No Regulation

Score

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/10

Deriv

Malta

|

2-5 years

Suspicious Regulatory License|

Medium potential risk|

https://deriv.com/

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Contact
Deriv
partners@deriv.com
https://deriv.com/
Influence
E

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

WikiBit Risk Alerts

1
Previous Detection 2024-03-02

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Time Machine

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Company Name
Deriv
Regulatory Status
No Regulation
Company Abbreviation
Deriv
Platform registered country and region
Malta
Phone of the company
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User Reviews

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1 ratings

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FX2056210018
Trading on Deriv is really bad, not at all user-friendly for Vietnamese people. Customer support is not effective, trading fees are too high. Choose another option!
2024-03-01 00:54
8
0
Aspect Information
Company Name Deriv
Registered Country/Area Malta
Founded Year 2-5 years
Regulatory Authority Unregulated
Number of Cryptocurrencies Available Over 30 cryptocurrencies
Fees 0.20%-1%
Payment Methods Credit & debit cards, Online banking, Mobile payments, E-wallets, Cryptocurrencies, On-ramp Off-ramp, Voucher, and Deriv P2P
Customer Support Live-chat, Whatsapp, Facebook, Twitter, and Instagram

Overview of Deriv

Deriv, a trading platform established in the last 2-5 years and situated in Malta, operates without specific regulatory oversight. Despite being unregulated, the platform has gained popularity by offering users access to over 30 cryptocurrencies for trading.

With fees ranging from 0.20% to 1%, Deriv provides competitive pricing for its services. Users can conveniently fund their accounts through various payment methods, including Credit & debit cards, Online banking, Mobile payments, E-wallets, Cryptocurrencies, On-ramp Off-ramp, Voucher, and Deriv P2P.

Deriv ensures customer support accessibility through live chat, Whatsapp, Facebook, Twitter, and Instagram, enhancing the overall user experience on the platform.

Overview of Deriv

Pros and cons

Pros Cons
Wide range of cryptocurrencies available Relatively new exchange
Transparent and competitive fees Unregulated
24/7 customer support available May have limited liquidity

Pros:

- Wide range of cryptocurrencies available: Deriv offers users the opportunity to trade over 30 different cryptocurrencies, providing a diverse selection of options for investment and trading.

- Transparent and competitive fees: Deriv is known for its clear and competitive fee structure, ensuring that users can easily understand and compare costs.

- 24/7 customer support available: Deriv offers round-the-clock customer support, ensuring that users can receive assistance and resolve any issues or concerns at any time.

Cons:

- Relatively new exchange: As a platform founded for 2-5 years, Deriv is relatively new compared to more established virtual currency exchanges.

- Unregulated: Deriv's unregulated status raises concerns about user protection and oversight within the platform.

- May have limited liquidity: Being a newer platform, Deriv may have lower trading volumes and liquidity compared to more established exchanges.

Regulatory Authority

Deriv operates under no regulatory authority according to the latest information addressed on WikiBit.

Unregulated exchanges do not have the same level of oversight and accountability. This can pose risks for traders, as there may be a lack of safeguards in place to protect against fraudulent activities or market manipulation. Additionally, unregulated exchanges may not have proper mechanisms to handle disputes or provide recourse for users in case of issues or losses.

Trading Market

The trading market of Deriv offers a comprehensive array of features catering to diverse investment preferences. Traders on Deriv have access to major, minor, and exotic currency pairs, enabling them to engage in forex trading with a wide range of options. The platform also provides derived indices that simulate real-world markets, offering a dynamic and 24/7 trading environment.

In addition to forex, Deriv encompasses stocks and indices, allowing traders to explore leading company stocks and top global indices. This diversity extends to commodities, encompassing precious metals and energies, providing access to world markets and enhancing trading opportunities.

Furthermore, Deriv acknowledges the prominence of cryptocurrencies in the modern financial landscape, offering the world's most popular digital currencies for trading. This inclusion reflects the platform's commitment to staying at the forefront of emerging market trends.

For those seeking diversified market exposure, Deriv incorporates exchange-traded funds (ETFs) into its offerings. Traders can choose from a variety of ETFs, allowing them to navigate markets broadly and strategically.

In summary, the Deriv trading market stands out for its versatility, covering major, minor, and exotic currency pairs, derived indices, stocks, global indices, commodities, cryptocurrencies, and ETFs. This multifaceted approach caters to a wide range of trading preferences, making Deriv a comprehensive platform for traders looking to explore and capitalize on various financial instruments.

Trading Market

Trading Platforms

Deriv presents a diverse ecosystem of trading platforms tailored to meet the varied needs and preferences of traders.

At the forefront is Deriv MT5, renowned as the most popular and comprehensive CFDs platform, offering a versatile array of financial instruments.

For those who prioritize user-friendly and customizable interfaces, Deriv X provides a personalized CFDs platform, allowing traders to adapt the experience to their unique strategies.

Deriv cTrader stands out for its speed and efficiency, incorporating built-in copy trading for a social trading dimension.

SmartTrader simplifies options trading with easy navigation, while Deriv Trader, as the flagship platform, offers a sophisticated environment for options, accumulators, and multipliers trading.

On the go, Deriv GO provides a mobile app specifically crafted for multipliers trading.

For automated trading strategies without the need for coding, Deriv Bot offers a solution, while Binary Bot caters to binary options trading with intuitive navigation.

This comprehensive suite of platforms ensures that traders of all levels and preferences can find an ideal solution within the Deriv trading ecosystem.

Trading Platforms

Deriv APP

Deriv offers a mobile application called “Deriv GO,” which is available on both Google Play for Android users and the App Store for iOS users. Deriv GO is designed to provide a convenient and user-friendly mobile experience for traders and investors using the Deriv platform.

Deriv GO, designed for mobile devices, allows quick access from home screens and offers features optimized for smartphones like touch functionality. In contrast, the webpage is accessible on various devices through web browsers, providing a more extensive experience but lacking some mobile optimizations.

When it comes to offline access, the app stands out by allowing users to use certain features without the internet, while webpage access generally requires a stable connection. Lastly, in terms of user interface, the app is tailored for smaller screens with touch interactions, while the webpage has a layout designed for a broader range of devices. Ultimately, the choice depends on individual preferences, device usage, and the desired features for an optimal trading experience.

Download the apps:

On Google Play (Android):

Open the Google Play Store on your Android device.

In the search bar, type “Deriv GO” and press Enter.

Locate the official Deriv GO app in the search results.

Tap on the app, and then click on the “Install” button to download and install it on your device.

On the App Store (iOS):

Open the App Store on your iOS device (iPhone or iPad).

In the search tab, enter “Deriv GO” and press Search.

Find the official Deriv GO app in the search results.

Tap on the app, then click on the “Get” button to download and install it on your iOS device.

Deriv APP

Cryptocurrencies Available

Deriv provides access to a diverse array of over 30 cryptocurrencies, catering to the evolving landscape of digital assets. Among the available options are prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). The selection extends to altcoins such as EOS (EOS), Cardano (ADA), Solana (SOL), and Dogecoin (DOGE), offering a range of options for traders seeking varying market exposures. Other offerings include Polkadot (DOT), Avalanche (AVAX), Binance Coin (BNB), and more. This broad spectrum of available cryptocurrencies empowers traders to tailor their portfolios to their preferences and investment strategies.

Cryptocurrencies Available

How to open an account?

The registration process for Deriv can be described in the following steps:

1. Visit the Deriv website and click on the “Sign Up” button.

2. Fill in your email address and choose a password for your account.

3. Verify your email address by clicking on the verification link sent to your email.

4. Provide your personal information, such as your name and date of birth.

5. Complete the identity verification process by submitting the required documents, such as a copy of your ID or passport.

6. Once your identity is verified, you can start using your Deriv account to trade cryptocurrencies and access other features provided by the platform.

Fees

The taker fee and maker fee of Deriv depend on the type of account you have and the trading volume you generate. Here is a table of the taker and maker fees for Deriv:

Account Type Trading Volume (Monthly) Taker Fee Maker Fee
Basic Up to 100,000 USD 1% 0.70%
Standard Up to 1,000,000 USD 0.80% 0.50%
Premium Up to 10,000,000 USD 0.60% 0.30%
VIP Up to 100,000,000 USD 0.40% 0.20%

It is important to note that these are just the standard fees. Deriv may charge additional fees for certain products or services. You can also get a discount on the taker and maker fees if you hold a certain amount of Deriv's native token, DVC. Here is a table of the DVC discount:

DVC Held Taker Fee Discount Maker Fee Discount
500 DVC 5% 3%
1000 DVC 10% 5%
2500 DVC 15% 7%
5000 DVC 20% 10%

Payment Methods

Deriv, as a versatile trading and investment platform, accommodates a diverse range of payment methods to suit the preferences and needs of its users.

Users can opt for the traditional convenience of Credit and Debit Cards, allowing direct deposits and withdrawals.

Visa and Visa Electron support deposits and withdrawals in multiple currencies, including USD, EUR, AUD, and GBP, with minimum and maximum limits specified. Transactions with these methods are processed instantly for deposits and within one working day for withdrawals. Mastercard and Maestro are also accepted, with similar deposit limits, but Mastercard doesn't support withdrawals. Diners and Discover, both limited to USD, have specified deposit and withdrawal ranges, and their transactions follow an instant processing time for deposits and 1 working day for withdrawals.

Method Currencies Min-max deposit Min-max withdrawal Deposit processing time Withdrawal processing time
Visa USD, EUR, AUD, GBP 10 - 5,000 10 - 10,000 Instant 1 working day
Visa Electron USD, EUR, AUD, GBP 10 - 5,000 10 - 10,000 Instant 1 working day
Mastercard USD, EUR, GBP 10 - 5,000 Not applicable Instant Not applicable
Maestro USD, EUR, GBP 10 - 5,000 Not applicable Instant Not applicable
Diners USD 10 - 5,000 10 - 10,000 Instant 1 working day
Discover USD 10 - 5,000 Not applicable Instant Not applicable

Online Banking facilitates secure transactions by enabling users to transfer funds directly from their bank accounts to their Deriv trading accounts.

The platform offers a variety of deposit methods to cater to diverse user preferences. Local Bank Deposits in USD allow for deposits ranging from 10 to 1,000 with a processing time of 1 working day. In contrast, major bank deposits support a similar currency range but offer withdrawal options from 15 to 1,000, with processing times of 1 working day for deposits and 1 to 2 working days for withdrawals. The PIX System accommodates USD, EUR, AUD, and GBP, enabling instant deposits ranging from 10 to 1,000, with withdrawals processed within 1 working day. Help2Pay, supporting USD transactions, facilitates instant deposits ranging from 15 to 5,000 and withdrawals from 15 to 10,000, with processing times of 1 to 2 working days. ZingPay, available in USD, EUR, AUD, and GBP, allows instant deposits ranging from 10 to 500 and withdrawals from 10 to 5,000, processed within 1 to 5 working days. VNPAY, in USD, supports deposits from 10 to 10,000 with a processing time of 1 working day, and withdrawals from 10 to 10,000 within 1 to 2 working days. Ozow permits USD deposits ranging from 5 to 200, and withdrawals from 10 to 2,000, both processed within 1 to 2 working days. Lastly, PSE in USD supports instant deposits from 10 to 1,000, and withdrawals from 10 to 1,000, processed within 1 to 2 working days.

Method Currencies Min-max Deposit Min-max Withdrawal Deposit Processing Time Withdrawal Processing Time
Local bank deposits USD 10 - 1,000 Not applicable 1 working day Not applicable
Major bank deposits USD 10 - 1,000 15 - 1,000 1 working day 1 - 2 working days
PIX System USD, EUR, AUD, GBP 10 - 1,000 10 - 1,000 Instant 1 working day
Help2Pay USD 15 - 5,000 15 - 10,000 Instant 1 - 2 working days
zingPay USD, EUR, AUD, GBP 10 - 500 10 - 5,000 Instant 1 - 5 working days
VNPAY USD 10 - 10,000 10 - 10,000 1 working day 1 - 2 working days
Ozow USD 5 - 200 10 - 2,000 1 working day 1 - 2 working days
PSE USD 10 - 1,000 10 - 1,000 Instant 1 - 2 working days

Mobile Payments offer a mobile-friendly approach to financial transactions, providing users with the flexibility to manage their funds through dedicated apps or mobile wallets.

M-pesa, MTN, Vodafone, Tigo, Airtel, Orange, and Zamtel are available on the platform, each denominated in USD with consistent deposit and withdrawal limits. They all support transactions ranging from 5 to 1,000 USD for both deposits and withdrawals. These mobile payment methods provide users with instant deposit processing, ensuring quick access to funds within the platform. Withdrawals are processed efficiently as well, typically within 1 working day.

Method Currencies Min-max Deposit Min-max Withdrawal Deposit Processing Time Withdrawal Processing Time
M-pesa USD 5 - 1,000 5 - 1,000 Instant 1 working day
MTN
Vodafone
Tigo
Airtel
Orange
Zamtel

E-Wallets, digital repositories of financial information, are smoothly integrated into Deriv for quick and efficient transactions.

The methods include Advcash, Airtm, AstroPay, Jeton, MiFINITTY, NETELLER, Paylivre, Perfect Money, Skrill, and STICPAY all facilitating deposits and withdrawals with limits ranging from 5 to 10,000 USD. Processing times for both deposits and withdrawals are consistently instant or within 1 working day across these methods, ensuring swift and efficient transactions. SKrill1-Tap supports deposits ranging from 10 to 10,000 USD, with instant processing, while withdrawals are not applicable.

Method Currencies Min-max Deposit Min-max Withdrawal Deposit Processing Time Withdrawal Processing Time
Advcash USD 5 - 1,000 5 - 10,000 Instant 1 working day
Airtm USD 5 - 2,500 5 - 2,500
AstroPay USD 5 - 1,000 5 - 1,000
Jeton USD, EUR, AUD, GBP 5 - 1,000 5 - 10,000
MiFINITTY USD 10 - 500 10 - 10,000
NETELLER USD, EUR, AUD, GBP 10 - 10,000 10 - 10,000
Paylivre USD 5 - 5,000 5 - 1,000
Perfect Money USD, EUR 5 - 10,000 5 - 10,000
SKrill USD, EUR, AUD, GBP 10 - 10,000 10 - 10,000
Skrill1-Tap USD 10 - 10,000 Not applicable
STICPAY USD, EUR, AUD, GBP 5 - 10,000 5 - 10,000

Cryptocurrency enthusiasts can engage in trading using popular digital currencies, as Deriv supports cryptocurrency deposits and withdrawals.

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), USD Coin (USDC), Tether ERC20 (eUSDT), and Tether TRC20 (tUSDT) all share the characteristic of having no minimum deposit requirement. Withdrawal minimums vary, such as 0.000898 BTC for Bitcoin and 0.02196841 ETH for Ethereum. The processing times for deposits are immediate upon confirmation, while withdrawals are subject to internal checks. Tether TRC20 (tUSDT) has specific minimum deposit and withdrawal amounts, set at 50 tUSDT and 25 tUSDT, respectively.

Method Currencies Min Deposit Min Withdrawal Deposit Processing Time Withdrawal Processing Time
Bitcoin (BTC) BTC No minimum 0.000898 BTC Funds available as soon as confirmed Subject to internal checks
Ethereum (ETH) ETH No minimum 0.02196841 ETH
Litecoin (LTC) LTC No minimum 0.0732118 LTC
USD Coin (USDC) USDC No minimum 49.99 USDC
Tether ERC20 (eUSDT) eUSDT No minimum 50 eUSDT
Tether TRC20 (tUSDT) tUSDT 50 tUSDT 25 tUSDT

The platform's On-Ramp and Off-Ramp services facilitate the conversion between traditional currency and cryptocurrencies, offering users flexibility in their trading choices.

The platform provides a comprehensive array of cryptocurrency deposit methods, each associated with specific currencies and characterized by distinct minimum and maximum deposit and withdrawal limits. Notable options include TenCoins, supporting USD transactions with deposit limits ranging from 20 to 500 and withdrawal limits from 10 to 2,000, both processed instantly for deposits and within 1 working day for withdrawals. BitCoinCash, BitCoin, DogeCoin, Ethereum, Litecoin, Tron, XRP, Cardano, UsdCoin, and BNB share a similar structure, offering instant processing for deposits and 1 working day for withdrawals. Notably, Ethereum has a higher minimum deposit requirement of 50 USD. Additionally, Banxa, facilitating transactions in BTC, ETH, LTC, USDC, and USDT, requires minimum deposits from 50 to 5,000, processed within 5-30 minutes, with withdrawals not applicable.

Method Currencies Min-max Deposit Min-max Withdrawal Deposit Processing Time Withdrawal Processing Time
TenCoins USD 20 - 500 10 - 2,000 Instant 1 working day
BitCoinCash USD, EUR, AUD, GBP 5 - 1,000 5 - 1,000 Instant 1 working day
BitCoin USD, EUR, AUD, GBP 20 - 1,000 20 - 1,000 Instant 1 working day
DogeCoin USD, EUR, AUD, GBP 10 - 1,000 10 - 1,000 Instant 1 working day
Ethereum USD, EUR, AUD, GBP 50 - 1,000 50 - 1,000 Instant 1 working day
LiteCoin USD, EUR, AUD, GBP 5 - 1,000 5 - 1,000 Instant 1 working day
Tron USD, EUR, AUD, GBP 10 - 1,000 10 - 1,000 Instant 1 working day
XRP USD, EUR, AUD, GBP 10 - 1,000 10 - 1,000 Instant 1 working day
Cardano USD, EUR, AUD, GBP 10 - 1,000 10 - 1,000 Instant 1 working day
UsdCoin USD, EUR 25 - 500 25 - 500 Instant 1 working day
BNB USD, EUR 25 - 1,500 25 - 500 Instant 1 working day
Banxa BTC, ETH, LTC, USDC, USDT 50 - 5,000 Not applicable 5-30 minutes Not applicable

Vouchers, as prepaid codes or cards, provide an alternative method for depositing funds.

LocalVouchers, Oxxo, PagoEfectivo, Spei, and OneVoucher all support instant deposits ranging from 10 to 1,000 USD (and other currencies in the case of PagoEfectivo and Spei) with no specified withdrawal options. PaySafeCard, available in USD, EUR, AUD, and GBP, facilitates both deposits and withdrawals ranging from 5 to 1,000, with deposits processed instantly and withdrawals within 1 working day.

Method Currencies Min-max Deposit Min-max Withdrawal Deposit Processing Time Withdrawal Processing Time
LocalVouchers USD 10 - 1,000 Not applicable Instant Not applicable
Oxxo USD 10 - 100 Not applicable Instant Not applicable
PagoEfectivo USD, EUR, AUD, GBP 10 - 700 Not applicable Instant Not applicable
Spei USD, EUR, AUD, GBP 20 - 800 Not applicable Instant Not applicable
OneVoucher USD 10 - 200 Not applicable Instant Not applicable
PaySafeCard USD, EUR, AUD, GBP 5 - 1,000 5 - 1,000 Instant 1 working day

Additionally, the Deriv P2P method allows users to transact in their local currency through a Deriv USD account. It is specifically designed for Deriv USD accounts with daily deposit and withdrawal limits set at 500 USD each. The processing time for transactions using Deriv P2P is maximally one hour, providing users with a swift and efficient means of managing their funds within the platform.

Method Currencies Supported Deriv accounts Daily deposit limits Daily withdrawal limits Processing time
Deriv P2P Your local currency Deriv USD account 500 USD 500 USD Max 1 hour
Payment Methods

Customer Support

Deriv provides a comprehensive and accessible customer support system through various channels, ensuring users have multiple options to reach out and receive assistance promptly. Here's an overview of the features of Deriv's customer support on Live-chat, Whatsapp, Facebook, Twitter, and Instagram:

Live-chat: The live-chat feature enables users to receive instant assistance from customer support representatives. It offers a real-time communication platform for addressing queries, resolving issues, and obtaining information swiftly.

Whatsapp: Leveraging Whatsapp for customer support enhances mobile accessibility, allowing users to conveniently communicate with the support team directly from their smartphones. This channel is particularly beneficial for users who prefer messaging apps for assistance.

Facebook: Deriv's customer support on Facebook provides a social media platform for engagement. Users can interact with the support team, ask questions, and stay updated on announcements or news related to the platform.

Twitter: Twitter serves as a quick and efficient channel for updates and responses. Users can receive timely responses to queries, participate in discussions, and stay informed about any service-related announcements.

Instagram: Instagram offers a visually engaging platform for customer support. Users can utilize direct messages to seek assistance, and the platform may also feature visual content such as tutorials or announcements to enhance communication.

Customer Support

Is Deriv a Good Exchange for You?

Deriv is the best trading platform for traders who value a diverse range of financial instruments. Its comprehensive offering, including over 30 cryptocurrencies, forex, options, and more, caters to traders seeking variety and versatility in their trading activities. The platform's extensive range of tradable assets positions it as an optimal choice for those looking to explore and diversify their investment portfolio across different markets.

Here are some other types of traders who might be drawn to Deriv for various reasons:

Derivatives enthusiasts: Deriv offers a wide range of options and synthetic products beyond typical forex pairs, appealing to those who enjoy complex derivative strategies.

Hedgers: Advanced tools like one-click rolling over and hedging positions within the same platform can attract traders seeking risk management options.

Automated traders: Deriv's API and tools for developing trading bots cater to programmers and automated trading enthusiasts.

Cost-conscious traders: Low fees and a competitive commission structure could be attractive to traders looking for budget-friendly options.

Mobile traders: Deriv's mobile app with full functionality allows for on-the-go trading, appealing to active traders who value mobility.

Conclusion

In conclusion, Deriv offers a wide range of cryptocurrencies and transparent fees, making it an appealing option for users seeking diverse investment opportunities and clear cost structures. However, users should carefully consider the platform's relatively new status, unregulated nature, and potential liquidity limitations. It's essential to balance the advantages and drawbacks while assessing if Deriv aligns with individual trading goals and risk tolerance.

FAQs

Q: What is the minimum deposit or withdrawal amount?

A: The minimum deposit and withdrawal amount varies depending on the payment method. The lowest deposit and withdrawal amount is 5 to 10 USD/EUR/GBP/AUD via e-wallets.

Q: Can I withdraw my deposit bonus?

A: Yes, but only once your turnover exceeds an amount that's 25 times the deposit bonus value.

Q: What is a dormant fee?

A: It's a fee that we charge for accounts that have been inactive for the last 12 months.

Q: Can I use fiat currencies on Deriv?

A: No, Deriv currently does not support fiat currencies, limiting the ability to deposit or withdraw traditional currency.

Q: Does Deriv require KYC

A: Yes, Deriv requires KYC.

User Review

User 1: “Deriv has truly impressed me with their diverse range of cryptocurrencies available for trading, making it easy for me to explore various investment opportunities. Their fee structure is refreshingly transparent and competitive, which I appreciate as it helps me manage my costs effectively. The 24/7 customer support has been a lifesaver; whenever I've encountered issues, I could reach out and receive prompt assistance. It's been a seamless experience trading on Deriv!”

User 2: “While Deriv offers a wide variety of cryptocurrencies for trading, which is a big plus, I do have some reservations. Being a relatively new platform, there's a sense of uncertainty around its stability and long-term reputation. Also, the fact that it's unregulated raises concerns about user protection. Additionally, I've noticed that liquidity can be limited at times, affecting the speed and execution of trades. On the bright side, their transparent fee structure and round-the-clock customer support have been positive aspects of my experience.”

Risk Warning

There are inherent security risks associated with investing in cryptocurrency exchanges. It is important to understand these risks before making such investments. Cryptocurrency exchanges are vulnerable to hacking, fraud, and technical glitches, which can lead to the loss of funds.

It is recommended to choose a reputable and regulated exchange, keep abreast of security measures, and be vigilant in detecting and reporting any suspicious activity. Please ensure that you understand the risks involved and note that the information contained in this article is for general information only.