Deriv is a financial trading platform that offers binary options, forex, and CFD trading. The company is licensed and regulated by various agencies around the globe, and continues to deliver a platform that engages users across from a variety of locations.
- Low Minimum Deposit
- MT5 & Custom Platforms
- Internationally Regulated
- High Leverage Available
- Limited Base Currencies
- No FSCA Regulation
- Spreads Not The Lowest
Deriv offers a variety of features, including a user-friendly interface, 24/7 customer support, and a range of educational resources for traders.
In addition to traditional financial instruments, Deriv South Africa also offers the opportunity to trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
Overall, Deriv South Africa provides a secure and reliable trading platform for South African investors looking to diversify their portfolios with an International broker.
Is Deriv regulated in South Africa?
Deriv is regulated by many different agencies around the globe, but at this stage it does not have a dedicated listing with the Financial Sector Conduct Authority (FSCA) This means that whilst traders can trade on the platform with confidence, knowing that their funds and personal information are protected by strict regulatory standards elsewhere in the world, you do not have the same local protections as those provided by FSCA.
The current regulations held by Deriv include:
- MFSA (licence no. IS/70156) – Deriv Investments Europe Limited is located in Malta, regulated by the MFSA and approved to provide services within the European Union. Being regulated in Europe means that Deriv Investments must abide by ESMA regulations, which are quite stringent.
- LFSA (licence no. MB/18/0024) – Deriv FX Limited is located in Malaysia and regulated by the Labuan Financial Services Authority. This gives Deriv clients from other non specifically regulated Countries the option to trade forex, and cryptocurrency CFDs.
- FSC (licence no. SIBA/L/18/1114) – Deriv BVI Ltd is located in, and regulated by British Virgin Islands Financial Services Commission. This branch of Deriv is for International clients who are not covered by another specific local regulatory office of the broker.
- VFSC (See licence) – Deriv V Ltd is located in Vanuatu and regulated by the Vanuatu Financial Services Commission. Again, this is another branch of Deriv that is for International clients looking to trade CFDs on various financial instruments.
How long has Deriv been operating?
Deriv has been operating since 2019, when it was launched by the brokers and trading platform operators, Binary.com as part of a rebrand. Binary.com had been in operation since 2000 and is a trusted and established player in the online trading industry, but with the move away from binary options came a logical change of name and brand to reflect the new type of trading that is supported.
The name Deriv is a shortened version of the underlying trading asset type, Derivatives; so the brand hasn’t moved too far away from their old naming style with Binary.com.
Deriv South Africa based traders have access to a range of assets including forex pairs, cryptocurrencies, indices, and commodities but will need to register with one of the International branches of Deriv should you feel comfortable in doing so.
You will find access to some unique trading tools such as the DTrader platform for advanced technical analysis, as well as the option to trade on leverage up to 1:400.
Deriv minimum deposit
The minimum deposit for Deriv South Africa is R90 ZAR or $5 USD when using bank transfer, however, as the only accepted currency is USD, if you are transferring from a South African bank you will likely incur international payment charges which are higher than that of the minimum deposit itself. When using debit or credit cards, the minimum deposit is doubled to 180 ZAR , or $10 USD. You should note that other payment methods have their own minimum deposit requirements, which we have highlighted some of below.
- Bank Transfer – $5
- Debit/Credit Card – $10
- Skrill – $10
- Neteller – $10
- Perfect Money – $5
- Fasapay – $5
It is important to consider the minimum deposit amount when choosing a trading platform as it can affect how much money you might have available to trade with, and how this will work and provide flexibility within your trading plan.
Deriv minimum withdrawal
The minimum withdrawal amount on Deriv is R90, or R180 depending again on the method used. Withdrawals are processed within 2 business days, and there is no fee for processing withdrawals by Deriv, however there may be fees for charged by the receiving bank in some cases.
Deriv maximum withdrawal amounts range from $10,000 USD for card and online payment providers, up to $50,000 for bank transfers.
It is important to note that traders may be required to provide certain documentation for withdrawal verification purposes. This includes proof of identity and proof of payment method and is fairly standard across all major brokers.
For more information on withdrawals, you can also contact Deriv’s customer support team at any time, or you can visit the Deriv Academy that houses many videos that walk you through various processes.
Opening Deriv live account
To open a live trading account with Deriv, you can visit the company’s website and click on the “Open Account” button. This will prompt you to fill in your personal information and choose their account type (Standard or Premium).
After completing this process, you will need to make a deposit into their account before they can start trading on a live account with Deriv.
It is important to note that Deriv requires all traders to verify their identity and payment method before they can withdrawal funds from their account so make sure that you complete the full KYC process and have your account verified before you go ahead and begin real trading.
Overall, the process for opening a live trading account with Deriv appears to be straightforward and user-friendly, with user reviews largely positive on the ease of the steps required.
Various Deriv account types available
Currently, Deriv offers three main account types: Standard, Synthetic, and Financial STP. The Standard account has a minimum deposit of R90 and offers a maximum leverage of 1:1000. The other accounts are broadly very similar, although the STP account executes trades straight through to the market, whereas the synthetic and standard account can be executed via the market provided by Deriv.
All accounts offer access to the DTrader platform, 24/7 customer support, and a range of educational materials.
Additionally, Deriv also offers Islamic (swap-free) accounts for traders who wish to trade in accordance with Islamic religious beliefs. These accounts have the same features as the above accounts but do not incur overnight fees.
Deriv signup bonus
At the time of writing, Deriv does not currently offer signup bonuses for new traders. However, they do offer a range of promotions and exclusive events for Premium account holders.
Additionally, Deriv offers loyalty rewards through their DPoints program, where traders can earn points for every trade they make and redeem them for rewards such as cash bonuses and trading credits.
Does Deriv offer MT4 trading platform?
No, Deriv does not currently offer the MetaTrader 4 (MT4) trading platform. However, they do offer their own proprietary platform, DTrader, and also MetaTrader 5 which has many of the same features as MT4 such as charting and technical analysis tools.
How reliable is the Deriv app?
The Deriv app, available for both Android and iOS devices, has a rating of 4.5 out of 5 stars on the Google Play store with over 1,000 reviews. This indicates that the majority of users have found it to be a reliable and user-friendly platform for mobile trading.
Additionally, the app offers traders the ability to access their trading account and make trades on the go, as well as stay updated with market news and analysis. Overall, the Deriv app is a reliable option for traders looking to trade on the go.
Does Deriv have Nasdaq?
Yes, Deriv offers traders the ability to trade on the Nasdaq index through CFDs. In addition to Nasdaq, they also offer a range of other indices such as S&P 500, FTSE 100, and Hang Seng.
Deriv also offers a range of assets including forex pairs, cryptocurrencies, commodities, and stocks.
Is there a Deriv demo account?
Yes, Deriv offers demo accounts for traders to practice and test their strategies without risking real funds. The demo account comes with a virtual balance of R10,000 and can be accessed through the DTrader platform.
This allows traders to familiarize themselves with the platform and trading processes, as well as test out their strategies in a risk-free environment. However, it is important to note that the performance on a demo account may not always accurately reflect the results in a live trading environment.