RECOMMENDED FOREX BROKERS
Deriv is a very fresh take on the old forex formula. The broker does so many things right, that it might just be one of the finest brokerages we have reviewed thus far. Just read the review to see how advanced Deriv truly is.
Derive, the broker is a part of a big list of branches, called Deriv Group, whose main holding company is Deriv Limited, located in the Channel Islands.
Deriv Investments (Europe) Limited is located in Malta and regulated by the local Malta Financial Services Authority (MFSA). This subsidiary offers the services of Deriv to European clients. The review will be of this subsidiary. There is also another website, binary.com, that is provided by the Derive group.
Deriv (MX) Ltd and Deriv (Europe) Limited are licensed by the Gambling Supervision Commission in the Isle of Man and by the UK Gambling Commission. Clients who wish to trade gambling products in the EU and UK should open accounts in either one of these two subsidiaries.
There are 4 other branches around the world that offer Deriv’s FX trading services to non-EU/UK clients.
- Deriv (FX) Ltd licensed by Labuan Financial Services Authority
- Deriv (BVI) Ltd licensed by the British Virgin Islands Financial Services Commission
- Deriv (V) Ltd and Champion Group Ltd licensed by Vanuatu Financial Services Commission
- Deriv (SVG) LLC located in Saint Vincent and the Grenadines, a location that does not have an FX regulator!
To avoid confusion, we will refer to Deriv Investments (Europe) Limited as simply Deriv.
So, Deriv is regulated by the Maltese Financial Services Authority. The MFSA requires out of all its brokers to hold at least €730 000 as starting capital. Furthermore, the Maltese overseer allows users to be compensated 90% of their investment of up to €20 000 if the broker they are using (regulated by the MFSA) falls into insolvency or cannot pay the user back for whatever reason.
The registration is rather complicated, but in the end, we were successful in opening a demo MT5 account. We opened the basic account type, where we got a EUR/USD cost of trade of 1.3 pips, which is very good indeed. The leverage in Europe is capped at 1:30 by ESMA. The non-EU/UK subsidiaries can offer a leverage of up to 1:1000. The trading assets are forex pairs, cryptocurrencies, commodities, indices, and synthetic indices.
The website can be translated into English, Spanish, French, Indonesian, Italian, Polish, Portuguese, Russian, Thai, Vietnamese, and Chinese.
DERIV LOGIN
The broker comes with a total of 4 choices for users to pick when it comes down to how they wish to trade.
First, we have SmartTrader, a binary.com platform that can also be used by customers of Derive.
Second, we have the DTrader, which is a proprietary platform from Derive. This platform is very simple to use.
Third, we have the DBot, an automated trading software that allows users to set bots to trade for them. Users pick their assets, set the purchase conditions plus the restart conditions, and run the automated trading bot that does all the work for them.
And lastly, the MT5 makes a glorious return here. There are three account types, each with their own set of trading conditions.
Users can easily switch between any of these platforms in a single click of the mouse button. It’s all incredibly simple and convenient!
DERIV MINIMUM DEPOSIT
Deposit information will be taken from the website because one has to register a live account to access the payment terminal.
The minimum amount required to open an account is $5.
Depositing methods are Bank transfer, credit cards, debit cards, FasaPay, Neteller, Skrill, QIWI, PerfectMoney, PaySafeCard, Jeton, SticPay, and airtm.
There are no deposit fees. There might be some from the payment issuers.
DERIV WITHDRAWN METHODS AND FEES
All withdrawal details will also be taken from the website.
The minimum withdrawal is $5.
The same methods for depositing are used for withdrawals.
The processing times can take up to 3 business days.
The only withdrawal fees seem to be those that are issued from the payment service providers.
BOTTOM LINE
Deriv has to be one of the fullest and best brokers we have ever reviewed. Everything about this firm is created to keep the user busy yet it never felt like anything was forced, The interface is user friendly, the trading conditions are very good and there is a big choice of trading platforms. These are just some of the main pros. There is much that to be seen and experienced here. A definite recommendation!
Luis
I was operating in that broker for 2 weeks and when I ask to withdraw my money they want to charge me a fee of USD26.75 for not having enough operations. When confronted that I will go to claim the regulator, they copy me the previous email. A SHAME, 3.34% for not operating enough ???????? I did 60 operations and I don’t want to trade in DERIV anymore, they are a scam.
I DO NOT OPERATE IN BROKER THAT MANIPULATE THE MARKET !!!
SCAM !!!!! SCAM !!!!!
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Estuve operando en ese broker por 2 semanas y cuando pido el retiro de mi dinero me quieren cobrar una taja de USD26.75 por no tener operado el suficiente. Cuando confrontados que iré a reclamar a la reguladora me copian el correo anterior. UNA VERGUENZA, 3.34% por no operar el suficiente???????? Hize 60 operaciones y no quiero operar mas en DERIV, son una estafa.
NO OPERO EN BROKER QUE MANIPULAN EL MERCADO!!!
SCAM!!!!!SCAM!!!!!