The Forex exchange market is rapidly growing in South Africa. There is also a large number of brokers stepping into the market. To promote their businesses and grab new traders, they launch bonus schemes.
In this article, we will review the deriv bonus for our readers. So, read until the end and find out the answers to all your queries.
Deriv brokers were previously known as Binary.com. It has over 50 tradeable currency pairs. It is regulated by MFSA, LFSA, VFSC, and BVIFSC. It offers a demo account and an Islamic account for traders.
What is a deriv bonus?
The deriv bonus program is a promotional or compensation scheme to reward new traders on the deriv platform.
Let us take a look at some common bonus programs in the market and see if deriv offers these bonuses or not.
Sign-up bonus program
In the Forex trading world, a sign-up bonus is awarded to the trader when he/she first signs up with a Forex broker. This bonus decreases the dissonance in the mind of the trader.
Deriv broker does not offer any sign-up bonus for the new trader. Hence, if you are a new trader who signs up with a deriv broker, you will not be eligible for any bonus. For many traders, the lack of a bonus program at deriv is disappointing; however, it does not make a big difference to some traders.
Several brokers offer sign-up bonuses as first deposit bonuses to their traders. The new trader bonuses are not usually withdrawable. Hence, the traders have to spend this money on their first trade.
Referral bonus program
Referral bonus programs are another trend in the Forex broker market. Traders can invite their friends and families to the broker’s platform, and the broker awards them for this activity. This kind of bonus program is fairly popular because it is beneficial for the broker and the trader. Moreover, this bonus is not one-time limited, and traders can opt for it more than once.
Unfortunately, deriv broker is not offering referral bonus programs. The lack of a referral bonus program might be a deal-breaker for a small number of traders. However, research has shown that it is not one of the top concerns for new traders searching for the right broker.
Referral bonus programs allow the brokers to increase their user base with minimum expenditure. It also benefits the traders because they can invite their friends and families to Forex trading.
Additional bonuses and promotional programs
Deriv broker does not offer any additional bonus or promotional programs for their traders. The bonus and promotional programs are a way to reward their loyal customers. Several brokers offer activity bonuses for their most active traders.
Holiday or return bonuses are also a smart way to keep the traders engaged and ensure that they do not move to another platform.
Frequently Asked Questions
Does Deriv broker offer a bonus for demo accounts?
No, Deriv broker does not offer any bonus for demo accounts.
Deriv broker is a relatively new broker in the Forex exchange. It does not offer bonus programs for the new traders. However, it is a good option for Forex trading if the bonus is not a primary concern. Visit our website if you want to read about the top 10 forex brokers in the world.