Payment agents allow you to deposit and withdraw from your Deriv synthetic indices account via local payment methods that are not available on the Deriv website.
The local payment methods that you can use include:
- bank transfers
- mobile money e.g e-wallet transfers in South Africa, M-pesa, EcoCash etc
How To Deposit Via Payment Agents
- Log in to your Deriv account
- Click on Cashier and then on Payment agents
- You will see a list of payment agents that you can use to deposit. Agents can be filtered using the payment methods they accept.
- Click on an agent that you like to get their contact details
- Contact the payment agent and alert them that you want to deposit via them. They will then let you know of other commission fees and the payment methods they take. If you are in agreement you can proceed to the next step. If not, you can go back to the payment agents list and find another agent.
- Pay the agent using your pre-agreed method and send them your proof of payment. You can even meet face-to-face for cash transactions.
- Give that payment agent your name and your cr number so that they can verify if they are making the payment to the right account. The CR number is a unique string of numbers starting with CR that is used to identify your Deriv account. You can see an example of a cr number in the image below.
- The payment agent will then make the transfer and the funds will reflect instantly in your account. If needed, the payment agent can send you proof of transfer like the image below.
- Transfer the funds from your main Deriv real account to your DMT5 synthetic indices account. Click on Cashier>Transfer and then move the funds and start trading.
How To Withdraw Via Payment Agents
- Move the funds from your synthetic indices account to your main Deriv account. Click on Cashier>Transfer and transfer the amount you wish to withdraw.
- Click on Cashier > Payment Agents > Withdraw. Choose the payment agent that you want to withdraw with from the list and contact them. They will let you know of their commissions and the payment methods that they will use to pay you. If you are in agreement you can proceed to step three. If not, you can go back to the payment agents list and find another agent.
- Get the payments agent’s CR number and name and enter these details where they are required. You will need these details to verify if you are withdrawing to the right agent. Once you have confirmed the withdrawal the funds will be instantly transferred to the agent’s account. You will both get an email confirming the withdrawal.
- The agent will then use your pre-agreed local payment method to pay you less their commission. The withdrawal via payment agent will then be complete. The whole process should take ten minutes or less.
Payment agents make depositing and withdrawing very convenient and this is a major advantage of trading synthetic indices.
How To Become A Deriv Payment Agent
To become a Deriv payment agent you will need the following:
- A fully verified Deriv trading account (If you don’t have a Deriv account you can easily register one here & verify the account )
- Name, email address, and contact number
- At least US$2000 account balance in Deriv at the time of application
- Payment Agent name. This is the name that will be displayed on the payment agent list for your country
- Your website and social media pages/channels (Facebook/Instagram/Telegram/
WhatsApp) where you promote your payment agent services
- A list of accepted payment methods (these are the payment methods that are not accepted on Deriv that you will use to get paid by traders e.g local bank transfer, mobile money & cash)
- The commissions to be charged on deposits and withdrawals (subject to Deriv’s established thresholds of 1-9%)
- You may also be asked to state the methods you will use to fund your payment agent account so that you have the balance needed to deposit to the client’s accounts (e.g PerfectMoney or AirTm)
Send an email with the above requirements to firstname.lastname@example.org. Deriv will review your application and get in touch for further information and the next steps.
After final approval from Deriv’s compliance team, they will publish your details on the Deriv payment agent list. You can then start processing deposits and withdrawals on behalf of clients.