Through the instrumentality of binary options, Deriv.com gives you access to trade in almost all assets listed on global financial markets.
Binary options are financial tools that allow you to bet as a trader on the movement of asset prices in the financial markets. In simpler terms, binary options allow you to basically ‘bet’ on financial asset price movements, such as commodities, currencies, stocks, bonds, among others, over a particular period of time.
A broker is an entity that, in any financial market, plays the role of a ‘intermediary’ between traders. Basically, in every financial market, the broker’ connects’ individuals who want to ‘buy’ financial assets to those who have the assets to ‘sell’. Although technological progress has largely changed the face of how brokers and the brokerage business operate, the foundation of the broker ‘s work still remains bringing buyers and sellers together under a system, so that trading in assets listed across global financial markets can go smoothly. The broker charges a commission called spread, for every trade conducted, for doing the job of matching those who want to buy to those who want to sell.
The method of picking a broker with whom to trade binary options to is particularly important, as your broker ‘s choice will define or destroy your Profitability in trading. sWith every broker offering you great deals and incentives, this choice starts to get difficult to make. Not all are, however, worth trading with. Some are simply blatant scams. That does not rule out the fact that there are also many trustworthy and trusted brokers; Deriv Kenya is one of these.
In reality, Deriv.com is an extension of Binary.com, a highly known and reliable broker established in 1999 for CFD and binary options.
Established in 2020, Deriv.com is a relatively new broker for binary options. In reality, Binary.com is undergoing some rebranding transition as Deriv.com; both still work as separate platforms. Yet Deriv.com is seen as a subsidiary of Binary.com as far as ownership is concerned. However, both sites share a whole lot of similarities.
Deriv.com aims to be a one-stop trading site for derivatives that provides everything from binary options, futures , options, forex, commodities, among others.
Deriv.com has physical offices in Malta, Malaysia, the United Arab Emirates (UAE), Vanatu, and the British Virgin Islands. Deriv ‘s trading platform enables you trade in 11 different languages, such as Dutch, English , Chinese, Spanish, Italian , French, and others.
Although it is still new to the market, as traders keep flocking to its website, Deriv.com is rapidly becoming an important broker in the binary options industry. For instance , the International Financial Commission (FinaCom), one of the most significant regulators of binary options and CFD brokers worldwide, has been able to get licensed it in such a short time.
Also it is governed by the Malta Financial Services Authority (MFSA), the Financial Services Commission of Vanatu (VFSC) and the Financial Services Commission of the British Virgin Islands.
Deriv.com is present in and available to traders in at least 120 countries, one of which is Kenya. Here we do an overview of Deriv in Kenya and its services and features, minimum deposit, withdrawal and regulation, and many others.
Before you login at all, you must have been registered on the platform. You can create a demo account or a live account; however no matter which you go for, you will automatically be given a demo account for free.
At the top of the home page, you find the red “Create Demo Account” banner.
There are 2 methods of creating this account, namely: the manual form fill-in method and the social account sign-in method.
Manual Form Fill-in Method
With this, you simply enter your preferred email; after which you receive a mail from Deriv.com directing you on further instructions.
Social Account Sign-in
Here, you can use your social media accounts. If you have either of your Google or Facebook accounts signed up into your browser, you can simply click on them. You are automatically signed in, and you have your account.
Deriv.com Trading Platform
In case you are confused as to what a trading platform is, a trading platform is a computer program or software provided by the binary options broker upon which you make binary options trades.
That is, the channels through which you access the binary options broker’s brokerage services and from where you will be able to make trades. Typically such a platform should be accessible via a device – mobile (smart) phone or a PC and other ancillary devices.
Deriv.com Kenya provides a wide variety of channels through which you can connect to its trading platform.
One of them is the DTrader which is the Deriv web trading platform, accessible via your PC (desktop or laptop) and on your smartphone browser.
There is also the DMT5. With Binary.com (Deriv’s parent company), you can access trading services via the MetaTrader 5 third-party trading platform. This is also the case for Deriv in Kenya.
One more service that Deriv has is the DBot which works just like the Binary Bot produced by Binary.com. If you are a newbie trader or even an experienced trader looking to better his/her trading, you will find the DBot very useful as it delivers to you trading signals.
The good thing about this is that it is customizable, and you can leverage it to create your own unique trading bot.
The Deriv.com trading platform comes with a number of technical analysis tools, price bands and indicators. If you are a new trader or you are reluctant to do manual trading, then you will find Deriv.com trading bot useful in making trading decisions.
They also provide an education platform to teach you the basics of trading binary options.
It should be however noted that Deriv Kenya does not have any mobile app at the moment.
The Markets You Can Trade on Deriv.com
Deriv Kenya provides services far beyond binary options. Deriv.com Kenya makes jts aim to become towards a one-stop derivatives trading platform, where you can access all forms of derivative trading. Currently, on the platform you can trade over 100 assets spanning forex, commodities, synthetic indices, cryptocurrencies and of course, the binary options for which it is popularly known.
As a result of the above, there are different types of trades that can be made on the Deriv trading platform.
Deriv.com offers 3 main types of trades that traders can choose from; they include:
1) Margin Trading
This involves trading with leverage and low spreads.
Wjen you trade options, you earn fixed payouts by predicting an assets price movement within a fixed time. It is under this that binary options falls.
This is a hybrid system that combines the operating mechanism of both the margin trading and options trading.
Deriv Demo Account Kenya
A binary options demo trading account is an account provided by the broker to you for free, that contains virtual money for you to use to trade. There are several benefits that can be derived from trading a binary options demo account.
1) Allows You to Practice Your Binary Options Trading Skills
For one, demo accounts give newbie traders the opportunity to practise their trading skills, before their own actual money/capital. Binary options demo trading accounts allows you as a beginner trader to test, experiment and trade real market conditions with fake money. Thus you can make mistakes without any fear of any liability on your part.
2) To Test A Binary Options Broker’s Platform
Furthermore, before you open a binary options trading account with a broker, you might want to test the broker and how things work with such broker.
Binary options demo trading accounts allow prospective clients of a binary options broker to test its platforms before deciding to trade with that broker. You will be able to know specific styles that are peculiar to the particular binary options broker, such as their calculation of lot sizes, allowable margin and minimum risk amount.
As we know Binary.com does not give traders any demo account. However, Deriv.com upgraded from this by providing you with a $10,000 demo account with which you can do margin and binary options trading.
Deriv Minimum Deposit in Kenya
To be able to trade a live account with Deriv.com, you need to deposit into your live account. The minimum amount required of you to deposit differs on the channel through which you are making the deposit. As such the minimum amount might either be $5 or $10, depending on the deposit platform. The maximum amount you can however be allowed to deposit is $10,000 – although this can differ based on the channel you use to make such deposit.
The Channels through which you can Deposit into Deriv.com Account in Kenya
Deriv Kenya has an array of deposit channels but you can only pay through USD, EUR, AUD, and GBP.
The methods through which you can deposit capital into your Deriv Kenya binary options trading account include:
– Bank Wire and Money Transfer
This is available in USD, EUR, GBP and AUD.
Internet banking payment/transfer is available via USD, GBP, and EUR. Minimum here ranges between $10 to $500 depending on the internet banking service you are using. Deposit processing time also ranges from instant to 1 working day (24 hours).
– Card Payment
Debit card payment is available for all of USD, GBP, EUR and AUD. Supported cards include Visa, Maestro, MasterCard and Diners Club International. For this, the minimum deposit amount you can put is $10.
The processing time for deposits is Instant.
However, Maestro and MasterCard payment are only available for UK clients.
– Electronic Wallets
You can pay through FasaPay (USD), PerfectMoney (USD & EUR), Skrill (USD, GBP, EUR & AUD), Neteller (USD, GBP, EUR & AUD), WebMoney (USD & EUR), PaySafe Card (USD, GBP, EUR & AUD) and Qiwi (USD & EUR), amongst others. This is available for only USD payments. Generally for these, you only need $5 minimum deposit, with the exception of Skrill for which requires a minimum deposit of $10.
Deposits via E-wallets should reflect in 24 working hours.
Although recently introduced, Deriv.com is one of the first binary options brokers to facilitate cryptocurrency payments. Support coins include Ethereum, Bitcoin, Litecoin and Tether. The good thing about cryptocurrency payment is that there is no minimum deposit requirement.
Deriv Withdrawal Kenya
The channels through which you make deposit into your Deriv.com Kenya trading account are also exactly the same channels through which you make withdrawal of your profits.
The minimum amount that you can withdraw away from your account at a time is also dependent on the deposit channel you made use of.
Is Deriv Legit in Kenya?
The bountiful benefits that one can reap from binary options trading are much; these have made it really popular. However despite this, it is not allowed in a number of countries as a result of government legislation banning it.
However there are no express legislations by the Kenyan government banning binary options trading, and thus we can safely say that it is allowed.
Deriv.com is available and legit in almost all locations where binary options trading is not banned by the government. One of such places is Kenya. Thus, Deriv.com is legit and legal in Kenya.
Is Deriv.com a Scam?
Deriv Kenya is definitely not a scam, as it does not possess any of the attributes of scam brokers.
One of the most important attributes of scam brokers is that they lack credibility; most of them are usually new to the binary options brokerage business. However, Deriv Kenya in this case has quite a history behind it as it was founded in 2001.
Furthermore, they are regulated by some of the most important authorities in the industry.
Thus, we can say very confidently that Deriv in Kenya is a good broker