Traders Union Reviews Deriv: Comprehensive Pros and Cons Analysis (2024)

Deriv: A Comprehensive Review by Traders Union

📌 Deriv:

Specialization and Global Reach

Deriv excels in three main markets: Forex, CFDs, and options. The broker’s extensive network of representatives ensures global service availability, and its multi-regulatory approach guarantees high reliability.

👍 Advantages of Trading with Deriv

• Investment Protection: Membership in The Financial Commission provides investment protection up to €20,000.
• Cost Efficiency: Zero trading fees and a wide range of derivatives with both floating and fixed spreads.
• Low Entry Barriers: The minimum amount to trade options is $5, and the initial deposit starts from 5 units of the account's base currency (EUR, USD, GBP, AUD).
• Customized Platforms: Trading platforms are tailored to specific markets.
• Fund Security: Client funds are held in segregated accounts in major banks.
• Account Protection: Accounts are secured with two-factor authentication.

👎 Disadvantages of Trading with Deriv

• Platform Limitation: The broker does not offer the more beginner-friendly MetaTrader 4 platform.
• Investment Options: No PAMM or MAM account investments available.
• Educational Content: Limited educational resources on the company’s website.

📋 Opening a Trading Account with Deriv

If you plan to start trading CFDs or options with Deriv, here’s a brief guide on how to open an account:

1. Registration: The Deriv website does not have a direct button for opening an account. Click "Log in" and confirm your intention to create an account to access the registration form.
2. Demo Account: Deriv offers to open a demo account. Confirm your email by clicking on the link sent to your inbox. After verification, you can easily switch between demo and live accounts.

Account Features

📌 In your Deriv account, you can:

• Choose the currency for your trading account.
• Complete verification by confirming your identity and address.
• Perform financial operations, including deposits and withdrawals.
• Set up two-factor authentication.
• View account limits and access login history and transaction records.
• Generate reports on open/closed positions and pending orders.

👨⚖️ Regulation and Safety

Deriv operates under multiple regulations, holding licenses from the Labuan FSA, VFSC (Vanuatu), and BVI FSC (British Virgin Islands). In the EU, Deriv is supervised by the Malta Financial Services Authority (MFSA). Since June 2020, Deriv has been registered with the Financial Commission, an international body that resolves disputes between brokers and traders. The Financial Commission also has a compensation fund that reimburses clients up to €20,000 in case of broker insolvency.

Advantages

• Regular monitoring of Deriv's financial stability by international regulators.
• Partial compensation of client losses if the broker ceases operations or payments.
• Client deposits are held separately from the company's capital.

Disadvantages

• Negative balance protection is not available in all countries.
• Traders cannot choose trading conditions, as they are set by the regulator of their country.
• Limited leverage on currencies, metals, and indices for traders from Europe.

Summary Score: 8.47/10