Deriv Review Is Deriv.com A Scam

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Deriv Review – is it scam or safe?

Deriv is an offshore broker offering both binary options and standard forex and CFD trading with two account types, leverage as high as 1:1000 and the MetaTarder5 platform. The company that operates the website is registered in St. Vincent and the Grenadines and is not regulated, so if you are considering investing your funds with them be sure to read the following review.

Account type Min. deposit Max. leverage Spread s
Standard Account n/a 1:1000 n/a
Advanced Account n/a 1:1000 n/a

Deriv Advantages:

Leverage as high as 1:1000 as offered by Deriv surely will fit even the most aggressive trading style. And yet you should be aware that leverage comes with a trade off – your funds can be erased in a matter of minutes when the market turns against you. And that is precisely why in the past few years leverage was restricted to levels well below 1:100 on virtually all major regulated markets including the EU, Canada, Japan and the U.S.

The MetaTarder5 is a highly reliable, professional trading platform, featuring numerous market indicators and trading robots with the help of which one can easily run algorithmic tracing sessions. And because the platform is also complemented with an excellent set of advanced charting tools, here you may also check our list of brokers supporting the MT5:

Deriv is owned and operated by Binary (SVG) Ltd, an offshore company based on St. Vincent and the Grenadines, which is not licensed and authorized by any official financial regulator.

Otherwise Binary (SVG) Ltd is said to be a part of a holding company – Binary Limited, based on the Channel Islands (UK), which also runs several other subsidiaries, registered in Malta, Vanuatu, British Virgin Islands and Malaysia, which are said to be regulated by the respective local authorities.

All of that however does not change the fact that Deriv and Binary (SVG) Ltd are not regulated, which basically means that for the safety of your funds you will have to rely entirely on the integrity of the people, who operate the website.

So our advise is to trade only with brokers, regulated by reliable financial authorities like the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA) in the UK, where for example your funds will even be protected by a client compensation fund, covering up to 85 000 GBP of your trading account.

Here you may check as well our list of FCA regulated brokers:

Deriv reserves the right to charge unspecified fees and to reverse trades

That is not something we like either. Deriv reserves the right to charge deposit and/ or withdrawal fees on their sole discretion, and to reverse the trades you have made. See for yourself:

No demo account directly available

Unfortunately the trading conditions offered with Deriv’s Standard and Advanced trading accounts are not specified, and as we were not directly able to open a demo account, we can not comment on their spreads.

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Still bear in mind that with a standard account spreads are generally considered attractive only when they start below 1,5 pips. Here you may check our list of brokers offering tighter spreads:

Unfortunately Deriv is not a broker we can recommend. They might be a part of a larger group that offers regulated services with some of their other brands, but that does not alter the fact that Deriv is a unregulated, offshore broker. So here we will repeat our usual advise – deposit your funds only with legit and properly regulated brokers, like the ones licensed and authorized by the FCA in the UK, CySEC in Cyprus and ASIC in Australia – the three most popular regulatory hubs in the forex industry.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Deriv Review: Is Deriv.com A Scam?

Deriv.com Review: this is the name of a Forex and Binary Options company that claims to provide a trading platform as well as trading automation. Is Deriv a legit Forex brokerage? Many new traders are entering the market and they have become easy targets for scammers. Read this review before starting trade with this broker.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Deriv mentions about 5 different locations on its website. All of these regions are offshore locations. Forex trading goes on without proper regulation in this kind of location making it a choice base for scam companies.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Deriv

The broker claims to have trading bots for their clients and high leverage, which some traders prefer. Numerous transaction options are listed and clients can pick any they are comfortable with. Trading assets are over 100 and includes the major markets. Even beginners can use the platform that is offered easily and earn profits.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Deriv Trading Platform

The website revealed that Deriv offers clients two trading platforms, namely; DTrader and DMT5. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are currency pairs, indices, synthetic indices, and other commodities. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:1000 and while this may seem generous, it is not advisable. High leverages can lead to huge loss of funds as well Spreads are not disclosed on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Deriv

The means that traders are to use to make deposits and withdrawals are VISA, MasterCard, Bank transfer, Neteller, Skrill, iWallet, WebMoney, Qiwi, Perfect Money, Fasa Pay, and PayTrust. We find these options encouraging.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

We are not informed of what the minimum deposit requirement is for those willing to trade with this brokerage. However, we want readers to be aware that the average among brokers is usually between $100 to $250. The terms and conditions of trading with this firm include giving them the right to charge deposit and withdrawal fees when they deem fit.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Deriv Licensed?

No. Deriv is not a properly licensed and registered broker. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

We found no means of contacting the broker on the page which is discouraging. This is because some clients would want to get more information directly from a company’s representative.

Conclusion

Deriv is not licensed and thus gets a low rating from us. We get no customer support means as well and no minimum deposit information. The only good thing is that it gives access to MT5 and high leverage. We advise the broker to be more open with details concerning trading conditions. If you have anything to say about this broker, do so in the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Deriv review ; Is Deriv.com a Scam? Find out now

November 6, 2020

Table of Contents

The estimated reading time for this post is 325 seconds

Deriv review ; This is an unregulated binary option and CFD broker that operate from St. Vincent and the Grenadines. This broker offers potential clients mt5 trading plartform, as well as Dtrader which they describe as powerful yet easy to use plartform. In addition, traders have the opportunity to trade using a robot under a plartform known as Dbot.

Meanwhile, deriv.com parade other qualities with Which they hope to attract investors. For instance, they claim that their minimum deposit can be as low as 5 dollars. And minimum stake of 0.35 dollars. Moreover, this broker claim to offer a payout as high as 50,000 dollars.

Before we continue this deriv review, we want to let you know that investing in this broker is taking a bigger risk. Therefore, stay away from it.

Meanwhile, there is no method of contacting these people. They don’t have a live chat and there are no phone numbers or email address to reach out to them. In addition not even their physical address is made known. Therefore we can reliably say that the operators of these brokerage are ghosts.

The big question is, are you going to involve yourself in a business with ghosts? Well, we will even give you more reasons why we blacklist them in this review.

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Deriv review

These people claim to be the latest innovation of binary group. For all we know, they are not licensed. Moreover, they are operating from the st. Vincent and the Grenadines. This is one of the hubs of off shore brokers. Of course their government does not regulate forex and binary options very tight. Therefore, scammers always take advantage of that. We always encourage our clients to invest in brokers regulated by top regulatory bodies like ;

Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA) in the UK.
Example of such broker is iqoption.
This way, you are sure of clients compensation funds.

Meanwhile, there are some good aspect of this broker and we will not fail to talk about them. For instance, they have a wide variety of tradable instruments.

Deriv says to be offering over 100 assets available across several major markets, including forex, indices and commodities, which you can trade both as binary options and CFDs. Although, they don’t trade cryptocurrency at the moment.

In addition, their trading plartform include MT5. This MetaTarder5 is a highly reliable, professional trading platform, featuring numerous market indicators and trading robots with the help of which one can easily run algorithmic tracing sessions.

Other Disadvantages of this broker.

High Leverage:

These people offer leverage as high as 1:1000. This may appear attractive but we consider it a trap. And you will find out why in this deriv review.

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As for this trap by deriv ; You should be aware that leverage comes with a trade off. And your funds can disappear in a matter of minutes when the market turns against you. Therefore, in the past few years leverage was restricted to levels well below 1:100 on virtually all major regulated markets including the EU, Canada, Japan and the U.S.

No Demo account:

Deriv.com does not provide any demo account. Therefore it’s difficult for us to objectively access their trading conditions. But subjectively, we can say that this trading conditions are not most likely going to be favourable. This is the only reason they would not allow potential clients to access it through a Demo account.

Deposit, Withdrawal, Commission :

There are different methods of deposit and withdrawal. These include bank wire, credit/debit cards, e-wallets, and cryptocurrencies.
Meanwhile, when it comes to commission, we have a lot of concern. In the course of this Deriv review, we found out that they reserve the right to charge deposit and/ or withdrawal fees on their sole discretion. In addition, they have the right to reverse the trades you have made. You can take a look at it here below.

This implies that this people reserve the right to do with you what’s over they choose.

Moreover, deriv.com does not reveal their minimum deposit and withdrawal. These are important information that can guide one.
Like we know, regulated brokers such as hot forex usually accept minimum deposit within the industry standard.

Who owns this firm?

Deriv is owned and operated by Binary (SVG) Ltd, which is an offshore company based on St. Vincent and the Grenadines. And not licensed and authorized by any official financial regulator.

Otherwise Binary (SVG) Ltd is said to be a part of a holding company – Binary Limited, based on the Channel Islands (UK), which also runs several other subsidiaries, registered in Malta, Vanuatu, British Virgin Islands and Malaysia, which are said to be regulated by the respective local autorities.

Like we earlier pointed out, these local authorities have very loose protocols for regulation. Therefore, we don’t consider these as regulation. You should avoid deriv at all cost. If you really want to invest, then Fxpro, which is fully registered and regulated is where you can do it.

Deriv review Conclusion.

This broker is out to scam you. They are not licensed. At the same time, their terms and condition give every authority to scam you and get away with it.

Avoid it and invest in better companies like hotforex.

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