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DeltaFx Review – Don’t This Broker Scam Your Money
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DeltaFX is one of the long-lasting brokers on the market, present since 2009. Yet, it doesn’t necessarily mean it’s a good or a legit company.
So far, you must have known that one of the most important things about a brokerage is its trading regulation. Without it, your funds are not protected, and you have no guarantees of being reimbursed if any problem occurs.
DeltaFX broker is a brand of DeltaFX Ltd based in Geneva, Switzerland. However, it was allegedly regulated in Saint Vincent and the Grenadines.
For sure, you’re asking how this is possible, and is DeltaFX regulated at all? Well, this DeltaFX broker review is going to shine a light onto that question.
|Headquarters||St. Vincent and Grenadines|
|Broker Type||Forex, crypto, indices|
Is DeltaFx Broker a Scam or Legit?
Instead of opting for FINMA regulation, Tier 1 license that provides clients with high security, DeltaFX regulation comes from the FSA. Even that would be fine if FSA weren’t only a register of financial companies and not an actual regulator.
SVG doesn’t have a regulatory body since FSA strictly directs brokers to opt for regulation in the country of service. Therefore, DeltaFX is not regulated and has no permission to provide financial services whatsoever. Because of this, it’s good to remember that looks can be deceiving, which is the case with the DeltaFX scam broker. And it’s not new that scam brokers like to lie about them being regulated and licensed so you should be on the lookout all the time.
What Options Do Traders Have for Online Platforms?
Currently, the only available DeltaFX trading platform is MT4, although the company announced introducing MT5 soon. Since MT4 is traders’ favorite choice, we are pleased to see that DeltaFX forex brokerage put in some effort and provided the best for the clients.
Known for fast trade execution, various trading charts and indicators, and some professional trading tools, you can never go wrong using MetaTrader. But don’t forget that they are nothing more than just another investment scam trying to strip you of your hard-earned money.
DeltaFx Accounts Types
There are 3 different account types DeltaFX offers:
The main difference is in funds, leverage, and spread. DeltaFX’s minimum deposit is $1 for the Nano account, while to be a VIP client, you need to deposit at least $20,000. Besides these basic account types, there’s an Islamic swap-free version of each of them.
Trading Instruments at DeltaFx
DeltaFX broker offers trading with:
- 307 currency pairs
- 4 metals and 2 energies
- 8 cryptocurrencies
- 22 global indices
- US, UK, and EU shares
As you can tell, the main focus is on the Forex market and shares, while other assets are barely present. All the trades are executed on the MT4 with the highest leverage of 1:1000, which is extremely risky for your funds, especially if you’re new to the market.
DeltaFx Deposit and Withdrawal
It feels as if the further we go in the review, the less we get of DeltaFx. Now it’s the turn for the payment information to be completely ambiguous, and quite useless.
The only solid info we have is that of a $100 minimum deposit requirement, and even this is not 100% certain! We get our payment methods from the logo just above the footer which states the following as the funding methods:
- Perfect Money
- Credit Cards
Withdrawals are processed within 24 hours according to the FAQs. Personally, we do not trust the website with any of the payment information. One more reason not to invest in DeltaFx, if you ask us.
How Do I Recover My Money If DeltaFx Scams Me?
The most common action to take is to file for a chargeback, but this happens only if the user has invested with a credit or debit card. That’s why you don’t get many investment frauds taking card payments nowadays. But the good news is that, if money was invested via a card, the chargeback period for MasterCard and VISA is 540 days.
Wire transfer deposits are harder to get back, and the only thing we recommend is contacting the bank to sort things out if possible. Oh, and make sure to change your bank account username and password as soon as possible!
Crypto transactions are unfortunately much harder to reverse and that’s why scam companies take advantage of this policy. We suggest you never trust unregulated brokers with any type of payment, especially crypto.
DeltaFx is an experienced scammer. If you fell for the story you were sold, don’t feel ashamed about reporting it. We encourage you to reach out to us as we can help you in reporting your scammer and get your money back.
We conducted this DeltaFx review so you could see what kind of scam they are trying to pull off on a regular basis. Even though they claim to be a Switzerland-based broker, we could not find any information to support this as the address they provided is likely false as well.
We were also not surprised at the fact that the broker lacks other basic information on their lousy website. You should look at it this way, the more they put online, the easier they are to track and later suffer the consequences of their actions.
There could also be found many complaints about this broker in particular and the services they provide. Be cautious and try to avoid those that have this many negative reviews online.
This is why you should always choose a reputable legit broker as they stand behind the service they offer.
FAQs About DeltaFx Broker
What Is The Minimum Deposit For DeltaFx?
The minimum deposit for DeltaFx’s traders is set at $100, which is a lot more than what regulated ones are asking for.
How Long Do DeltaFx Withdrawals Take?
Withdrawals from DeltaFx can take a really long time as they have many shady fees and tactics all in order to make withdrawing money impossible.
Is DeltaFx a Trustworthy Broker?
No, DeltaFx is an unregulated scam broker operating with the sole purpose of scamming their clients and stealing their money.