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DeltinFX Review - is it scam or safe?

DeltinFX Review - is deltinfx.com scam or good forex broker?

RATING: 1 / 6 REVIEWS ForexBrokerz DeltinFX
DeltinFX is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit  Min. trade size Max. leverage Spread
Standard  $200 0.01 1:400  3.4 pips
Islamic  $200 0.01 1:400  N/A
Premium  $2 500 0.01 1:400  N/A
VIP  $5 000 0.01 1:400  N/A

 

Offshore forex broker DeltinFX offers the above account types and trading on the industry’s standard MetaTrader 4 platform with leverage as high as 1:400. Although this may sound attractive to some of you, this broker is not recommended. Make sure you read this review prior to investing with DeltinFX.

 

 

DeltinFX Advantages

 

Trading on the MT4

Like the vast majority of forex brokers, DeltinFX offers MetaTrader 4 (MT4) as its trading platform. The MT4 hardly needs an introduction. It is used by several generations of traders and has proved its reliability over the years. Besides, the charting of the MT4 is still considered one of the best, and it is very popylar for its Expert Advisors – automated trading bots, which are easily customizable.

 

 

>> Check out the best MT4 brokers <<

 

 

Many instruments & high leverage available

Clients of DeltinFX are extended leverage up to 1:400. Leverage levels that high will probably suit even the most aggressive traders, however, don’t forget that there is a price you have to pay – increased risk of losses.

 

DeltinFX offers trading in more than 50 currency pairs, as well as CFDs on indices, commodities, precious metals and stocks. Such product portfolio is quite rich, although some traders might miss cryptocurrencies like Bitcoin, Ethereum or Ripple (in the form of CFDs).

 

 

DeltinFX Disadvantages

 

No financial regulation

DeltinFX is allegedly owned and operated by DeltinFX Ltd. It is not clear where is the company registered exactly – the broker’s website features an address in Saint Vincent and the Grenadines, while the Terms and Conditions mention Vanuatu Anti-Money Laundering & Counter-Terrorism Financing Law. Whichever the truth is, DeltinFX does not mention anything about license or financial regulation, and both Vanuatu and SVG are offshore zones where forex brokers are either not regulated, or only formally registered.

 

This means that DeltinFX and the company behind it are not authorized to offer financial services on regulated markets like the EU, USA, Japan or Australia, for example. It also means that clients of this broker have no assurance for the security of their funds, which is a major red flag.

 

High spreads

DeltinFX has not mentioned any reference spreads on its website, which is yet another worrisome sign, as it shows lack of transparency regarding the broker’s pricing.

 

Fortunately, the broker offers free demo accounts, so we were able to test DeltinFX’s MT4 and saw the benchmark EUR/USD spread floating around 3.5 pips.

 

Click on the image to view larger.

 

Such spread is around three times higher than the average in the industry. Most brokers offers spread within the range of 1.0 – 1.5 pips for this pair. See for yourselves:



>> Compare the spreads of top forex brokers <<

 

 

Conclusion

 

DeltinFX offers nothing special in the world of forex: trading in currency pairs and wide range of CFDs on the MT4, high spreads, and a lot of uncertainty regarding the company behind it, which is not regulated. 

 

As usual, our best advice for forex traders is to invest solely in reliable brokers, duly licensed by reputable financial authorities, such as ASIC in Australia or the Financial Conduct Authority (FCA) in the UK.

 

For example, the FCA requires frequent reporting on activities and enforces a lot of rules. When looking at it from a security of funds perspective, the most important ones are the following: segregation of client accounts, and the coverage of the FSCS compensation scheme. All FCA-regulated brokers are required to participate in the Financial Services Compensation Scheme (FSCS) - a system, which guarantees clients’ trading capital against broker bankruptcy. If you trade with an FCA-regulated broker which happens to become insolvent, you will be able to claim 90% of your account value, up to £50,000 from the FSCS.

 

 

>> A list of brokers licensed by the UK’s FCA <<

 

 

To sum up our review of DelfinFX in a few words:

 

Pros Cons
Supports the MT4 Unclear corporate information
Many financial instruments No financial regulation
High leverage available Trading costs not disclosed
  High demo spreads

 

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Traders` reviews for DeltinFX

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Scammers

Deltinfx company scammers, my 15000₹ scam.

Chockalingam 01/16/2020

No one support for my problem

No one support for my problem. Thay give some deals, but all deals closed with lose 2000$ to now -276

Mahender 12/30/2019

They compelled for joining

Deltinfx representative Mr Benjamin compelled me to join there company for trading.
I was totally new that time.
I didn't have any knowledge of forex trading.
I have invested 26000 RS Indian currency.
Since 2 months have been not get a single rupee.

Sameer Aoley 12/08/2019

deltinfx fraud

deltinfx tradeing company https://www.deltinfx.com its fraud company and no deposit your amount, person cheating, lots of people pay the amount. people be careful

karthigayen 10/18/2019

DeltinFX is Fraud trade company

DeltinFX is Fraud trade company

please don't invest money even 200 US$ also

Since i Invested Standard Plat form Initially they advice profits for 200$ after that i invested 800 US$ within week they fraud with my investment all amount sucked by the trader by placing wrong deals...

this firm is NOT Registered under FCA,

Totally Fraud Operate from unknown Source

Simply to say Don't Invest in this Company

your Money will Suck very fast

simply they ask investor to re invest otherwise your money will be lost

for re invest also equal amount of Loss

Finally they drag on the Roads if you invest in the Deltin FX.

Thanks

Ranganath Chitragar 07/04/2019
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