Explore the Deriv Mobile App: Your Guide to Online Trading For 2023

Traders Union (TU) experts take a close look at the Deriv mobile app. They explain how to download and set it up, explore its main and extra features, and point out what it does well and where it could improve. Whether you’re just starting with online trading or an experienced trader looking for a new platform, this article gives you a complete picture of the Deriv app.

Deriv: reliable broker

Deriv is a broker that Traders Union analysts rate at 7.19 out of 10 based on reviews from clients and various criteria. Most reviews from Deriv’s clients are positive, which is a good sign. It is suitable for both new and experienced traders who like trading on their own or using trading software. They’ve been in business since 1999, and their goal is to make trading easy and accessible. They have low minimum deposit requirements and offer trading in various assets like Forex, stocks, indices, CFDs, commodities, and options. Deriv is licensed and regulated by different authorities, ensuring a safe trading environment for clients.

Downloading and setting up Deriv

To begin trading with the Deriv mobile app, TU experts recommend these straightforward steps:

1. Sign Up: If you don’t have a Deriv account, sign up for free to create a real trading account.
2. Fund Your Account: Once you have an account, deposit money using your preferred method, like a credit card, debit card, or digital wallet.
3. Download the App: Get the Deriv mobile app from the Google Play Store (for Android) or the App Store (for iOS) to trade on the go and stay updated on market moves and opportunities.

Benefits and drawbacks 

TU analysts have determined the key pros and cons of using the Deriv mobile app. 

Advantages:

• Customizable Risk Management: The Deriv app lets you set your own risk limits, reducing stress and making trading more controlled.
• Forex Trading Anywhere: It provides easy access to the global forex market, allowing real-time monitoring and quick responses to market changes.
• User-Friendly: The app is designed for smooth trading with user-friendly charts and tools.
• Easy Trade Access: You can access and manage your trades from anywhere, anytime, making it easy to respond to market shifts.
• High Profit Potential: The app offers the potential for high profits, with a low minimum stake of just $1, making it accessible to traders with different budgets.

Disadvantages:

• Limited Support: The Deriv app has limited client support options, which can be a challenge if you need immediate assistance.
• Restricted Availability: The platform isn’t available to clients from certain countries like the USA, Canada, Malaysia, and Israel, limiting its global reach.

Is Deriv profitable?

Some people do make money on Deriv. But whether you make money or not depends on how you trade, what you know about the market, and how well you can understand charts and indicators. It’s kind of like a skill – the more you practice and learn, the better you become at making money through trading. But remember, it’s not a guaranteed way to get rich, and you can also lose money if you’re not careful. So, it’s important to be cautious and learn as much as you can before you start trading on Deriv.

Conclusion

The Deriv mobile app, which TU’s experts have thoroughly reviewed, provides a complete and easy-to-use trading experience for both beginners and seasoned traders. It’s a trustworthy platform that offers a wide range of trading instruments, along with flexible risk management tools that you can tailor to your preferences. Whether you’re just starting or have years of experience, the app’s user-friendly design and accessibility cater to traders at all skill levels. This means that no matter where you are in your trading journey, you can effectively use the Deriv mobile app to pursue your financial goals.