General Information

Santander UK is a large retail and commercial bank based in the UK and a wholly-owned subsidiary of the major global bank Banco Santander. It is registered in England and Wales, authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It manages its affairs autonomously, with its own local management team, responsible solely for its performance. It has its origins in three constituent companies—Abbey National, Alliance & Leicester and Bradford & Bingley—all former mutual building societies. It is one of the leading personal financial services companies in the United Kingdom, and one of the largest providers of mortgages and savings in the United Kingdom.

Regulation

Santander UK Plc is a regulated institution under the jurisdiction of the United Kingdom's Financial Conduct Authority (FCA) with License No. 106054. It holds a Market Making (MM) license type and has been regulated since December 1, 2001. The institution operates with the license type of “No Sharing.” You can contact them via email at customerservices@santander.co.uk and find more information on their website: https://www.santander.co.uk/. The regulatory status does not specify an expiry date, and Santander UK Plc is located at 2 Triton Square, Regent's Place, London NW1 3AN, UNITED KINGDOM, with a phone number of 448003897000. Certified documents related to their regulatory status are not provided in the information provided.

Pros and Cons

Santander offers a wide range of financial products and services to cater to diverse customer needs. However, it's essential to consider both the advantages and disadvantages when evaluating their offerings.

Pros:

1. Comprehensive Product Range: Santander provides a diverse selection of banking, investment, insurance, and borrowing options, allowing customers to find suitable solutions for their financial goals.

2. Accessible Customer Support: Customers can easily reach Santander's support through telephone, live chat, or the ATM/Branch Locator. The extended hours of operation and accessibility options accommodate various needs.

3. Regulated Institution: Santander is regulated by the UK's Financial Conduct Authority (FCA), providing customers with confidence in their financial stability and adherence to industry standards.

Cons:

1. Monthly Fees: Some of Santander's current accounts come with monthly fees, which may not be ideal for individuals seeking fee-free options.

2. Complexity: With numerous products and services, navigating Santander's offerings can be overwhelming for some customers who may prefer simpler banking solutions.

3. Eligibility Criteria: Eligibility criteria apply to certain products, such as personal loans, which may limit access to individuals who do not meet specific income or credit requirements.

Here is a table summarizing the pros and cons of Santander:

Market Instruments

The Santander UKs segments include Retail Banking, Corporate & Commercial Banking and Corporate & Investment Banking. The Retail Banking segment offers a range of products and financial services to individuals and small businesses, through a network of branches and automated teller machines (ATMs), as well as through telephony, digital, mobile and intermediary channels. The Corporate & Commercial Banking segment offers a range of products and financial services include loans, bank accounts, deposits, treasury services, trade and asset finance for small medium enterprises (SME) and corporate customers. The Corporate & Investment Banking segment serves corporate clients and financial institutions.

Here's a summary of their products:

1. Current Accounts:

• Santander Edge Up Current Account:

• Earn cashback on selected household bills, supermarket, and travel costs.

• Earn interest on credit balances up to £25,000.

• Requires funding the account with £1,500 each month and setting up 2 active Direct Debits.

• No charges for using the debit card outside the UK.

• £5 monthly fee.

• Santander Edge Current Account:

• Earn cashback on selected household bills at supermarkets and travel spend.

• Access to an optional savings account with exclusive rates.

• Requires funding the account with £500 each month and setting up 2 active Direct Debits.

• No charges for using the debit card outside the UK.

• £3 monthly fee.

• Everyday Current Account:

• Simple and straightforward account with no monthly fee.

• 1|2|3 Student Current Account:

• Free 16-25 railcard for four years.

• Interest-free overdraft of £1,500 for the first 3 years of studies.

• Requires regular deposits of at least £500 every 4 months.

• 1|2|3 Mini Current Account:

• Designed to help children and young people learn money management.

• Offers interest on balances at certain thresholds.

• Choice of contactless debit card or cash card.

• Basic Current Account:

• Suitable for those with poor credit history or newcomers to the UK.

1. Mortgages:

• Services for first-time buyers, home movers, and those looking to remortgage.

• Options for changing lenders, borrowing more money, and managing existing mortgages.

• Later life mortgages for individuals aged 55 or over.

• Partnership with ufurnish.com for home furnishing experiences.

1. Credit Cards:

• Range of credit cards for various needs, including:

• All in One Credit Card

• Long Term Balance Transfer Credit Card

• Everyday No Balance Transfer Fee Credit Card

• Santander World Elite™ Mastercard®

1. Savings and ISAs:

• Savings and ISAs for different goals, including:

• Easy Access Saver

• Regular Saver

• Santander Edge Saver

• Easy Access ISA

• Fixed Rate ISAs

• Fixed Term Bonds

• Junior ISA

• Inheritance ISA

1. Investments:

• Investment options with cashback incentives.

• Investment Hub for online advice and fund selection.

• Investment advice and resources available.

1. Insurance:

• Home insurance, including contents insurance for renters.

• Life insurance, including critical illness cover.

• Health insurance.

• Mortgage life insurance.

• Family and lifestyle insurance.

• Over 50s Life Insurance.

• Car insurance, including electric vehicle insurance.

• Travel insurance.

• Business insurance and landlord insurance.

1. Personal Loan:

• Personal loans with fixed interest rates.

• Loan amounts from £1,000 to £25,000.

• Flexible repayment terms.

• Loan eligibility criteria apply.

Santander provides a comprehensive range of financial products and services to cater to their customers' banking, investment, insurance, and borrowing needs.

Accounts

Six digit account sort codes are used in the range between 09-00-xx to 09-19-xx. Sort codes for accounts formerly held by Alliance & Leicester use the range 09-01-31 to 09-01-36.

Credit Rating

In October 2011, Moody's downgraded the credit rating of twelve financial firms in the United Kingdom, including Santander UK, blaming financial weakness. In June 2012, Moody rated Santander UK as being in a more financially healthy position than its parent company, Banco Santander.

Deposit & Withdrawal

In November 2009, Santander launched the first current account in the United Kingdom without fees (including unauthorised overdrafts) for its current and future mortgage customers. In January 2010, the bank began waiving fees for customers using Santander's automated teller machines in Spain, which traditionally would incur fees for transactions in a foreign currency.

Accepted Countries

Santander's Corporate and Commercial Banking division operates from a number of regional business banking centres across the United Kingdom. Less than 1% of Santander UK's business is held abroad.

Customer Service

Santander has frequently been rated the worst bank for customer service in the United Kingdom, although by July 2011 had sought to improve, notably by returning call centre operations to the United Kingdom from India. Its '123' product range was ranked third best in the United Kingdom in 2013, and in a moneysavingexpert.com poll in February 2014, customers ranked their satisfaction higher than with any of other main high street banks.

Santander's customer support offers several ways to contact them and obtain assistance:

1. Telephone Support:

• Customers can reach a Customer Service Center Advisor at 1-877-768-2265.

• Hours of operation are from 8 a.m. to 8 p.m. EST, Monday to Saturday.

• For customers with hearing/speech impairments, there is a dedicated relay service at 7-1-1.

1. International Calls:

• For customers calling from outside the United States, there is a local number: 1-401-824-3400.

1. Live Chat:

• Customers can use the live chat feature on the Santander website to get real-time assistance with their inquiries or problems.

1. ATM/Branch Locator:

• For information on ATM and branch locations as well as their hours of operation, customers can use the ATM/Branch Locator on the Santander website.

Santander's customer support is accessible through various channels, including phone, chat, and online resources, ensuring that customers have multiple options to address their banking needs and inquiries. The telephone support hours are accommodating, and they provide accessibility options for customers with hearing or speech impairments.

Summary

Santander UK Plc is a regulated financial institution under the United Kingdom's Financial Conduct Authority (FCA) with License No. 106054. They offer a diverse range of financial products and services, including current accounts, mortgages, credit cards, savings and ISAs, investments, insurance, and personal loans. Santander provides accessible customer support through telephone, live chat, and an ATM/Branch Locator, ensuring customers have various ways to seek assistance with their financial needs. Their customer service hours are from 8 a.m. to 8 p.m. EST, Monday to Saturday. Santander's comprehensive product offerings aim to meet a wide array of customer banking and financial requirements.

FAQs

Q: What types of current accounts does Santander offer？

A: Santander offers various current account options, including the Santander Edge Up, Santander Edge, Everyday Current Account, and specialized accounts for students and children.

Q: How can I contact Santander's customer support？

A: You can reach Santander's customer support by calling 1-877-768-2265 for general inquiries. For international calls, dial 1-401-824-3400. Alternatively, you can use the live chat feature on their website.

Q: Are there fees associated with Santander's current accounts？

A: Some current accounts may have monthly fees, such as £5 for the Santander Edge Up Current Account and £3 for the Santander Edge Current Account. The Everyday Current Account, however, has no monthly fee.

Q: What types of insurance does Santander offer？

A: Santander provides a range of insurance options, including home insurance, life insurance, health insurance, car insurance, and travel insurance, catering to various coverage needs.

Q: Can I apply for a personal loan from Santander？

A: Yes, Santander offers personal loans with fixed interest rates. You can apply for loan amounts ranging from £1,000 to £25,000, with flexible repayment terms. Eligibility criteria apply, and you can typically get a decision within 5 minutes.

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.