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Background on Deriv Payment Agents
Are you looking for a way to earn extra income? Becoming a Deriv payment agent may be the solution you're looking for. As a payment agent, you'll be responsible for facilitating transactions between Deriv and its clients. Follow this guide to learn how to become a Deriv payment agent,.
With this knowledge, you'll be on your way to earning money as a Deriv payment agent in no time.
What Is A Deriv Payment Agent?
Deriv payment agents are independent exchangers who have been given the authority to process deposits and withdrawals for other Deriv traders' accounts using local payment methods. In other words, they make it possible to move funds from one Deriv account to another.Visit Deriv Official Website
How Do Payment Agents Work In Deriv?
Deriv payment agents work by allowing clients to deposit and withdraw using methods that are not supported on the Deriv website.
For example, a trader in Zimbabwe may want to fund their account using mobile money like Ecocash but they can't do that directly on the Deriv website.
They can contact a local Deriv payment agent and then they arrange to have the payment agent fund their account while they pay them using the Ecocash. They can use the deposited funds to trade forex, binary options, synthetic indices and stocks on Deriv.
In a withdrawal scenario, the trader may wish to withdraw but their withdrawal method is not supported by Deriv. It may also be that their preferred withdrawal method does not provide services to their country.
What happened when Skrill closed accounts for some countries including Zimbabwe & Zambia comes to mind. The trader will then withdraw funds via an agent and that agent can pay the trader either using cash, bank transfers or mobile money as per the arrangement.
In both instances, if payment agents did not exist then the trader would have been stuck and would not have had the opportunity to either deposit or withdraw.
How To Become A Deriv Payment Agent
To become a Deriv 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 & learn how to verify the account here)
- 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)
- You can also apply for a Deriv partner account. The Deriv partner account will allow you to earn even more lifetime passive commission from your referred traders and it will also expand your client base. Application for the account is free and you can apply here. This is different from your usual trading account.
How To Register As A Payment Agent On Deriv
- 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
How To Deposit To A Client's Account As A Deriv Agent
1. Log into your Deriv account & click on Cashier>Transfer To Client (you will only see this option after you have been approved as a Deriv agent) You will see a page like this
2. Enter the Clients login ID (CR Number). The client gets this number after registering for a real account on Deriv.
3. Enter the amount and any description needed. Click Transfer.
4. You will see a confirmation page with the clients' name, Cr number and amount. Verify these details and complete the transfer
How To Process Withdrawals As A Deriv Payment Agent
1. The client gets in touch with you and confirms your Deriv agent name and cr number.
2. They log into their account and click on Cashier>Payment agents
3. They click on ‘request withdrawal form' and confirm via email
4. They put in your Deriv Payment agent details
5. They confirm the transactions and the funds are moved from their account to your account
6. You pay them using the pre-agreed method
Advantages Of Becoming A Payment Agent On Deriv
- You set the commission rate that you want for processing deposits & withdrawals
- You can perform multiple deposits and withdrawals per day.
- You choose the countries you want to serve
- You can easily convert your trading profits to local currency at any time by funding other traders' accounts
- You can make transfers 24/7
- You can earn even more lifetime commission by signing up as a Deriv affiliate partner
- You increase your business exposure eg if you offer a signal service you can then get more clients
- Application for a Deriv payment agent account is free and you can close your account at anytime
- You can still use your account to trade normally
- You can protect yourself from some of the online forex scams targeting Zimbabweans
- you can process deposits and withdrawals for clients who have not verified their trading accounts
How Do You Make Money As A Deriv Payment Agent?
Making money as a Deriv payment agent is pretty straightforward. You simply charge a commission for both deposits and withdrawals. If your commission rate for both deposits and withdrawals is 5% you will make that much on every transaction you do. For Eg, if a client wants to deposit $100 they will have to send you $105.
If they want to withdraw they will send you $100 and you will send the $95 equivalent. Your profitability will depend on the number of transactions that you perfom so you will need to properly advertise your services. The more reliable you are, the more you will come to be seen as the best payment agent on Deriv.
Another great way to increase your earnings from Deriv will be to register as an affiliate partner. This will allow you to make money from each and every trade that your referred clients will make on Deriv for life. This will be passive income that you can earn while you sleep!Open A Deriv Affiliate Partner Account Here
How Do You See The Deriv Payment Agent List For Your Country?
- log in to your Deriv real account
- Click on Cashier
- Click on Payment agents
- You will see a list of payment agents that you can use to deposit or withdraw with
Visit Deriv Official Website
FAQs On Deriv Payment Agents
Deriv payment agents work by allowing clients to deposit and withdraw using methods that are not supported on the Deriv website eg cash.
Withdrawal or deposits via payment agents on Deriv are instant.
yes, simply contact live chat and they will enable this feature for you.
$10 or equivalent in your currency
You will need to have this activated first. Contact live chat and they will do this for you.
Yes, you can.