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DeltaFX
Rating:
Binary Option Programs Award
Min. Deposit
$10
Min. Investment
0.01 lot
Regulated Broker
No

DeltaFX Broker Review

  1. DeltaFX

    DeltaFX is an unlicensed, offshore forex and CFD broker that is a member of The Financial Commission. The company offers trading in major markets, includes a free demo account and an incredibly low starting deposit.

    Should South African investors really trust this DeltaFX though? When it comes to investing any money with a broker, a first look is never enough.

    Read our full review and honest verdict of whether this broker is really worth your time or just another scam in the industry.

    The 3 Account Types

    DeltaFX has three different account types available for South African investors to choose from, as well as a free demo account for beginners to practice before investing any real money.

    The real accounts available are the Standard Account, the Nano Account and, as DeltaFX proudly claims, the “professional trader’s dream”, the VIP Account. It is interesting to note here that DeltaFX is one of the few brokers to offer real trading with such a low minimum deposit (only $10 with the Nano Account).

    Details of each account are outlined below.

    Standard Account –> $100 Minimum Deposit

    • Up to 1:400 leverage
    • Spreads from 0.7 pips
    • Minimum trade volume: 0.01 lot
    • No commission
    • Cryptocurrency trading
    • Swap free

    Nano Account –> $10 Minimum Deposit

    • Up to 1:1000 leverage
    • Spreads from 0.7 pips
    • Minimum trade volume: 0.01 lot
    • No commission
    • Swap free

    VIP Account –> $10,000 Minimum Deposit

    • Up to 1:100 leverage
    • Spreads from 0 pip
    • Minimum trade volume: 0.1 lot
    • Commission

    Demo Account

    DeltaFX also offers South African users the ability to open a free demo account, which is always advisable for complete beginners so they can practice trading entirely risk-free. Even more experienced traders like to use demo accounts, in order to test the broker’s platform before investing any real money.

    DeltaFX gives South African users $100,000 of virtual funds for each demo account created for a great deal of practice and many trades.

    Trading Platform & Assets

    As mentioned above, DeltaFX offers South African investors the ability to trade CFDs from all major markets including over 80 forex pairs, cryptocurrencies, stocks, commodities and indices. The trading conditions are decent with floating and fixed spreads and 24/5 trading.

    There seems to be an inconsistency of information across their website though, as in certain sections they claim to have leverage up to 1:500, whereas in the accounts section the leverage information is different. They also lack consistency when it comes to other information as well, like trading times and assets.

    Warning: Lack of transparency and information inconsistency are big red flags when it comes to companies. The information should be clear and consistent throughout their entire site. If not, this is a sign of a fraudulent company.

    DeltaFX offers trading through the infamous MetaTrader 4 (MT4) platform. This needs to be downloaded onto your preferred device (PC, laptop, mobile device or iPad).

    Mobile trading is commonly preferred for it allows South African investors to trade on-the-go. This means you can quickly place trades from wherever you may, even while waiting for a bus. This has proven to be increasingly convenient, as nowadays everyone is always rushing around for different errands and a mobile trading app can help you easily keep track of your open trades.

    Customer Support

    The DeltaFX customer support team is available via email, phone or the contact form on their website. They also provide three different addresses in Switzerland, the UK and Turkey to reach out to them directly.

    Company Info & Payment Methods

    DeltaFX is owned and operated by the company DeltaFX Ltd, located in St. Vincent & the Grenadines as an International Business Company under the registration number 24975 IBC 2018. DeltaFX Ltd is a member of The Financial Commission, but is not regulated or licensed under any proper regulatory agency.

    Surprisingly, DeltaFX has no information on their website concerning payment methods or withdrawals. It is safe to assume they accept credit card and bank wire transfers though.

    This lack of information is strange though, especially when coupled with the lack of transparency mentioned earlier.

    Verdict: Is DeltaFX a Scam?

    Upon careful review of this broker, our team has concluded that DeltaFX is a scam and South Africans should stay away from this company at all costs.

    The broker lacks transparency, does not provide consistent, clear information throughout their website and is not regulated or licensed under any regulatory agency. These are all huge red flags and prove DeltaFX is not to be trusted.

    Conclusion: Instead of wasting your time with fraudulent companies, trade directly with award-winning, licensed brokers like IQ Option!

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