1. Market Manipulation Allegations
Many traders have reported experiencing suspicious price movements on the platform, particularly when trading synthetic indices like Crash, Boom, and Volatility indices. Unlike forex or stocks, where market prices are influenced by real-world factors, synthetic indices are entirely controlled by the platform.
Examples of Alleged Manipulation:
- Sudden Spikes and Drops: Traders often encounter sudden, unexplained price spikes that trigger stop losses, even when the market trend should logically continue.
- Order Delays and Execution Issues: Complaints include trades being executed at unfavorable prices or with significant delays, which can lead to unexpected losses.
- Chart Inconsistencies: Some users claim that price charts on Deriv do not match the historical data available elsewhere, leading to suspicions of price manipulation.
2. Unregulated Synthetic Indices
One major issue is that synthetic indices offered by Deriv.com are not subject to regulation or external oversight. Unlike forex or stocks, where prices are dictated by global market dynamics, synthetic indices are created and controlled solely by Deriv. This lack of transparency raises concerns about the fairness of these markets.
3. Withdrawal Difficulties
Another red flag frequently mentioned by users is the difficulty in withdrawing funds. Complaints include:
- Withdrawal Delays: Traders report waiting for weeks or even months to access their money.
- Account Verification Issues: Users claim that the platform requests excessive documentation or repeatedly rejects verification attempts to stall withdrawals.
4. Poor Customer Support
Customer support is another area where Deriv.com has faced criticism. Many users express frustration over unresponsive support teams or generic responses that do not address their specific concerns.
5. High Leverage and Risk Exposure
Deriv offers high leverage options, which can amplify both gains and losses. While leverage can be an attractive feature for experienced traders, it also increases the risk of significant losses, particularly in a market that some claim is manipulated.
What Should Traders Do?
If you are currently trading on or considering using Deriv.com, here are some steps to protect yourself:
- Research Thoroughly: Understand how synthetic indices work and the risks involved.
- Start Small: Avoid investing large sums until you are confident in the platform’s reliability.
- Document Everything: Keep records of all transactions, correspondence, and screenshots of any irregularities.
- Use Regulated Platforms: Whenever possible, choose trading platforms that are regulated by reputable financial authorities.