Overview of Deriv

There are two brokers named Deriv, which can cause confusion:

One company is registered in Malta and is commonly known as Deriv.com, with its company name: Binary.com. In 2013 Binary.com rebranded to Deriv. They are a legitimate online trading platform offering forex, commodities, cryptocurrencies, and more, with regulation from the Malta Financial Services Authority (MFSA) and other regulatory bodies.

The other company, also named Deriv (FX) Ltd, is suspected to be a clone or fake broker. There is limited information available about this company, and it is not clear whether they are regulated or offer legitimate trading services.

Is Deriv legit or a scam？

Please note that this Deriv is the trading name of Deriv (FX) Ltd, and this company is not regulated or authorized by any other regulatory authorities. More clearly, this broker is using another legit Deriv's url website to confuse people and it is a clone broker.

Trading with a cloned forex broker carries a high risk as these brokers are not authorized or regulated by any legitimate regulatory body. These cloned brokers often use the names, logos, and websites of established and reputable brokers to deceive traders into believing that they are dealing with a legitimate broker.

Cloned brokers often offer attractive trading conditions such as low spreads, high leverage, and bonuses to lure unsuspecting traders into depositing funds into their accounts. Once traders deposit their funds, they may find that it is impossible to withdraw their money or receive any support from the cloned broker.

Pros and Cons

Based on the available information, it has been reported that Deriv is a suspected clone broker, which means that it is not a legitimate or regulated financial entity. Therefore, it is highly recommended to avoid trading with this broker. It is important to trade with a regulated and reputable broker to ensure the safety of your funds and investments. In conclusion, as there are no pros to trading with an unregulated and potentially fraudulent broker, it is advisable to consider reputable alternatives.

Market Intruments

Deriv offers a wide range of market instruments for traders to trade on, including forex currency pairs, commodities, cryptocurrencies, indices, and synthetic indices. Forex currency pairs include major, minor, and exotic pairs, while commodities include precious metals, energies, and agricultural products. Traders can also trade on popular indices such as the S&P 500, FTSE 100, and Nikkei 225. Deriv also offers trading on popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Additionally, traders can trade on synthetic indices, which are proprietary indices designed to simulate the behavior of real-world markets.

Account Types

Deriv offers different account types to cater to the varying needs and preferences of traders.

Synthetic Account: This account provides access to synthetic markets, which are artificial markets that simulate real-world market conditions. It requires a minimum deposit of $1 and offers leverage of up to 1:1000.

Financial account: Deriv also provides a financial account, which is specifically designed for trading on financial instruments. This account offers a higher leverage of up to 1:1000, allowing traders to maximize their trading potential. Additionally, traders can access a wide range of financial instruments, including stocks, bonds, and commodities.

Financial STP Account: This account is designed for traders who prefer to trade with Straight Through Processing (STP) execution. It requires a minimum deposit of $100 and provides access to over 50 tradable assets, including forex, commodities, and cryptocurrencies. The account also offers leverage of up to 1:100.

Demo Account

Deriv offers a demo account for traders who want to practice trading without risking real money. The demo account is a simulation of the live trading environment, and it comes with $10,000 in virtual funds that can be used to place trades in a risk-free setting. The demo account allows traders to test the trading platform, try out different trading strategies, and get a feel for the market conditions before investing real money. The demo account is available for all account types, including financial account. It is a great way for new traders to learn how to trade and for experienced traders to test out new strategies.

How to open an account？

1. Go to the Deriv website and click on “Create free demo account” or “Sign up for free” to create a demo or real account, respectively.

1. Fill in your personal information, such as your name, email address, and phone number.

2. Choose the account type that you want to open, such as a real or demo account.

3. Agree to the terms and conditions and submit your application.

4. Once your application is approved, you can fund your account and start trading.

Leverage

Leverage is a critical component of trading that allows traders to control more significant positions in the market with a smaller amount of capital. Deriv offers various leverage options for traders, depending on the type of account and trading instrument. For forex trading, the maximum leverage offered is up to 1:1000 for professional clients and 1:30 for retail clients. For commodities, indices, and cryptocurrencies, the maximum leverage offered is up to 1:200 for professional clients and 1:5 for retail clients.

It's essential to understand the risks involved with leverage trading and how to use it properly to avoid significant losses. Deriv provides education and resources for traders to understand leverage and its impact on trading. Traders can also adjust their leverage levels according to their risk appetite and trading strategies. It's crucial to note that high leverage comes with high risks, and traders should exercise caution when using leverage in their trading activities.

Spreads & Commissions (Trading Fees)

The exact spreads and commissions vary depending on the account type and trading instrument. Here's a brief overview of the spreads and commissions offered by Deriv:

For forex trading, the spreads start from 0.5 pips for major currency pairs such as EUR/USD, GBP/USD, and USD/JPY. The spreads for minor and exotic currency pairs are slightly higher, ranging from 1.0 to 3.0 pips.

For commodities, the spreads start from as low as 0.01 pips for Gold and 0.03 pips for Silver. For other commodities such as Crude Oil and Natural Gas, the spreads range from 0.3 to 3.0 pips.

For indices trading, the spreads start from as low as 0.5 pips for major indices such as the US 500 and Germany 30. For other indices, the spreads range from 1.0 to 3.0 pips.

Deriv charges a commission of $1 for forex trading and $0.50 for commodities and indices trading. However, the commission is only applicable to certain account types such as the Financial and Synthetic Indices account types.

Non-Trading Fees

Deriv does not charge any deposit or withdrawal fees. However, there are some non-trading fees that clients need to be aware of. For instance, an inactivity fee of $5 per month is charged on accounts that have been inactive for more than 12 months. There is also a fee of $10 for each returned deposit or withdrawal, and a $25 fee for withdrawals to international bank accounts. Moreover, clients may incur additional fees for using certain payment methods such as credit cards or e-wallets. It is recommended that clients thoroughly review the fee schedule provided by Deriv before opening an account.

Trading Platform

Deriv offers its clients a variety of trading platforms to choose from, each with its own unique features and advantages. The DTtrader platform is a browser-based platform that is user-friendly and easy to navigate, making it suitable for beginner traders. It offers a wide range of trading instruments, including forex, commodities, cryptocurrencies, and stocks. The platform also comes with a built-in economic calendar and technical analysis tools to help traders make informed trading decisions.

The Deriv platform is a comprehensive trading platform that is suitable for both beginner and experienced traders. It offers advanced charting tools, customizable layouts, and a wide range of technical indicators. The platform is available as a desktop, web, and mobile application, providing traders with access to the markets from anywhere in the world.

For traders who prefer automated trading strategies, Deriv offers the DBot platform. This platform allows traders to create and test their own trading bots using simple drag-and-drop tools. It also provides access to pre-built trading bots that have been developed by other traders.

Trading Tools

Deriv offers a range of trading tools to help traders analyze the markets and manage their trades effectively. Some of the trading tools available on the platform include:

• Swap calculator: This tool helps traders to calculate the swap fees incurred when holding positions overnight. It provides traders with the required swap rate and the amount of swap to be charged or credited to their accounts.

• Margin calculator: The margin calculator is used to calculate the required margin for opening a new position based on the instrument traded, leverage, and trade size.

• Pip calculator: This tool helps traders to calculate the value of a pip for a given currency pair, allowing them to estimate their potential profits or losses on a trade.

• PNL for margin: The Profit and Loss calculator for margin is used to calculate the profit or loss of a trade based on the margin used. It takes into account the instrument traded, leverage, and trade size to provide an accurate estimate of the potential profit or loss on a trade.

Deposit & Withdrawal

Deriv offers various deposit and withdrawal methods for its clients, including bank wire transfers, credit/debit cards, e-wallets, and cryptocurrencies. The available payment options may vary depending on the client's country of residence.

For deposits, clients can use bank wire transfers, credit/debit cards (Visa, Mastercard, Maestro), and e-wallets (Neteller, Skrill, FasaPay, Jeton, Perfect Money, and Qiwi). Deposits made via e-wallets and credit/debit cards are usually processed instantly, while bank wire transfers may take a few business days to reflect in the trading account.

For withdrawals, clients can use bank wire transfers, e-wallets (Neteller, Skrill, FasaPay, Jeton, Perfect Money, and Qiwi), and cryptocurrencies (Bitcoin, Ethereum, Tether, and Litecoin). Withdrawals made via e-wallets and cryptocurrencies are usually processed within a few hours, while bank wire transfers may take up to 7 business days to reflect in the client's account.

It's important to note that some payment methods may have fees associated with them, and the processing time may also vary depending on the payment method and the client's country of residence. Deriv does not charge any fees for deposits and withdrawals, but clients may be subject to fees charged by the payment provider or the intermediary bank.

Customer Support

Deriv offers customer support through multiple channels, including live chat, email, and phone support. The customer support team is available 24/7 to assist traders with any questions or issues they may have. Additionally, Deriv has an extensive FAQ section on its website, which covers a wide range of topics, including account registration, deposits and withdrawals, trading platforms, and more.

One of the advantages of Deriv's customer support is its multilingual support team. The customer support team can assist traders in multiple languages, including English, Spanish, French, Portuguese, Chinese, and more. This allows traders from around the world to communicate effectively with the support team.

Another benefit of Deriv's customer support is its responsiveness. The live chat support team is typically available within seconds, and email and phone support requests are usually addressed within a few hours. Overall, Deriv's customer support is highly rated by traders, and the broker is committed to providing exceptional customer service.

However, one potential downside of Deriv's customer support is that it does not offer support through social media channels. Some traders may prefer to communicate through social media, and the lack of this option could be seen as a limitation.

Educational Resources

Deriv offers various educational resources to help traders improve their knowledge and skills. Some of the educational resources offered by Deriv include:

• Trading guides: Deriv provides detailed trading guides that cover various topics such as forex trading, digital options trading, and contracts for difference (CFDs).

• Video tutorials: The broker also offers video tutorials on its website that cover a wide range of topics such as how to use the trading platforms, technical analysis, and trading strategies.

• Webinars: Deriv conducts regular webinars that cover a variety of topics related to trading. These webinars are conducted by experienced traders and are designed to provide traders with valuable insights and tips.

• Economic calendar: Deriv provides an economic calendar that displays important upcoming economic events and their impact on the financial markets.

• Trading contests: The broker also conducts trading contests that provide traders with an opportunity to test their skills and win prizes.

Conclusion

Based on the information available, Deriv (FX) Ltd is a suspected fake clone broker. It is important for traders to be cautious when dealing with such brokers and to thoroughly research and verify the legitimacy of a broker before opening an account or depositing funds. It is always recommended to choose a regulated broker with a good reputation in the industry to ensure the safety of your investments.

FAQs

• Q: Is Deriv a regulated broker？

A: No, this Deriv is the trading name of Deriv (FX) Ltd, which is not regulated by any regulatory authority.

• Q: What trading instruments does Deriv offer？

  A: Deriv offers a range of trading instruments, including forex, commodities, cryptocurrencies, stock indices, and synthetic indices.

• Q: What are synthetic indices on Deriv？

  A: Synthetic indices on Deriv are proprietary financial instruments that simulate real-world market movements using algorithms. They are available for trading 24/7, unlike regular market indices that have trading hours.

• Q: Does Deriv offer educational resources for traders？

  A: Yes, Deriv offers a range of educational resources such as video tutorials, trading guides, webinars, and market analysis to help traders improve their skills and knowledge.

• Q: Is customer support available on Deriv？

  A: Yes, Deriv offers customer support via live chat, email, and phone in multiple languages.

What is Trade245？

Trade245 is a forex and CFD broker that offers trading services in forex, indices, commodities, and stocks. The broker is registered in South Africa. It offers the popular MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Trade245 claims to offer competitive spreads, fast execution, and various account types and educational resources for traders. It is said to be authorized and regulated by South Africa Financial Sector Conduct Authority (FSCA), but it seems to be a suspicious clone.

Pros & Cons

Trade245 offers several advantages such as a wide range of trading instruments, multiple account types, and user-friendly trading platforms. However, there are also several drawbacks, such as lack of regulation and transparency. Traders should carefully consider these factors before deciding to trade with Trade245.

Note: It is important to conduct thorough research and due diligence before choosing a broker to trade with. The above table is just a summary of the pros and cons of Trade245 and should not be taken as a recommendation to trade with or against the broker.

Trade245 Alternative Brokers

There are many alternative brokers to Trade245 depending on the specific needs and preferences of the trader. Some popular options include:

• Forex.com - a globally trusted broker that is regulated in multiple jurisdictions and offers a user-friendly platform, competitive pricing, and a range of educational resources.

• FXTM - a popular broker that is regulated in multiple jurisdictions and offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with competitive pricing and excellent customer support.

• IC Markets - a well-regulated broker that offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with tight spreads and fast execution.

Is Trade245 Safe？

Trade245 misrepresented its regulatory status by claiming to possess a license from the Financial Sector Conduct Authority (FSCA). However, upon investigation, it was revealed that the regulated entity named on the license, RED PINE CAPITAL (PTY) LTD, had no association with the Trade245 trading brand. Consequently, Trade245 unlawfully appropriated a regulatory license to mislead unsuspecting investors, compromising transparency and eroding trust in the financial markets.

Market Instruments

Tradable financial instruments available on the Trade245 platform include FX pairs, indices, stocks and commodities CFDs and more. Many other brokers could even offer richer instruments, like metals, cryptos, options, etc.

Accounts

Trade245 offered 7 account types targeting different trading preferences and strategies. Their account options included:

Standard Account: This account featured variable spreads starting from 1 pip, with leverage up to 1:500. Bonus funds of 100% were included with this account type, accessed via the MT4 platform.

Swap-Free Account: Similar to the Standard Account, with variable spreads from 1 pip and maximum leverage of 1:500, but without any bonus funds. This account was available on the MT4 platform and facilitated swap-free trading.

Zero Spread Account: As the name suggests, this account offered variable spreads starting from 0 pips, with leverage capped at 1:500. No bonus was included, and it operated on the MT4 platform.

Bonus 245 Account: This account provided variable spreads from 1 pip, with leverage up to 1:500. A substantial bonus of 245% was included with this account type, accessible via the MT4 platform.

Bonus Rescue Account: Designed for risk management, this account featured variable spreads from 1 pip and leverage of 1:500. It included a 100% bonus to protect against potential drawdowns, available on the MT4 platform.

Micro Account: Tailored for smaller trading sizes, this account offered variable spreads starting from 1 pip and leverage up to 1:500. No bonus was included, and it was accessible on both MT4 and MT5 platforms.

Copy Trading Account: This account facilitated copy trading, with variable spreads from 1 pip and maximum leverage of 1:500. No bonus was provided, and it was available on the MT4 platform.

Notably, there is no minimum opening deposit requirement for any of these accounts, providing traders with greater flexibility.

Leverage

All account types offered by Trade245 have a maximum leverage of 1:500. This means that traders can potentially increase their profits or losses by up to 500 times their initial investment. However, it is important to note that high leverage also increases the risk of significant losses. Therefore, it is crucial for traders to use leverage responsibly and manage their risk effectively. Traders should also ensure that they understand the risks and implications of using high leverage before trading with Trade245 or any other broker.

Spreads & Commissions

Trade245 offers variable spreads which start from as low as 1 pip for some account types (except for Zero Spread accounts from 0 pips). The spreads may vary based on the trading instrument, account type, and market conditions. Trade245 does not charge any commission fees for its trades. Instead, it includes its costs within the spread. However, the Zero Spread account type may charge an unspecified commission fee.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: The above data is based on the information available on the respective brokers' websites and is subject to change. Spreads and commissions may vary depending on the account type, trading platform, and market conditions.

Trading Platforms

Trade245 offers its clients the popular and widely used MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Both platforms are available for download on desktop, mobile, and tablet devices. These platforms provide a user-friendly interface, advanced charting tools, and a wide range of technical analysis indicators. MT4 and MT5 are well-known for their fast execution speeds, reliable order execution, and a range of trading tools to enhance the trading experience.

Additionally, the platforms support automated trading through expert advisors (EAs) and allow traders to customize their trading strategies using their preferred programming language.

Overall, Trade245 provides a comprehensive trading experience for both novice and experienced traders with the support of two of the most popular trading platforms in the industry.

See the trading platform comparison table below:

Note: The table is based on the information available on the official websites of the brokers, and is subject to change.

Deposits & Withdrawals

Trade245 offers various deposit and withdrawal methods to its clients, including Visa, MasterCard, mPESA, ozow, Skrill and various cryptocurrencies. There is no minimum deposit requirement. There are no deposit fees charged by Trade245.

Withdrawals are said to be processed within hours, and there are no withdrawal fees charged by Trade245. However, clients should be aware that some payment providers may charge fees for their services.

Multiple Trading Currencies

ZAR, USD, GBP

Trade245 minimum deposit vs other brokers

Fees

Trade245 charges fees for several services as follows:

• Overnight Financing Fees: Also known as swap fees, overnight financing fees are charged for holding positions open overnight. The fees are calculated based on the trading instrument being traded and the position size.

• Inactivity Fees: Trade245 charges an inactivity fee of $50 per month for accounts that have been inactive for 3 months or more.

• Deposit & Withdrawal Fees: Trade245 does not charge any fees for deposits and withdrawals. However, third-party fees may apply, depending on the method used.

It's worth noting that the fees charged by Trade245 may vary depending on the type of account opened and the trading platform used. It's important to read the terms and conditions carefully before opening an account with Trade245 to fully understand the fees charged.

See the fee comparison table below:

Customer Service

Trade245 offers 24/5 customer support through various channels including email and phone. Their website also has an FAQ section where clients can find answers to common questions. You can also follow them on some social networks such as Facebook and Instagram.

Education

Trade245 offers some educational resources to its clients, including a glossary of commonly used trading terms and articles on various topics related to trading. These resources are aimed at helping traders of all levels to gain a better understanding of the financial markets and improve their trading skills. Overall, Trade245's educational offerings are a valuable resource for traders who are looking to improve their trading performance and achieve their financial goals.

Conclusion

Overall, Trade245 appears to offer a competitive trading environment with a wide range of trading instruments, multiple account types, and popular trading platforms including MT4 and MT5. However, the fact that their FSCA license is a suspicious clone raises some concerns about the legitimacy of the broker. In addition, there are some negative reviews from users reporting difficulties with withdrawals, which is certainly a red flag. As with any broker, it is important to conduct thorough research and exercise caution before investing any funds.

Frequently Asked Questions (FAQs)

Is Trade245 legit ？

No. It has been verified that their South Africa Financial Sector Conduct Authority - FSCA license is a suspicious clone.

At Trade245, are there any regional restrictions for traders？

Yes. Trade245 does not provide services for the residents of certain countries, such as the United States, Canada, Israel and the Islamic Republic of Iran.

Does Trade245 offer demo accounts？

Yes. Demo accounts are available.

Is Trade245 a good broker for beginners？

No. Trade245 is not a good choice for beginners. Though it offers demo MT4 and MT5 accounts, never forget their FSCA license is a suspicious clone.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.