Few brokers can boast decades of experience in the market, more than 2 million clients worldwide and contracts worth over $10 billion. Next, we will talk about Deriv, which claims to have all these achievements. But is it?
Founding of the brand and its worldwide popularity
Deriv says that the company took its first steps back in 1999 as one of the pioneers of binary options trading. Previously, the organization operated under other names: BetOnMarkets and Binary, until rebranding occurred in 2020 and the broker began calling itself Deriv. Its headquarters are located in Malta. In total, according to the company, it has as many as 20 offices in 16 countries: France, Great Britain, Vanuatu, Malaysia, Singapore, UAE, Cayman Islands and others.
Over the years, the company has managed to work with clients from all over the world. Moreover, its website is available in 16 languages (Russian, English, Spanish, French, Italian, Turkish, etc.). However, regulatory documents are provided exclusively in English.
Currently, two platforms are offered for trading:
- Deriv MT5;
- Deriv Trader.
The minimum deposit is only $5-10 depending on the method of depositing funds. According to representatives of the office, successful transactions are possible even with small investments. Leverage is 1:1000, and spreads are fixed and floating.
Instruments include: currencies, digital assets, CFDs, indices, stocks, commodities and synthetic indices.
You can top up your deposit using bank transfer, online banking, cryptocurrencies, payment systems Visa, Mastercard, Skrill and others. The same tools are used when withdrawing funds, Deriv says. The commission for transactions is calculated individually, this is a disadvantage, since it opens up opportunities for speculation on the part of the broker.
There are educational materials on the site for new traders, however, according to the users themselves, this section is not informative. A demo account mode is available, but judging by the reviews, it is suspiciously easy to use.
The domain name of the Deriv platform was created in 1996, which is much earlier than the company’s stated launch date. There is also no information about the registrar, which is suspicious.
The broker states that it is registered in 4 jurisdictions at once – Malta, Vanuatu, Labuan and the British Virgin Islands. But all these countries are offshore, and licenses from them are not authoritative. A rhetorical question is looming: why has Deriv been unable to obtain decent regulation over its supposed 20 years of activity?
Scheme of deception
According to user reviews, the broker does not immediately start robbing clients. First, the company allows the trader to earn a little money so that he relaxes and begins to replenish his wallet with a large amount. The support team will constantly encourage you to invest more and more. Further unprofitable trades will follow for the trader. In case of refusal, the accounts are frozen. And if a trader wants to withdraw assets, the office will not allow him to do so either.
But there are also positive comments about working with Deriv. Either these are really lucky people who were able to make money with the broker, or the reviews were paid.
Despite many years of existence and experience in the market, Deriv deceives customers and embezzles their money. The office probably uses a selective fraud scheme, that is, there is a percentage of traders who earned money and withdrew funds. The broker uses this tactic to divert attention. We do not recommend working with him.