With registration in 2016 and seemingly transparent features, this company could be one of the leading crypto trading platforms worldwide. Thus, they are failing heavily. Not only their number of users is quite poor, but also the company’s reputation.
In most cases, such collapses happen when the company operates ingenuinely. But to find out what’s the reason for this platform’s bad rating, make sure to read this detailed Deribit review carefully.
| Regulated By: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | https://www.deribit.com/; https://www.deribit.us (inactive) |
| Have Warnings From: | AMF, IOSCO |
| Registered In: | Panama |
| Operating Since: | 2016 |
| Trading Platforms: | WebTrader, mobile apps |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos |
| Free Demo Account: | Available |
| How To Withdraw From This Company? | You can only request a withdrawal of the funds via BTC, ETH, and ERC20. Thus, with a warning from the Canadian AMF, the withdrawal process is highly questionable. In case of any issues, send us a message and book a refund consultation with our specialists. |
Legal Info: Is Deribit Legit or a Scam?
When you see a company as transparent as Deribit, it’s hard to believe they are doing something wrong. As can be seen, the company reveals its legal information, registration number, and addresses. Therefore, we have no reason not to trust DRB Panama Inc., which is registered, obviously, in Panama.
However, there’s one important detail that might determine your destiny with this firm. It’s the company’s lack of regulations. But also, warnings from Canadian AMF, and IOSCO. To be fair, once you start reading Deribit reviews, you won’t be surprised by these warnings. After all, they were operating without authorization from local regulatory agencies.
Who Are Deribit’s Victims?
Since 2016, Deribit exchange has been offering its services worldwide, with the exception of a few countries. Among these are the United States and Canada, according to their own web presentation. And yet, some reviews come exactly from users registered in one of these two.
Nevertheless, it appears this firm mainly advertises its services in:
- United States
- Netherlands
- Brazil
- United Kingdom
Generally, before choosing your trading firm, it’s worth comparing their services with others. Therefore, we advise you to check up on our AssetivaX review as well. In case you experience trouble with any of these, our refund team is available for consultation anytime.
Traders Reviews
Regardless of Deribit USA restrictions, we have to say that there are no reviews coming from US traders. At least not on Trustpilot. It should be noted that the AMF has reported another domain that is currently inactive, deribit.us. This one might have been designated for the investors from the States. In any case, there are only 12 reviews on Trustpilot so far, which is quite surprising for a firm registered in 2016.
Whatever the case is, multiple traders reported platform issues, huge spreads, and even being scammed for almost $20K. All these details are quite worrying. But to learn how to avoid such traps, check our Musbex review. Meanwhile, reach out to us for refund assistance if you have trouble withdrawing your funds from the Deribit trading platform.
Leverage, Commissions, Spreads, Fees and Taxes
Quite important to remember is that the Deribit account also includes highly risky leveraged trading. Nothing less but with leverage up to x100. And that’s not the end since the leverage can increase. So, be careful with it.
Anyway, when it comes to fees, the company offers a standard maker-taker structure. For Bitcoin transactions, makers in futures have 0.02% (rebate) fees, perpetual futures 0.025% (rebate) fees, and options fees of 0.04%.
On the other hand, takers can expect 0.05%, 0.075%, and 0.04%, respectively. Liquidation fees are a bit higher, but at least it’s all transparent on the company’s platform.
Bonuses
As can be seen, the Deribit crypto exchange doesn’t offer a standard form of a welcome bonus. However, if you sign up with them, you can get a 50 USDC trading fee rebate. Thus, we advise you to check the conditions for those first.
Deribit Trading Features
Among advanced trading orders, incremental liquidation, and block trade functionality, there’s one quite important feature. It’s the API option that allows users to execute trades, manage balances, and track markets without direct involvement.
Trading Platforms Available
Generally speaking, desktop and laptop users will have to satisfy their needs with a web-based solution. Even though it has all you need, the reliability of the platform is questionable without adequate licenses.
In any case, you can trade spots, futures, and options, all in one place with quite an intuitive and user-friendly platform.
Available Trading Assets
When it comes to tradeable instruments, the company doesn’t lack any of the popular options. Thus, traders have to remember that the only exchange methods are BTC, ETH, and ERC20 native tokens.
All in all, the offer consists of:
- Spot trading – BTC/USDT, XRP/USDC
- Futures – DOT/USDC PERP, XRP/USDC PERP
- Options – MATIC, SOL
Account Types
In general, the company doesn’t have any special account type offers. However, to manage the Deribit price movements, traders can open up to 20 sub-accounts. Thus, they should keep in mind every account will have a separate margin treatment.
Mobile Trading App
Indeed, yes. Whether you are an iOS or Android fan, this crypto trading platform got you covered. Thus, it’s quite surprising there are only a bit over 10k downloads on PlayStore. With activities dating back to 2016, that’s quite a poor download rate.
Demo Account
One of the key advantages of this platform is its virtual account availability. For this feature, you won’t have to complete the KYC process. Thus, if you decide to take a step forward, get ready for it.
Education
Besides regular crypto articles, market research, and news, traders can also apply for options courses with this company. Or simply check the discussions on Deribit Reddit groups. But generally, after warnings from trusted authorities, you may as well seek education somewhere else.
Deribit Withdrawal
With only crypto withdrawal options available, traders can certainly expect potential problems. Overall, crypto exchanges keep the funds in hot and cold storages, especially with these payment options. Therefore, the availability of the funds might determine how fast you can get your withdrawal.
According to the company, it should be immediately. Yet, you should be aware of potential verification malversations, undisclosed fees, etc.
Customer Support
Besides a regular help desk, the company also offers live chat features, e-mail, and Telegram. But when you see their channel consists of only a bit more than 2.5k members, it’s clear they are not as popular as advertised. All in all, you should have adequate support 24/7.
Key Information To Consider About Deribit
With Deribit test features, transparent fees, and solid support options, some might think the company is flawless. However, without regulations and with multiple warnings, traders might change their opinion.
All in all, we advise you to take a few extra research steps before depositing with questionable firms. Thus, if you do deposit anyway, you can always book a free first refund consultation with our experts.
FAQ Section
What is Deribit?
Deribit is a Panama-based crypto trading platform offering a wide range of crypto investing services since 2016.
Is Deribit Trustworthy?
No. Deribit exchange operates without any licenses and regulations for its services. Also, there is a warning from the Canadian AMF against them.
What is the Fee Rate of Deribit?
With the maker-taker model, traders can expect fees of up to 0.9% depending on the trading feature. But if you experience problems with these, contact us for refund assistance.
Source: https://scambrokersreviews.com/crypto-scams/deribit-review/
