Is Deriv Legally FSCA Regulated in South Africa?

@chaka_muanzi - 8 months ago - Forex Brokers

Deriv seems to be a pretty popular broker here in Pretoria, but I want to know if they are legit and which country Deriv is from. Answers are welcome

@segun_33 - 8 months ago

Despite its popularity, Deriv is a high risk broker not regulated by the FSCA in South Africa and also not regulated by any major tier-1 market regulator such as ASIC Australia and FCA UK.

Deriv is actually a broker from Saint Vincent & the Grenadines (SVG) because that is where they are registered as an International Business Company and SVG is known for weak regulation.

Deriv actually has good platforms and customer support is great but they are not regulated by strict regulators which means if they decide to go rogue, there's not much stopping them.

@josiah_edem - 5 months ago

They are not FSCA licensed, and they are several FSCA brokers you can choose from except you just like deriv

@mr_casey - 4 months ago

Deriv is not regulated by the South African authorities. They are regulated by some less popular low-tier regulators which makes me uncomfortable to trade with them.

Malta FSA - Low tier deriv regulator

Labuan FSA - Low tier deriv regulator

Saint Vincent FSA - Low tier deriv regulator

British Virgin Islands FSC - Low tier deriv regulator

Mauritius FSC - Low tier deriv regulator

I dont see anything so special about Deriv that makes it worth the risk, their trading platforms are slow and have a lot of lag; and their spreads are not exactly the lowest.

FSCA regulated brokers are held to higher standards and can be held accountable ny the South African government. Do not risk trading with high-risk brokers who lack FSCA regulation.

@tiny_ox - 4 months ago

Quoted - mr_casey

Deriv is not regulated by the South African authorities. They are regulated by some less popular low-tier regulators which makes me uncomfortable to trade with them.

Malta FSA - Low tier deriv regulator

Labuan FSA - Low tier deriv regulator

Saint Vincent FSA - Low tier deriv regulator

British Virgin Islands FSC - Low tier deriv regulator

Mauritius FSC - Low tier deriv regulator

I dont see anything so special about Deriv that makes it worth the risk, their trading platforms are slow and have a lot of lag; and their spreads are not exactly the lowest.

FSCA regulated brokers are held to higher standards and can be held accountable ny the South African government. Do not risk trading with high-risk brokers who lack FSCA regulation.

which trusted FSCA regulated brokers would you recommend bro?

@mr_casey

@mr_casey - 1 month ago

Quoted - tiny_ox

which trusted FSCA regulated brokers would you recommend bro?

Not a recommendation but AvaTrade is good for fixed spread and I use them. I also use Trade Nation for trading currency pairs because their spread is low.

@tiny_ox