FAQ- Frequently Asked Questions About Deriv Platform; Know The Details
New traders frequently ask questions about Deriv platform to clear up their internal confusion. They primarily conduct searches and post queries in various trading forums and groups. Moreover, hundreds of emails have been received by our team regarding platform usage, trustworthiness, and a variety of other issues.
We think you should be aware of the fact that a lot of people don’t feel safe when they trade on the Deriv platform. Mainly because they don’t know what Deriv is. So, we have assembled this page to solve the problem and fill the demand. It serves as a robust repository of answers that will help you evaluate Deriv.
And the information contained herein will help answer multiple questions about how things work on the platform.
Frequently Asked Questions About Deriv
It’s completely understandable that everyone has their own fears, questions, and concerns regarding platforms. To avoid such issues, we have decided to create an FAQ article on our blog.
The article is for common yet relevant questions about Deriv.
It will definitely facilitate new users to gain insight into the platform without confusion. Also, it will quench the curiosity of advanced users as well.
The Deriv platform has been around since 1999; it’s not new, and it’s not going anywhere.
Platform And Account
Let’s look at some of the most common questions traders have about the Deriv platform and account verification:
1. Is Deriv Platform Regulated?
Yes, Deriv is a multi-regulatory holder. Mainly, it is a new platform that is actually a re-branding of Binary.com.
- Binary (V) Ltd is licensed and regulated by the Vanuatu Financial Services Commission.
- Binary (BVI) Ltd is licensed and regulated by the British Virgin Islands Financial Services Commission.
- Labuan Financial Services Authority licensed and regulated Binary (FX) Ltd. to carry on a money-broking business.
- Binary Investments (Europe) Ltd is regulated as a Category 3 Investment Services provider, by the Malta Financial Services Authority, under license number IS/70156.
2. Why Can't I Create An Account?
You need to fulfil certain criteria to open an account.
- Clients have to be at least 18 years of age.
- Clients cannot be residents of Belarus, Canada, Hong Kong, Israel, Jersey, Malaysia, Malta, Paraguay, Rwanda, UAE, USA, or a restricted country. These mentioned countries are identified by the Financial Action Task Force (FATF) as having strategic deficiencies.
3. How Can I Change My Account's Currency
Once you have made a deposit or created a DMT5 account, you can only change your currency by contacting Customer Support.
4. What Is A Dormant Fee?
A dormant fee is a charge applied to any account that has not made a transaction in the previous 12 months.
It’s not applicable if the client is under self-exclusion, either by their own choice or by the company’s decision.
5. How Much Is The Sign-Up Fee?
Well, there is no sign-up fee required to open an account. Opening an account is entirely free.
6. Do I Need To Verify My Account?
No, you do not need to verify your account unless required. If your account needs to be verified, the Deriv team will email you to start the process. Also, they will give you step-by-step instructions on how to submit your documents.
7. How Do I Get Verified On Deriv?
- National ID card (for Personal identity verification)
- Bank Statement (for address verification)
- Holding ID documents with your face (selfie)
8. Can I Open Multiple Accounts?
No, you can’t open more than one account. The team reserves the right to block or withhold the funds and/or suspend or close the account without prior notice.
9. What Is The Verification Time-frame?
The verification process takes 1-3 business days to review documents. Deriv will inform you of the result via email once it’s done.
Deposit & Withdrawals
Trades have the utmost concern about deposits and withdrawals. As a result, we created this section to cover all the important & frequently asked questions about deriv platform’s deposit and withdrawal.
1. What Payment Methods Do They Support?
Deriv supports a variety of deposit and withdrawal options, including online banking, credit and debit cards, e-wallets, Fiat onramp, Deriv P2P, and cryptocurrencies.
2. What Is The Minimum Deposit & Withdrawal Amount?
The minimum deposit and withdrawal amounts are $5 using a bank wire transfer. Moreover, there are other payment methods available with different minimum amounts.
But there is no minimum amount for cryptocurrency deposits.
3. How Long Does It Take To Process?
Deriv aims to process your deposits and withdrawals within a business day (Monday through Friday, 9:00 am–5:00 pm GMT+8).
But, sometimes, the process takes a long time depending on your bank or money transfer service.
4. Can I Withdraw My Deposit Bonus?
Once you’ve made a 25-times-the-bonus-amount account turnover, you can withdraw the free bonus money.
5. How Do I Check My Pending Withdrawal On Deriv?
First, log in to your Deriv account and click on Cashier to check the status. Click on Withdrawal. An email will be sent to you asking you to confirm your withdrawal request.
Frequestly Asked Questions About Deriv - General Queries
As the trading community grows, so do the questions: Should I choose Deriv over my current trading platform? Is it safe?
That’s why we’ve taken the time to answer these questions.
1. Is Deriv A Good Trading Platform?
According to the trader’s review, Deriv is one of the best trading platforms. It is a trustworthy broker that’s regulated in multiple jurisdictions.
Even, the broker has a strong community that helps millions of traders by informing them how excellent and straightforward the platform is.
2. Is Deriv Accept USA Traders?
No, Deriv doesn’t accept USA traders.
3. Does Deriv Support Mobile App?
Yes, Deriv has a mobile app named Deriv GO. It is optimized for trading multipliers on the go: trade forex, synthetic indices, and cryptocurrencies to maximize potential profit while limiting risk.
Final Words
Deriv is the largest and most popular trading platform that offers multiple trading types. Its popularity is a never-ending process. On the other hand, it is a robust platform with sophisticated trading tools that can be applied to both experienced and amateur traders.
We are also happy to announce that the team is dedicated to ensuring that your trading experience is safe and seamless.
So, to enlighten you more, team Binoption designed the frequently asked questions about Deriv So, you are all welcome to open your account with the Deriv platform.
