Deriv GO is an online trading app that offers seamless trading experiences on mobile devices. With over 500k downloads on the Google Play Store and a 4.5 review rating, the app offers a simple user interface that is very easy to understand. In this article, I am going to share my experience on the app with you and how you can use the app to enhance your trading experience.
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Table of Contents
Everything You Need to Know About Deriv Go App
What is Deriv GO?
Deriv GO is a flagship mobile app from Deriv which is design and optimized for on the go trading. Which mean, you can trade multipliers , synthetic indices and cryptocurrency 24 hours a day, 7 days a week on the app.
Click here to Download Deriv Go now on Google Play store
Assets that are tradable on Deriv Go
Synthetic Indices Forex and cryptocurrency are the major assets that are tradable on the app
1. Synthetic indices
Synthetic indices are indices that are engineered to simulate the real world market movement. Unlike currency pairs, synthetic indices are not affected by natural events and they are free of liquidity risks.
Also Read: Everything you need to know about Synthetic Indices
Example of Synthetics Indices that are tradable on the app include:
2. Continuous indices
Continuous indices are indices that correspond to simulated market with constant volatility of 10percet, 25 percent, 50 percent, 75 percent and 100 percent, etc., They include Volatility 2 seconds indices and Volatility 1 second indices
Others synthetic indices that are tradable on the app include: Crash and Boom indices, Jump indices and Step indices
3. Forex
Varieties of forex pairs including the major pairs and smart FX can be traded on the app via multipliers. For clarity: Smart FX are merged indices that measures the value of currency against a basket of 5 major currencies. There are 4 types of smart FX that are tradable on the app, this include AUD index, EUR index, GBP index ad USD index.
AUD index: AUD Index measure the value of AUD against a basket of 5 major currency, namely; USD, EUR, GBP, JPY ad CAD each weighted by 20 %.
EUR index: EUR Index measures the value of the Euro against USD, AUD, GBP, JPY and CAD each weighted by 20 %.
GBP index: GBP index measure the value of GBP against USD, EUR, AUD, JPY ad CAD each weighted by 20 %.
USD index: USD index measures the value of USD against EUR, GBP, JPY, CAD ad AUD each weighted by 20 %
3. Cryptocurrency
There are two cryptocurrency available to trade on Deriv Go; they include BTCUSD ad ETHUSD Bitcoin versus USD and Ethereum versus USD.
My Experience on the app
After downloading the app, it took me about 5 minutes to understand the dynamics of the app. One of the things I love most about the app is the risk management feature, which includes the stop-loss and deal cancellation features. If you understand how to use these two features and take profit as well, you will minimize your losses and maximize your profit. I also love the news tab features, which focus on x-ray market trends and new products.
Few things to note when using the App
1. Loses are inevitable:
Just like trading on DMT5, DTrader or the website, you will encounter some loses some times, but your ability to minimize those loses and maximize your profit is what makes the different, that is where the risk management features comes in.
2. Analyze and be confident about your trade calls:
Do a proper analysis before placing your trade. Trading is not gambling; remember, if you lose money, it is not the fault of the app but of your trading decision.
3. Learn to control your emotion:
In almost all my post and videos, I have echoed the need to have a good trading psychology. If you allow your emotion to control you while trading, you will always be in the losing end.
4. Access, Analyze, Trade and Control your trade:
This is how Deriv expert puts it, access all tradable assets, do your analysis, place your trade and control it with the risk management features.
5. Making money is a product of consistency:
Don’t try to make all the money in this World in a day. Take it slowly. I am successful today, because of consistency.
Disclaimer
Deriv offers complex derivatives, such as options and contracts for difference (“CFDs”). These products may not be suitable for all clients, and trading them puts you at risk. Please make sure that you understand the following risks before trading Deriv products: a) you may lose some or all of the money you invest in the trade, b) if your trade involves currency conversion, exchange rates will affect your profit and loss. You should never trade with borrowed money or with money that you cannot afford to lose.