Deriv.com Review: Is This Broker a Good Choice for Traders?
Deriv.com is a trading platform that has gained a lot of popularity in recent years. It is a subsidiary of Binary.com, and the platform offers a wide range of trading opportunities. However, as a trader, you need to be careful when choosing a trading platform. In this article, we will review Deriv.com and examine whether it is a good choice for traders.
Background Information on Deriv.com
Deriv.com is an online trading platform that was established in 2016. The company offers trading in various financial instruments, including forex, commodities, cryptocurrencies, and stock indices. The platform is operated by the Binary Group, which has been in the industry since 1999. The Binary Group has a strong global presence with offices in Europe, Asia, and Africa.
Regulation and Security
One of the most important factors that traders consider when choosing a broker is regulation. Deriv.com is regulated by three regulatory bodies, which include:
- The Malta Gaming Authority (MGA), which is responsible for regulating gaming and gambling operations in Malta
- The Vanuatu Financial Services Commission (VFSC), which is responsible for overseeing financial services providers in Vanuatu
- The Labuan Financial Services Authority (LFSA), which is responsible for regulating financial services providers in Labuan, Malaysia.
The fact that Deriv.com is regulated by multiple regulatory bodies should provide traders with some confidence in the integrity of the platform. Additionally, Deriv.com uses SSL encryption to protect users’ data from cyber threats.
Trading Platforms and Tools
Deriv.com offers two trading platforms, which include:
- Deriv MetaTrader 5 (DMT5)
- Deriv Platform
The Deriv MetaTrader 5 is a popular platform that is used by many traders worldwide. It is a reliable platform that is well-suited for both novice and experienced traders. The platform comes with various trading tools, including technical indicators, charting tools, and a news feed. Additionally, traders can access the platform through a desktop application, web trader, or mobile app.
The Deriv Platform is a proprietary trading platform that is designed to meet the needs of modern traders. The platform is intuitive and easy to use, and it comes with various trading tools, including technical indicators, advanced charting tools, and automated trading features. The platform is available as a web trader, mobile app, or desktop application.
Account Types and Deposit/Withdrawal Options
Deriv.com offers various account types, which include:
- Standard Account: This account requires a minimum deposit of $5, and it offers access to all trading instruments on the platform.
- Advanced Account: This account requires a minimum deposit of $100, and it comes with additional features, including lower spreads and access to market research and educational materials.
- Margin Account: This account requires a minimum deposit of $500, and it is suited for traders who want to use leverage to increase their trading capital.
Deriv.com offers a wide range of deposit and withdrawal options, which include credit/debit cards, bank transfers, and online payment gateways such as Skrill and Neteller. Withdrawals are processed within 24 hours, and there are no withdrawal fees.
Deriv.com has a competent customer support team that is available 24/7. Traders can reach out to the support team through live chat, email, or phone. Additionally, the platform has an extensive knowledge base that contains valuable resources on trading, account management, and platform features.
Pros and Cons of Deriv.com
- The platform is regulated by multiple regulatory bodies
- Deriv.com offers a wide range of trading instruments, including forex, commodities, cryptocurrencies, and stock indices
- The platform offers two reliable trading platforms, including the popular Deriv MetaTrader 5
- Deposits and withdrawals are processed efficiently, and there are no withdrawal fees
- Deriv.com provides 24/7 customer support through live chat, email, or phone
- The platform charges a dormant fee of $5 per month after an account has been inactive for six months
- The platform does not offer social trading or copy trading features
From this review, it is evident that Deriv.com is a reliable trading platform that offers a wide range of trading instruments, reliable trading platforms, and efficient customer support. Additionally, the platform is regulated by multiple regulatory bodies, which should provide traders with some confidence in the integrity of the platform. However, the platform has some drawbacks, including the dormant fee and the lack of social trading features. Overall, Deriv.com is a good choice for traders looking for a reliable and efficient trading platform.
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