Deribit

Details

Broker Deribit
Website URL
Free Demo Account No
US Traders Allowed No
Overall Score 74

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Is Deribit safe? Is Deribit a Reputable Futures & Derivatives Broker?

Can you trust Deribit for margin trading or it is just another scam in the internet?

Read this honest Review and learn more information about Deribit, so you can personally deside if this Broker is what you are looking for!

 

Where Deribit is located?

Deribit is an online trading platform that was operating from Netherlands (Amsterdam) until February 2010. Now, they operate from their Panamese Subsdiary, and this is because they wanted to avoid the mandates from 5AMLD (Fifth Anti Money Laundering Directive) that obligates Cryptobrokers to follow strict KYC policies to their customers. However, platform features will remain the same as well as the security level and the user experience.

Deribit was launched in 2016 and its goal is to offer transparent BTC margin trading brokerage services.  All your transactions are processed only in cryptos (BTC and ETH). Since this broker is operating from Panama, it contains the features of a Unregulated High Leverage Broker.

Deribit is operated by DRB Panama Inc., a corporation incorporated under the laws of Panama, registered at the (Mercantile) Record No 155684990 on 11 September 2019, Panama City, Republic of Panama.

Deribit operates under the domain https://www.deribit.com/

Opening your account with Deribit

To register and start trading with Deribit you just Sign up. Sign up process is easy.

  • Enter your email address (or use a separate email address)
  • Find a username
  • Establish a password and
  • Select a County of Residence

Once you have done all this, you will receive a confirmation email. Just click on the email link that comes to you and you will be able to access your account. The KYC requirements are not taken in account in this case. Deribit plans to expand KYC requirements in the future. KYC will be mandatory for tradrs that require more than 1 BTC in withdrawals over a 24 hour period. Even with this rule, Deribit will have an easy KYC Verification for the majority of retail traders. After all, we do not know many indidual traders that they use to withdraw more than 1btc per day.

 

Deposit and Withdrawal options

To make deposits and finance an account, the trader can only do so through the BTC deposit.

The deposit process is also very easy, just log into the account and find the deposit address. Regarding the withdrawal process, you should only access the “Withdrawal” tab in your personal account. Once it is done, you may enter your wallet address and the amount to withdraw.

Fees & Trading platform

This crypto derivates platform is easy to use and trade both for professionals and newbie traders. It also offers two different theme colours: light and dark version. Deribit also offers the demo account option so you can practice and trade without losing real money or risking your capital. This also allows newbie traders to get familiar with the platform and derivatives trading before they start to trade for real. To make matters worse, he also released a mobile version, This is compatible with iOS and Android in 2017. However, its desktop version is also quite manageable from the mobile browser.

Deribit regulations
Currently, Deribit works as an unregulated platform, however, it has made more than clear that it is a 100% transparent platform with its transactions, in addition to only working with ETH and BTC.
Customer support
This site is available in different languages, such as English, Spanish, Chinese, Russian, Korean, Turkish, and Japanese. Their customer support team can be contacted via email and through their social networks, such as the Twitter account or Telegram group.
The platform has a very complete frequently asked questions section and, last but not least, they have a YouTube channel that provides tutorials and guides on the platform.
What to trade in Deribit’s platform?
It offers a wide variety of option markets and also different cryptocurrency futures. The cryptocurrencies for which Deribit offers futures and options are Bitcoin (BTC) and Ethereum (ETH). Each trader will be able to choose between perpetual and also traditional futures, depending on their preferences, there is also a range of different options, which have short, medium and long-term expiration dates.
Deribit pros and cons
Among the positive aspects of this broker, or pros, we find a transparent team that cares about its clients and you do not have mysterious fees. It also offers futures trading and has options available.
Their business commissions are competitive. There are no withdrawal fees and no set minimum deposit is required. It also offers high leverage.
Cons
Its biggest drawback is that it is not regulated by any entity, despite being completely transparent with its operations.
There is also the fact that all operations, withdrawals, and deposits must be in BTC.


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