Kirjoittaja Aihe: Deriv Review – Should You Trade with this Broker? (Luettu 292 kertaa)

upamfva · 08.02.23 - 08:20

Deriv Review – Should You Trade with this Broker?

Finding a trustworthy Forex broker is as important a task as improving knowledge and experience in financial trading. If you fail to find such a broker, you’ll risk losing your money in a scam, yet a trustworthy broker can help increase your chances of success quite a bit.To get more news about deriv review, you can visit wikifx.com official website.

In this Deriv broker review, we will help you discover the truth behind the trading terms and conditions offered on this platform. We’ll also find out whether the regulations found on the website are legit or not.

So, make sure to read this review in full to know if you can trust the Deriv Forex broker.
What does the website look like?
The first entry in our review will be the broker’s website and software support. As we visited Deriv.com and looked around, we discovered that the interface leans more towards visual sophistication than informative perfection. This means that you’ll find decent visual decorations but finding the necessary information will be a bit of a struggle.
This immediately gives off the impression that Deriv wants to hide some of the details with flashy decorations. Besides, we had a hard time finding many trading terms and conditions, be it the maximum leverage, order execution, or financial safety measures.

After the website overview, we went on to check out the broker’s trading accounts. After a lengthy search, we finally found that Deriv offers you three trading accounts: Financial (Standard), Financial STP, and Synthetic accounts. All of them support the maximum leverage of 1:1000, which might seem like a great offering but as we’ll find out further down below, it’s not.

Besides these live accounts, our review of Deriv Forex broker also shows that you can create a demo account on the website. And while this certainly is an advantage for you, it’s still not a huge accomplishment for the broker itself; pretty much all Forex brokers offer a demo account to their clients.

As for trading platforms, Deriv features MetaTrader 5 as the main software to use. In its credit, MT5 is a top-class trading platform that has lots of sophisticated tools and features. And in addition to that, you can also get Deriv’s own platforms like DTrader, DBot, and SmartTrader.
Is Deriv legit with its licenses?
Next up, let’s talk about Deriv’s regulatory framework. If you want to find out whether a broker can be trusted or not, check out its licenses and you’ll have a pretty straightforward answer.

With Deriv, we got that answer very easily. As the bottom notice of the website points out, Deriv has licenses from four individual regulators:
Now, the sheer number of the above-mentioned regulators can easily convince an unexperienced trader that they’re looking at a legit broker and the Deriv scam cannot be further from the truth. However, as you delve deeper into the world of Forex legislation and get the gist of how these regulations work, you’ll immediately realize that it’s not all rainbows and sunshine.

Even though Deriv claims to have licenses from the MFSA, VFSC, BFSC, and LFSA, it’s still not proof enough to convince us in its credibility. All of the regulators mentioned above come from third-world countries with no political or economic prowess. Therefore, when it comes to ensuring high financial standards and punishing the violators, they cannot be trusted. Especially since Deriv claims to have a global presence in a variety of countries.
In general, in order to consider a brokerage safe to trade with, it should feature at least one license from a Tier-1 regulator. In Forex, such regulators come from the UK (FCA), Australia (ASIC), Cyprus (CySEC), and Germany (BaFin), among many others. Now these are the regulators you’d want to entrust your financial security, not the third-level bodies that cannot even regulate their subjects within the country borders.