Beware! DeltasCrypto is an offshore broker! Your investment may be at risk.

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To the untrained eye, DeltasCrypto may seem like a credible forex broker. But closer inspection reveals a host of clues that this is not the case. DeltasCrypto is actually a fairly typical online scam posing as an established forex broker. Let’s take a look at how you might recognize this type of scam.

DeltasCrypto Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
DeltasCrypto
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

DeltasCrypto does not specify which company manages this alleged broker and does not provide an exact contact address. The website lists licence numbers without specifying which regulatory institutions they are supposed to be from.

The text of the Terms and Conditions states that DeltasCrypto is based in Estonia. But such an anonymous website could not legally operate in a regulated jurisdiction. A check of the Estonian Financial Supervision Authority  registry shows that there is no licensed broker by that name.

At the same time, DeltasCrypto has been blacklisted by several other financial regulators, including the UK’s Financial Conduct Authority (FCA).

If you have decided to invest in financial instruments you have a choice of much more trustworthy options.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

DeltasCrypto Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
DeltasCrypto platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality.

We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

DeltasCrypto Trading instruments

CurrencyStocksIndicesCryptoCommodities
DeltasCrypto
XMYesYesYesYesYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

DeltasCrypto claims to offer trading in forex, commodities, shares, indices and cryptocurrencies. But as stated we have no reason to believe that this shady website offers real trading.

DeltasCrypto Spreads and cost of trading

DeltasCryptoXMFBSFXTM
Spread EURUSD01.711.1
Spread GBPUSD01.31.21.4
Spread USDJPY01.31.21.4

In the trading platform we see a zero spread, which implies that the broker charges some kind of commission. But DeltasCrypto does not provide any information about the price paid by the trader.

DeltasCrypto Maximum leverage

ForexStocksCryptoGoldIndices
DeltasCrypto200:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

A high leverage of 1:200 is set in DeltasCrypto’s trading platform. This is further evidence that DeltasCrypto is not the regulated broker it claims to be. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses. Higher levels of leverage are only offered to professional clients who trade entirely at their own risk.

Another such piece of evidence is the claim that DeltasCrypto offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

DeltasCrypto Deposit and withdrawal methods

At the time of writing this review the deposit menu was not active. We were therefore unable to ascertain what payment methods were available.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

DeltasCrypto Minimum deposit

DeltasCryptoXMFBSFXTM
Minimum deposit$250$5$10$5

DeltasCrypto requires a deposit of 250 USD for a starter account. For the same amount you could open a trading account with an established broker. Many leading brands offer beginner investors Micro accounts with a much lower entry threshold.

DeltasCrypto Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
DeltasCrypto200x50USDNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

If you are allowed to withdraw any money at all, the fees for doing so are substantial and as high as 50 USD. Legitimate brokers rarely charge transaction fees.

And even more worrying, DeltasCrypto charges a whopping 10% levy on accounts that withdraw funds before they reach “200 in turnover”. It doesn’t specify 200 what – presumably they mean 200 lots, i.e. 20,000,000 currency units. Such vague and extortionate clauses are typical of fake brokers.

We have seen the exact same scam clause being used by numerous other bogus brokers, for example  SwissRoi, PNL Advanced, Librapros, Globexbull, Onecapital Invest and CryptoChainGroup.

DeltasCrypto also charges a 10% monthly fee for inactive accounts.

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