D
Deriv
3.8 / 5Score: 3 / 4
Tighter spreads, stronger regulation, and flexible leverage make Deriv the all-around performer.
- Min deposit
- $5
- Max leverage
- 1:1000
- Spread from
- 0.5 pips
- Regulators
- FCA, MAS
Reviewed by Experts Updated 9/2/2026
Deriv vs Phillip Nova: Which Broker Wins in 2026?
Deriv and Phillip Nova both target multi-asset traders, but they differ sharply on regulation, spreads, and leverage. Our proprietary research gives Deriv the edge overall, though Phillip Nova still appeals to cost-conscious beginners.
PN
Phillip Nova
3.4 / 5Score: 1 / 4
A zero-deposit entry point built for cautious beginners who want simplicity over complexity.
- Min deposit
- $0
- Max leverage
- 1:20
- Spread from
- 0.6 pips
- Regulators
- MAS
Overall Winner
Deriv
Best for Beginners
Phillip Nova
Lowest Fees
Deriv
Top Regulation
Deriv
Side-by-side comparison
Core features compared head-to-head.
| Feature | D Deriv | PN Phillip Nova |
|---|---|---|
| Overview | ||
| Rating | 3.8 / 5 | 3.4 / 5 |
| Founded | 1999 | 2005 |
| Headquarters | Limassol, Cyprus | Singapore |
| Regulation | FCA, MAS | MAS |
| Fees & Limits | ||
| Min Deposit | $5 | $0 |
| Spreads From | 0.5 pips | 0.6 pips |
| Commission | None | None |
| Max Leverage | 1:1000 | 1:20 |
| Platforms & Markets | ||
| Trading Platforms | MT5, Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, POEMS |
| Markets Offered | Forex, Cfd, Crypto, Indices, Commodities | Forex, Cfd, Indices, Commodities, Crypto |
Trading & non-trading fees
Min Deposit
Deriv
$5
Phillip Nova
$0
Spreads From
Deriv
0.5 pips
Phillip Nova
0.6 pips
Commission
Deriv
None
Phillip Nova
None
Deposit Fees
Deriv
None
Phillip Nova
None
Withdrawal Fees
Deriv
None
Phillip Nova
None
Pros & cons
D
Deriv
Pros
- Holds two tier-1 regulatory licences for stronger client protection
- Tighter spreads from 0.5 pips reduce trading costs over time
- High leverage ceiling of 1:1000 suits experienced, capital-efficient traders
- No commission charges on top of competitive spreads
- Supports the widely trusted MT5 platform in addition to proprietary tools
- No deposit or withdrawal fees on transactions
- Long operating history since 1999 building institutional experience
Cons
- Minimum deposit of $5 is low but not as accessible as Phillip Nova's $0 entry
- High leverage up to 1:1000 increases risk exposure for inexperienced traders
- Proprietary platform ecosystem alongside MT5 may require extra learning for new users
- Headquartered outside major English-speaking financial hubs, which may concern some traders
PN
Phillip Nova
Pros
- No minimum deposit required, ideal for first-time traders
- Conservative 1:20 leverage cap helps limit downside risk
- No commission charges on trades
- No deposit or withdrawal fees
- Established since 2005 with a solid Singapore market presence
- Dedicated POEMS platform adds a specialized in-house trading tool
Cons
- Only holds a single regulatory licence (MAS), less redundancy than dual-licensed peers
- Wider spreads from 0.6 pips compared to more competitive rivals
- Maximum leverage of 1:20 limits capital efficiency for experienced traders
- No MT5 or other widely adopted third-party platform support
- Lower overall rating (3.4/5) reflects narrower regulatory and pricing competitiveness
Our expert verdict
Editor's verdict
Overall winner Deriv
Lowest fees Deriv
Best regulation Deriv
Better for beginners Phillip Nova
Deriv is our top pick in this matchup, earning a 3.8/5 on our rating scale versus Phillip Nova's 3.4/5. Deriv wins on regulatory strength, tighter spreads (0.5 pips vs 0.6 pips), and much higher maximum leverage (1:1000 vs 1:20). Phillip Nova remains a viable alternative for beginners who want a $0 minimum deposit, but Deriv delivers the stronger all-around package for most traders.
Regulation & Safety
Regulatory strength is one of the biggest differentiators in this comparison. Deriv is licensed by two tier-1 authorities — the FCA in the UK and MAS in Singapore — giving traders exposure to two robust regulatory frameworks with strong client protection standards.
Phillip Nova, by contrast, is regulated solely by MAS. While MAS is a respected regulator with strict capital and conduct requirements, having only a single licence means less redundancy and fewer avenues for dispute resolution if issues arise across jurisdictions.
For traders who prioritize regulatory diversification and multi-jurisdictional oversight, Deriv's dual-licence structure offers a clear safety advantage. This is reflected directly in our independent rating, where Deriv scores 3/4 on regulation versus Phillip Nova's 1/4.
Fees, Spreads & Commissions
Both brokers advertise a commission-free trading model, which simplifies cost comparisons down to spreads alone. Deriv starts spreads from 0.5 pips, while Phillip Nova begins slightly wider at 0.6 pips.
Neither broker charges deposit or withdrawal fees, which is a welcome consistency for traders moving funds in and out of their accounts regularly. This removes a common hidden-cost concern seen at many other retail brokers.
Over the long run, even a 0.1 pip difference can compound meaningfully for high-frequency or high-volume traders. Deriv's tighter spread structure gives it a measurable edge for active forex and CFD traders focused on minimizing transaction costs.
Minimum Deposit & Accessibility
Phillip Nova has the clear advantage here with a $0 minimum deposit requirement, making it exceptionally accessible for beginners or traders who want to test the platform before committing meaningful capital.
Deriv requires a modest $5 minimum deposit — still very low by industry standards, but not quite as frictionless as Phillip Nova's zero-barrier entry point.
For absolute beginners or students dipping their toes into trading for the first time, Phillip Nova's accessibility is a genuine strength worth acknowledging despite Deriv's overall lead.
Leverage & Trading Conditions
Leverage is where the two brokers diverge most dramatically. Deriv offers leverage up to 1:1000, appealing to experienced traders who want maximum capital efficiency on smaller account balances.
Phillip Nova caps leverage at a much more conservative 1:20, in line with tighter risk parameters often associated with its regulatory environment and institutional-style client base.
Higher leverage isn't automatically better — it increases both potential gains and potential losses. Novice traders may actually benefit from Phillip Nova's more conservative cap, while experienced traders will likely prefer Deriv's flexibility.
Platforms & Market Access
Deriv supports MT5 alongside its own proprietary web and mobile platforms, giving traders access to one of the industry's most widely used and feature-rich third-party platforms alongside native tools.
Phillip Nova relies on its proprietary web and mobile platforms plus POEMS, its dedicated in-house trading suite. This gives Phillip Nova a more closed ecosystem compared to Deriv's hybrid approach.
Both brokers cover a similar spread of markets — forex, CFDs, indices, commodities, and crypto — so market breadth is not a major differentiator. Platform preference will likely come down to whether a trader values MT5 compatibility or is comfortable within a proprietary-only environment.
Our Verdict
Taking all factors together, Deriv earns the stronger overall rating at 3.8/5 compared to Phillip Nova's 3.4/5. Deriv's advantages in regulation, spreads, and leverage flexibility make it the better fit for the majority of traders across experience levels.
Phillip Nova still holds real appeal for cost-conscious beginners thanks to its $0 minimum deposit and more conservative leverage cap, which can help newer traders manage risk more naturally.
Ultimately, the right choice depends on your priorities: choose Deriv for stronger regulation and tighter costs, or Phillip Nova if you want the lowest possible entry barrier and simpler risk exposure.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
Deriv wins overall
Deriv edges out Phillip Nova overall based on our expert rating score.
D
Highest Rated
Deriv
3.8 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.8/5).
DerivBetter for beginners
Stronger onboarding and educational resources.
Phillip NovaLower trading costs
More competitive spreads and baseline commissions.
DerivStronger regulation
Higher trust based on tier-1 regulatory oversight.
Deriv
Frequently asked questions
Yes, according to our independent rating system Deriv outperforms Phillip Nova overall, scoring 3.8/5 versus 3.4/5. Deriv's advantage comes primarily from stronger regulatory coverage, tighter spreads, and higher leverage flexibility. That said, Phillip Nova remains a strong option for beginners prioritizing a zero-deposit entry point, so the better choice ultimately depends on your individual trading needs and risk tolerance.
Deriv offers lower trading costs on paper, with spreads starting from 0.5 pips compared to Phillip Nova's 0.6 pips. Neither broker charges commissions, deposit fees, or withdrawal fees, so the spread difference is the main cost variable to weigh. For high-frequency traders, this 0.1 pip gap can add up meaningfully over time.
Deriv requires a minimum deposit of just $5, while Phillip Nova requires no minimum deposit at all. Both figures are extremely low compared to industry averages, making either broker accessible to traders with limited starting capital. Phillip Nova's $0 threshold gives it a slight edge for absolute beginners testing the waters.
Deriv holds licences from two tier-1 regulators — the FCA and MAS — while Phillip Nova is regulated solely by MAS. Having two separate regulatory bodies generally provides stronger client fund protections and more oversight redundancy, which is why Deriv scores higher in our regulation category.
Deriv offers leverage up to 1:1000, appealing to experienced traders who want greater capital efficiency. Phillip Nova caps leverage at a much more conservative 1:20, which can help newer traders manage risk exposure more naturally but limits flexibility for advanced strategies.
Deriv supports the popular MT5 platform alongside its own proprietary web and mobile apps, giving traders a familiar third-party option plus native tools. Phillip Nova relies exclusively on its proprietary web and mobile platforms along with its dedicated POEMS trading suite, offering a more closed but specialized ecosystem.
Largely yes — both brokers provide access to forex, CFDs, crypto, indices, and commodities, so market breadth is fairly comparable between the two. The main differences lie in trading conditions like spreads, leverage, and platform choice rather than the range of asset classes offered.
No, both Deriv and Phillip Nova charge zero deposit and withdrawal fees, making it easy to move funds in and out of your trading account without incurring extra costs. This is a consistent positive across both platforms and removes a common hidden expense seen at other brokers.
Yes, there is nothing stopping you from holding accounts at both brokers simultaneously. Many traders diversify across multiple platforms to take advantage of different leverage limits, spreads, or platform tools depending on their specific strategy or market focus.
Phillip Nova is generally better suited for complete beginners thanks to its $0 minimum deposit and more conservative 1:20 leverage cap, both of which reduce financial barriers and downside risk for newcomers. However, Deriv's low $5 minimum deposit and stronger regulatory backing still make it a very approachable option even for less experienced traders.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.