

Payment Agents

• Description: Local payment agents facilitate deposits and withdrawals in various regions.
• Currencies: Varies by agent
• Limits: Determined by the payment agent
• Processing Time: Typically instant

Note: Certain deposit and withdrawal methods may be unavailable for certain regions.

Customer Service Information

Deriv's customer support is available 24/7 via live chat and in over 20 languages. On its website, the broker also has an extensive FAQ section.

You can also go to their help center, where they have compiled a complete guide on using their website. Overall, the broker's customer service is excellent. Their team quickly responds and knows how to help you with any problem.

Research Tools and Educational Resources

Deriv offers several research tools, such as a margin calculator for margin requirements, a swap calculator for rollover costs, a pip value calculator and a PnL for margin tool to estimate potential profit or loss.

Pros and Cons of Deriv as a Broker

Even with these minor disadvantages, Deriv is an excellent broker as it offers a wide range of assets, powerful platforms, compliance with regulations, and flexible trading choices that fit the needs and preferences of traders.

Deriv Broker Review Conclusion

Deriv offers a wide range of trading platforms and instruments, including forex, cryptocurrencies, stocks, commodities, synthetic indices, and Tactical Indices. Its account structure is simple, with options for advanced trading on platforms like MT5, Deriv X, and cTrader. Flexible payment methods and a low minimum deposit make it accessible, while features like swap-free and zero-spread accounts cater to diverse trading needs.

While Deriv provides competitive trading conditions, availability of features and platforms may vary by region. Traders should evaluate their specific requirements before choosing the platform.

FAQ

How do I open an account on Deriv?

Follow the below steps to open a trading account:

1. Visit the Deriv website and click on "Create free demo account".

2. Enter your email address and accept T&Cs.

3. You'll receive an email to verify your email and complete the signup.

4. Click the link in the email and verify your email.

5. This will bring you back to Deriv to enter your country of residence, citizenship and create a password.

6. Start trading with virtual funds or create a real account to make a deposit and start trading with real money.

Note: Certain trading conditions, products, and platforms are unavailable for clients in the EU. For more information, visit eu.deriv.com.