Deriv.com is a new and improved brokerage platform developed and backed by Binary.com, which has been serving retail clients for over 20 years. With an expanded product range, an enhanced user experience, and a new logo, the platform offers CFDs, binary options, and forex trading via three trading platforms and an automated trading system. The company has over 2.5 million traders on its books, with a total trading turnover of $10+ billion, and it is regulated in multiple trading jurisdictions, including Malta, Labuan, Vanuatu, and the British Virgin Islands. In this article, we will provide a comprehensive review of Deriv, including its trading platforms, assets, spreads, commissions, leverage, mobile app, and payment methods.
Trading Platforms
Deriv.com offers three trading platforms: DMT5, DTrader, and DBot.
DMT5: This platform integrates MT5 and the related analysis and research tools, making it easy to use but feature-rich. Traders can set up charts or trade areas as they wish, and multiple trade windows can be open at once, or specific windows can be detached and moved around as required. The platform boasts over 70 assets, and flexible leverage up to 1:1000 is also available, as well as a range of trade sizes, from micro-lots up to 30 standard lots.
DTrader: This customizable platform offers a clean interface and over 50 tradable assets. Charts can be tailored to meet trader needs with technical indicators and widgets. Trade types can also be customized, with position sizes of just $0.35 and flexible trade duration between one second and 365 days available. Potential payouts also exceed 100%.
DBot: This automated trading offering is one of the market leaders. The DBot platform offers a straightforward path to getting set-up using algorithmic investing. 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 maximize returns.
Assets & Markets
Over 100 CFDs are available at Deriv.com spanning forex, stock indices, synthetic indices, commodities, and cryptocurrencies. Forex options allow traders to profit from correctly predicting price movements without owning the underlying asset, while multipliers let users trade on leverage to increase positions, often taking several positions to enhance potential returns. Traders also cannot lose more than their initial deposit, limiting potential risk. Deriv.com promises tight spreads from 0.5 pips on major forex pairs like the EUR/USD.
Spreads & Commissions
There are no commission charges, and the firm does not have deposit/withdrawal fees or inactivity penalties. Binary.com also had a strong reputation for competitive spreads and a transparent fee structure.
Leverage
Deriv offers flexible leverage up to 1:1000. This allows users to take larger position sizes by putting down a small deposit, known as margin, to increase potential returns. Margin requirements and leverage levels vary depending on the account and jurisdiction you register an account from. In the EU, for example, regulations limit the leverage retail traders can use on major currency pairs to 1:30.
Mobile App
Account holders can trade on the DMT5 mobile app, which is free to download to Android and iOS devices. The investing app offers a string of useful tools, from Market Depth, instant and pending order types, plus netting and hedging modes. One-click trading is also available on the mobile app, along with built-in indicators and analysis tools. In addition, users can monitor their account.
Customer Support & Education
Deriv.com offers a comprehensive education center, covering trading strategies, risk management, market analysis, and more.
The resources are suitable for all levels of traders, from beginner to advanced, and are free to use. Traders can learn through webinars, video tutorials, and e-books.
The company also offers customer support 24/7. There is a live chat feature, email support, and a phone line available to answer any queries.
Deriv Review: Pros and Cons
Pros:
- Multiple trading platforms to choose from, including an MT5 terminal, web-based platform, and an automated trading system.
- A wide range of asset classes are available, including forex, stock indices, commodities, and cryptocurrencies.
- Tight spreads from 0.5 pips on major forex pairs with no commission charges.
- Flexible leverage up to 1:1000, depending on account and jurisdiction.
- No deposit/withdrawal fees or inactivity penalties.
- Comprehensive education center, covering all levels of traders.
- Customer support available 24/7 via live chat, email, and phone.
Cons:
- Limited regulation in some jurisdictions, which could lead to potential risks for traders.
- The platform’s focus on CFDs and binary options could mean that it is less suitable for long-term investors.
- The platform does not offer a social trading feature, which is a popular feature among traders.
- Some traders may find the platform’s range of assets limited compared to other brokers.
Final Thoughts
Deriv.com is a reputable online brokerage with a wide range of trading platforms and asset classes available. Its focus on CFDs and binary options could make it less suitable for long-term investors, but it offers an excellent opportunity for traders looking for short-term investments.
The platform’s low spreads, flexible leverage, and no commission charges make it an attractive option for traders of all levels. Additionally, the comprehensive education center and 24/7 customer support make it an excellent choice for beginners looking to learn more about trading.
