Red Flags
3
Deriv.com
An investor reported a loss of $10,000 due to unauthorized automated trades on their Deriv account, despite following all recommended security measures.
Quick summary on Deriv.com
Regulatory Concerns: Regulatory bodies, including the Labuan Financial Services Authority (LFSA) and the Financial Services Commission (FSC), have labeled Deriv as a “Suspicious Clone,” indicating potential regulatory irregularities or risks about its legitimacy.
Security Issues: An investor reported a loss of $10,000 due to unauthorized automated trades on their Deriv account, despite following all recommended security measures, including changing passwords and enabling two-factor authentication.
Customer Support Challenges: Users have reported difficulties in reaching Deriv’s customer support, with contact numbers often going unanswered or leading to automated responses, providing little assistance.
Allegations of Price Manipulation and False Advertising: Accusations have been made regarding Deriv’s advertising of random number generators for pricing, which some users believe is not the case, leading to questions about the platform’s transparency.
Limited Educational Resources: The platform offers limited educational resources, hindering traders’ ability to learn and improve their skills, potentially leading to poor trading decisions.
Intel Reports
by: Layla Benson
They claim fair pricing, but users suspect price manipulation. Feels more like a casino than a trading platform.
by: Matthew Kerr
They claim fair pricing, but users suspect price manipulation. Feels more like a casino than a trading platform.
by: Scarlett Dixon
A ‘suspicious clone’ according to regulators......do you really want to trust your money here?