DeltaMarket says to be reliable and trusted broker, as well as a well regarded world- class brand in the forex industry, offering scores of forex pairs - well over 50, and a number of CFDs on stocks, indices, commodities and metals, with a choice of four account types – Bronze, Silver, Gold and Platinum, leverage as high as 1:300 and a MetaTrader4 platform.
In fact DeltaMarket says to be an emerging global market leader in the financial trading, which truly sounds fantastic, was it not for a small but substantial problem - DeltaMarket is not licensed and authorized by any official financial regulator and that significantly lowers their credibility.
As a matter of fact, because of their UK contact number, one could have expected DeltaMarket to be regulated by the Financial Conduct Authority (FCA) in London. That unfortunately is not the case. If you still think it might be a good idea to deposit your cash with DeltaMarket, think again and read the following lines.
Is DeltaMarket legit?
No. DeltaMarket is not a legit broker, but a unregulated, offshore platform with credibility close to zero.
DeltaMarket is said to be owned by an offshore company – the Marshall Islands based BI- Global World Ltd. And although in their contact details we find a UK phone number, the broker does not seem to be regulated neither in the UK, nor anywhere else for that matter, and that simply means that their operations on strictly regulated markets like the UK and the EU are illegal.
More importantly, because unregulated brokers does not have to report to no one, and their offshore registrations make them more or less immune to any potential legal action, such brokers openly tend scam traders.
With regulated brokers things are quite different. Not only that all FCA or EU regulated brokers have to report all client transactions and to keep all the trading capital in a segregated from their own, protected from creditors, trust account, but also they have to maintain at least 730 000 EUR, with which to cover all outstanding payments to their clients, as well as to participate in special client compensation funds, basically insuring a significant amount of the trading capital in each account. With an FCA broker the insured amount is as high as 85 000 GBP – money that will be paid back to you in the unlikely case your brokers happens to be insolvent. So, when choosing a new broker make sure it is properly regulated and never trust an offshore broker like DeltaMarket.
Can I make money with DeltaMarket?
No. You can not make any money with a unregulated, offshore broker like DeltaMarket, because you will hardly be allowed to make any withdraws
Offshore brokers like DeltaMarket may offer you favorable trading conditions and higher leverage, but what they will never offer you is security of your funds and a guarantee for a hassle- free withdraw process.
On the contrary, exactly because brokers like DeltaMarket are not regulated and do not have to comply with any rules, they may “sneak” into their Terms and Conditions clauses that basically make withdraws virtually impossible. Such are the conditions governing the so called trading bonuses – a highly controversial practice, which is altogether banned on regulated markets like the EU, the UK and Australia.
As is the case with DeltaMarket all trading bonuses come with additional withdraw conditions – a minimum trade volume requirement, which unless met is said to prevent you from making any withdraws.
As unfair as such a condition might be – legit brokers will never hinder you from withdrawing your own funds, whenever you want, no matter what - with our broker here the reality is even more disturbing because of the fact that DeltaMarket maintains the right to change its bonus policy at any time.
This simply means that with a trading bonus you will never be able to reach the above mentioned minimum trade volume requirement and respectively be allowed to make a withdraw. That is so typical for offshore brokers. They may come with various tricks like that, because they are not supervised by any official financial institution and simply do not have to follow any ethical rules.
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