Deriv review

Deriv is an international broker with millions of registered users worldwide, offering CFDs on Forex, indices, cryptos, and commodities. However, numerous online platforms rate them poorly, and client reviews are predominantly negative. Users report significant difficulties in withdrawing funds, which raises a major red flag. Surprisingly, despite being established in the 2019s, the broker has failed to provide satisfactory trading conditions. To provide a comprehensive review, let's delve deeper into Deriv's services and conditions. The broker is regulated by the Labuan Financial Services Authority, the Vanuatu Financial Services Commission, and the British Virgin Islands Financial Services Commission. It's important to note that these offshore regulators offer less protection compared to more reputable authorities. Deriv utilizes segregated bank accounts and participates in the investor compensation fund. While deposits are instant, withdrawals may take up to 1 working day, although the website does not clearly indicate the associated fees. Crypto withdrawals undergo internal checks before approval. Payment methods include wire transfers, bank cards, online payment methods, Deriv's P2P payment system, and cryptos. Given the numerous withdrawal complaints, we contacted support for clarification. It is essential to use the same payment method for both deposits and withdrawals. If the chosen payment method for deposits is unavailable for withdrawals, issues may arise, leading to delayed payments. This crucial information should be known by any potential Deriv client before opening a live account with this broker.

COUNTRIES

Afghanistan, Albania, Algeria, Andorra

+156 more

REGULATIONS

FSA Labuan, FSC of BVI, VFSC

ACCOUNT CURRENCIES

AUD, EUR, GBP, USD

ASSETS

CFDs on Stocks, Crypto CFDs, ETFs, Energies, Options, Precious metals, Synthetic Indices, Volatility 75 Index

PLATFORMS

MT5, Custom

DEPOSIT METHODS

Bank Transfer, Credit Card, Crypto, E-wallets, PayTrust88

OTHERS

Segregated accounts, Copy trading, Demo account, Exotic Pairs, Expert Advisors, Fast withdrawals, High leverage, Lowest minimum deposit, Micro Lots, Negative balance protection, Part of compensation scheme, Swap-free

PROMOS

visit broker

Finding information about Deriv account types was incredibly challenging. After reaching out to support and waiting for around 30 minutes, we received limited details. The only way to view the accounts is by registering a demo account, which makes comparing them difficult. The provided information only includes account names, leverages, and trading instruments. Despite the support team's effort to assist, it's crucial for the broker to clearly present all details on their website to avoid constant inquiries.

Deriv offers three account types: Derived, Financial, and Deriv X. All three accounts have a maximum leverage of 1:1000. Derived and Financial accounts use MT5 as the trading platform, while Deriv X offers a proprietary platform called Deriv X. Additionally, Deriv provides automated trading bots such as Deriv Bot and Binary Bot. Deriv platforms support trading in Forex pairs, options, and CFDs. Options trading is available specifically on the Deriv X platform, while CFDs can be traded on MT5, offering a diverse range of instruments including Forex, stock CFDs, indices, commodities, and cryptos. For traders on the move, Deriv Go is a mobile trading app offered by the broker.

There are several reasons why you should reconsider choosing Deriv as your trading broker. Firstly, there is a lack of clear information about trading accounts, minimum deposits, and other crucial details. Additionally, the absence of transparent transaction costs for withdrawals and the overall negative evaluation from traders are concerning factors. While we don't label the broker as a scam, there is significant room for improvement.

FAQS ABOUT DERIV

Can I trade Forex using Deriv?

Deriv offers Forex currency pairs on their trading platforms. Forex can be traded on both desktop and mobile apps and all major and number of exotic pairs are offered. However, it is difficult to find exact details on the broker’s website about trading platforms.

Can you trade with 1 dollar on Deriv?

Deriv does not provide clear information about their required minimum initial deposit. It is best to avoid this broker as there are several red flags about them.

In which countries is Deriv banned?

Deriv has licenses in several jurisdictions as a result the broker is not allowed to offer its services to other jurisdictions including the USA, England, Australia, Japan, and other countries. Avoid this broker.