Deriv review
Deriv is hugely popular in Kenya and Nigeria for synthetic indices that trade every day of the year, and it has expanded mobile money in eight African markets. It holds no African licence and no tier-1 licence, so treat it as high risk.
#9 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Synthetic indices every day of the year
- Mobile money and local agents
- Low entry
- 24/7 support
Watch out for
- No African or tier-1 licence
- Synthetic indices are the broker's own product
- Spreads not published as averages
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| MFSA Malta | Deriv Investments (Europe) Ltd | See register | Verify on register ↗ |
| Labuan FSA Malaysia | Deriv (FX) Ltd | See register | Verify on register ↗ |
| VFSC Vanuatu | Deriv (V) Ltd | See register | Verify on register ↗ |
| FSC British Virgin Islands | Deriv (BVI) Ltd | See register | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard (MT5) | $5 | Variable | None |
| Financial (MT5) | $5 | Variable | None |
| Swap-free | $5 | Variable | None |
Deriv MT5, Deriv cTrader, Deriv Trader and Deriv Bot, with synthetic and real-market instruments.
Deposits and withdrawals
- Payment methods
- Mobile money via pawaPay (8 markets) · Payment agents · Visa / Mastercard · E-wallets · Crypto · P2P
- Withdrawals
- Processed within 24h (Deriv's claim)
- Deposit currencies
- USD, + local via agents
- African-currency accounts
- None
Platforms and markets
- Platforms
- Deriv MT5, Deriv cTrader, Deriv Trader, Deriv Bot
- Execution
- Market execution
- Instruments
- 300+ — FX, synthetic indices (24/7), stocks, commodities, crypto, ETFs
- Currency pairs
- 50+ currency pairs
- Copy trading
- Yes
- Islamic accounts
- Yes
Support
24/7 · live chat, help centre
FAQ
Is Deriv regulated in South Africa?
No. Deriv has no FSCA licence, so South Africans are served by an offshore entity with weaker protection.
Is Deriv regulated in Kenya?
No. Deriv is not on the CMA's list of licensed online forex brokers.
Is Deriv regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at Deriv?
From $5 (method-dependent). Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Not that we could confirm. Supported methods: Mobile money via pawaPay (8 markets), Payment agents, Visa / Mastercard, E-wallets, Crypto, P2P.
Which platforms does Deriv offer?
Deriv MT5, Deriv cTrader, Deriv Trader, Deriv Bot.
How is the 5.4/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: Finance.ng ↗TechAfrica News ↗ · Last checked Oct 2026