DeltaStream Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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When trading on the DeltaStream’s mt5 trading platform, I cannot close my open positions myself, and I don’t know what happened. No one could give me a reason. Talking to their support staff is like talking to a wall.
Summary: The Deltastream review reveals significant concerns regarding this forex broker, primarily due to its unregulated status and numerous complaints about withdrawal issues. Users have expressed frustration over high minimum deposits and unfavorable trading conditions, making it crucial for potential traders to exercise caution.
Note: It is essential to recognize that Deltastream operates under various entities across different regions, which may contribute to the complexity and risk associated with trading on this platform. This review aims to provide a fair and accurate analysis based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on user feedback, expert opinions, and factual data regarding the broker's services and conditions.
Deltastream, operated by Ineffable Group Ltd, is an offshore forex broker established in 2021, headquartered in Dominica. This broker offers trading services primarily through a web-based platform, claiming to provide access to various financial instruments, including forex, indices, stocks, and commodities. However, Deltastream lacks regulation from any recognized financial authority, raising red flags about its legitimacy.
The platform offers trading via MetaTrader 5, a widely used trading software known for its advanced features. While Deltastream claims to support a range of trading assets, the absence of regulatory oversight and numerous complaints about its operations cast doubt on its reliability.
Deltastream operates without any regulatory oversight, which is a significant concern for potential traders. As noted in various reviews, the absence of regulation means that there is no authority to hold the broker accountable for its practices. The Commonwealth of Dominica, where Deltastream is based, is known for being a haven for unregulated brokers, which further complicates the trustworthiness of this platform. According to ForexBrokersInfo, "the lack of licensing is a significant red flag and could indicate potential fraudulent activity."
Deltastream requires a minimum deposit of $250 to open an account, which is notably higher than many other brokers that offer accounts with deposits as low as $10. The broker accepts various payment methods, including credit cards and Bitcoin, but the lack of popular e-wallet options like PayPal or Skrill is a downside. Users have reported significant difficulties in withdrawing funds, with many complaints highlighting delays and unresponsive customer service. As stated in a review on WikiFX, "there have been numerous complaints about difficulties in withdrawing funds from Deltastream."
Deltastream's trading conditions are not competitive, featuring high spreads and limited leverage options. The EUR/USD spread can reach as high as 8 pips, which is considered expensive compared to industry standards. Additionally, the maximum leverage offered is capped at 1:200, which, while potentially appealing to some traders, poses a risk, especially for inexperienced individuals. This lack of competitive pricing can significantly impact trading profitability, as highlighted in several user reviews.
Deltastream primarily utilizes the MetaTrader 5 platform, which is known for its user-friendly interface and robust trading features. However, the web-based platform may not be sufficient for all traders, particularly those looking for advanced functionalities or automated trading options. The absence of a demo account also prevents potential users from testing the platform before committing their funds, which is a common practice among reputable brokers.
Customer service is another area where Deltastream falls short. Users have reported unresponsive support, with limited options for reaching out to the broker. The lack of a dedicated telephone line further complicates communication, as support is primarily conducted via email. This has led to frustration among users who need timely assistance with their trading activities.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Deltastream's account conditions are concerning, with a high minimum deposit of $250 and unfavorable trading spreads. The lack of regulatory oversight raises questions about the safety of funds.
While the platform offers MetaTrader 5, the absence of a demo account and limited educational resources hinder traders' ability to familiarize themselves with the trading environment.
Customer service is inadequate, with numerous complaints about unresponsiveness and limited communication channels. This lack of support can be detrimental to traders needing assistance.
The trading experience on Deltastream is marred by high spreads and limited leverage, making it less appealing for traders seeking competitive conditions.
Deltastream's unregulated status and numerous complaints about withdrawal issues severely impact its trustworthiness as a broker. Users should exercise extreme caution when considering this platform.
User experiences are predominantly negative, with many traders expressing frustration over withdrawal difficulties and poor customer support. The overall sentiment indicates that potential users should look elsewhere for more reliable trading options.
In conclusion, while Deltastream may present itself as a viable forex trading platform, the overwhelming evidence suggests that it poses significant risks to traders. The lack of regulation, combined with numerous user complaints about withdrawal issues and poor customer service, makes this broker a questionable choice for anyone looking to invest in the forex market. Always conduct thorough research and consider regulated brokers to ensure the safety of your funds.
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