A look into the profile of Deriv
One of TradeOn Summit's main exhibitors this year is Deriv, the newly rebranded Binary.com, a multi-award-winning pioneer in online retail trading.
With a fresh look, new products, and enhanced user experience, Deriv is continuing the Binary.com legacy of making online trading accessible to everyone. Its approach is that trading should be simple and flexible, supported by a trusted and reliable broker. It's a formula that works, looking at its 20-year history in the industry, and a growing clientele of more than 1 million worldwide.
We catch up with Deriv CEO, Jean-Yves Sireau, to learn more about the innovative spirit of this company and his ambitions for serving retail traders worldwide in the years to come.
Your company has been around for slightly more than two decades, and even from the very beginning, you've set yourself apart with some bold ideas. Could you tell us how it all started?
Jean-Yves: Deriv had its beginnings in 1999, though at the time, the set-up was smaller, and the financial trading landscape was different.
In those days, derivative products were only traded by big banks and hedge fund managers, and they were doing so in large quantities. I realised there was no opportunity at the time for retail investors to invest in the simplest of all derivatives contracts -- the fixed-odds trade. So, we created the systems, methods, and algorithms for a fixed-odds trading platform for retail investors. We essentially opened up the opportunity for ordinary investors to make small trade, and we became one of the world's first companies to do so.
You took a big move to rebrand Binary.com to Deriv this year, in the midst of the COVID-19 pandemic. What was the motivation behind it?
Jean-Yves: If you look at our track record and history, we've always been about moving people to "get trading." From releasing platforms and trade types to allowing others to create apps and services by providing open-source APIs -- we've never been afraid to innovate and reinvent ourselves to better serve our customers. This is one of the reasons we have remained relevant to our customers for this long in a highly competitive industry.
Binary.com has been a big part of our company, and it laid the foundation for who and where we are today. But as our products and customer base have expanded, we felt it was time to create a new brand and experience using the best lessons from the past 20 years.
Could you tell us what traders can find on Deriv?
Jean-Yves: Deriv delivers multiple trading options centred around three core products: DTrader, for both new and experienced traders; DBot, which allows users -- even those with zero coding knowledge -- to create trading robots; and Deriv MetaTrader 5 (DMT5), the all-in-one FX and CFD trading platform for professional traders. SmartTrader, the popular trading platform from Binary.com, will continue to be available to clients on Deriv.com.
Deriv is also introducing new products like multipliers that combine the upside of margin trading with the simplicity of options. New features like P2P (peer-to-peer) Cashier, and its mobile app, DP2P, which facilitates seamless financial transactions, are being introduced. These new developments will provide users with a better trading experience on Deriv.com.
As Deriv steps into its third decade of business and faces greater competition in the financial trading space, what would you say is the driving force behind Deriv?
Jean-Yves: There are two main things that we strive to uphold -- great products and great service.
I've always been a strong believer that if you build a great product, the customers will come. Which is why we focus a lot of effort on innovating around product and experience. The goal is to offer more ways for traders to trade simply, flexibly, and reliably.
Our other focus is our customers. We try to understand what our customers really want. To date, around 1.7 million traders from around the globe have trusted us with their money and traded with us. We work around the clock to make sure our customers can trade securely and reliably. This is something I'm most proud of, our 20-year record of quality service.
What's next for Deriv?
Jean-Yves: We want to continue our mission to make Deriv a place where any trader can discover the widest selection of derivatives to trade. This means expanding the products we offer without complicating the experience. For example, we recently introduced multipliers, which combine the upside of margin trading with the simplicity of options. I'm also excited about DBot, a product that allows traders to automate trading strategies without any coding knowledge.
Our roadmap is a mix of new things that show customers what's possible and improvements based on listening to customers and understanding how they engage with the service.
You're one of the main exhibitors at TradeOn this year. What can visitors to your booth expect?
Jean-Yves: We're glad to participate in the virtual TradeOn Summit this year, and it's a great platform for us to meet traders and clients of ForexLive.com as well as Finance Magnates Group.
Visitors to our booth will get to know what the new Deriv brand is all about and how easy and exciting it is to trade on Deriv.com. We're also taking this opportunity to unveil our multipliers product.
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Deriv is one of the major exhibitors at this year's TradeOn Summit.
Drop by the Deriv booth at the TradeOn Summit, or create a free demo account to get a taste of the Deriv experience right now.
