Formerly known as Binary.com, Deriv’s story started in 1999. The online broker company’s goal is to make trading accessible to everyone. It offers trading on a variety of assets including forex pairs, commodities, and cryptocurrencies. Deriv is an internationally recognized company with licenses from South Africa the FCA, the Vanuatu Financial Services Commission, as well as in Malta and other jurisdictions where it operates legally. It offers several proprietary platforms and a range of tools traders can use to find their next target.
Compared to Deriv, Exness has only been in the industry for over a decade. Launched in 2008, it is owned and operated by Nymstar Limited. The broker firm has all the necessary licenses to operate globally including in South Africa. It holds a leading position in many Forex broker ratings, with a massive trading turnover of more than $300 billion annually. Exness deals in CFDs available for stocks, forex pairs, energy, and metals, favoring instant execution of each market and low fees. Thanks to infinite leverage, you can even make solid money on low deposits.
In this guide, we’ll compare the features and platforms of both trading companies and see which one is best for use in South Africa.
Deriv vs Exness Platforms
Deriv has a slight advantage over Exness when it comes to platforms. It has three platforms which is one more than Exness. The innovative broker has a web-based platform, a customizable and trader-favorite DTrader (DMT5) platform, and an automated one for algorithmic investing. All three platforms are user-friendly, available on a wide range of devices, and cover the company’s full portfolio of tradable assets.
Exness offers both MetaTrader 4 and 5 (MT4 and MT5) platforms as well as an MT4 WebTerminal. It allows access through any device and makes the broker services that much easier. Both platforms are available in several languages, with English being the default, understandably. Technical analysis is available within the platforms, so they share many similarities to what Deriv offers.
However, due to the modern design and extra automated platform, Deriv gets the nod.
Deriv vs Exness: Markets and Assets
Both platforms cover a wealth of assets you can trade. For example, Deriv has more than 50 forex pairs, oil, gas, other commodities, and cryptocurrencies as well. All these markets are available on each of its platforms along with a range of instruments that will make your life easier. What’s great about it is that the tools and design are very easy to follow, making it a great option for new South African traders.
Here’s an overview of Deriv’s assets and markets in South Africa:
- Forex
- Synthetic indices
- Stock indices
- Cryptocurrencies
- Commodities
Tools such as multipliers and options are available giving traders a chance to make a profit without owning the asset.
Exness beats Deriv in the forex pairs category, with over 110 on offer. CFDs, stocks, indices, and metals are also on the menu, along with seven cryptocurrencies. For a broker firm that’s been online shorter than Deriv, that’s respectable.
Deriv vs Exness Spreads and Fees
Deriv is famous for its tight pips on pairs such as EUR/USD. They go from 0.5 up which is lower than the industry average. What’s great about this trading platform is that there are no fees when using it, neither for deposits/withdrawals or inactivity penalties. That’s not the case with other brokers such as Hotforex where you pay a penalty if your account is inactive. Deriv’s spreads are competitive too depending on your account.
Exness makes its money on tight variable spreads. The standard accounts start even lower than Deriv at 0.3 pips. There’s no fee on trading volume, and with a professional account, spreads can go lower. It’s an excellent spread model that has made Exness one of the best in the industry and a worthy challenger for Deriv.
Deriv vs Exness Deposit and Withdrawal South Africa (ZAR)
You can fund your Deriv account in a variety of ways. These include the standard stuff like bank transfer (most South Africa banks included), Visa, Mastercard, Neteller, and Skrill. It operates in numerous currencies including ZAR, with instant deposit times. Minimum deposits start at $5 depending on your preferred payment method. South African traders can use ZingPay, Deriv P2P, or cryptocurrencies to fund their accounts.
Most of those payment methods can also be used to fund your Exness account. Bank transfers are convenient, but so are credit card deposits and e-wallets. The minimum deposit is a bit higher at $10, with no fees on deposits or withdrawals.
Deriv vs Exness: Customer Support South Africa
Deriv’s customer support team is live 24/7. Whether you’re from South Africa or another country, you can talk to the agents via email or live chat at any point of the day or night. There’s a comprehensive Help page that answers the most common questions.
Exness also features 24/7 customer support service in several languages. While it is live in over 10 languages, Afrikaans is unfortunately not on that list. But, the agents are polite and easy to chat with, and you should get your answers ready in a short time.
Deriv vs Exness: Company Information
Deriv was formerly known as Binary.com. It decided to rebrand with more than just a logo after 20 succesful years serving millions of clients worldwide. With the new rebrand, the company expanded its portfolio and services, growing its fanbase and the number of transactions and value.
Exness was launched in 2008 and owns licenses the Financial Sector Conduct Authority (FSCA) in South Africa, the SFSA, CBCS, and other jurisdictions. It has a presence in over 100 countries in the world, offering its services to millions of clients. The Cyprus-based broker is known for tight spreads and great leverage in a comfortable trading environment that suits all types of investors and traders.
Deriv vs Exness Conclusion
| Deriv |
Exness |
- Formerly known as Binary.com, founded in 1999
- FCA and several other licenses
- Offers three top-notch trading platforms
- Trades cryptocurrencies, commodities, indices, forex pairs, and more
|
- Launched in 2008
- FCA, FCSA, CBCS, and SFAS licensing in addition to being licensed in Cyprus
- Runs on MT4 and MT5 platforms
- Covers trading on over 100 forex pairs, commodities, cryptocurrencies, and indices
|
If you’re from South Africa and you want a fair and regulated trading platform, go with Deriv. Make sure that you read all the details in our Deriv Review South Africa. It’s focused on traders from South Africa and offers everything a well-rounded brokerage firm should have. That includes cryptocurrencies, which are all the rage right now among the youth and highly appreciated on trading platforms such as Deriv.
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