Let me share something that might surprise you about Deriv.
Deriv boasts some impressive stats—2.5 million customers worldwide and a solid 4.5/5 rating from 49,000+ Trustpilot reviews.
Despite this, Deriv has made an interesting choice that affects traders like you and me.
Here’s the deal (and why you need to pay attention): MT4, the platform that traders swear by (myself included), isn’t part of Deriv’s lineup.
Yes, you heard that right.
MT4 remains the gold standard among trading platforms.
Yet Deriv chose a different path, offering alternatives like Deriv MT5, Deriv X, and SmartTrader instead.
I’ve spent countless hours exploring these platforms (the learning curve was real).
I’m here to walk you through everything you should understand about Deriv’s platform choices and what this means for your trading journey.
Whether you’re thinking about opening a Deriv account or already trading with them, stick with me.
You’ll discover exactly what options you have and how to make the most of them—no sugar coating, just real talk about what works and what doesn’t.
The Real Story Behind Deriv MT4
Deriv’s story runs deep.
Since 1999, they’ve been a big name in online trading (forex, CFDs, and options markets, you name it).
Deriv made the bold decision to drop support for the fan-favorite MT4 platform.
Let me explain to you why they made this choice and how it affects traders like you and me.
Why Deriv Dropped MT4 Support
Here’s something that might shock you (it shocked me too).
Deriv flat out dropped MT4 platform support.
Despite MT4’s massive popularity among traders (myself included), they went all-in on MT5 and their own platforms instead.
The industry’s changing fast.
MetaQuotes just announced they’re pulling the plug on older MT4 versions by December 1, 2024.
No wonder brokers are scrambling to adjust their offerings.
In a rapidly changing market, Deriv chose to focus on the newer, more advanced platforms and move on from MT4.
Impact on Forex Traders
Let me keep it real with you—this hits beginners the hardest.
Why?
They love MT4’s user-friendly interface.
Things got even trickier when Apple kicked both MT4 and MT5 apps off their App Store.
At least Android users can still grab these platforms from Google Play without breaking a sweat.
Current Platform Offerings
Deriv didn’t just leave traders hanging (that would be crazy).
They’ve cooked up quite a menu of alternatives:
Deriv MT5 (their flagship platform) brings some serious perks to the table:
- Zero-commission trading on forex, stocks, commodities, cryptocurrencies
- Exclusive Derived Indices (more on that in a bit)
- No overnight charges on selected assets (yip yip)
But wait, there’s more (I’ll keep this short):
- Deriv cTrader: Want to copy pro traders? This one’s for you
- Deriv X: Packed with TradingView charts and 110+ analytical tools (tech lovers rejoice)
- Deriv Trader: Never lose more than your initial investment—guaranteed
- Deriv Bot: Run automated strategies 24/7 without touching a line of code
They’re not playing around with account options either—Standard, Zero Spread, Swap Free, Financial accounts, take your pick.
The platform’s secret sauce?
Their derived indices.
These babies run 24/7, mirroring real-world markets without external noise.
For my crypto friends out there (I see you), here’s a game-changer: You can denominate your account in Bitcoin, Tether, Ethereum, and Litecoin.
No more conversion fee headaches.
Plus, they’ve thrown in multipliers that combine the best of CFDs and options.
Understanding Your Trading Options
Since Deriv waved goodbye to MT4, traders need to understand their alternatives (trust me, there are quite a few).
MT4 was simple (and great for beginners).
There are, however, many other platforms which have their own upsides.
Let me walk you through the trading platforms that could make (or break) your success in financial markets.
Alternative Platforms for Deriv Traders
Deriv Trader (one of my personal favorites) stands out from the crowd.
Why?
It shows you exactly what you could win or lose upfront—no surprises here.
Here’s what you can do with it:
- Play the market with Digital Options (predict those price swings)
- Get fancy with Accumulators (trade within ranges)
- Quick trades? Turbo Options got you covered
- Want more juice? Multipliers amp up your exposure
For my automation-loving friends out there, Deriv Bot lets you build trading robots without touching a line of code.
Pretty neat, right?
And don’t sleep on SmartTrader—it’s like that perfectly balanced cup of coffee, powerful enough for pros but smooth enough for beginners.
MT5 vs MT4: Key Differences That Matter
Remember when I said MT5 brings some serious upgrades to the table?
Let me break it down for you.
First off (and this is huge), MT5 bumped up order types from four to six.
Those new buy stop-limit and sell stop-limit orders?
Game changers for precise entries and exits.
Check out these numbers (they might surprise you):
- MT5: 44 graphical objects
- MT4: Only 24
- MT5: 21 timeframes
- MT4: A mere 9
MT5’s Strategy Tester leaves MT4 in the dust with:
- Complex backtesting settings (for you data nerds out there)
- 64-bit processing magic
- Lightning-fast test completion
MT5 plays nice with both hedging and netting strategies.
That First in First Out (FIFO) method you’ve been eyeing?
MT5’s got your back.
For the newbies reading this, MT5’s built-in Economic Calendar is pure gold.
No more jumping between websites for market updates like you’d do with MT4.
Now, I’ll be honest with you—some traders find MT4’s simpler interface more comfortable at first.
But here’s the kicker: MT5 lets you trade everything from stocks to crypto alongside forex.
Talk about keeping all your eggs in different baskets!
Time to Move Forward
Trading without MT4 feels like learning to drive a new car (I’ve been there).
But here’s the thing: Deriv’s alternatives aren’t just replacements—they’re upgrades in disguise.
Look, MT4 was great (still is), but Deriv saw the writing on the wall with MetaQuotes pulling the plug on older versions.
Smart move?
I’d say so.
2.5 million traders are making it work without MT4 on Deriv.
That’s not just a number, that’s proof that the platform doesn’t make the trade.
Whether you’re eyeing MT5’s fancy features or Deriv’s home-grown platforms, in my years of experience, it’s not about the tool, it’s about how you use it.
The next move is yours to make.
Don’t get hung up on MT4’s absence—focus on mastering whatever platform you choose.
Trust me when I say this: Your strategy and market understanding matter more than any platform ever will.