Introducing Binary and Deriv

Introducing Binary and Deriv

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We are proud to announce Binary and Deriv as the latest members of the Financial Markets Association of Vanuatu.

Binary has been a trusted online trading platform since 2000, while Deriv is a new platform launched in 2020 that hopes to build on Binary’s faultless reputation and continued success.

Just like their fellow FMA Vanuatu members, Binary and Deriv had to satisfy the following criteria in order to obtain and renew their Financial Dealer License in Vanuatu:

  1. They have demonstrated expertise in financial services and digital transactions by presenting their qualifications with at least 5 years of experience in fund management, securities and investment. This has been confirmed by at least two independent references. 
  2. They have clear, structured, and ongoing operations. They’ve demonstrated this by providing an outline of their business plan, a prospectus, a client agreement, three-year financial projections, and a statement clearly detailing the activities to be carried out and the products that will be sold.
  1. They are financially sound. In addition to annual license fees, they maintain a bond of 5 million Vanuatu Vatu with the VFSC.
  1. Their executives have a reputation for integrity and honesty, which they’ve demonstrated by submitting a “Fit and Proper” declaration, a copy of their passports, police clearance certificates, proofs of addresses, curriculum vitae/ resumes and copies of any diplomas.
  1. They have systems in place for anti-money laundering and they combat the financing of terrorism. This includes the maintenance of compliance documents such as an AML/CTF Manual, a staff procedure manual, and a risk assessment report made by an AML/CTF-qualified individual who is independent from the company.
  2. They have audited financial reports and statements which they submit quarterly to the VFSC, including up-to-date information on their Vanuatu registered agent, their customers and any complaints they may have made, the jurisdictions where their products are offered, their customer vetting process, and the number of customers they’ve refused to serve and their reasons for doing so.
  1. They will use the Common Reporting Standard (CRS) as per international agreements to fight tax evasion and allow the automatic exchange of financial account information.

About Binary and Deriv

Binary was originally founded as Regent Markets in 1999 with a mission to make online trading accessible to everyone. The company opened its first office in Malta. In 2004 they opened their second office in Cyberjaya in Malaysia, the country’s Silicon Valley. Following a series of awards, including “Best Fixed-Odds Financial Trading Provider” from Shares Magazine UK and “Best Customer Communication Firm” from Investors Chronicle, Binary.com was launched in 2013 and quickly granted access to service clients within the European Union. In 2018, they established their third office, again in Malaysia, followed by further swift office openings in Dubai and Paraguay. Deriv.com was launched in 2020, followed by further office openings in Cyprus, Rwanda, and two new offices in Malaysia (totaling four offices in the country).

For more information about Binary, click here.

For more information about Deriv, click here.

Our founding members

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