Deriv Review 2023: Pros, Cons and it Features

In this review, we'll take a closer look at Deriv, a forex and options trading platform, to see if it's a legitimate and trustworthy broker.

With so many brokers to choose from, it can be difficult to determine which ones are trustworthy and which ones are scams.

Background of Deriv

Deriv is a multi-asset trading platform that was founded in 1999 as Binary.com. The platform is operated by the Binary Group, which is headquartered in Malaysia and has offices in other parts of the world, including the UK, Malta, and Japan.

Deriv is regulated by several reputable regulatory bodies, including the Malta Gaming Authority and the Labuan Financial Services Authority. Their mission is to provide a simple, flexible, and reliable trading experience to traders of all experience levels.

The platform offers a range of trading instruments, including forex, commodities, and synthetic indices, as well as a range of trading options, including binary options, digital options, and forex options.

One of Deriv's unique features is its range of synthetic indices, which are proprietary assets that are based on real-world market movements.

These synthetic indices provide traders with an interesting alternative to traditional trading instruments and allow them to diversify their trading portfolios.

Which Trading Platforms Are Available On Deriv.com?

Deriv.com offers several trading platforms to its clients. Here are the trading platforms available on Deriv.com

Deriv MetaTrader 5 (DMT5)

DMT5 stands for MetaTrader 5, which is a popular trading platform used by traders around the world. Deriv.com has customized the MetaTrader 5 platform to create Deriv DMT5, which is tailored to the needs of its clients.

Deriv DMT5 offers a wide range of features, including advanced charting, multiple order types, automated trading, and real-time market data. Traders can use the platform to trade a variety of financial instruments, including forex, stocks, commodities, and cryptocurrencies.

One of the key features of Deriv DMT5 is its support for automated trading. Traders can create and backtest their own trading algorithms using the MQL5 programming language. They can also purchase or rent pre-built trading robots from the MetaTrader Market.

Another key feature of Deriv DMT5 is its advanced charting capabilities. The platform offers over 80 technical indicators and 21 timeframes, allowing traders to analyze the markets in detail. Traders can also customize their charts with a range of drawing tools and chart types.

DBot

Deriv DBot is an automated trading platform. It allows traders to create their own trading bots using a simple drag-and-drop interface or use pre-built bots available on the platform's marketplace.

With DBot, traders can automate their trading strategies and execute trades based on predetermined rules and conditions. Traders can choose from a range of bots available on the platform, including trend-following bots, breakout bots, and reversal bots, among others.

DBot is its user-friendly interface. Traders do not need any programming skills to create their own bots. They can simply drag and drop trading blocks onto a canvas and configure the bot's rules using a visual interface.

The platform also offers a range of templates to help traders get started.

DBot is fully integrated with Deriv.com's trading platform, allowing traders to execute trades directly from the platform.

It also offers backtesting capabilities, allowing traders to test their bots on historical market data to see how they would have performed in real market conditions.

DBot is a powerful tool that can help traders automate their trading strategies and execute trades based on predetermined rules and conditions.

About Deriv X

Deriv X is a mobile trading platform. It is designed for traders who prefer to trade on the go using their mobile devices. It is available for both iOS and Android devices and offers a range of features to help traders stay connected to the markets.

One of the key features is its real-time market data. The platform provides traders with access to real-time market data for a wide range of financial instruments, including forex, stocks, commodities, and cryptocurrencies. Traders can also set price alerts to be notified when their preferred assets reach certain price levels.

They also offer advanced charting capabilities, allowing traders to analyze the markets in detail. The platform offers a range of chart types and drawing tools, as well as over 80 technical indicators. Traders can also customize their charts to suit their preferences.

Another key feature is its order management capabilities. Traders can place and manage their orders directly from the platform, including market orders, limit orders, and stop orders. They can also monitor their open positions and view their trading history.

Overall it is a powerful mobile trading platform that offers a range of features to help traders stay connected to the markets. Its real-time market data, advanced charting capabilities, and order management tools make it a popular choice among traders who prefer to trade on the go.

Deriv SmartTrader

Deriv SmartTrader is a web-based trading platform. It is designed to be easy-to-use and accessible for traders of all skill levels, including beginners. SmartTrader is entirely web-based, meaning traders do not need to download or install any software to use the platform.

The platform offers a range of charting tools and indicators, allowing traders to analyze the markets in detail. SmartTrader also offers a range of order types, including market orders, limit orders, and stop orders, giving traders flexibility in how they execute their trades.

Deriv SmartTrader is a user-friendly trading platform that is designed to be accessible for traders of all skill levels. Its range of tools and features, combined with its educational resources, make it a popular choice among beginner traders.

Deriv Binary Grid

Deriv Binary Grid is an advanced trading platform offered by Deriv.com. It is designed specifically for binary options trading, a type of financial derivative that allows traders to speculate on the price movements of underlying assets.

Binary Grid is a web-based platform that offers a range of advanced features for binary options trading. One of the key features of Binary Grid is its ability to create custom trading grids. Traders can create their own grids, specifying the strike prices and the payout percentages for each option. This allows traders to create customized trading strategies to suit their preferences.

Binary Grid also offers a range of risk management tools, including the ability to set stop-loss and take-profit levels for each trade. Traders can also monitor their open positions and view their trading history.

Overall, Deriv Binary Grid is a powerful trading platform that offers a range of advanced features for binary options trading. Its ability to create custom trading grids and its real-time market data make it a popular choice among experienced traders who are looking for advanced trading tools.

How to Trade on Deriv Using the MT5 Platform: A Step-by-Step Guide

In this article, we will provide a step-by-step guide on how to trade on Deriv using the MT5 platform, so you can start making informed trades and take your trading to the next level.

• Step 1: Log in to your Deriv account using your credentials.
  
• Step 2: Click on the “Accounts” tab on the top left corner of the screen and select the account you want to trade from. Remember to fund your account before start trading.
  
• Step 3: Select the “MT5 Synthetic” option from the dropdown menu on the right side of the screen.
  
• Step 4: On the left-hand side of the screen, you will see a list of financial instruments. Click on the instrument you want to trade.
• Step 5: Once you have selected the instrument, the chart will appear in the middle of the screen. You can customize the chart by selecting different timeframes, adding indicators, and drawing tools.
• Step 6: To open a trade, click on the “Trade” tab at the bottom of the screen and select “New Order”.
• Step 7: In the “New Order” window, select the trade size, the direction of the trade (buy or sell), and any stop-loss or take-profit levels you want to set. You can also choose the type of order you want to use (market or pending).
• Step 8: Once you have entered all the necessary details, click on the “Sell” or “Buy” button to open the trade.
• Step 9: You can monitor your open trades by clicking on the “Trade” tab at the bottom of the screen and selecting the “Positions” option. Here, you can see your current trades and modify or close them as needed.

That's it! With these simple steps, you can start trading on Deriv using the MT5 platform. Make sure to always practice responsible trading and manage your risk carefully.

Insight of Trading on Deriv

The Pros Of Trading On Deriv

Deriv.com is a popular online trading platform that offers a range of financial instruments for traders around the world. Here are some advantages of trading on Deriv:

Wide range of financial instruments:

Deriv offers a wide range of financial instruments, including forex, commodities, cryptocurrencies, and more. This allows traders to diversify their portfolios and take advantage of different market opportunities.

User-friendly platforms:

Deriv offers a variety of user-friendly trading platforms, including the MT5 platform, DTrader, and DBot. These platforms are easy to use, even for beginners, and offer a range of advanced features for experienced traders.

Competitive trading conditions:

Deriv offers competitive trading conditions, including low spreads, high leverage, and fast execution speeds. This allows traders to maximize their profits and minimize their costs.

Strict regulation:

Deriv is a regulated broker and adheres to strict regulatory standards. This provides traders with a sense of security and ensures that their funds are safe and secure.

Educational resources:

Deriv offers a range of educational resources, including webinars, tutorials, and guides, to help traders improve their trading skills and stay up-to-date with the latest market trends.

Overall, trading on Deriv can be advantageous for traders of all levels. Its wide range of financial instruments, user-friendly platforms, competitive trading conditions, strict regulation, and educational resources make it a popular choice among traders around the world.

The Cons Of Trading On Deriv

There are also some potential disadvantages to trading on the platform, including:

Limited range of assets:

While Deriv offers a wide range of financial instruments, the selection of assets is still relatively limited compared to other online brokers. Some traders may prefer to trade a broader range of assets.

No direct access to markets:

Deriv operates as a market maker, meaning that it provides quotes for its own trading platform rather than sourcing them directly from the underlying market. This can result in wider spreads and less competitive pricing for certain instruments.

Limited charting tools:

While Deriv's trading platforms offer a variety of technical analysis tools, some traders may find the charting tools to be limited compared to other platforms.

Limited payment options:

Deriv offers a limited number of payment options, which may be inconvenient for traders who prefer to use certain payment methods.

Limited customer support:

While Deriv offers customer support via email and live chat. Some traders have reported slow response times and limited support options.

Final Thought

Deriv is a regulated online forex and CFD broker that offers a range of trading products and services to clients worldwide. With its user-friendly trading platforms, extensive range of markets, and flexible payment options, Deriv is an attractive option for both novice and experienced traders. Overall, Deriv is a reliable and trustworthy broker that is worth considering for anyone looking to trade forex and CFDs.

FAQ

Q: What is Deriv?

A: Deriv is an online forex and CFD broker that offers a range of trading products and services to clients worldwide.

Q: Is Deriv a regulated broker?

A: Yes, Deriv is regulated by the Malta Financial Services Authority (MFSA) and the Labuan Financial Services Authority (LFSA).

Q: What trading platforms does Deriv offer?

A: Deriv offers three trading platforms: DTrader, DBot, and DMT5. DTrader is a user-friendly platform designed for forex and CFD trading. DBot is a platform for automated trading using customizable trading bots. DMT5 is a more advanced platform with advanced charting tools and features.

Q: What markets can I trade with Deriv?

A: Deriv offers a range of markets to trade, including forex, commodities, cryptocurrencies, and stock indices.

Q: What is the minimum deposit to open an account with Deriv?

A: The minimum deposit to open an account with Deriv varies depending on the account type and payment method. The minimum deposit is generally $5 for e-wallets, $10 for credit/debit cards, and $50 for bank transfers.