When looking for a broker to trade online, two platforms often come up that is Deriv and Videforex. Both of these brokers offer trading options in various markets like forex, commodities, and cryptocurrencies, but they differ in several important aspects. In this blog post, we’ll explore the key features, trading platforms, fees, and customer support offered by Deriv and Videforex, helping you make an informed decision. So, let’s dive into the comparison of Deriv vs Videforex.
This table highlights the key differences and features of both brokers to help you decide which one suits your needs better.
| Feature | Deriv | Videforex |
|---|---|---|
| Founded | Over 20 years ago (formerly Binary.com) | 2017 |
| Regulation | Regulated by MFSA, VFSC, and others | Limited regulation |
| Trading Platforms | DTrader, DBot, MT5, SmartTrader | Web-based, mobile app |
| Assets | Forex, indices, synthetic indices, commodities, cryptocurrencies | Forex, stocks, commodities, cryptocurrencies, binary options |
| Binary Options | No | Yes |
| Synthetic Indices | Yes (exclusive to Deriv) | No |
| Spreads and Fees | Low, competitive spreads, no deposit/withdrawal fees | Wider spreads, 5% withdrawal fee on credit cards |
| Customer Support | Live chat, email, help center | Live video chat, email, chat |
| Deposit/Withdrawal Methods | Bank transfers, e-wallets, Deriv P2P, cryptocurrencies | Credit cards, cryptocurrencies, e-wallets |
| Unique Features | Synthetic indices, automated trading bots (DBot) | Binary options, live video chat support |
Background and Overview
Deriv
Deriv is a broker that was rebranded from Binary.com, a company with over 20 years of experience in the financial markets. The platform offers a wide range of trading instruments, including forex, commodities, indices, synthetic indices, and cryptocurrencies. Deriv is known for its simplicity, low trading costs, and flexibility. It supports both beginners and advanced traders, providing tools and platforms that cater to all experience levels.
Videforex
Videforex, launched in 2017, is a relatively newer broker in the trading world. It offers trading options in forex, stocks, and cryptocurrencies. Videforex is also known for offering binary options trading. One unique feature of Videforex is its ability to offer live video chats with account managers, enhancing the overall customer service experience.
Trading Platforms
Deriv
Deriv provides a diverse set of trading platforms to cater to different types of traders:
- DTrader: A simple yet powerful platform for trading various assets.
- DBot: A platform for building automated trading bots with no coding required.
- MT5 (MetaTrader 5): This platform is for advanced traders, offering access to forex, CFDs, and other instruments.
- SmartTrader: Another intuitive platform for those who prefer simplicity in trading.
Deriv is well-known for its user-friendly interface, which appeals to both new traders and those who prefer to automate trades.
Videforex
Videforex offers a web-based trading platform with a live video chat feature, allowing traders to get real-time assistance. It also supports mobile trading, enabling users to trade on the go. However, compared to Deriv, Videforex doesn’t have the versatility of multiple platforms like MT5, which limits advanced traders looking for more comprehensive tools.
While Videforex’s platform is functional and convenient, it may lack the depth that experienced traders find essential for technical analysis and customization.
Asset Offering
Deriv
Deriv provides a wide range of tradable assets, including:
- Forex
- Indices
- Synthetic Indices
- Cryptocurrencies
- Commodities
The synthetic indices offered by Deriv are unique, as they are not affected by real-world events, which attracts traders looking for a less volatile trading experience. These synthetic indices are exclusive to Deriv and can be traded 24/7.
Videforex
Videforex offers a more straightforward asset selection, including:
- Forex
- Cryptocurrencies
- Stocks
- Commodities
In comparison to Deriv, Videforex doesn’t offer synthetic indices, which limits the variety of assets. However, it does provide binary options trading, which Deriv doesn’t offer. This can be a deciding factor for traders specifically looking to engage in binary options.
Fees and Spreads
Deriv
Deriv is known for its low fees and competitive spreads. There are no deposit or withdrawal fees, making it more affordable for traders who want to minimize their trading costs. Additionally, the spreads on Deriv are variable and competitive, especially on major forex pairs.
Videforex
Videforex, on the other hand, charges a 5% fee on credit card withdrawals, which is something to consider if you plan on using that method. The spreads on Videforex tend to be wider than those on Deriv, making it slightly more expensive in terms of trading costs. Binary options traders should also note that Videforex offers fixed payouts, which may not be as profitable in the long run compared to variable payouts based on market conditions.
Customer Support
Deriv
Deriv offers multiple channels for customer support, including live chat, email, and an extensive help center with articles and tutorials. The support is generally responsive, and traders report positive experiences when it comes to resolving issues or inquiries.
Videforex
Videforex stands out with its live video chat feature, which allows users to speak with account managers directly. This feature adds a personal touch to the support process. Additionally, Videforex offers email and chat support, but the live video chat is a unique aspect that many traders appreciate.
Regulation and Security
Deriv
Deriv is regulated by several financial authorities, ensuring that it adheres to strict compliance and safety standards. It is regulated by entities like the Malta Financial Services Authority (MFSA) and the Vanuatu Financial Services Commission (VFSC). The platform’s long-standing reputation also adds to its credibility.
Videforex
Videforex is less regulated compared to Deriv. It operates under less strict regulatory oversight, which could raise concerns for some traders. While it provides a secure platform for trading, its lack of comprehensive regulation might be a dealbreaker for those who prioritize strict regulatory environments.
Deposit and Withdrawal Methods
Deriv
Deriv offers a variety of deposit and withdrawal methods, including bank transfers, e-wallets (such as Skrill and Neteller), and cryptocurrencies. The platform does not charge fees for deposits or withdrawals, which is a significant advantage.
Videforex
Videforex offers multiple deposit methods as well, including credit cards, cryptocurrencies, and e-wallets. However, the platform charges a 5% withdrawal fee for credit card transactions, which may make it less appealing for traders who frequently withdraw funds.
Deriv vs Videforex – Which One to Choose?
In the battle of Deriv vs Videforex, the right choice depends on your trading style and preferences.
- Choose Deriv if you’re looking for a more versatile trading experience, with access to multiple platforms, a wide range of tradable assets (including synthetic indices), low fees, and strong regulation. It is ideal for both beginners and advanced traders who want flexibility and lower trading costs.
- Choose Videforex if you prioritize binary options trading and value customer support with live video chat assistance. Videforex might appeal more to traders seeking an interactive support experience, even though it comes with higher fees and fewer assets.
Both brokers have their strengths, but Deriv tends to offer more in terms of versatility, security, and cost-effectiveness. If you’re a beginner or an advanced trader looking for comprehensive tools, Deriv may be the better option. However, if binary options and hands-on support are your priorities, Videforex could be a suitable choice.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.