Abstract：Deriv is a popular online broker that offers a wide range of trading products and supports various payment methods. If you're a beginner who wants to trade but has no idea how to open an account, this article is a must-read.
Deriv At a Glance
Deriv is a popular online broker that offers a wide range of trading products and supports various payment methods. If you're a beginner who wants to trade but has no idea how to open an account, this article is a must-read.
We will guide you through the account creation process, including the verification steps to ensure your account's security and legitimacy. Additionally, we will explain the deposit and withdrawal procedures, focusing on essential details such as minimum trading amounts and other basic rules you need to know. By the end of this article, you will have a comprehensive understanding of how to start and manage your trading journey with Deriv.
Is Deriv Safe or a Scam Broker?
On its official website, Deriv claims to be regulated by several authorities. However, only the Malta Financial Services Authority (MFSA) can be considered a tier-1 regulator. Other regulatory bodies, such as the LFSA, FSC BVI, and VFSC, are often associated with more lenient oversight. The St. Vincent and the Grenadines registration is the least regulated and may be seen as a red flag for investors seeking robust protection.
Additionally, the trading platform does not display its license information on the website, indicating that Deriv may not be fully compliant or legally regulated in terms of oversight.
Deriv takes account security seriously for its users. It ensures account safety through measures such as strong passwords, two-factor authentication, and secure browsing. D
eriv encourages users to practice using the demo account. Users can set trading limits or choose self-exclusion to control their trading behavior.
Deriv also ensures fair trading by complying with international regulations, conducting regular internal audits, and implementing risk management protocols.
Additionally, Deriv provides real-time data, detailed reports, and clear information on fees and risks, ensuring platform transparency.
How to Open a Deriv Account – Step by-Step
Deriv supports both demo and real accounts. Opening a demo account is straightforward—simply choose a trading platform and you will have access to a minimum of $10,000 in virtual funds.
However, opening a real account is subject to regional restrictions, with countries like the United States and Singapore being unable to open real accounts.
Demo Account Registration
A demo account is a tool that allows new traders to practice trading in a risk-free environment before starting to trade with real money.
Here are the steps to register for a Deriv demo account:
- Visit the Deriv website: First, go to the official Deriv website. On the homepage, you will see an option that says “Create Free Demo Account.” Click on this button to begin the registration process.
Enter your details: You will be asked to enter your email address. This should be a valid email address that you can access, as you will need to confirm your account through this address. You will also need to create a strong password.
Create account: After entering your email and password, click on “Create Account.”
Verify your email address: An email with a link will be sent to the address you provided. Click on this link to verify your email address and be directed to the Deriv dashboard.
Opening and Verifying a Live Account
To open a real account, the essential step is account verification. This process helps protect your account from fraud and ensures Deriv complies with financial regulations.
- Log into Your Account
Start by logging into your Deriv account. Make sure you have your login credentials ready. If youve forgotten your password, follow the password reset instructions on the login page.
- Access Account Settings
Once logged in, navigate to your account settings via the account dashboard. The dashboard is your central hub for managing your profile, trades, and account settings. Click on “Settings,” and youll find the “Account Verification” option.
- Upload Required DocumentsWhen you click “Account Verification,” you‘ll be prompted to upload key documents. These include proof of identity and proof of residence. For identity verification, you can submit a clear copy of an official document like a passport, driver’s license, or national ID.
For residence verification, provide a recent utility bill or a bank statement from the last six months showing your name and address. Ensure the documents are in an acceptable format (JPEG, PDF) and are clearly legible to avoid delays.
- Submit for ReviewAfter uploading the necessary documents, submit them for review. They will be sent to Derivs verification team, who will carefully check the documents to ensure they meet platform requirements and comply with regulations. This process may take up to three business days.
- Wait for ConfirmationOnce the documents are reviewed and approved, youll receive an email from Deriv confirming your account verification. This email marks the completion of the process, and your account will be fully set up and ready for trading. You can now deposit funds and begin trading on Deriv.
Deposit and Withdrawal
Methods and Processing Time
Deriv offers a variety of deposit and withdrawal methods, including credit/debit cards, online banking, mobile payments, e-wallets, cryptocurrencies, and P2P.
Most methods support USD, EUR, and GBP, with deposit amounts ranging from $5 to $5,000 and withdrawals up to $10,000.
Deposits are typically processed instantly, while withdrawal times vary from instant to 1 working day, with P2P transactions being completed within 1 hour. Cryptocurrencies have no minimum deposit and are processed once confirmed.
How to Withdraw Money from Deriv?
Depositing and withdrawing on Deriv is quick and easy. The minimum deposit and withdrawal amount is $5. Here's how it works:
Deposit: Log into your account, go to the “Cashier” section, and click “Deposit.” Select your preferred payment method (e.g., bank wire, credit/debit cards, or e-wallets), enter the deposit amount, and confirm the transaction.
Withdrawal: Navigate to the “Cashier” section and click “Withdraw.” Choose the same payment method used for deposit (if possible), enter the withdrawal amount, and confirm.
Deriv Review on Withdrawals
In the Exposure section of our website, there are two reports about Deriv, stating that users have been unable to withdraw funds. We advise any potential investors to proceed with caution.
