Deriv Mobile App: Main Features and Functionality
To download and set up the Deriv mobile app you need to:
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Sign in to your Deriv account:
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Fund your account:
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Download the Deriv mobile app.
This review gives an in-depth look at the Deriv mobile app. We delve into the download and setup process, explore the main and additional features, and highlight the strengths and weaknesses of this versatile trading application. Whether you're new to online trading or an experienced trader seeking a new platform, this article aims to provide a comprehensive overview of the Deriv app.
| IQCent | Deriv | VideForex | |
|---|---|---|---|
Mobile App Rating |
N/A | N/A |
N/A |
User-friendliness |
Good |
Good |
N/A |
Updates |
Yes |
Yes |
N/A |
Biometric and two-factor authentication |
No |
Yes |
N/A |
How to download and set up the Deriv app
Step 1. First and foremost, you need to sign in to your Deriv account if you do not have one, you can sign up for a Deriv account for free. This process involves creating a Deriv real account, allowing you to engage in trading activities.
Step 2. Once you have your Deriv real account, you must fund it using your preferred payment method. This could be through a credit card, a debit card, or a digital wallet like PayPal. Funding your account will enable you to participate in trades and transactions using actual money.
Step 3. After funding your account, the next step is to download the Deriv mobile app. You can do this via the Google Play Store for Android devices or the App Store for iOS devices. With the app installed on your device, you can trade anytime and anywhere, ensuring you don't miss any significant market movements or trading opportunities.
Main features of Deriv mobile app
The Deriv mobile app offers the potential for immense profit, up to x1000 your stake. This means that for every dollar you invest, you can make $1000. This high-profit potential can make trading with Deriv incredibly rewarding.
The minimum stake on the Deriv app is only USD 1. This means you can start trading even with a small budget, making the platform accessible to virtually anyone interested in online trading.
With the Deriv mobile app, you can trade 24/7. This ensures you can capitalize on market changes in real-time, regardless of the time or day.
The Deriv app also offers user-friendly features. These include easy-to-use charts for quick data analysis and a pleasant dark theme that's easy on the eyes, especially during night-time trading.
Lastly, the Deriv mobile app ensures easy access to your trades. Wherever you are, whatever the time, you can monitor and manage your trades as long as you have your device.
Additional features of the Deriv app
The Deriv app also provides better risk management tools. These include features like stop loss, take profit and deal cancellation. These help you to manage your risk appetite and protect your investments.
You can trade synthetics on the Deriv app. This includes trading volatility and Crash/Boom indices that simulate the movements of real-world markets. It’s a fantastic tool for those who wish to venture into synthetic indices.
Additionally, the Deriv app allows for Forex trading on the go. You can access the world’s most traded market and take advantage of currency price movements wherever you are.
Main advantages and disadvantages of the Deriv mobile app
👍 Advantages:
• Customizable risk management. The Deriv app provides advanced risk management tools that accommodate your risk tolerance. This lets you define your risk parameters and control potential losses, making trading more manageable and less stressful.
• Forex trading on the go. The Deriv app makes Forex trading convenient by providing access to the world's most traded market at your fingertips. This on-the-go feature allows for real-time monitoring and instant reaction to market movements, making it an essential tool for successful Forex trading.
• User-friendly features. The app is designed to facilitate a smooth trading experience. It offers easy-to-use charts and other tools that are functional and enjoyable to use. These user-friendly features make navigating the app and executing trades a breeze.
• Easy access to trades. One of the standout features of the Deriv mobile app is its accessibility. Regardless of location or time, you can instantly access your trades and keep track of your investments, enabling you to react promptly to market changes.
• High-profit potential. The Deriv app offers up to x1000 your stake. This, coupled with a minimum stake of just USD 1, makes trading on Deriv appealing and accessible to a wide range of traders, irrespective of their budget.
👎 Disadvantages:
• Limited customer support. One of the main drawbacks of the Deriv app is its limited customer support options. If you require immediate assistance, getting the help you need on time can be challenging.
• Restricted availability. Deriv doesn't offer its services to clients from certain countries, including the USA, Canada, Malaysia, and Israel. This geographical restriction means that potential traders from these regions can't access the platform, thereby limiting its global reach.
FAQs
Is Deriv a good trading app?
Yes, Deriv is a good trading app. It has many advantages and is easy to use, making it a reliable app for beginner and experienced traders.
What are the disadvantages of using Deriv?
The main disadvantages of Deriv include limited customer support and the exclusion of clients from several countries, such as the USA, Canada, Malaysia, and Israel.
Do people make money on Deriv?
People do make money on Deriv. However, success depends on the individual's trading strategies, market knowledge, and ability to effectively analyze trading charts and indicators.
Is Deriv regulated or not?
Yes, Deriv is regulated by several entities. These include the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (Labuan FSA), the Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission. This regulatory oversight enhances the safety of funds and the reliability of the trading platform.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.