How To Easily Register As A Deriv Payment Agent (2021)

Background on Deriv Payment Agents

Use Table Of Contents To Jump To Any Section

Deriv payment agents have become a very popular way of funding traders account with the broker since their launch in 2020.

In this article, you will learn how to register as a payment agent on Deriv so that you too can enjoy the convenience from anywhere.

What Is A Deriv Payment Agent?

Deriv payment agents are independent exchangers who have been given authority to process deposits and withdrawals for other Deriv trader’s accounts.

Why Are Deriv Payment Agents Important?

Deriv payment agents are important because they allow clients to deposit and withdraw using methods that are not supported on the 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.

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 & Togo 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.

FXTM Copy Trading

Requirements For Registering As Deriv Payment Agent

  • A fully verified Deriv trading account (If you don’t have a Deriv account you can apply for one here & learn how to verify the account here)
  • Name, email address, and contact number
  • 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.
Open A Deriv Affiliate Partner Account Here

 

How To Register As A Payment Agent On Deriv

  • Send an email with the above requirements to partners@deriv.com.
  • 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 their payment agent list.
  • You can then start processing deposits and withdrawals on behalf of clients

How To Deposit To A Clients’ Account As A Payment Agent On Deriv

1. Log into your Deriv account & click on Cashier>Transfer To Client (you will only see this option after you have been approved as an agent) You will see a page like this How To Register As A Deriv Payment Agent

2. Enter the Clients login ID (CR Number). The client gets this number after registering for a real account on Deriv.

Looking for a CR Number on Deriv account

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 Clients Can Withdraw Via You As A Deriv Payment Agent 

1. The client gets in touch with you and confirms your 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 Deriv Payment Agent 

  • 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

Have you used a Deriv payment agent before? Would you like to become one? Share your feedback in the comments below.

Read: How To Open A Free Deriv Synthetic Indices Account From Zimbabwe in 2021

Learn to make money online

Leave a Reply

Your email address will not be published. Required fields are marked *