About the Client
Founded in 1999, and with offices in 13 countries, Deriv is one of the world’s largest online brokers. It offers CFDs and other derivatives on forex, stocks and indices, cryptocurrencies, and commodities.
As part of its mission to make trading available to everyone, everywhere, Deriv wanted modern products to attract new customers. They needed a platform that could satisfy younger traders who demand excellent UI and UX, regardless of the size of their accounts.
The client needed a modern, simple, and user-friendly platform that offers traders and FX dealers advanced trading tools and flexible risk management. It had to be scalable, able to grow with the business and handle the load and incorporate the company’s proprietary synthetic indices.
Impressed by our long history, reliability, and track record, and our platform’s functionality, usability, and low latency, Deriv chose Devexperts to develop a solution to fit their business needs.
Their existing system was very complex. In order to tackle such a difficult task, a team with strong technical skills and great experience in the brokerage business was required. Moreover, we decided to use DXtrade – our robust and flexible trading platform – to provide our client with a customized turnkey solution for desktop and mobile.
We worked closely with our client’s to understand their needs. And we introduced modern tools to help their new and existing customers make more informed trading decisions. Users can now analyze their trading performance and habits on an instrument, asset class, or account level, and monitor metrics such as intraday performance.
We added the kind of interactive elements younger traders demand. Users can enter notes on their accounts to record their trading plans and strategies. The information is easy to access and secure.
More personalization was built into the platform so that Deriv and its customers have control over how the platform is set up. The broker can configure layouts and watchlists to match their customers’ expectations. Traders have the flexibility to set up workspaces and resize widgets to their needs.
Our modular tabs technology means users can combine widgets within their workspace and link them so that the information is connected. If a symbol is selected in one widget, it’s automatically updated across all linked widgets, improving the user experience.
The platform also provides pop-outs so users can take advantage of multi-screen setups.
And the trading platform complies with the broker’s requirement for flexible risk management. DXtrade allows Deriv to set up risk management according to various user groups on an instrument, group, and account level – in any combination.
“Startups and established brokers know that trading platforms are not merely tools. Trading platforms are key elements of their business. Broker success depends heavily on how simple and user-friendly their platform is for clients and how smoothly and quickly it can be scaled to support x2, x5, x10, and even x100 user accounts. To achieve this, some brokers are building their own software, which is a long and expensive route. The path to creating usability and scalability for the Deriv X platform was extremely short since it’s a white label of DXtrade. I am excited to see Deriv’s international community of traders enjoying Deriv X – a platform we built with passion and integrity.”— Vitaly Kudinov, SVP of Business Development at Devexperts
The broker’s customers can now trade CFDs on the most popular financial markets – forex, commodities, and cryptocurrencies – and access a wide range of advanced trading tools. In addition, Deriv was able to incorporate its proprietary synthetic indices into the platform, which are available to trade 24/7.
The user-friendly interface means the platform is easily accessible for beginners and professional traders.
After the platform’s launch in October 2022, user numbers have risen by over 50% in less than a year. Such growth has been beyond the client’s expectations, but the platform’s capacity has easily handled the user inflow.
“Innovative thinking has always been the core of our growth strategy. Deriv is continuously working on introducing new products and services to give our clients the opportunity to utilize the latest technology, maximizing their probability of success. We put our clients at the center of everything we do, and use all our resources to help them always be one step ahead of the market.”— Jean-Yves Sireau, CEO of Deriv