Deriv Review 2024: Is Deriv a Trustworthy Broker? 🔍

In my thorough review of Deriv, I found the broker to be highly trustworthy and reliable. It is regulated by several authorities across different jurisdictions, adding to its credibility. Deriv boasts an impressive trust score of 90 out of 99 and holds a 4-star rating on Trustpilot.

I have used Deriv broker since 2016 when it was called binary.com and I have witnessed its transition to Deriv first-hand. In this comprehensive Deriv review, I offer a personal in-depth analysis of the broker, highlighting its pros and cons.

I have extensively explored its key features, trading conditions, customer support, and overall user experience to help you make an informed decision about choosing Deriv as your trading partner.

Rating: ★★★★☆

What Is Deriv?

Deriv Broker is an online trading platform that offers a wide range of financial instruments for trading, including forex, commodities, cryptocurrencies, and synthetic indices.

The broker has over 20 years of experience and offers some of the most innovative services on the forex market through its proprietary trading platforms like Deriv X, Deriv EZ and Deriv Go. The broker boasts over 3 million clients from all over the world making it truly a global firm

Deriv At A Glance

🔍 Broker's Name	Deriv Formely (Binary.com)
🌐 Website	www.deriv.com
📅 Year Founded	1999
⚖ Regulating Authorities	MFSA, LFSA, VFSC and BVIFSC
💳Minimum deposit	$5
🎮 Demo Account	✔ Yes
🏢 Institutional Accounts	✔ Yes
🔁 Copytrading	✔ Yes
☪ Islamic Accounts (Swap-free)	✔ Yes
🏋️‍♂️ Maximum Leverage	1:1 000.
💳 Deposit & Withdrawal Options	Bank wire transfer, Visa and Mastercard. E-wallets like Skrill, Neteller, PaySafe, Fasapay, WebMoney. Cryptocurrencies like Bitcoin, Ethereum, Litecoin and Tether. Payment agents, Dp2p (over 60 payment methods accepted)
📱 Platform Types	DMT5, DTrader, DBot, Deriv X, Deriv Go, Deriv cTrader, Deriv EZ
💻 OS Compatibility	Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
📈 Tradable assets offered	– 50+ forex currency pairs (majors, minors, and exotics) – major US, Asian, and European stock indices – unique synthetic indices (available 24/7). – Commodities like precious metals (gold and silver), energies (oil), – cryptocurrencies – ETF's
🗣 Customer Support Languages	20 different languages
🗣 Customer Service Hours	24/7
🚀Open an account	👉 Click Here

Is Deriv a regulated broker?

Yes, Deriv is a legit, regulated and trustworthy broker. Deriv is regulated by several reputable financial authorities, including the MFSA (Malta), LFSA (Malaysia), BVI FSC (British Virgin Islands), and VFSC (Vanuatu).

Broker regulation is important because it shows that the broker adheres to strict operational guidelines that ensure it does not scam its clients. 

Where is Deriv Broker Located?

Deriv (SVG) LLC is located in Hinds Buildings, Kingstown, St. Vincent and the Grenadines (company no. 273 LLC 2020). This Deriv broker review found that the broker also has offices in Dubai (UAE), Malta, Cyprus, Malaysia (3), France, Channel Islands, Paraguay, Rwanda and Belarus.

I have interacted with some of the staff from their Rwanda office.

Deriv Account Types

My Deriv review found that the broker offers three different account types that give access to different trading instruments and features. These are:

• Derived MT5 (DMT5)
• Financial
• Swap-Free

Deriv Derived Account

🔍 Account Features	🧾 Deriv Synthetic Account (Derived Account)
Leverage	1:1000
Margin call	100%
Stop out level	50%
Minimum deposit	$5
Commissions	None
Platforms	Deriv MT5, Deriv X, Deriv EZ, Deriv cTrader
Open Derived Account	👉 Click Here

The Deriv Derived account (also known as Deriv Synthetic indices account) allows CFD trading on various markets like Forex, Derived indices, Stocks & indices, Cryptocurrencies and Commodities.

 The account is mostly used to trade synthetic indices (Derived indices) like boom and crash, volatility indices, and jump indices. 

Synthetic indices are designed to mimic the movement of real-world assets but are unaffected by real-world events such as news, economic releases, and others.

The Derived account from Deriv allows 24/7 trading even during the holidays. The account offers a variety of volatility levels to choose from, bringing so much convenience to traders.

Deriv Financial Account

🔍 Account Features	🧾 Deriv Financial Account (Deriv Standard Account)
Leverage	1:1000
Number of assets	170+
Margin call	100%
Stop out level	50%
Minimum deposit	$5
Commissions	None
Platforms	Deriv MT5, Deriv X, Deriv EZ
Open Derived Account	👉 Click Here

The Deriv financial account allows CFD trading on major and minor forex pairs, stocks, commodities and cryptocurrencies, with leverage of up to 1:1000.

The account offers Straight-Through-Processing (STP) execution with tight spreads.

Deriv Swap-Free Account

🔍 Account Features	🧾 Deriv Swap-Free Account
Leverage	1:1000
Number of assets	170+
Margin call	100%
Stop out level	50%
Minimum deposit	$5
Commissions	None
Platforms	Deriv MT5, Deriv X, D Trader, SmartTrader
Open Swap-Free Account	👉 Click Here

The Deriv swap-free account is a type of trading account that allows you to trade on forex, indices, commodities, and cryptocurrencies without paying any overnight interest fees.

This makes it a good choice for traders who follow Islamic principles, as well as traders who simply want to avoid paying overnight fees.

Deriv swap-free accounts are available on all of the broker's trading platforms, including DTrader, SmartTrader, and DMT5.

The spreads and commissions on swap-free accounts are generally slightly higher than on standard accounts, but this is to offset the cost of the broker providing swap-free trading.

In addition, Deriv also offers the cTrader account (for copy trading) and the Deriv X account.

This in-depth guide compares the different Deriv accounts.

In addition, Deriv offers a Demo account for each of these accounts for free to help beginners trade and test out the account features.

You can get instructions on how to open a Deriv demo account or read an in-depth review of Deriv account types.

How To Open A Deriv Live Account Step-By-Step

This Deriv review found that opening a Deriv live account is a simple process that takes less than 5 minutes. Simply follow the instructions below.

1. Go to the Deriv website here and click on the Open Demo Account button.
   
   
2. Enter your email address, agree to the terms and conditions and click on ‘Create Account‘.
3. Verify your email address by clicking on the link in the email that Deriv sends you and create a password.
   
4. Once your email address is verified, you will be logged into your Deriv demo account with $ 10,000 in virtual funds that you can use to play around.

After opening the demo account you can then proceed to open the Deriv real account type you want.

Click on the (1) ”Trader's Hub option” on the top left of your dashboard. Then click (2) ‘Real‘ > (3) ‘CFD's‘. You can then choose the real Deriv account type you want to create from the options. Click ‘Get‘ and choose a jurisdiction for your Deriv mt5 derived account.

Deriv Account Verification

Deriv account verification is straightforward. Simply upload your proof of identity and proof of residence documents. You can read a detailed guide on how to verify your account.

Deriv Minimum Deposit

Deriv has a minimum deposit requirement of only $ 5 when using e-wallets like AirTM, WebMoney, PerfectMoney, Neteller and Skrill.

Other deposit methods have different Deriv minimum deposits as explained below.

Credit/debit cards – Deriv accepts and processes instantly deposits made via both Visa and Mastercard. The Deriv minimum deposit using credit cards is 10 USD/GBP/EUR/AUD.

Bank wire transfer – Deriv Minimum deposit using bank wire transfer is $10 with most deposits processed instantly.

Cryptocurrency – Deriv accepts cryptocurrencies for deposits, including Bitcoin, Ethereum, Litecoin, and Tether. There is no minimum deposit requirement when using cryptocurrencies, and payments are processed after three blockchain confirmations.

Payment Agents – The Deriv minimum deposit you can make via payment agents is 10 of your base currency. This article explains what payment agents are and how you can apply to be one.

Deriv Peer to Peer (Dp2p)- The Deriv minimum deposit via dp2p is 1 of your base currency. This article explains how DP2P works.

My experience has shown that Deriv does not charge fees for making deposits making it cost-effective. However, some third-party payment processors like PerfectMoney charge a fee of up to 2% for deposits.

Please cross-check with your payment processor before depositing to avoid disappointment.

Deriv Deposit & Withdrawal Methods

My Deriv review found that the broker offers over 60 global payment methods for deposit and withdrawal. This is very impressive compared to the broker's competitors and it brings convenience to its clients.

💳 Credit & Debit cards	💳 Perfect Money
💳 Payment Agents & Dp2p	💳 WebMoney
💳 Crypto (Bitcoin, Ethereum, Litecoin and Tether)	💳 Paysafe
💳 Zingpay	💳 Jeton
💳 Fasapay	💳Bank wire transfer

Deposit and withdrawal currencies that are accepted by Deriv include:

• EUR
• USD
• GBP
• AUD

Please note, you can only choose one of these currencies as your base currency and once you have made a deposit you will not be able to change that base currency for your account.

Deriv Minimum Withdrawal

🔍 Deriv Withdrawal Method	🏧 Deriv Minimum Withdrawal Amount
💳 E-Wallets	$5 of your base currency
💳 Credit Cards	$10 of your base currency
💳 Payment Agents	$10 of your base currency
💳 Deriv Peer-To-Peer	$1
💳 Cryptocurrencies	Bitcoin offers the lowest minimum withdrawal of 0.0026

How Long Does It Take To Withdraw From Deriv?

The time it takes to withdraw funds from Deriv depends on the chosen payment method.

1. E-Wallets: Withdrawals to e-wallets such as Skrill and Neteller are usually processed quickly, typically within a few hours to 2 business days​
   
2. Bank Transfers: These can take anywhere from 2 to 7 business days, with international transfers potentially taking longer. In some cases, bank transfers might take up to 15 working days due to additional processing steps​.
   
3. Credit/Debit Cards: Withdrawals to credit or debit cards usually take 5 to 15 working days, depending on the bank's policies​
   
4. Cryptocurrency: Withdrawals in cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Tether are typically processed within a few hours, subject to the completion of at least three blockchain confirmations​
   
5. Payment Agents and DP2P: Withdrawing via payment agents or DP2P can take even as little as ten minutes. This is because you do not have to submit a withdrawal request to Deriv, you simply find a peer or agent who is ready to pay you.

I use payment agents for withdrawals and there are many instances where I have closed a trade and got the funds in less than ten minutes. That's the fastest withdrawal time of any broker.

Overall, Deriv aims to process all withdrawal requests within 24 hours from their end, but the total time for funds to reach you will depend on the specific payment method and external factors such as bank processing times​

Deriv Fees & Spreads

My Deriv forex broker review found that the broker offers tight spreads that start from 0.5 pips on EUR/USD. This is much lower than the industry average making the broker very affordable.

 Moreover, the broker offers competitive spreads for other trading instruments, including stocks, indices, cryptocurrencies, and commodities, making it an attractive option for traders across different markets.

Deriv Broker also provides commission-free trading and does not charge deposit or withdrawal fees, making it a cost-effective option for traders.

Additionally, if a trader holds a position for more than one day, they will be subject to overnight fees. This doesn't apply to clients using a swap-free account. The broker also imposes an inactivity fee of $25 on accounts that have been inactive for over 12 months.

Deriv Trading Platforms

I am very impressed with the wide range of trading platforms Deriv offers. No other broker has such a variety of proprietary trading platforms.

Let us look at those platforms and highlight their key features.

Deriv MetaTrader 5 (DMT5)

DMT5 is Deriv's exclusive version of the MT5 platform developed by MetaQuotes Software.

MT5 offers exceptional charting capabilities, a wide range of technical indicators, and advanced order types.

You can access the DMT5 as a downloadable application on desktop and mobile (both Android & iOS). You can also access DMT5 on your browser as WebTrader although this has limited functionality.

D Trader

My Deriv review found that DTrader is a web-based trading platform designed for traders who prefer a simplified and intuitive interface. It offers a user-friendly trading experience with easy-to-use features and quick order execution.

You also tailor your charts to meet your needs with technical indicators and widgets you need to make smarter trading decisions.

DTrader is suitable for both novice and experienced traders and provides access to various financial markets, including forex, commodities, and synthetic indices.

It also offers basic charting tools and a range of trade types, such as Up/Down, Higher/Lower, and Touch/No Touch.

You can also trade multipliers on D Trader.

Deriv X

Deriv X is a CFD trading platform that lets you trade various assets in multiple markets simultaneously. It's fully customisable and packed with features that let you personalise your trading environment.

You can drag and drop the widgets you'd like to use, apply over 90 indicators and 13 drawing tools, and keep track of your progress and historical trades on one screen.

Trading synthetic indices on Deriv X is only available with a Derived Synthetics account. You can access Deriv X via a desktop as well as Android and iOS mobile devices.

DBot

DBot is Deriv’s trading platform that lets you build a trading robot to automate your trades.

You don't need coding experience to build your bots. All you need to do is drag, drop, and configure pre-built blocks and indicators onto a canvas to build your bot. You can also select from a variety of pre-built strategies or set up your own.

DBot doesn't require constant monitoring, allowing you to step away from your computer without missing opportunities.

Just set your trading parameters and let the bot do the trading for you. You can trade synthetic indices with options on DBot. DBot can be accessed from a desktop device.

Traders can backtest their strategies using historical data and then deploy them on the live market using DBot.

Deriv Go

Deriv GO is a mobile trading app from Deriv that allows traders to trade a variety of financial products, including forex, synthetic indices, commodities, and cryptocurrencies. The app is available for both iOS and Android devices.

With this platform, you can trade synthetic indices with multipliers where you can take advantage of risk management features such as stop loss, take profit, and deal cancellation to manage your trades.

Deriv Go offers competitive fees and spreads.

You can download Deriv GO from the Google Play Store, Apple App Store, and Huawei App Gallery.

Deriv EZ

Deriv EZ is a user-friendly CFD trading platform that offers instant access to all your favourite assets.

There is no additional account ID or password to remember, so you can fully focus on your trading.

Trade on Deriv EZ and access over 150 assets in forex, stocks and indices, commodities, cryptocurrencies, and derived indices.

Deriv cTrader

Deriv cTrader is a new and exciting platform that allows traders to copy others and share strategies.

The powerful trading platform integrates trading with cutting-edge technology and offers a wide range of features and functionality, making it a good choice for both beginners and experienced traders.

This Deriv copy trading platform will help inexperienced traders to profit from the expertise and strategies of expert traders.

With their user-friendly interfaces, advanced features, and flexibility, Deriv platforms offer a well-rounded trading experience.

In conclusion, this Deriv review found that the broker's trading platforms provide a solid foundation for traders of all levels.

Deriv Trading Assets

Our Deriv.com review found that the broker offers over 170 assets for trading including:

• Forex – Close to 50 FX currency pairs, including majors, minors and exotics
• Stock indices – Speculate on price movements across the largest US, Asian and European stock indices
• Synthetic indices – Based on a secure random generator, synthetic indices replicate real-world market conditions and are available 24/7 delivering consistent volatility. These are only available on Deriv platforms
• Commodities
• Precious metals, such as gold and silver, plus energies like oil are available
• Cryptocurrencies
• Exchange Traded Funds (ETF's)

However, some of these trading instruments may not be available in some countries and jurisdictions. Different Deriv account types also offer different trading instruments.

You can check the assets available for you by logging into your Traders Hub and clicking on the specific account type you want to use.

Deriv Trade Types

This Deriv forex broker review found that the broker offers three trade types.

CFD trading On Deriv broker

A CFD (contract for difference) allows you to trade on the price movement of an asset, without buying the underlying asset. On Deriv, you can trade CFDs with high leverage and tight spreads. Trade on financial markets plus Deriv's proprietary synthetic indices that are available 24/7.

Multipliers Trading On Deriv Forex broker

Deriv multipliers combine the upside of leverage trading with the limited risk of options. This means that you'll multiply your potential profits when the market moves in your favour. If the market moves against your prediction, your losses are limited only to your stake.

Options Trading On Deriv

Options are products that allow for payouts from predicting market movements, without needing to buy the underlying asset. You only need to open a position that predicts how the asset will move over a period of time.

This makes it possible for people to participate in the financial markets with minimal capital investment of just 35 cents per contract.

Deriv Customer Support

My Deriv review found that the broker offers 24/7 customer support through Live Chat, WhatsApp, and the Help Center enhancing the overall user experience and accessibility of the platform. This is better than most competitors who only offer 24/5 assistance.

Deriv offers customer support in over 20 languages, ensuring that traders from diverse backgrounds can access assistance in their native languages. Some of the languages available include Portuguese, Spanish, Turkish, Russian, Chinese, and French.

Deriv customer support is fastest via Live Chat and WhatsApp. The bot answers the most common questions right away and if you want to speak to a human agent you are usually connected within 2 minutes.

Contacting Deriv support via email proved to be the slowest with responses coming an average of once every 24 hours. I have found this to be rather disappointing, although the availability of faster methods offsets that shortcoming.

Learn how to contact Deriv support.

Deriv Education

Our Deriv review team found that traders can access Deriv Academy which covers recent market news, educational videos, and trading articles.

However, Deriv Broker does not provide trading seminars, webinars, insights, and other learning materials and research.

This is a major drawback especially for newbie traders seeking guidance on how to tackle the markets.

If you’re looking for more comprehensive education and training, you may look for other brokers offering better resources like HFM, Exness & XM.

Deriv Sign-up Bonus

Deriv broker does not offer a sign-up bonus,  a deposit bonus, or a welcome bonus.

Even though Deriv does not offer bonuses, rewards, or any other promotions, traders should not be discouraged by this. The broker still offers attractive trading conditions.

You can check out brokers offering bonuses here.

🏦 Deriv	🎁Bonus
Deriv Sign Up Bonus	❌ No
Deriv Welcome Bonus	❌ No
Deriv Referral Bonus	❌ No
Deriv Deposit Bonus	❌ No

Deriv Review: Deriv Awards

Deriv Trading Broker has received various awards for its dedication to providing quality service to its clients.

 The broker has accumulated the following awards during its years of service to traders:

•  “Broker of the Year” at the FinanceFeeds Awards in 2023.
• Deriv won the Most Trusted Broker APAC and Best Forex Spreads APAC awards at the UF Awards APAC 2023! Organised by Ultimate Fintech, a leading marketing agency, the awards ceremony hosted many fintech and online trading industry leaders prominent in Asia-Pacific. 
  
  
  
• Best Trading Platform in Asia’ by Global Brands Magazine. The Global Brands Awards honors excellence in performance and exceptional service delivery.
• Binary.com won ‘Best Binary Company Asia Pacific’ in the Global Banking & Finance Awards 2018.

Deriv Broker Complaints

Some traders complained about Deriv's slower responses via email. However, when our team reached out to Deriv support via email we got a response in 2 hours.

Also out of 40 000 reviews on Trustpilot, Deriv has an average rating of 4.6 out of 5 which is quite impressive.

Others have complained about withdrawals being denied.

However, as you can see this trader just deposited funds and then wanted to withdraw without placing any trades. I advise you to deposit funds that you are ready to trade with since Deriv is not a bank that can just hold your funds and let you withdraw without any activity.

I have not had any challenges withdrawing from Deriv since I started using the broker. All my withdrawals have been seamless and fast. Below is a screenshot of some of my withdrawals.

Deriv Pros & Cons

My Deriv review found that the broker offers a wide range of trading instruments with competitive trading fees in a secure environment.

Some of the Deriv cons include; no sign-up bonuses, and not accepting traders from other countries like France.

Conclusion On Deriv Review

After almost ten years of using the broker, I am satisfied that Deriv is a reputable online trading platform that offers a wide range of products, competitive fees, and powerful trading platforms.

The commission-free trading and absence of deposit and withdrawal fees make this a cost-effective broker with low trading fees.

The low minimum deposit requirement and demo account option make it accessible for traders of all levels.

However, the broker has limited educational resources and does not offer any bonuses. Also, its high leverage can be dangerous.

I recommend Deriv. You should try using the broker and see for yourself how user-friendly it is.

Frequently Asked Questions On Deriv Broker Review

Disclaimer

 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.