Deriv questionsUpdated 3 min readBy the FXNOD team
Deriv vs other trading platforms: what should you compare?
Compare Deriv with another platform on eight points: the regulator of the entity you would join, the products offered, the true cost per trade, minimum deposit and stake, payment methods in your country, the trading platforms, support for automation, and customer support. No broker is best for everyone, so compare on what you will actually trade.
The comparison table to fill in
| Point | Question to ask each broker | Deriv, in brief |
|---|---|---|
| Regulation | Which entity would hold my account, and who regulates it? | Several entities, regulated in Labuan, BVI, Vanuatu, Mauritius and the Cayman Islands |
| Products | Does it offer what I want to trade? | Options, multipliers and CFDs, including its own synthetic indices |
| Cost | What does one of my typical trades cost? | Built into the payout on options; spreads and swaps on CFDs |
| Minimums | What is the smallest deposit and trade? | Lowest deposit 5 USD; the stake minimum is shown on each contract |
| Payments | Which methods work in my country? | Cards, e-wallets, mobile money, crypto and Deriv P2P, varying by country |
| Platforms | Which software, and on which devices? | Deriv Trader, Deriv Bot, MT5, cTrader, a mobile app and others |
| Automation | Is there an API and a bot tool? | Deriv Bot, and an API that third-party tools use |
| Support | How do I reach a person, and when? | 24/7 live chat and WhatsApp |
What is distinctive about Deriv
- Synthetic indices. They are Deriv's own products and are not available at other brokers. Deriv describes them as available round the clock, including weekends.
- Fixed-payout options with small stakes and very short durations.
- Low entry amounts and payment methods aimed at regions many brokers serve poorly.
What to weigh against that
- Its named regulators are mostly offshore, where client protection is generally lighter than under major onshore regulators.
- Synthetic indices are priced by Deriv itself. You cannot check the price against another venue.
- Short fixed-payout contracts make it easy to place many high-risk trades quickly.
- Product availability varies by country.
Compare fairly
Decide what you will trade first
A broker that is cheap for forex may be irrelevant if you want synthetic indices.
Use the demo of each
On the same market, at the same time of day.
Cost one real trade
Your size, your holding time, all charges included.
Test a small withdrawal
Before you trust any of them with more.
A note on comparison sites
Many broker comparisons are paid for by referral commissions. That includes sites that rank a broker first. Check claims against each broker's own terms. FXNOD's tools work only with Deriv at present, so read this page with that in mind too.
Questions people ask
- Is Deriv better than other brokers?
- It depends on what you trade. It is the only place to trade its synthetic indices and has low minimums. A trader who wants onshore regulation or tight forex spreads may prefer another broker.
- Can I trade synthetic indices on another broker?
- Deriv's synthetic indices are its own products. Other brokers may offer their own simulated markets under different names and rules.
- Does FXNOD work with other brokers?
- Deriv is the only venue that is live in FXNOD. Tools for other venues are planned and are not available yet.
Use your Deriv account from FXNOD
FXNOD is an independent terminal for your own Deriv account. You sign in on Deriv's page, your balance stays at Deriv, and you can trade by hand or run a bot. Start on the demo account.
Get started