Deriv is one of the most strategic brokers in the world known for her excellent service delivery, prompt response to customers/clients’ queries and characteristic for its frequent development of new tradable asset or improvement of tradable features on assets that are already available on their numerous trading platforms.
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Of the numerous trading platforms, Deriv X comes as a unique platform developed and customized to suit the ever-changing demands and needs of traders. In Deriv X, more than 100 assets are offered for trading with full components of trading thrills including the following: my trading account, trading dashboard, trading journal, technical analysis tools and room for personal jotting and observations.
Table of Contents
What is Deriv X?
Deriv X is a trading platform just like MetaTrader platform, customized and developed by Deriv.com to support traders the enjoy the forex market. As a copyright property of Deriv.com, the trading platform does not share its interface with other brokers. That is to say that, in Deriv X applications (both the online and downloadable applications), other brokers are not allowed to operate and thus, there is no room for a trader to carry out a broker search. This is because, the application is designed only for Deriv.com as distinct from the MetaTrader 5 platform where other Brokers have the license to operate and offer their financial assets/services.
Just like the MetaTrader platform which is generally known as a trading application for traders, the Deriv X is one of such platforms developed and customized primarily for Deriv users (both new and existing). It serves as the second most demanded trading platform by Deriv users after the MetaTrader 5 application. Although so many Deriv users are very familiar with trading from the metatrader platform, using the Deriv X platform comes with unique characteristics and features that are user-friendly, easy-to-use and with a wider spectrum of other unique features in which the MetaTrader application does not have.
Trading assets available In Deriv X are more than 100 in number and these are being offered as Contracts for Differences (CFDs) in trading areas such as Foreign Exchange (Forex) trading, commodities, Exchange-Traded Funds (ETFs), stocks and indices, cryptocurrencies, and Derived indices. This is because, it customizes and allows Deriv users to have a superior and tailored user-friendly experience as distinct from that of the MetaTrader interface.
Picture 1: Showing the online view of Deriv X trading interface
Why is Deriv X Important?
Using the Deriv X interface serves numerous purposes. For instance, it allows users to access all the tradable assets and add them up in just one account. Unlike the metatrader platform where currency pairs are separated from the synthetic indices, Deriv X bridges that separation by allowing its users (both under the Demo or Real trading experience) to have a single privilege of adding all their desired financial assets to the watch list without segregation.
Also, it makes room for traders to explore and create a unique experience about their desired trading asset. For instance, Deriv X offers the opportunity for traders to automatically know actual lot size and other trading information that is unique to each of the assets. This is one of the unique characteristics that the metatrader offers in a mechanical way.
Beside this, the Deriv X interface accommodates other essential trading components such as the trading journal which automatically carries the trading information and history of a trader. Also, it makes room for the trader to document his thoughts, observations and feeling prior to and after each trading exercise. This for anybody to make reference to the reasons behind the success or failure of his trading career as information is automatically updated and documented by the trading interface.
Tips for successful trading
Deriv X offers room for traders to have access to both fundamental and technical tools and information. Hence, for a successful trading through the Deriv X interface, the following is suggested:
- The aim of every trading adventure is to make money. Hence, back testing is one of the sure ways to increase profitable proficiency and also reduce losses. To do this, trading strategies should be back tested using the demo platform. This is to develop mastery and also enable the trader to become familiar with certain tools and icons which may differ in location from that of the metatrader platform before proceeding to trading on the real trading platform.
- Master the technical analysis tools provided for ease of use
- Understand the structural highs and lows of the market. This is actually the first breakthrough strategy every technical analysis trader should master and utilize for profit making
- Become acquainted with applicable lot sizes in the market. As Deriv X makes room for a trader to access all sorts of financial asset, such should trade with the mind that not all asset has a default micro lot size. Hence, Derived indices pair may not have the price movement and lot size like a forex pair. Also, this information will help in making a good risk-to-reward ratio decision.
- Follow-up with the automatically generated history of the trading journal provided in the trading platform. This will help every trader understand the asset that favours his trading style and strategy.
If this publication has been helpful to you and you desire to know more about what to takes to be successful in trading, kindly do the following
- Signup on my YouTube channel at https://www.youtube.com/c/juvirtrades
- Sign up for my mentorship through [email protected].
- Open a free demo/real account under the Deriv.com by clicking here
- Join my free WhatsApp group https://chat.whatsapp.com/HJ2Lz96W378BJVfsQ5nU2F
- Contact me through a direct call on +2348027790183.
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.