Deriv is a leading online broker that offers a wide range of financial products and services to traders worldwide. One of the key aspects that sets Deriv apart from its competitors is the variety of account types available to traders. In this review, we'll be exploring the different types of Deriv accounts and the benefits that they offer to traders.
Risk Warning: Deriv offers complex derivatives, such as options and contracts for difference (“CFDs”). These products may not be suitable for all clients, and trading them puts you at risk. Please make sure that you understand the following risks before trading Deriv products: a) you may lose some or all of the money you invest in the trade, b) if your trade involves currency conversion, exchange rates will affect your profit and loss. You should never trade with borrowed money or with money that you cannot afford to lose.
What is Deriv?
Deriv is a financial trading platform that offers a wide range of trading instruments, including forex, commodities, cryptocurrencies, and synthetic indices. The platform is owned and operated by the Deriv Group, a group of companies founded in 1999 and previously known as Binary.com.
Deriv is headquartered in Malta and has offices in other countries such as Malaysia, Japan, and the UAE. The platform is regulated by reputable financial authorities, including the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (LFSA), and the Vanuatu Financial Services Commission (VFSC).
About Deriv Mission
Deriv's mission is to make trading accessible and transparent to people all over the world. They aim to provide a reliable and secure platform that allows traders to invest in global markets with ease. Deriv's focus on technology and innovation has enabled it to offer a diverse range of financial instruments, including forex, commodities, and cryptocurrencies.
Their goal is to empower traders of all levels with the knowledge and tools they need to make informed investment decisions. Additionally, Deriv strives to maintain the highest standards of regulatory compliance, ensuring that their clients' funds are protected and that their trading activities are transparent and fair. Overall, Deriv is committed to providing an inclusive and user-friendly trading experience that empowers traders to reach their financial goals.
Trading Platform on Deriv
Deriv offers several trading platforms to cater to the needs of different types of traders. Let's explore each of them:
DTrader:
This is Deriv's proprietary web platform designed for both novice and experienced traders. It is user-friendly, customizable, and offers a wide range of trading tools and indicators. With DTrader, traders can access a wide range of financial markets, including forex, commodities, synthetic indices, and stock indices. It also supports one-click trading, making it easy for traders to execute trades quickly.
DBot:
DBot is Deriv's trading platform for automated trading. It allows traders to create and customize their own trading bots without any coding skills. DBot comes with a range of pre-built strategies, and traders can also backtest their bots using historical data to assess their performance. Once traders are satisfied with their bot's performance, they can deploy it on their live account.
DMT5:
DMT5 is Deriv's version of the popular MetaTrader 5 platform. It is designed for experienced traders who require advanced trading tools and features. With DMT5, traders can access a wide range of markets, including forex, commodities, and stocks. It also offers advanced charting tools, algorithmic trading, and a range of technical indicators.
DWeb:
DWeb is Deriv's web-based platform, which offers traders access to financial markets through their web browser. It is user-friendly and offers a range of trading tools, including one-click trading, price alerts, and multiple chart types. DWeb is compatible with all major web browsers and can be accessed from any device with an internet connection.
Account Type
Deriv is an online Forex and CFD broker that offers a range of account types to suit the needs of different traders. The account types offered by Deriv are as follows:
Standard Account:
This is the basic account type offered by Deriv. It requires a minimum deposit of $5 and offers access to all the tradable assets on the Deriv platform, including forex, commodities, cryptocurrencies, and more. The maximum leverage for this account type is 1:1000.
Advanced Account:
This account type is designed for more experienced traders and requires a minimum deposit of $100. In addition to all the features of the Standard Account, the Advanced Account offers additional benefits such as free VPS hosting, access to exclusive trading tools and analysis, and higher leverage of up to 1:2000.
Synthetic Indices Account:
This account type is designed specifically for trading on Deriv's synthetic indices, which are proprietary indices that simulate real-world markets. The Synthetic Indices Account requires a minimum deposit of $10 and offers high leverage of up to 1:1000.
DMA (Direct Market Access) Account:
This account type is designed for professional traders who require direct access to liquidity providers. The DMA Account requires a minimum deposit of $1000, and offers spreads as low as 0 pips, along with high leverage of up to 1:200.
P2P Account:
This account type is designed for traders who prefer to buy and sell cryptocurrency directly with other traders on the Deriv platform. The P2P Account requires a minimum deposit of $10, and offers access to a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Commission and Spread on Deriv
Deriv is an online Forex and CFD broker that offers a range of financial instruments for trading, including forex, cryptocurrencies, commodities, and more. Here's an overview of Deriv's commission, spread, and leverage:
Commission:
Deriv does not charge any commission on trades. Instead, they make money through the bid/ask spread.
Spread:
The spread is the difference between the bid price (the price at which you can sell) and the asking price (the price at which you can buy) of a financial instrument. Deriv offers competitive spreads on their various trading instruments. The spreads can vary depending on the account type and market conditions.
Here's a table summarizing the typical spreads for some of Deriv's most popular trading instruments:
| Instrument | Typical Spread |
|---|---|
| EUR/USD | 0.5 pips |
| USD/JPY | 0.7 pips |
| GBP/USD | 1.0 pips |
| AUD/USD | 0.6 pips |
| Gold (XAU/USD) | 35 cents |
| Bitcoin (BTC/USD) | $16.00 |
Leverage:
Deriv offers high leverage on its various trading instruments. The maximum leverage offered by Deriv is 1:2000, but the actual leverage available to you may vary depending on your account type and the financial instrument you're trading. It's important to note that while leverage can magnify your profits, it can also magnify your losses, so it's important to use leverage carefully and always use appropriate risk management strategies.
Here's a table summarizing the maximum leverage available for some of Deriv's most popular trading instruments:
| Instrument | Maximum Leverage |
|---|---|
| Major forex pairs | 1:1000 |
| Minor forex pairs | 1:500 |
| Gold (XAU/USD) | 1:100 |
| Crude Oil (WTI) | 1:100 |
| Bitcoin (BTC/USD) | 1:100 |
| Ethereum (ETH/USD) | 1:50 |
Overall, Deriv offers competitive spreads and high leverage, which can be attractive to traders looking to maximize their trading potential. However, it's important to remember that trading always involves risks, and it's important to have a solid understanding of the markets and appropriate risk management strategies in place.
Opening Account on Deriv
Opening an account on Deriv is a straightforward process that can be completed in a few simple steps. Here's how you can open an account on Deriv:
-
Go to the Deriv website:
Navigate to the Deriv website (www.deriv.com) and click on the “Sign Up” button located in the top right corner of the screen. - Choose an account type:
Deriv offers various account types, including Standard, Advanced, and Synthetic. Choose the account type that best suits your needs and click on the “Create free account” button. - Provide personal information:
Fill out the registration form with your personal information, including your full name, email address, phone number, and date of birth. - Set up account details:
Choose a password for your account and select your preferred currency. - Verify your email:
Deriv will send a verification email to the email address you provided during registration. Click on the verification link in the email to verify your account. - Complete KYC verification:
To complete your account setup, you will need to submit proof of identity and address documents for KYC (Know Your Customer) verification purposes. You can upload the required documents directly through the Deriv website or mobile app. - Fund your account:
Once your account is verified, you can fund it using one of the many available deposit methods.
That's it! Once your account is funded, you can start trading on Deriv's platform. It's important to note that before trading, you should carefully review Deriv's trading terms and conditions, risk management policies, and other relevant information.
Countries
Deriv is a global online Forex and CFD broker that offers trading services to clients from many countries around the world. However, there are certain countries where Deriv is not authorized to offer its services due to regulatory restrictions or other legal reasons. The list of countries where Deriv does not accept clients is subject to change and may be updated periodically.
Deriv did not accept clients from the following countries:
- Afghanistan
- Botswana
- Cambodia
- Ghana
- Japan
- Laos
- Libya
- Mali
- Mauritius
- Myanmar
- North Korea
- Seychelles
- Somalia
- Sudan
- Syria
- Yemen
- United States of America
It's important to note that this list is subject to change, and interested traders should check Deriv's website or contact their customer support team to confirm whether they are able to provide services in their country of residence.
Education Demo Account
A demo account on Deriv is a trading account that is designed to allow traders to practice trading financial instruments without risking any real money. It is a simulated trading account that provides users with virtual funds to trade with, enabling them to test out different trading strategies, learn how to use the trading platform and familiarize themselves with the markets.
Deriv's demo account is free to use and provides access to all of the features and tools that are available in a live trading account. Traders can experiment with different assets, such as Forex, commodities, indices, and cryptocurrencies, and try out various trading strategies in a risk-free environment.
The demo account is also a great way for new traders to gain experience and confidence in their trading skills before they start trading with real money. It allows them to learn how to manage their risk and develop a solid trading plan, which is crucial for success in the financial markets.
Deriv's demo account is an excellent tool for traders of all levels to improve their trading skills and to test out different trading strategies without risking any real money.
Conclusion
In conclusion, Deriv is a reputable and reliable Forex broker that offers a range of trading instruments, educational resources, and advanced trading tools to its clients. With its user-friendly trading platform and competitive pricing, it is an excellent choice for both novice and experienced traders.
Deriv also provides its clients with a range of educational resources, including webinars, tutorials, and trading guides, to help them improve their trading skills and stay up-to-date with the latest market developments.
Overall, Deriv is a top-rated Forex broker that is dedicated to providing its clients with a comprehensive and reliable trading experience. With its advanced trading platform, competitive pricing, and commitment to customer satisfaction, it is a great choice for traders looking for a trustworthy and reliable broker.
FAQ's
What is Deriv?
Deriv is an online trading platform that provides traders with access to a wide range of financial markets, including Forex, commodities, indices, and cryptocurrencies. It offers a range of advanced trading tools, educational resources, and a user-friendly trading platform.
Is Deriv a regulated broker?
Yes, Deriv is regulated by the International Financial Services Commission (IFSC) in Belize, which ensures that the broker adheres to strict regulatory guidelines.
Does Deriv offer a demo account?
Yes, Deriv offers a demo account that allows traders to practice trading with virtual funds in a risk-free environment. The demo account provides access to all of the features and tools that are available in a live trading account.
What trading instruments are available on Deriv?
Deriv offers a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies. Traders can choose from over 100 different financial assets to trade on the platform.
What trading platforms does Deriv offer?
Deriv offers two trading platforms: DMT5 and SmartTrader. DMT5 is a powerful trading platform that is designed for advanced traders, while SmartTrader is a user-friendly platform that is suitable for novice traders.
Risk warning: Deriv offers complex derivatives, such as options and contracts for difference (“CFDs”). These products may not be suitable for all clients, and trading them puts you at risk. Please make sure that you understand the following risks before trading Deriv products: a) you may lose some or all of the money you invest in the trade, b) if your trade involves currency conversion, exchange rates will affect your profit and loss. You should never trade with borrowed money or with money that you cannot afford to lose.
