Trade CFDs On A Intuitive, User Friendly Platform
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Deriv X Financial CFD Account Review
Deriv is the rebranding of Binary.com and offers a range of user friendly platforms. Its platform offering includes MT5 under the MT5 tab on the Deriv platform. Deriv however also provides its own user friendly platform, called Deriv X. Deriv X provides an intuitive, visually attractive online trading platform for the markets available to trade on MT5.
This review covers CFDs available on Deriv X based on real markets. To see a review of Synthetic Indices on Deriv X, the trader can consult the Deriv X Synthetic Indices Review.
| Feature | Deriv Platform | Description |
|---|---|---|
| Discretionary Trading Trading Type | Deriv X, MT5 Deriv Platforms | Traders who want to plan and execute their own trades may do so on Deriv X, MT5 or cTrader, however Deriv X is designed for these kinds of traders, offering a user friendly interface, analysis tools, risk management tools and a dynamic Trading Journal Description |
| Margin Trading Account Feature | Deriv X, MT5, cTrader Deriv Platforms | Deriv X, MT5 and cTrader offer CFD trading on margin, with leverage up to 1000:1 Description |
| Automated Trading Trading Type | MT5, cTrader Deriv Platform | Automated trading is available on MT5 and cTrader Description |
| 24/7 Trading Platform Feature | Deriv X, MT5, cTrader Deriv Platforms | 24/7 trading is offered on Deriv X, MT5 and cTrader, with Synthetic Indices and Crypto CFDs Description |
| Synthetic Indices Market To Trade | Deriv X, MT5, cTrader Deriv Platforms | Deriv offers a wide range of Synthetic Indices on Deriv X, MT5 and cTrader Description |
So the trader can trade CFDs on MT5, cTrader and on Deriv X depending on how they want to trade these markets (some features may not be available in some regions). MT5 has a wide range of capabilities but the trader may want to use a platform geared for the trader who makes their own decisions. Deriv X is also available as a mobile app. Deriv Sign-Up
What markets can be traded ?
Forex, Indices, Energy, Metals, Stocks, ETFs and Cryptocurrency CFDs are available, with 100+. There is quite a wide range of Metals offered, including Alumnimum, Zinc, Nickel and Lead.
What is Deriv X like ?
Deriv X is a full featured web trader, carefully designed to be both easy and intutive to use but with a wide range of features. These include a Trading Journal, which segments trading activity and a Technical Indicator tab, where indicators are applied on a range of charts.
The trader can themselves apply a wide range of technical indicators to the chart and analyse markets using the laboratory flask symbol to be found from the tab of the chart. There are in fact 85+ technical indicators. Time frames from 1 minute to 1 month and Bar, Candle and Line chart price types are offered and a range of graphical tools (for drawing trend lines on the chart, and so on).
There is a Trading Dashboard, which clearly shows metric such as Risk/Reward Ratio, Max Drawdown, Win Rate, % Return and other helpful ways to analyse the trader's performance. Deriv X allows the trader to customise their trading experience but also automatically presents data in a clear easy to understand manner.
The interface is arguably visually attractive and offers a range of colours to help clarify information. So the platform aims to provide complex information in a clear, easy to understand way. Deriv Sign-Up
What is the minimum deposit ?
There is actually no minimum deposit to use Deriv X (or DMT5). The trader first creates a Deriv account and then a Deriv X and DMT5 account. They then fund the Deriv X or DMT5 account from their Deriv account. The Deriv account is denominated in a fiat chosen by the trader at account creation. The minimum deposit for the fiat Deriv account is $5. The Deriv X and DMT5 accounts are denominated in USD. The trader then moves funds in and out of the Deriv X or DMT accounts.
There is a wide range of deposit methods offered, which vary depdending on the trader's region. These can include Bank Wire, Credit/Debit Cards, Skrill, Neteller, Fasapay, Perfect Money, WebMoney, Paysafecard, Jeton, STICPAY, Airtm, Help2Pay, PayLive and OnlineNaira.
In some regions Crypto denominated accounts are offered, so the trader can fund for example a Bitcoin account with Bitcoin and then fund the Deriv X account from it. If they are available, Bitcoin, Ethereum, Litecoin, Tether Omni and USD Coin accounts are offered.
Demo account
The trader can test out the platform on the Demo account, which has $10,000 of virtual funds (this is not real money) to practice trading without risk. Deriv Demo
What Crypto CFDs are offered ?
When trading a Crypto CFD, the trader does not own any Crypto and thus does not need a wallet. Leverage is available up to 50:1 (increasing leverage increases risk and Cryptos are extremely volatile). Deriv X and MT5 have a relatively wide range of Crypto CFDs to trade. These are: ADA/USD, ALG/USD, AVA/USD, BAT/USD, BCH/USD, BNB/USD, BTC/USD, BTC/ETH, BTC/LTC, DOG/BTC, DOT/USD, DSH/USD, EOS/USD, ETC/USD, FIL/USD, IOT/USD, LNK/USD, LTC/USD, MKR/USD, MTC/USD, NEO/USD, OMG/USD, SOL/USD, TRX/USD, UNI/USD, XLM/USD, XMR/USD, XRP/USD, XTZ/USD and ZEC/USD. These markets can be traded 24/7, including at weekends.
| Market | Deriv Accounts | Description |
|---|---|---|
| Forex Market | Deriv X, DMT5 Deriv Accounts | Forex pairs are offered in two types, standard and micro. The micro pairs are denominated in micro lots so offer a smaller trade size of 0.001 lots. Description |
| Cryptos Markets | Deriv X, DMT5 Deriv Accounts | A wide range of Crypto CFDs are offered to trade 24/7, including at weekends. Description |
| Metals Markets | Deriv X, DMT5 Deriv Accounts | A relatively wide range of Metals CFDs are offered, including Precious Metals, Zinc, Lead and Aluminium Description |
| Energy Market | Deriv X, DMT5 Deriv Accounts | Oil CFD trading is available Description |
| Indices Market | Deriv X, DMT5 Deriv Accounts | Smart FX Indices are available as well as a Gold Index Description |
| ETFs Market | Deriv X, DMT5 Deriv Accounts | Exchange Traded Funds (ETFs) are offered Description |
| Stocks Market | Deriv X, DMT5 Deriv Accounts | Popular Stocks CFDs are offered Description |
Why Deriv X ?
Deriv X takes the Deriv platform to a new level, by fitting in another element of the overall platform experience, that is an advanced intuitive platform for trading CFDs, to complement the power and capabilities of the DMT5 account. The trader can easily switch between these accounts and try CFD trading either on MT5 or the Deriv X platform. Deriv X has features to help make the trading experience clearer, including performance metrics. It offers markets including 24/7 trading of Cryptocurrency CFDs. For traders who want to trade with lower trade sizes, it has micro Forex pairs, with lots sizes down to 0.001 lots. Leverage is offered up to 1000:1 (increasing leverage increases risk) and there is no minimum deposit to fund the Derix X account.
