Note: Regrettably, the official website of DerivFx, namely https://derivfxtrade.com/, is currently experiencing functionality issues.
DerivFx Information
DerivFx, based in the United States and operating without regulation, provides a diverse array of trading instruments, accessible through multiple platforms like MetaTrader 5 and Deriv X. It offers competitive conditions such as high leverage and low spreads, along with commission-free trading. However, investors should consider the risks associated with trading on an unregulated platform and assess reliability issues indicated by the inaccessible official website.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros:
Wide Range of Instruments: DerivFx offers a comprehensive selection of market instruments including Forex, stocks, cryptocurrencies, and more.
Competitive Trading Conditions: The platform provides attractive features such as high leverage up to 1:1000 and tight spreads starting from 0.5 pips on major currency pairs.
Variety of Trading Platforms: Users have access to multiple trading platforms like MetaTrader 5 and Deriv X.
Demo Account Availability: A demo account is available for traders to practice and familiarize themselves with the platforms functionalities without financial risk.
Cons:
Lack of Regulation: DerivFx operates without regulatory oversight, which can raise concerns about investor protection and the reliability of the platforms operations.
Inaccessible Official Website: Reports of the official website being inaccessible suggest potential reliability issues and could disrupt trading activities for users.
Inactivity Fee: The platform imposes a $25 inactivity fee after 12 months of no trading, which may affect users who trade infrequently or experiment with longer-term strategies.
Limited Customer Support Channels: Customer support primarily relies on email communication, which may not provide immediate assistance compared to platforms offering live chat or phone support.
Is DerivFx Legit？
Investing with DerivFx carries significant risks due to several critical factors. Firstly, the absence of valid regulation means there is no oversight from a government or financial authority, which typically ensures that brokers adhere to stringent standards of operation and client protection. Regulatory oversight is crucial as it establishes guidelines that brokers must follow to safeguard investors' funds and ensure fair trading practices.
Furthermore, the inaccessibility of DerivFx's official website raises serious reliability concerns about their trading platform. A reliable and accessible website is fundamental for traders to execute trades, manage accounts, and access critical information.
Market Instruments
DerivFx offers forex, derived indices, stocks, indices, commodities, cryptocurrencies, and ETFs.
Forex (Foreign Exchange): Includes 38 currency pairs, covering major pairs (like EUR/USD, GBP/USD), minor pairs (such as AUD/CAD, NZD/JPY), and exotic pairs (for example, USD/TRY, EUR/TRY). This allows traders to speculate on currency exchange rate movements.
Derived Indices: These are indices that are derived from various underlying assets, allowing traders to speculate on the performance of a basket of stocks or other assets without owning them directly.
Stocks: DerivFx provides access to trading stocks of various companies listed on major stock exchanges globally.
Indices: Trading indices enable speculation on the performance of a specific stock market index, such as the S&P 500, FTSE 100, or Nikkei 225.
Commodities: This category includes trading in commodities such as gold, silver, oil, natural gas, etc. Traders can speculate on the price movements of these physical goods.
Cryptocurrencies: DerivFx offers trading in cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. This allows traders to participate in the digital asset markets.
ETFs (Exchange-Traded Funds): These are investment funds traded on stock exchanges that hold assets such as stocks, commodities, or bonds. ETF trading provides exposure to a diversified portfolio of assets.
Account Types
DerivFx offers three kinds of account types: DMT5 Account (Financial, Financial STP, and Synthetic); DTrader Account, and DBot Account. Demo accounts are available for practice purposes.
Margin Call: 100%
Stop Out Level: 50%
The Standard Account is designed for traders looking for flexibility with low initial deposits. It supports trading across a wide range of instruments including Forex, commodities, and cryptocurrencies.
Margin Call: 100%
Stop Out Level: 50%
Number of Assets: 150+
The Financial STP Account operates as a 100% A Book model, offering direct access to Forex liquidity providers. It is suitable for traders who prefer tight spreads and higher trade volumes across major, minor, and exotic currency pairs.
Margin Call: 100%
Stop Out Level: 50%
Minimum Deposit: $5
The Synthetic Account allows trading CFDs on synthetic indices, audited for fairness by an independent third party. It offers high leverage with low capital requirements, making it accessible for traders interested in synthetic markets. This account type operates 24/7, aligning with global trading hours.
Leverage
DerivFx offers traders the ability to trade with up to 1:1000 leverage, among the highest in the market. This high level of leverage allows traders to access large positions and potentially amplify their profits with smaller capital investments.
However, leveraging 1:1000 also means a high potential for both profit and loss. While it can significantly boost returns, especially when trading markets with a high level of shockability and volatility, it also significantly increases the risk exposure of the trader. If the market moves against the trader's predictions, the high leverage can multiply potential losses, which could ultimately lead to an account having insufficient funds and possibly financial losses that exceed the initial deposit.
Spreads & Commissions
DerivFx provides competitive trading conditions with spreads starting from 0.5 pips across various financial instrument. This low spread helps minimize trading costs, making it attractive for both beginners and experienced traders looking to capitalize on market movements efficiently.
DerivFx operates on a commission-free model. This means traders can execute trades without incurring additional costs beyond the spread, enhancing transparency in pricing and eliminating surprises related to commission fees.
Trading Platforms
DerivFx offers MetaTrader 5, Deriv X, Deriv cTrader, SmartTrader, Deriv Trader, Deriv GO, Deriv Bot, Binary Bot for its clients.
MetaTrader 5 (MT5): Known for its advanced charting tools, technical analysis capabilities, and algorithmic trading support, MT5 is favored by traders seeking robust trading execution across Forex, stocks, commodities, and cryptocurrencies. It offers customizable indicators, expert advisors (EAs), and a user-friendly interface suitable for both beginners and seasoned traders.
Deriv X: This platform offer a seamless trading experience across multiple asset classes, integrating advanced charting, order management, and risk management tools.
Deriv cTrader: Known for its intuitive interface and enhanced charting capabilities, cTrader provides access to a wide range of financial instruments with advanced order types and algorithmic trading options. It is favored by traders who value transparency, speed, and direct market access (DMA) for Forex and CFD trading.
SmartTrader: Positioned as a user-friendly platform, SmartTrader is designed for traders who prefer a simplified approach to trading. It offers basic charting tools, trade execution, and access to essential market data, making it suitable for beginners and traders focusing on straightforward trading strategies.
Deriv Trader: This platform is tailored for a trading experience on desktops, providing comprehensive market analysis tools, customizable layouts, and direct access to trade execution across all available asset classes.
Deriv GO: As a mobile trading app, Deriv GO offers traders the flexibility to monitor and execute trades on-the-go. It features essential charting tools, real-time market updates, and intuitive navigation, making it ideal for traders who prioritize accessibility and convenience without compromising functionality.
Deriv Bot and Binary Bot: These platforms cater to traders interested in automated trading strategies. Deriv Bot offers a range of pre-configured trading bots or tools to create customized automated trading algorithms, while Binary Bot focuses on binary options trading strategies.
Fees
Apart from offering competitive spreads starting at 0.5 pips and operating on a commission-free basis, the platform implements an inactivity fee of $25 after 12 months of no trading activity. This fee serves as a standard industry practice to motivate traders to either maintain active trading or withdraw their funds if they decide not to continue trading with the platform.
Deposits & Withdrawals
DerivFx offers a range of deposit and withdrawal options. Bank wire transfers are accepted, with minimum deposits starting at just $5, providing a convenient and traditional method for funding trading accounts. Credit and debit cards, including Visa and Mastercard, are also supported, with minimum deposits beginning at 10 USD/GBP/EURO/AUD.
For those preferring digital payment methods, DerivFx accepts e-wallets such as Skrill, Neteller, PaySafe, Fasapay, and WebMoney. These methods provide instant deposits starting at 5 of the trader's base currency.
Additionally, traders can deposit funds using cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Tether. There is no minimum deposit requirement when using cryptocurrencies, and payments are processed within three blockchain confirmations.
When it comes to withdrawals, traders can withdraw funds using the same methods they used to deposit, ensuring a seamless experience. Withdrawal requests are typically processed within a reasonable timeframe, allowing traders to access their funds in a timely manner.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Email: support@derivfxtrade.com
Address: IBM Building | 590 Madison Ave, Suite 2116 New York NY 10022
Conclusion
In conclusion, DerivFx presents itself as a trading platform with a broad spectrum of instruments and competitive trading terms. However, the absence of regulatory oversight, coupled with reported issues regarding website accessibility, underscores risks for traders.
Frequently Asked Questions (FAQs)
Is DerivFx regulated by any financial authority？
No. It has been verified that this broker currently has no valid regulation.
What is the minimum deposit required to open an account with DerivFx？
It require at least $5 to open an account.
What platform does DerivFx offer？
It offers MetaTrader 5, Deriv X, Deriv cTrader, SmartTrader, Deriv Trader, Deriv GO, Deriv Bot, Binary Bot.
Are there any fees associated with trading on DerivFx？
DerivFx operates on a commission-free model for trades. However, there is an inactivity fee of $25 if there is no trading activity for 12 months.
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
2024-08-26 10:54
2023-12-20 20:47
