DeltaMarket Review: Uncovering the Hidden Risks Of This Broker
When we think about a scam brokerage, DeltaMarket is who we have in mind. Multiple financial regulators warned the public against trading with them and to top it off, the broker ceased to exist without any prior communication to its traders, leaving them without their investments.
Even while operational, the broker didn’t offer any sense of security to its traders, and considering that they are from the Marshall Islands, where registration is easy to obtain, we can’t say we expected more. Read our DeltaMarket review and decide if the broker was worth it.
Who Is DeltaMarket? All About deltamarket.net
DeltaMarket is surrounded by red flags and indications that you should avoid them. The broker operated without a license, so several regulatory bodies warned against trading with this offshore brokerage. There is little to no information today about DeltaMarket and its services, so finding a reliable source can be challenging.
Without any prior communication to its traders, the brokerage closed down. They were officially owned and operated by a company called BI-GLOBAL World Ltd, which is a company based at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960.
|DeltaMarket||Reliable Broker Must Have|
|Legal name||DeltaMarket, BI-GLOBAL World Ltd||Transparently displayed in the disclaimer or legal documents|
|Regulation||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in||Marshall Islands||Your country or the country whose license applies in your legal jurisdiction|
|Established||N/A||The older the domain – the higher the possibility the company is trustworthy|
|Website||www.deltamarket.net||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
|Contacts||N/A||Phone, email, social media, web form|
|If a withdrawal is possible||No||Yes|
|Fees||N/A||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||None||Compensation fund|
While operational, DeltaMarket was not regulated by any financial authority, therefore, trading with them posed a huge risk. To make things even worse, warnings from reputable regulators indicate the DeltaMarket scam, and today the broker disappeared, leaving many traders without their funds.
DeltaMarket was aiming at UK traders, so the FCA warned investors not to trade with this offshore brokerage. DeltaMarket.net also found themselves on the FSMA blacklist. IOSCO supported FSMA, publishing the blacklisted brokers on its website. Last but not least, the CNMV also supported FSMA by publishing the list of suspicious websites:
DeltaMarket Broker Profile
Just like GSL Markets, DeltaMarket is also a CFDs brokerage company. The MT5 platform is not available, instead, the popular MT4 is, allowing traders to research the market and stay up-to-date with the innovative technology. Unfortunately, the MT4 platform was the only benefit of the broker.
Just getting one trader to deposit the minimum of $50,000 for the Platinum account is enough for them to scam you. Some brokers are known for scamming for less, so make sure to do in-depth research if a broker requests a large sum.
|Trading Platform||MT4, Web Trader|
|Account Types||Bronze, Silver, Gold, Platinum|
|Financial Instruments On Offer||
|Education or Extra tools||None|
Is DeltaMarket Safe To Trade With?
Luckily for you, trading with DeltaMarket is impossible due to the company being shut down. However, even if they were operational, trading with them would still pose a huge threat, mostly due to the lack of regulation and transparency, multiple financial warnings, withdrawal issues, and scam reports.
Instead of wasting your time on searching for brokers that are like DeltaMarket, dedicate your time to research reliable options. If you are unsure where to start, reach out and we will help out!
Traders Share Their Experiences
If you thought it couldn’t get any worse, the broker’s Trustpilot reviews are proof that it can. With a total of 19 reviews, the broker has a 1.9 score, and as you suspected, all reviews are negative. From withdrawal issues to their disappearance, you name it, DeltaMarket has it all.
Many traders complain about losing access to their accounts, withdrawal issues, and the fact that the broker disappeared without a trace. One trader even had over 140,000 GBP in his account and he lost the funds in a matter of seconds.
Luckily for traders, DeltaMarket is not operating anymore, however, the risk of them reappearing under a different name still exists, so traders are warned to proceed with caution. Stay away from DeltaMarket and LeaderFinancing who are only after your investments.
How Is the Scam Carried Out?
According to many traders online, pushy brokers from DeltaMarket called their traders, promising fake profits, and right before they ceased operations. By making traders believe if they deposit large amounts they will gain even more, they attracted traders from all around the globe.
Nations that the broker was aiming at were mostly the United States, Canada, Japan, India, and Turkey. It’s crucial to note that operating from these nations requires regulations from local financial authorities.
Deposits and Withdrawal Methods
Because the broker is not operational anymore, making a deposit is impossible. However, the minimum requirement was $250 for the most basic account type, while depositing $50,000 would upgrade traders to the Platinum account.
Withdrawals are also not possible anymore, however, we are almost certain that withdrawing funds with DeltaMarket even while they operated was a hassle. Many traders complained about losing their investments, especially since the broker disappeared with thousands, if not millions.
Can I Make Money While Trading Online?
Making money while trading online is possible, however, not guaranteed. Months of preparations is necessary to begin trading, especially in the current market. If you don’t know how or where to start, reach out to us.
Take advantage of various educational material some brokers provide and make sure you stay up-to-date to the market. The forex market is known for changing quickly, so it’s not the time to be indecisive. We can take most of the hassle off your back, so make sure to reach out, we are there for you.
Last but not least, research and due diligence is crucial. Some brokers may seem appealing and secure, however, without research, there is no way of knowing it for sure. If you need a reliable broker by your side right now, contact us for assistance.
What Is DeltaMarket?
DeltaMarket was a brokerage company owned and operated by BI-GLOBAL World Ltd, which is a company based at Ajeltake Island, Majuro, Republic of the Marshall Islands.
Is DeltaMarket Regulated?
No, DeltaMarket was not regulated by any financial authority from the moment of its establishment until it ceased operations.
What Are The Trading Platforms Of DeltaMarket?
DeltaMarket is using the popular Meta Trader 4 platform in addition to proprietary web trader.