DeltaFx Review – Facts About DeltaFx.Net Broker
DeltaFX.net is a little-known, suspicious brokerage with opposing company information and essential trading parameters. The owning company should be located in SVG. But there are two other addresses on the website: one in the British Virgin Islands and the other in Turkey. Our research shows that none of the jurisdictional regulators in those countries has any records of DeltaFX.net.
There are several similar domains to DeltaFX.net, and some of them are blacklisted as frauds, like delta-fx.org. It is uncertain if these two are related or have the same team of scammers behind them.
Either way, DeltaFX.net is already out of function. Hopefully, you haven’t put a single penny in that fraudulent machine, as it has probably gone to waste. Our DeltaFx review digs for the truth behind this unscrupulous scheme, so stay tuned.
|Address||St. Vincent & the Grenadines|
+90 552 308 65 56
Compliance and Fund Safety at DeltaFx
You must already know the answer to the question of funds security when it’s about an unlicensed brokerage brand. How are we so certain they do not own any trading certificates or permits? From thoroughly checking their trading conditions, legal docs, jurisdictional databases and all the other factors involved.
Since we had to start from the official company address, we immediately knew SVG had no regulator for brokers. So that’s a flop. Then we went checking the public registers of other regulators. Unfortunately for DeltaFx, the British Virgin Islands regulator – Financial Services Commission has no intel on this brokerage. It’s the same with the Turkish regulator for brokers – CMB (Capital Markets Board).
However, we couldn’t just stop there. Right after that, we went through the databases of BaFin, FCA, AMF, CySEC, IIROC, ASIC and NFA. The only thing we found was the several warnings for dangerously similar-sounding domains.
DeltaFx, before being silenced, used to target EU traders. To even apply for a EU brokerage license from any of the major regulators, a firm has to invest at least 730 000 EUR. The security standards in the EEA are quite high. They unmistakably demand the brokers to provide segregation of clients’ deposits, leverage cap of 1:30, negative balance protection and compensation fund.
Additionally, the independent EU regulator – ESMA has assembled a special regulatory framework (MiFID). It enforces even more strict customer privacy standards and transparency of transactions.
DeltaFx allows leverage of up to 1:1000 and offers bonuses at that. Just for reference, these are banned in the UK and EU. So you can tell by yourself now that DeltaFx is in no way eligible for a trading license.
Available Trading Software at DeltaFx
The most surprising fact about DeltaFx is probably the offer of MetaTrader 4 as the standard trading platform. Thanks to its exceptional speed, flexibility and a range of advanced features, this software is still considered as one of the best ever. Although it’s been over 15 years since its initial launch, it’s still one of the leading distributions in the Forex community.
DeltaFx, however, only offers the possibility of using a Demo version of MT4. They don’t actually provide you with the credentials for logging in to their dedicated trading server.It appears that the fraudster only wants to impress their victim and not really allow them to trade productively. So our surprise was short-lived.
Account Types Available at DeltaFx
DeltaFx actually had an interesting offer of account types. Account and the minimum deposit expectation differ depending on the lot size.
That’s how DeltaFx demands the following deposits for the respective accounts:
- Standard account – $100
- Nano account – $1
- VIP account – $20 000
All the account types are supposed to have instant order execution, margin call/stop out at 100/20, Islamic account variant, personal account manager, and leverage up to 1:1000.
Methods of Deposit and Withdrawal
Funding channels and security of funds are pretty much what first interests most traders. DeltaFx doesn’t present very rich info on this subject. They’ve made sure to advertise several possible methods like wire transfers, credit cards, and several e-wallets. And that’s it!
No legal documents (that are already suspiciously scarce) bother to explain the payment processing and possible fees. When there’s such little data on the crucial aspects of investing, you know a broker has a lot to hide!
How the Fraud Has Carried Out
Being an illicit brokerage, DeltaFx has to make an effort to attract new victims. They do so by offering unrealistic trading conditions like very tight spreads and high leverage. However, one particular element you should be wary of is the bonuses.
Although DeltaFx makes a mention of the possible bonuses and rewards they do not dare to explicitly state any of them. The lack of legal docs explaining the specific aspects and conditions has also concerned us greatly. The broker purposely avoids stating the particularities of these deals so they could alter the conditions and introduce fees and charges.
We’d like you to always be aware of the strings coming with the bonuses, like trading volume requirements. DeltaFx will not allow any withdrawals until you’ve completed a certain number of successful trades!
Despite very little being known about this already dead domain, we’ve managed to dig out some disturbing facts about DeltaFx and present them in this review. From unrealistic trading conditions to lacking a license or any of the legal texts, DeltaFx is a scam to the bone.
The website doesn’t offer the proper funds protection and secure investing. Neither do they provide a diligent customer support service to tend to their investors’ needs. There’s literally not a single advantage of investing here, so think twice if DeltaFx seems like a good offer!
FAQs About DeltaFx Broker
Is DeltaFx a Regulated Broker?
No, the company owns to regulations and licenses and they have a status of an offshore scam due to the SVG location.
Is My Money Safe at DeltaFx?
DeltaFx does not provide the highest security standards that are mandatory for all licensed brokerages.
What Is The Minimum Deposit at DeltaFx?
The minimum deposit for the Nano account is just $1. Standard account requires a $100 deposit and the VIP account a huge $20 000 investment.