Deriv is a new brand of respected broker Binary.com. Binary.com started in 1999 as Regent Markets and kept on evolving with time. After years of continuous evolution and with over 1 million traders in more than 100 countries, Binary.com was rebranded as Deriv.com in 2021.
Deriv.com is designed and developed on the state of art trading systems providing the traders with greater usability and technical as well as analytical assistance. This review will provide you with enough insight into the brokerage and help you make a decision about trying out the platform.
The biggest and most powerful advantage Deriv has over the competition is its long history. The platform has been in the market for over 21 years and has been through constant upgradations and rebrandings which enhanced its services and features making it a frontrunner in the market.
This journey of more than two decades of customer satisfaction and professional advancement has been possible with the help of the team behind it. The professional and technical minds of the industry are led by Chief Executive Officer Jean-Yves Sireau, who is also the founder of the brokerage, got multiple patents in his name in the field of financial systems. The fact that the patent holder is the leader of the team behind the platform is evident in the technical expertise of Deriv.com.
Deriv.com offers multiple financial products to its clients including Forex and binary options, CFD spreads, commodities, and crypto assets.
There are 3 unique accounts offered to the traders when they register on Deriv.com. Users opt DTrader, DBot, or SmartTrader according to their trading expertise and needs.
In addition to Deriv’s in-house trading software, the renowned MT5 trading platform is integrated into Deriv’s DMT5 platform which enhances user experience by allowing them to configure the trading as per their preferences.
On DMT5, there are also 3 account types to choose from; Synthetic, Financial, and Financial STP. The facility of accessing and adjusting the multiple windows, charts, and trading history is very enabling for the traders.
As of now, Deriv is licensed and operational in more than 100 countries in and outside Europe. However, some services of Deriv.com are not yet available in more famous jurisdictions like the US, Hong Kong, UAE, Canada, Israel, France, and Malaysia. Currently, Deriv is licensed and registered with MFSA Malta, Vanuatu FSC, Labuan FSA, and the British Virgin Islands FSC.
Deriv’s registration with popular regulatory agencies such as the Financial Conduct Authority (FCA) UK, the Cyprus Securities and Exchange Commission and the Australian Securities, and Investments Commission is pending. Once the registration with these regulatory authorities is finalized, the service of Deriv.com will be available in even more countries.
Deriv.com Broker Review
Deriv.com South Africa offers some unique and useful features to the traders which make them competitive among the competition. The mix of their own developed trading features and MT5 platform tools make it a lethal force for trading. But before discussing the account types and features offered by Deriv, let us discuss their Demo account which is offered to every new user on the trading platform.
Most new online trading platform users are new to trading and they need to build their trading skills and try their luck before starting with real money. Online trading is a complex job and can be extremely risky if the traders are not being careful or don’t know exactly what and when to make decisions.
That is why Deriv.com offers a practice demo account so that the new traders learn how to use all the tools available and measure their risk appetite. Online trading can be described as an art. It involves using the right tools in the right mix at the right time to get the desired results.
To learn how to do that, it is our recommendation to the new traders to learn as much as they can before starting with a real account. Users get $10000 in their demo account to try their trading skills.
In the demo account, the traders use all the tools and features without fear, making them familiar with how all the tools work.
Any profits earned on the Demo account cannot be withdrawn obviously.
After familiarizing themselves with how trading works, the traders can choose to trade on DTrader, DBot, or SmartTrader trading platform. On DTrader, traders offer more than 50 trading options with a stake as low as $0.35 and payout as much as 200%. Trading operation is also much simple that the beginners and professional traders can use them with equal ease. The users just need to select the asset type from the Forex, Stock Indices, commodities, and synthetic indices.
The second step is to follow the chart and analyze the rise and fall pattern and choose the purchase as option. Deriv can purchase three types of options on DTraders In Up/Down opinion, the trader can decide whether the price of the selected commodity will rise above the selected level or fall below it. Whereas, in the conventional High/Low opinion, there are two different options available to purchase. One is the obvious higher/lower and the other is Touch/No Touch. In the touch/no-touch option, you win the purchase if the price follows your decision and touches the selected level or not according to your opinion.
Another account is DBot, which is the automated trading bot based on your selected perimeters. The Bot can be configured by following some easy steps. In the first step, you need to select your asset from the same list as the DTrader. Then by selecting the purchase conditions and sell conditions along with restart trading conditions. After completing all the settings of Bot; the Bot is ready to be run and traders just need to run the bot and check profits. If you are not interested in the DBot you can check other free binary options signals software.
There is a number of strategies that can be adopted by newer traders. Some popular Bot strategies are Martingale, Oscar’s Grind, D’Alembert, Cutler’s RSI, SMA Crossover, and Bollinger Bands. Traders can load these strategies and customize them according to their preferences.
Other smart analysis tools and indicators can be used to stop-loss or take-profit.
The third and most comprehensive account is SmartTrader which is developed on the Binary.com’s trusted platform. The SmartTrader is just another account as DTrader but with different variables and controls. In addition to Rise/ Fall and Higher/ Lower opinions, the Smart Trader offers In/ Out options with two separate options. End Between/ End Outside options can be won by selecting options which exists strictly between the selected ranges. Another option in this category is Stays Between/ Goes Outside.
On Deriv account these three unique accounts are offered primarily to the trader, however, if any trader wants to trade by using the tools developed by Metatrader5, Deriv offers DMT5 account which can be created in no time.
In the DMT5 account, there are also three accounts offered to traders. The first type of account on DMT5 is a Financial account in which commodities, cryptocurrencies, and currency pairs are offered with high leverage and variable spreads. Financial STP is an account that is totally A Book account.
The third account based on the MT5 platform is a Synthetic account on which you can trader contracts for differences (CFDs) on the synthetic indices. The synthetic indices mimic the real markets’ movements and are available for trading 24/7.
Deriv Trading Platform
As comprehensively reviewed in the previous section of the review, there are two distinct trading software behind the Deriv.com. Binary.com was established in 2013 and won many awards over a period of 7 years and the same software used for Binary.com is used to develop the Deriv trading software.
All three accounts on the Deriv’s default platform are available to all the registered traders in South Africa. The complete functionality of these accounts is also available in the demo account.
Other than Deriv’s in-house software, DMT5 trading software is also offered to traders who want to experience the MetaTrader5 Trading tools. The professional and seasoned traders usually rely on the MT5 trading platform for insights and analysis of the market along with the brokers’ platform.
The user reviews suggest that both of these software used by the Deriv are highly advanced and user-friendly making Deriv an ultimate choice for the traders who want to experience diversity as well as in-house expertise. Deriv.com traders can take advantage of Deriv platform and build their own Deriv.com robot for trading.
Deriv, being a popular player in the online trading market for the last two decades, is experienced enough to satisfy the traders. The support team provides the users with a number of options to find the help they seek. The primary and most useful help method on the Deriv is a help page on the main support page.
It is basically a categorized form of the queries which are answered by the technical team of the platform. These questions are divided into categories for the traders to navigate the related problem easily. Although the support team did a pretty impressive job compiling all these questions, there are still going to be some issues other than those mentioned in the list.
Deriv Customer Support South Africa
To address the queries and problems not mentioned on the “How can we help” page, the Deriv South Africa support team can be contacted through helpline and e-mail.
The platform’s official helpline is accessible 24 hours a day from Mondays to Fridays and from 08:00 to 17:00 (GMT +8) over the weekends. If there is a legal matter or complaint you want to lodge to the platform, we recommend you to use the conventional way, known as e-mail, to bring the matter in the writing.
It may take some time to get the reply via email (up to one working day) at [email protected] to get the response but this will be official and can be used legally to settle disputes.
One important support feature Deriv.com in South Africa lacks is the live chat. When you offer the top services to the users, you set the bar high for yourself.
Maintaining that level is what makes you competitive in this highly saturated market but not offering the live option is like deliberately staying behind in this particular area.
If you are not finding the solution to the problems you are facing by using any of the options mentioned here or if your issue is related to any particular are, then you can also contact Deriv’s offices in Malta, Dubai, Labuan, Malaysia, and Paraguay.
Deriv Minimum Deposit
The deposit and withdrawal with Deriv.com in South Africa are easy and reviews show that the traders usually don’t face many issues in this regard.
The minimum amount to deposit into Deriv account is usually 10 ($5 in case of bank wire) however there is no minimum limit when you are depositing through cryptocurrency. There are plenty of options you can use to deposit money into the Deriv account. The most common methods used by the trader are Bank wire (Bank transfer, Help2Pay, Paytrust), E-Wallets (Skrill, FasaPay), Debit/ Credit cards (MasterCard, Visa) and cryptocurrencies (Bitcoin, Litecoin, Ethereum).
In order to withdraw your money from the Deriv account, you need to submit a withdrawal request which can take one day to process. Remember that you can withdraw your funds by using the same method that you used for deposits.
There is no extra fee charged on deposit or withdrawal by the brokerage. However, the platform does charge a dormant fee if your account remains idle for up to 12 consecutive months.
The competition in the online trading market is getting fierce with every passing day and it is getting harder to remain in the race because of the technological advancements and the facilities provided by the big players. Undoubtedly, Deriv.com does have what it take to become relevant in the market.
Although the name Deriv itself is new in the trading arena, it is backed by a long history of technical and customer service. So, if you are about to start your career as an online trader or are fed-up with the lack of innovation by your current broker, Deriv.com is a good place to start, or re-start, your journey.