Forex Trading on Deriv
The foreign exchange (forex or FX) market is where global currencies are traded. It’s the world’s largest and most liquid financial market, with over USD 6 trillion traded daily.
Thanks to its high liquidity and volatility, traders can easily buy and sell currencies, creating more short-term trading opportunities and potential for greater returns.
On Deriv, you can trade forex by speculating on the price movement of a currency pair — without actually buying or owning the currencies themselves. Before diving into how this works, let’s explore the forex assets available on our platforms.
Forex Assets Available on Deriv
You can trade two main types of forex assets on Deriv:
- Currency pairs
- Forex basket indices
Currency pairs
In forex trading, currencies are always traded in pairs. The first currency in the pair is the base currency, and the second is the quote currency.
For example, in the GBP/USD pair, GBP is the base currency and USD is the quote currency. The exchange rate shows how much one British pound is worth in US dollars.
Currency pairs fall into three main categories:
- Major pairs — the most traded and liquid pairs (e.g. GBP/USD, EUR/USD, USD/JPY, USD/CHF)
- Minor pairs — less liquid pairs that exclude the US dollar (e.g. EUR/CHF, CAD/JPY, GBP/AUD)
- Exotic pairs — one major currency paired with a currency from an emerging economy (e.g. GBP/TRY, NZD/SGD, EUR/ZAR)
Forex basket indices
You can also trade basket indices, which measure the performance of one currency against a basket of five major currencies, each weighted equally (20%).
On Deriv, the following baskets are available:
- AUD Basket – compares the Australian dollar against USD, EUR, GBP, JPY, and CAD
- EUR Basket – compares the Euro against USD, AUD, GBP, JPY, and CAD
- GBP Basket – compares the British pound against USD, EUR, AUD, JPY, and CAD
- USD Basket – compares the US dollar against EUR, GBP, JPY, CAD, and AUD
Ways to Trade Forex on Deriv
Deriv offers three main trade types (contract types) for forex trading:
- CFDs (Contracts for Difference)
- Multipliers
- Options
These contracts allow you to trade based on price predictions, not ownership of the actual currencies.
1. Trading Forex with CFDs
A CFD (Contract for Difference) is an agreement between a trader and a broker to exchange the difference between the opening and closing prices of an asset.
- If you expect the price to rise, you buy (go long).
- If you expect the price to fall, you sell (go short).
Your profit or loss depends on how accurately you predict the direction of the market.
You can trade forex CFDs on Deriv MT5 and Deriv X:
- Deriv MT5 offers advanced tools for technical and fundamental analysis on a multi-asset platform.
- Deriv X provides a fully customisable interface with drag-and-drop widgets for a seamless trading experience.
Both platforms feature high leverage and low spreads for efficient trading.
2. Trading Forex with Multipliers
Multipliers let you amplify your potential profits without increasing your maximum risk.
They include built-in risk management tools such as:
- Stop loss and take profit orders
- Deal cancellation, allowing you to cancel losing trades within a specific timeframe
- Automatic stop-out, ensuring you never lose more than your stake
You can trade multipliers on Deriv Trader and Deriv GO (our mobile app), which allows trading flexibility and mobility — with stakes starting from as low as USD 0.50.
3. Trading Forex with Options
Options enable you to earn a payout by predicting whether a currency pair’s price will rise or fall within a specified time period.
You can trade forex options on:
- Deriv Trader – a simple, intuitive trading interface
- Deriv Bot – allows you to automate trades without any coding
- SmartTrader – a streamlined platform for focused trading decisions
Try Forex Trading Risk-Free
Not ready to trade with real money yet? Open a free Deriv demo account, preloaded with USD 10,000 in virtual funds.
Practise trading forex, test your strategies, and get comfortable with the platforms — all in a risk-free environment.
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