Are you familiar with Binary.com?
Well, it is now known as Deriv. Like Quotex, Deriv allows you to make money by predicting where the asset’s price will be after a specified period.
Inside this platform, you get access to CFDs and other derivatives on Forex, stocks & indices, cryptocurrencies, and commodities.
This company has its operational headquarters in Cyberjaya.
Is your money safe with Deriv?
Well, this trading platform is regulated through Malta Finance Services Authority (MFSA), Labuan Financial Services Authority (LFSA), Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission (BVIFSC).
And considering the platform boasts 2.5M+ traders worldwide, it gives you an idea of their legitimacy.
Who can trade on Deriv?
To answer this question, let’s first look at who cannot.
If you are in any of the following countries, you CANNOT use the Deriv trading platform.
- Hong Kong
How to start making money on Deriv
Either way, let’s look at the steps in brief.
To make money trading options on Deriv, start by picking the market you’d wish to trade.
This can either be Forex, stocks & indices, commodities, or derived.
Once you know the market, the next step is to select your preferred trade type.
Inside Deriv, you can choose between Up and Down, High and Lows, and Digits, among others.
The next step to trade options on Deriv is to pick duration.
Now, depending on whether you have entered a long or short market view, you can set the trade duration starting from 1 to 10 ticks or 15 seconds to 365 days.
And finally, enter the stake amount to receive the payout quote.
If you want something else, like maybe you have a payout number in mind, go ahead and set that number and you will receive a price quote.
This will be as per your stake amount.
To finish this, purchase a contract.
To do this, you need to finally place an order.
What is the minimum deposit on Deriv?
The minimum amount you can deposit to your Deriv account varies based on the payment method.
Either way, the lowest amount you can deposit is $5 (EUR/GBP/AUD) if you are using e-wallets.
For credit/debit cards, the minimum deposit amount is 10 USD/GBP/AUD/EUR.
And if you’d rather use crypto, you’d be delighted to know that there are no minimum deposits!
While still on deposits, let’s talk about Deriv promo codes.
What is the promo code?
In the context of Deriv, a promo code is a special code you get, and whenever you use it, you receive additional funds on your deposits.
Think of it as a discount code. But instead of reducing the price, it adds something on top of it.
For example, if you get a 50% Deriv promo code, you get 50% more of the deposit amount.
So if you are depositing, say, $100 to your Deriv account, if you get the 50% promo code, you get free $50, which means your account will end up $150 richer!
Deriv Promo Codes
As much as that sounds interesting, the bad news is that Deriv currently doesn’t offer any promo codes.
But don’t fret though; this can change at any time, and the good news is, we will be the first to let you know. So make sure you bookmark this page not to miss any.