Deriv X is a user-friendly platform with a variety of trading options. It offers all traders powerful tools and flexible options to help them make informed trading decisions. 

In this article, we will walk you through how to trade on Deriv X, from setting up your account to understanding advanced trading features. At the end of the day, we believe that you should have a clear understanding of how to navigate Deriv X, place trades, and optimize your trading strategies for success. Now, before jumping into how to trade on Deriv X, it is essential to understand what Deriv X is.

What is Deriv X?

Deriv X is an advanced trading platform offered by Deriv, one of the leading online brokers. It provides access to a variety of financial instruments, including forex, indices, commodities, and cryptocurrencies, all within an intuitive and customizable interface.

Features of Deriv X

1. Wide Range of InstrumentsYou can trade CFDs (Contracts for Difference) on multiple asset classes like forex pairs, stocks, commodities, and cryptocurrencies.
2. Advanced Charting ToolsDeriv X offers professional-grade charting tools, indicators, and drawing tools to help you analyze the market.
3. Customizable InterfacePersonalize your trading dashboard and layout according to your preferences for ease of use.
4. Advanced Order TypesDeriv X allows you to set up various orders such as stop-loss, take-profit, and limit orders, enabling you to manage your trades effectively.
5. Demo AccountIf you’re new to trading or the platform, you can start with a demo account to practice without risking real money.

Setting Up Your Deriv X Account

Before you can start trading, you need to set up your Deriv X account. The registration process is simple and quick. Here’s how you can get started:

1. Create an AccountGo to the official Deriv website and click on “Sign Up.” Provide the necessary details, such as your email address and password.
2. Verify Your IdentityAs part of the regulatory requirements, Deriv will ask you to verify your identity. You will need to upload a copy of your ID, such as a passport or driver’s license.
3. Deposit FundsOnce your account is verified, you can deposit funds. Deriv supports various deposit methods, including bank transfers, credit/debit cards, and e-wallets.
4. Choose Deriv X PlatformAfter funding your account, select Deriv X as your trading platform. Deriv offers various platforms, but Deriv X is the most advanced for professional traders.
5. Start with a Demo Account
   If you’re new to trading or the platform, it’s a good idea to start with a demo account. This allows you to practice trading with virtual funds without risking your real money.

Deriv X platform navigation

Once you’ve set up your account and chosen Deriv X as your trading platform, it’s time to familiarize yourself with the layout. The platform is designed to provide a smooth and customizable trading experience.

Key Areas of the Deriv X Dashboard

1. Market WatchThis section displays a list of available assets (forex, commodities, stocks, and cryptocurrencies). You can add or remove assets from this list based on your preferences.
2. Charting AreaHere, you can view real-time price charts of the selected asset. Deriv X offers various chart types, such as candlestick charts, line charts, and bar charts, to suit different trading strategies.
3. Order BookThis area displays your open positions and allows you to place new orders. You can easily manage your trades by setting stop-loss and take-profit levels.
4. Trade ExecutionThe trade execution panel allows you to place buy or sell orders instantly. You can customize your order types and set the trade size according to your preference.
5. Tools and IndicatorsDeriv X provides a wide range of technical indicators such as moving averages, Bollinger Bands, and RSI, which help you analyze market trends and make informed decisions.

How to Trade on Deriv X effectively

Now that you’re familiar with the platform’s layout, let’s go through the process of placing a trade on Deriv X. 

Select Your Asset

From the Market Watch section, choose the asset you want to trade. You can select from currencies, commodities, indices, or cryptocurrencies.

Analyze the Market

Use the charting tools and indicators to analyze the asset’s price action. You might want to consider both technical and fundamental analysis for better decision-making.

Choose Your Order Type

Decide whether you want to place a market order (buy/sell at current price) or a limit order (buy/sell at a specific price). You can also set up stop-loss and take-profit orders.

Set Trade Parameters

Enter the amount you wish to trade. Deriv X allows you to select your leverage, which amplifies both potential profits and losses.

Place Your Order

Once everything is set, click on the “Buy” or “Sell” button to execute your trade. You can track your open positions in the order book section.

Monitor and Exit Your Trade

Keep an eye on your trade and exit when your target is hit or when the market conditions change. If necessary, you can modify your stop-loss and take-profit levels to manage your trade actively.

Deriv X advanced trading tools

As you become more comfortable with the platform, you can explore advanced tools and features that Deriv X offers. These tools can help you refine your trading strategies and manage risk more effectively. Some of the Deriv X advanced trading tools includes:

1. Advanced Charting ToolsWith multiple chart types, timeframes, and indicators, you can perform detailed technical analysis.
2. Customizable LayoutYou can arrange your workspace according to your preferences, enabling a smoother trading experience.
3. Trading SignalsDeriv X integrates trading signals, which provide real-time alerts based on market conditions, allowing you to make timely trading decisions.
4. Multiple Order Types
   Beyond standard market and limit orders, Deriv X offers more sophisticated order types, such as trailing stops, which can help lock in profits as the market moves in your favor.
5. Risk Management ToolsYou can set up stop-loss orders, take-profit orders, and trailing stops to manage your risk and ensure your capital is protected.

Conclusion

In conclusion, we believe that you’ve had a good understanding how the Deriv X platform works. All you need to do is to sign and start setting up your account, utilizing advanced tools and begin to confidently place trades across a wide range of financial instruments.

To make the most of your trading journey, remember to practice using a demo account, start with manageable amounts, and constantly refine your strategies based on market trends.

Ready to start trading on Deriv X? Sign up now and explore the platform’s powerful features. Happy trading!

Frequently Asked Questions (FAQs)

What is Deriv X?

• Deriv X is a trading platform offered by Deriv that provides access to a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies.

How do I set up a Deriv X account?

• To set up a Deriv X account, visit the Deriv website, create an account, verify your identity, deposit funds, and choose Deriv X as your platform.

Is Deriv X suitable for beginners?

• Yes, Deriv X is user-friendly and offers a demo account, making it ideal for beginners to practice and develop their trading skills.

What are the fees for trading on Deriv X?

• While Deriv X doesn’t charge spreads on some trades, you will need to pay commissions on the trades you place. Be sure to check the commission structure on the platform.

Can I trade on Deriv X using a mobile device?

• Yes, Deriv X is available on mobile devices, allowing you to trade on the go.