Deriv vs NordFX - Fees Review included
Which broker is better Deriv or NordFX? Our expert assessment conducted according to TU’s own methodology showed that Deriv is one of the top brokers in the financial market with the TU Overall Score of 8.42 out of 10. NordFX is one of the top brokers in the financial market with the TU Overall Score of 7.1 out of 10. Find out more about TU Overall Score.
| Feature | Deriv | NordFX |
|---|---|---|
Overall |
1.5 |
4.1 |
1.5 |
3.5 |
|
1.7 |
4.5 |
|
1.6 |
3.6 |
|
Investment Instruments |
1.8 |
5 |
Platforms and Charting Tools |
1.4 |
4.5 |
Deposit and Withdrawal |
1.8 |
4.4 |
Research |
1.4 |
4 |
Education |
1.3 |
4.2 |
Support |
1.2 |
4.4 |
Bonuses |
1.3 |
3.8 |
|
|
|
Deriv vs NordFX: Pros and Cons
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are DBot and DMT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: UK Financial Conduct Authority (FCA), Vanuatu Financial Services Commission (VFSC), Malta and Labuan Financial Services Authority (MFSA and Labuan FSA). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
NordFX is an international company founded in 2008. Over the years, the broker has been awarded over 50 prestigious awards and various prizes. You can find below a shortlist of the company's achievements over the past decade. In 2020, NordFX received the “Best Platform for Central Asset Accounts” award. Earlier in the year, its affiliate program received this award as well as the social trading platform award. According to the Masterforex-V Academy, NordFX became the best world broker in 2019. In 2018, it was declared the Best Broker in Asia. Since 2011, its bonus programs, promotions, and partner programs have regularly been recognized as the best in Asia. The high quality of service was noted and NordFX was recognized as the “Best Forex broker in China” for the quality of its dealing. NordFX operates in nearly 190 countries and has over 1.25 million trading accounts. The company offers services for active and passive trading on the Forex market. It operates under the jurisdiction of the British Virgin Islands.
| Deriv | NordFX | |
|---|---|---|
| Overall Pros | Low level of the minimum deposit. | Saving account for investors |
| A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds. | Copy trading and PAMM are available | |
| Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc. | Zero spread account for active traders | |
| Broker regulation by several authorities from different countries. | Attractive affiliate program | |
| Round-the-clock client support. | Free trading signals | |
| Choice of three convenient trading platforms. | Free VPS | |
| No commission for maintaining a trading account and using its platforms. | Deposits in crypto | |
| Overall Cons | The tutorials provided on the site may not be enough for novice traders. | Offshore regulation |
| Deriv has only a few ways to contact support. | Only 35 supported FX pairs | |
| The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others. | High card withdrawal fee |
Deriv vs NordFX: Safety and Regulation
| Regulated By: | Deriv | NordFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
VFSC, MFSA and Labuan FSA |
VFSC (Vanuatu) |
Deriv vs NordFX: Trading Conditions
| Trading Conditions | Deriv | NordFX |
|---|---|---|
Minimum Deposit |
$10 |
$10 |
Trading Platforms |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
МТ4, MT5, MultiTerminal, NordFx Mobile |
Max Leverage (Futures) |
1-1000 |
1-1000 |
Supported Markets |
Currency pairs, cryptocurrencies, CFDs, indices, stocks, synthetic indices, commodities |
Forex, CFDs on indices, stocks, commodities, crypto, metals |
Trading assets |
218+ |
100+ |
Trading Accounts |
Real account, demo account |
Fix, Pro, Zero, Savings |
Base Account Currencies |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
USD |
Deriv vs NordFX: Fees
Forex Trading Fees
| Fee | Deriv | NordFX |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
0.0035% per lot (3.5 USD) |
ECN Account EUR Average Spread |
Not supported |
0.3 pips |
CFD Trading Fees
| Fee | Deriv | NordFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Crypto pairs - 0.06% Other CFDs - 0,005% |
Non-Trading Fees
| Fee | Deriv | NordFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
4% - Card Withdrawal, 0-5% - Payment services, 0% - Bank Transfer |
Inactivity Fee |
$25 charged every six months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Deriv vs NordFX: Trading Assets
| Asset Name | Deriv | NordFX |
|---|---|---|
Overall |
218+ |
100+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Deriv or NordFX: Investment Programs
| Asset Name | Deriv | NordFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: NordFX or Deriv
| Deriv | NordFX | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
DTrader |
NordFx Mobile |
Others |
SmartTrader |
No |
|
|
|
Deriv vs NordFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Deriv | NordFX |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
Deriv vs NordFX: Research
| Research Type | Deriv | NordFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Deriv vs NordFX: Education
| Education Type | Deriv | NordFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
NordFX vs Deriv: Support
| Support Features | Deriv | NordFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Deriv vs NordFX: Forex Bonuses and Promo
| Promo | Deriv | NordFX |
|---|---|---|
Forex Bonus |
No |
Referal bonus 10% |
Affiliate Program |
Deriv’s affiliate program is presented in three types: a trader can (i) receive additional earnings for the monthly income of his referees, (ii) for the probability of payments on options, as well as (iii) for inviting new users to the Deriv broker. |
Up to 60% of referrals spread |
Other Promos |
||
|
|
|
Top 5 Reviews on NordFX
-
Comment
Before opening an account with NordFX and transferring my money here, I studied reviews of this broker and I found many positive reviews. Moreover, the broker offers normal trading and that is why I work with this company.
-
Comment
This company NordFX is known for canceling a trader's profit without any explanation. This happened to me. While trading with an initial deposit of $600, I was able to increase the amount to $1480. All trading was done manually. And then I received an email stating that I had violated some conditions and my profit would be canceled. They only returned my initial deposit. And do you think they returned the entire amount? No, they deducted a 5% commission and an additional fixed penalty. Later, I found out that there are many such cases with NordFX. This company deceived not only me!
-
Comment
A major issue with NordFX is the price charts. During strong market movements, the platform may not work for several hours. I miss the most crucial moment for earning. At night, the GBPUSD pair stays motionless for two hours. Then, movement suddenly starts with a price gap. Opening an order at the desired price with NordFX is very problematic. Therefore, personally, I do not recommend dealing with this company!
-
Comment
At NordFX, there are frequent issues with the trading terminal. Firstly, there are freezes during the release of important news. In such cases, an order may open after a significant price gap, resulting in substantial losses for me. Secondly, I can't understand why the NordFX terminal stops working at different times. This can happen at the most inconvenient moments, and, of course, I incur losses. The support team does not address terminal issues; they simply suggest changing my internet provider.
-
Comment
I encountered a problem opening orders with NordFX. I try to trade actively, and it is important for me to open orders strictly at the stated price. But NordFX, even when opening an order, indicates that the price may differ from the stated one. But I had no idea that the difference would be that huge. First, orders open with delays. Second, the difference between the asking price and the opening price can be 6 pips higher. And this is even in a calm market. On strong movements the difference is significant.
Top 5 Reviews on Deriv
-
Comment
I think Deriv is not the worst broker out there. They focus on futures contracts in the form of options and derivatives. The platform is quite different from what we're used to, but you get used to it over time. Order processing is fast, and I haven't noticed any major issues with the platform. Overall, Deriv offers decent conditions.
-
Comment
I'm still learning how the deriv platform works. The reviews are mostly positive, but I don't want to get into a difficult situation. I'm trading on demo for now. Moreover, I’m still new to trading, I’m just trying to learn. Deriv's technical support is good, they answer my questions professionally.
-
Comment
I learned about Deriv three years ago. The first impression was not very good, but then I started trading with this company. Now, I think that this is a really good broker. Opening trades is very easy, there are no price manipulations, and profitability is high. So I recommend this broker!
-
Comment
If you want to start trading Forex, Deriv is the broker where you should do it. Deposits and withdrawals are fast, you trade on the interbank market, and there are educational materials. Try it, choose a normal company like this one and make money. I haven’t traded with large amounts, because I’m not entirely confident in myself yet.
-
Comment
Deriv is a good company. I’ve been trading here for 4 months now, and I have no complaints about performance and operation of the platform. User account is convenient. I strongly recommend it.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.