Deriv.com Review

1.169 • 21 REVIEWS
Binary (SVG) Ltd
Updated: Sep 27, 2022
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1.169 • 21 REVIEWS

Traders Reviews

J
Ogun, Nigeria,
Sep 10, 2022,
Registered user

You'll lose all your money

Service use: Live Length of use: over 1 Year
My first experience with trading was with synthetic indices, I've been trading synthetic indices since 2020. Deposited so many times but this company is just running its business, to take your money only!

You'll believe it's you making wrong trades but no, synthetic indices is made to wreck you. I've lost so much before I realized the true colors of this company. Synthetic trading is scam. I cursed the day I started trading it. Trading is not always profitable but what are the odds of all trades hitting stop loss?? Many sleepless nights thinking one day I'll be profitable, my time and all... Also affected my performance in my studies.

At this point I wish I could go back in time and fix my mistake because it's clear is. Many people are still losing money to this broker I pray they see this review soon and for you about to start trading synthetic trading, please reconsider!
M
Lagos, Nigeria,
Aug 16, 2022,
Registered user

A dishonest and crafty broker

Service use: Demo Length of use: over 1 Year
In 2014, when Deriv was formerly under binary.com, they offered nice and excellent services. But after the migration, they went from TOP to BOTTOM real fast. I remembered introducing friends to the broker, and it drained them of their funds through manipulation of servers and dishonest customer agents.

My account was dormant until i decided to verify my account. They came with stories, telling me that my documents are not legit. i was shocked! My government-issued documents? Not legit?

I just made the decision to delete my account, and i never regretted that decision, despite the binary markets which attracted me to it initially.

If you are looking for a good broker, and you found Deriv, you better ditch that decision!
S
Kenya, Kenya,
Dec 14, 2021,
Registered user

r

Service use: Live Length of use: 6-12 Months
deriv is a pure scam, easy to deposit, impossible withdrawal, they don't even spare small accounts, terrible broker
I
Kampala, Uganda,
Dec 6, 2021,
Registered user

DERIV WITHDRAWAL NIGHTMARE

Service use: Live Length of use: over 1 Year
Hello FPA,

Deriv has the most horrible customer service I have ever experienced in all my years of trading.

I funded my Deriv account with USD 2500 in October 2020 and after about 12 months of trading I had lost about USD 1,700 of that money.

In September 2021, with only USD 720 left in my trading account, I called it quits and decided to withdraw all my remaining money.

And this is when my nightmare with Deriv started.

For close to 4 months now, Deriv has refused to give me my money. They have locked my account and I am unable to withdraw my remaining USD 720.

Deriv initially said that I needed to verify my account inorder to withdraw my money.

In my experience account verification is a very simple process that I have done numerous times with other brokers so I already knew what needed to be done and had my verification documents ready.

Deriv asked for proof of identity, and I provided my national ID which they finally accepted after several submissions.

Deriv asked for a selfie of me holding my ID which I provided.

Deriv asked for proof of residence, and I provided my bank statement, which they initially rejected.

So I provided a clearer bank statement which they also rejected on grounds that it was not signed by the bank manager.

So I went to my bank, got the bank statement and had the bank manager sign and stamp it.

Deriv then rejected my signed and stamped bank statement on grounds that they require a bank statement that shows my full name and address.

And this is where I begin to wonder whether these customer representatives at Deriv are either blind, illiterate or simply morons.

They said the bank statement was not signed. On getting the bank statement signed and stamped, then suddenly they became blind and could no longer see my name and address on the very same bank statement.

For close to 4 months now, Deriv has repeatedly come up with excuse after excuse and they have refused to give me my money.

Imagine I am not even withdrawing profits. I am withdrawing my initial capital after I have already lost over 70% of my money trading their synthetic indices and now that I want to withdraw the remaining USD 720 in my account, Deriv wants to scam me.

Do not trade with Deriv. I repeat. Do not trade with Deriv.

This industry has lots of other brokers that will treat you better and with all the beatings that candlesticks give us in this profession of ours, we at least deserve to be treated well by our brokers.
2 traders have found this review helpful
M
Makkah, Saudi Arabia,
Nov 28, 2021,
Registered user

they opened an account for me without my consent

Service use: Other Length of use: Have not used
on 09/11/2021, i got an email from deriv about the latest news about the market. I didn't know who are they and what deriv is. I googled Deriv and found out that they're a broker. not only that, but they're linked to another suspicious broker which is binary.com
be careful. this is extremely suspicious.
W
Attock, Pakistan,
Nov 21, 2021,
Registered user

Pure Scam Company

Service use: Live Length of use: 3-6 Months
Do not invest your hard earning in this pure scam company, You money will be accepted very quickly but you will get your money at day of judgement. It will look like your money doubling in a day but real problem will face you when you will get your money. All the 1 star reviews here are really true. If you think I am fake then come and taste it by your self.
M
Msure
Morogoro, Tanzania, United Republic of,
Oct 19, 2021,
Guest

Terrible Customer service, almost impossible to withdraw funds

Service use: Live Length of use: 6-12 Months
Avoid these guys by all means! Quite unprofessional in customer care, you will have to chart with droid first and then wait for ages to get access to the human being who may come without answers!

Easy to deposit but almost impossible to withdraw!

You have been told! Avoid them
S
Harare, Zimbabwe,
Aug 4, 2021,
Registered user

Pure scammers out to get your money!!!

Service use: Live Length of use: 3-6 Months
Tried trading currencies with deriv but they give horrible fills. The offer and bid price you see and place Market order will not be the ones that get filled. Even if price gets past your filled price, you'll still be in loss only to see profits when the price has moved substantially in your direction. Went off to try using price action on their synthetics found out they manipulate it too. Trading with deriv is the best way you can get scammed and left broke.
1 trader has found this review helpful
T
Chiang Rai, Thailand,
Jun 15, 2021,
Registered user

Deriv tells how to win trading their instruments!

Service use: Live Length of use: over 1 Year
In addition to my previous reviews I might add Deriv gives the exact way to win in trading their synthetic assetts. Why do they do this? Because they know most are not traders but gamblers and will not even read the free pdf! In addition to that, they know one must know how to trade, in order to be profitable over time. So, why not learn at Deriv? I am. Enjoy.

PS I can withdraw using Neteller/Bitcoin/Skrill on Deriv, to address some concerns, and there is no delay.

Jan 31, 2021 - 5 Stars Last time I reported deriv.com had improved the servers, this was premature, they got worse and worse, but now they are 100%! The company finally implemented a distributed server system, very good!

At this time I am happy to report deriv.com is one of my top brokers. They process withdrawals in Neteller/Bitcoin in a timely fashion. A win is a win, a loss is a loss. Someone spoke of price manipulation, really now? Since they publish the price movements on an independent web url for any to see, they cannot be changing prices for individual clients, so you must either manage your risk, or suffer, like any other market. As for the question what prices are based on, well, it is a synthetic derivative, can be based on a number of things, most of them, if not all, are ARTIFICIAL, if you are confused, Google might be your best friend today!

BTW - Deriv processed refunds based on the server downtimes and losses that occured, so my respect and commitment to this broker has dramatically increased.

All in all, I will be having my funds and trading with Deriv for the foreseeable future. And thank you so so much for fixing the servers!

Aug 17, 2020 - 3 Stars I agree, the move to automated only customer support is most likely hurting the company. They seem to have fixed the server lag issues (order not being processessed in a timely fashion leading to detrimental slippage), and have made the spreads reasonable (at first they were very good some months back, then they switched to unreasonable for a while and now they are in the middle, there is still great drawdown for each trade opened, immediately, due to spreads).

I disagree about not being able to get paid/withdrawals. The company has processed a few withdrawals for me. All of them were processed within a day. It seems the Neteller/Skrill process is either fully or semi automated. As for the bank wires those require a certain amount and you willl need to work that out with support, and it will take time.
1 trader has found this review helpful
E
Owerri, Nigeria,
Jun 13, 2021,
Registered user

Deriv and binary.com are the same. 100% scam

Service use: Live Length of use: 0-3 Months
They will always create a fake charts to run after your stop loss and if you don't use stop loss, then the market will head opposit direction all of a sudden without returning i lost over $2000 there. Just be wise and trade with a very serious caution if you wish to use this broker. 100% manipulation
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