- DTrader – web trading platform, accessible via your PC (desktop or laptop) and on your mobile browser.
- DMT5 – just like with Binary.com, you can access Deriv in Nigeria via the MetaTrader 5 third-party trading platform.
- SmartTrader – A third-party platform for doing tick trading.
- DBot – works just like the Binary.com’s Binary Bot. If you are a newbie trader or even an experienced trader looking to better his/her trading, you will find the DBot very useful as it delivers to you trading signals. The good thing about this is that it is customizable, and you can leverage it to create your own unique trading bot.
- Margin Trading – trading with leverage and low spreads.
- Options – here, you earn fixed payouts by predicting an assets price movement within a fixed time. This is where binary options falls.
- Multipliers – a hybrid system that combines the workings of both of margin trading and options.
Deriv.com gives you access to trade almost all assets listed on global financial markets, through the instrumentality of binary options.
Binary options are financial instruments that allow you as a trader to speculate on the direction of prices of assets in the financial markets. In simpler terms, binary options enable you to essentially ‘bet’ on the movements of prices of financial assets, such as commodities, currencies, stocks, bonds, amongst others, over a specific period of time.
A broker is an institution that plays the role of an ‘intermediary’ between traders in any financial market. Essentially, the broker ‘connects’ people who want to ‘buy’ financial assets to those who have the assets to ‘sell’ in any financial market. Although technological advancement has largely changed the face of how brokers and the brokerage business operate, the core of the broker’s work still remains to bring buyers and sellers together under a platform, so that binary trading Nigeria in assets listed across global financial markets can go smoothly. For doing the job of connecting those who want to buy to those who want to sell, the broker charges a commission called the spread, for each trade executed.
The process of choosing a binary options broker to trade with is an especially crucial one, as the choice of your broker can make or mar your trading. There are several brokers that you will find online with everyone promising you amazing offers and bonuses. However, not all are worth trading with. In fact some are outright scams. That does not rule out the fact that there are also many credible and trusted brokers; one of such is Deriv Nigeria.
Deriv Review Nigeria
Deriv.com is actually an offshoot of Binary.com, a widely respected and credible CFD and binary options broker founded in 1999. Just founded in 2020, Deriv.com is a relatively new binary options broker in the market. Binary.com Nigeria is actually undergoing some transformation to rebrand as Deriv.com; both still operate as separate platforms. But as far as ownership is concerned, Deriv.com has physical offices in Malta, Malaysia, the United Arab Emirates (UAE), Vanatu and the British Virgin Islands.
Deriv.com is seen as a subsidiary of Binary.com. Both platforms, however, share a whole lot of similarities.
Deriv.com purposes to be the one-stop derivatives trading platform offering everything derivative from binary options, futures, options, forex, commodities, amongst others.
Deriv’s trading platform is available in 11 languages including Chinese, English, Spanish, Italian, French, Dutch, and others.
Even though it is still new in the market, Deriv.com is fast becoming an important broker in the binary options industry as traders keep flocking unto its platform. For instance, in such a short time it has been able to get licensed by the International Financial Commission (FinaCom), one of the most important regulators of binary options Nigeria and CFD brokers globally.
It is also regulated by the Malta Financial Services Authority (MFSA), the Vanatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission.
Deriv.com is present in all countries where Binary.com does business – over 120 countries, including Nigeria.
This piece does an overview of Deriv in Nigeria – its services and features, minimum deposit, withdrawal and regulation, amongst others.
Before you login at all, you must have been registered on the platform. You can create a demo account or a live account. But we advise you to first create a demo account.
At the top of the home page, you find the red “Create Demo Account” banner. There are 2 methods of creating an account, namely:
Manual Method – You simply enter your preferred email; after which you receive a mail from Deriv.com directing you on further instructions.
Social Media Account – If you have either of your Google or Facebook accounts signed up into your browser, you can simply click on them. You are automatically signed in.
Deriv.com Nigerian Trading Platform
Deriv Nigeria provides a commendable wide array of channels through which you can connect to its trading platform. These channels are summarised below:
The Deriv.com trading platform comes with a number of technical analysis tools, price bands and indicators. If you are a new trader or you are reluctant to do manual trading, then you will find Deriv.com trading bot useful in making trading decisions. You can check Binary Options Robot Nigeria for alternative solutions.
They also provide an education platform to teach you the basics of trading binary options.
It should be however noted that Deriv Nigeria does not have any mobile app at the moment.
Deriv.com Available Markets
Deriv Nigeria goes beyond binary options. Deriv Nigeria is geared towards becoming your comprehensive derivatives trading platform. Currently on the platform you can trade over 100 assets spanning forex, commodities, synthetic indices, cryptocurrencies and of course, binary options.
Types of Trades with Deriv Nigeria
Deriv.com offers 3 main types of trades that traders can choose from; they include:
Unlike Binary.com, Deriv.com provides you with a $10,000 demo account with which you can do margin and options trading.
A binary options demo trading account is an account provided by the broker to you for free, that contains virtual money for you to use to trade.
There are a number of benefits that can be derived from demo trading.
For one, demo accounts give newbie traders the opportunity to practise their trading skills, before their own actual money/capital. Binary options options demo trading accounts allows you as a beginner trader to test, experiment and trade real market conditions with fake money. Thus you can make mistakes without any fear of liability.
Furthermore, binary options demo trading accounts allow prospective clients of a binary options broker to test its platforms before deciding to trade with that broker. You will be able to know specific styles that are peculiar to the particular binary options broker, such as their calculation of lot sizes, allowable margin and minimum risk amount.
To be able to trade a live account with Deriv.com, you need to deposit either $5 or $10 depending on the channel through which you are making the deposit. The maximum amount you can however be allowed to deposit is $10,000 – although the amount you can deposit through each channel differs. Deriv Nigeria has an array of deposit channels but you can only pay through USD, EUR, AUD, and GBP. The methods through which you can deposit capital into your Deriv binary options trading Nigeria account are countless.
Deposit Methods available with Deriv.com
Bank Wire and Money Transfer – available in USD, EUR, GBP and AUD. Internet banking payment/transfer is available via USD, GBP, and EUR. Minimum here ranges between $10 to $500 depending on the internet banking service you are using. Deposit processing time also ranges from instant to 1 working day (24 hours).
Card Payment – debit card payment is available for all of USD, GBP, EUR and AUD. Supported cards include Visa, Maestro, MasterCard and Diners Club International. For this, the minimum deposit amount you can put is $10. The processing time for deposits is Instant. However, Maestro and MasterCard payment are only available for UK clients.
Electronic Wallets – you can pay through FasaPay (USD), PerfectMoney (USD & EUR), Skrill (USD, GBP, EUR & AUD), Neteller (USD, GBP, EUR & AUD), WebMoney (USD & EUR), PaySafe Card (USD, GBP, EUR & AUD) and Qiwi (USD & EUR), amongst others. This is available for only USD payments. Generally for these, you only need $5 minimum deposit, with the exception of Skrill for which requires a minimum deposit of $10. Deposits via E-wallets should reflect in 24 working hours.
Cryptocurrencies – although recently introduced, Deriv.com is one of the first binary options brokers to facilitate cryptocurrency payments. Support coins include Ethereum, Bitcoin, Litecoin and Tether. There is no minimum deposit requirement.
With Deriv in Nigeria, the minimum amount you can withdraw is dependent on the withdrawal channel.
Withdrawal methods available with Deriv.com
- Bank transfer; note that this may take some considerable amount of time, sometimes running into days. The minimum here runs from $10 to $500, depending on the particular channel.
- Credit/Debit card; preferably one powered by either of MasterCard, Visa or UnionPay. Generally the minimum deposit is $10 and the maximum is $10,000.
- Electronic Wallets: FasaPay, PerfectMoney, Skrill, WebMoney, Yandex, Qiwi and Neteller. There is surprisingly no mention of PayPal. Minimum withdrawable is generally $5, while the maximum ranges from $180 to $10,000.
- Cryptocurrencies: You can withdraw via Bitcoin, Ethereum, Tether and Litecoin. Minimum withdrawal is $5 for Ethereum and Litecoin, and $25 for Bitcoin and Tether.
Apart from the above options, Deriv Nigeria has enabled another option of processing withdrawals through third-party agents; one of such is MyTopExchange.com. MyTopExchange is a third-party payment processor on behalf of Deriv.com. MyTopExchange is one among a number of third-party agents used by Deriv.com.
The process of withdrawing via MyTopExchange is summarised below:
- Inside your Deriv.com account dashboard, click on “Cashier”.
- Inside the “Cashier” page, scroll down to “Payment Agent” and click Withdraw.
- Inside the Payment Agent Withdrawal page, select MyTopExchange.com from the list of Payment Agents.
- Enter the Amount in US Dollars you want to Withdraw and click “Submit”.
- Visit www.mytopexchange.com website and Login to your account profile. If you don’t have an account already on the website, click on “Register” and follow through the registration process.
- Inside your MyTopExchange Account dashboard, at the left-hand side of your screen, click on Withdraw from Deriv.com. Fill the form inside the page and clicks the Submit button.
Immediately your funds are received from Deriv.com, MyTopExchange will make payment to your bank account instantly without any delay.
Deriv.com is not directly regulated in Nigeria. However, Deriv.com is a binary options broker with a global presence, serving over 120 countries of which Nigeria is one. As such, it does not make so much of a practical sense to be regulated by authorities in all countries where it does business.
Is Deriv a Scam?
With all you might have read above, you will be rest assured that Deriv Nigeria is not a scam broker.
For one, most scam brokers are not registered with the right authorities. This is not the case with Deriv Nigeria. Deriv.com is licensed by the Malta Financial Services Authority (MFSA), the Vanatu Financial Services Commission (VFSC), the British Virgin Islands Financial Services Commission as well as the European Financial Services and Markets Authority (FSMA). To crown all of these, it recently got registered with the International Financial Commission (FinaCom), an international independent regulator of financial markets services providers.
By virtue of its registration with these bodies, Deriv in Nigeria is bound by their rules and regulations geared towards preventing binary options brokers from engaging in any acts that would not be in the best interest of their clients. Make sure to stay away from scams like Bitcoin Revolution App Nigeria.
Deriv Nigeria has also earned some high level of credibility. It was found based on 20+ years of experience in the financial markets space; but within a short time it is slowly earning its own track record. Currently, it has over 1 million traders signed up on its platform. We strongly believe 1 million people will not sign up and continue to trade with a scam broker.
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