Deriv Forex Broker

Aspect Information Company Name Deriv Registered Country/Area Malta Founded Year 2020 Regulation Not regulated Market Instruments N/A Account Types N/A Customer Support +61 480089744；support@derivtradinglive.com Deposit & Withdrawal N/A Overview of Deriv Deriv, established in 2020 and headquartered in Malta, presents a risky profile. The platform's regulatory status is ambiguous, with suspicions surrounding its legitimacy, as it has been labeled a Suspicious Clone by regulatory authorities. Moreover, the limited availability of educational resources and customer support further compounds users' frustrations, hindering their trading experience. Deriv's relatively recent establishment adds to the skepticism surrounding its operations, fostering uncertainty among potential traders about its reliability and trustworthiness. Regulatory Status The regulatory status of Deriv as labeled a Suspicious Clone by both the Labuan Financial Services Authority (LFSA) and the Financial Services Commission (FSC) certainly carries weight in influencing traders on the platform. Such a designation indicates potential regulatory irregularities or risks about legitimacy. For traders, this status likely raises red flags and prompts caution in engaging with the platform. Regulatory oversight serves as a crucial trust factor in the financial industry, assuring traders of adherence to standards and protections. In the case of Deriv, the suspicious clone designation may deter traders who prioritize regulatory compliance and seek platforms with clear and trustworthy oversight. This could lead traders to explore alternative platforms with more transparent and credible regulatory statuses, ultimately impacting Deriv's user base and market reputation. Pros and Cons Pros Cons N/A Official website inaccessible Labeled a Suspicious Clone Limited educational resources Limited customer support Pros: N/A Cons: Official website inaccessible: This presents a significant hurdle for users seeking information, assistance, or access to the platform. An inaccessible website disrupts the user experience, hindering potential traders from learning about the platform's features, accessing their accounts, or conducting necessary transactions. Labeled a Suspicious Clone: Being identified as a Suspicious Clone by regulatory authorities raises serious doubts about the platform's legitimacy and adherence to regulatory standards. This designation may deter traders from engaging with Deriv due to risks about security, trustworthiness, and potential regulatory consequences. Limited educational resources: Insufficient educational resources can hinder traders' ability to learn and improve their skills. A lack of comprehensive educational materials, tutorials, or guides may leave users feeling unprepared or uninformed, potentially leading to poor trading decisions and outcomes. Limited customer support: Inadequate customer support can frustrate users and undermine their confidence in the platform. Limited availability, slow response times, or unhelpful assistance can leave traders feeling abandoned and unsupported, exacerbating any issues they encounter while using the platform. Customer Support Deriv's customer support is woefully inadequate, leaving users frustrated and dissatisfied. Despite numerous attempts to reach them, their contact numbers, such as +61 480089744, often go unanswered or lead to automated responses, providing little assistance. Even when reaching out via email at support@derivtradinglive.com, users encounter delays and generic, unhelpful replies. The lack of timely and effective communication exacerbates issues, leaving customers feeling abandoned and unsupported. Deriv's failure to prioritize responsive and helpful customer service significantly undermines the user experience, fostering a sense of distrust and alienation among traders. Risk Warning Caution is advised with Deriv. With a low score and no valid regulation, there are significant risks involved. The claimed regulations from MalaysiaLFSA and The Virgin IslandsFSC are suspected to be clones, amplifying the risk. Moreover, the offshore regulation from The Virgin Islands FSC further complicates matters. Additionally, the absence of trading software raises risks about the legitimacy and functionality of the platform. Conclusion In conclusion, the platform's regulatory ambiguity and suspicion of being a clone raise significant red flags, casting doubt on its legitimacy and reliability. Additionally, the limited availability of educational resources and customer support exacerbates users' frustrations, hindering their ability to make informed trading decisions and navigate the platform effectively. These shortcomings, coupled with Deriv's relatively recent establishment, create a landscape fraught with uncertainty and skepticism, making it a less-than-ideal choice for traders seeking a secure and supportive trading environment. FAQs Question: Is Deriv regulated？ Answer: No, Deriv is not regulated. Question: Where is Deriv headquartered？ Answer: Deriv is headquartered in Malta, a country known for its regulatory oversight in the financial sector. What are Clone Brokers？ Clone brokers are increasingly prevalent, with deceptive entities masquerading under the guise of reputable firms to lure clients into believing they're dealing with regulated forex entities. They exploit the license numbers of legitimate brokers to deceive traders into opening accounts. Remaining vigilant is essential to evade these scams. These fraudulent firms often resort to aggressive tactics, such as high-pressure sales techniques, to coerce clients into account openings or additional fund deposits. Remember, if an offer seems overly favorable, it's likely a ruse.