Insta R.

Online option trading platforms have gained popularity in recent years, offering individuals the opportunity to trade from the comfort of their own homes. One such platform, deriv.com, claims to provide users with a simple and efficient way to engage in options trading. However, my personal experience with deriv.com has been nothing short of disastrous, leading me to believe that platforms like this are destroying innocent people's lives.

I joined deriv.com towards the end of 2019, attracted by their promises of substantial profits and the ease of trading options. Initially, I started with a small amount of funds, hoping to grow my investment over time. However, as the months went by, I found myself consistently losing money, ultimately ending up with a devastating $10,000 loss.

Despite this setback, I couldn't shake off the allure of deriv.com and its enticing advertisements. Against my better judgment, I decided to give it another try. Unfortunately, history repeated itself, and I continued to suffer losses in my trades. Desperate to recover my lost funds, I made the ill-advised decision to keep depositing money into deriv.com totalling $******* till 19/05/2023.

I tried everything I could think of to turn the tides in my favor, including extensive technical analysis. However, it seemed as though something was working against me. It was at this point that I decided to delve deeper into deriv.com and try to get to the bottom of my continuous losses.

Through my online research, I stumbled upon numerous claims that deriv.com manipulates trades, ensuring that users ultimately lose their invested funds. Feeling betrayed and deceived, I promptly lodged a complaint with deriv.com, expecting acknowledgment and some recourse for my losses. To my dismay, my complaint was simply rejected, and instead of addressing my concerns, they proceeded to block my trading account.

Refusing to give up, I took my complaint to the Malta Financial Service Authority (MFSA), the regulatory body overseeing deriv.com. After a grueling 20-day wait, I finally received a response, but it was not the resolution I had hoped for. The MFSA stated that I held no account with deriv.com, but rather with a subsidiary company in Saint Vincent and the Grenadines (SVG), which is not under their jurisdiction.

Frustrated and feeling powerless, I reached out to the SVG Financial Services Authority (SVGFSA) to file a complaint against deriv.com. Although their response was relatively prompt, informing me that they would investigate the matter and inform me of the complaint process, I have yet to receive any further communication from them, despite it being more than 10 working days.

It is evident that deriv.com and companies within the deriv group operate in a manner specifically designed to evade accountability. By registering various subsidiaries in different countries, they can easily shift a user's account from one location to another, making it difficult for victims to find legal recourse. These countries often lack robust frameworks for taking action against such fraudulent companies, allowing them to continue exploiting unsuspecting individuals and destroying lives.

While the team at deriv.com, including Johanna Farnando, the director of the deriv group, may be enjoying their prosperous lives, the victims of their deceitful practices are left to grapple with sleepless nights, strained relationships, and the emotional toll of losing their hard-earned money.

It is crucial for regulatory bodies around the world to take a concerted effort to address the concerns raised by victims of platforms like deriv.com. By implementing stricter regulations and oversight, innocent individuals can be protected from falling into the clutches of these unscrupulous online trading platforms. Only then can we hope to prevent more lives from being destroyed by their deceptive practices.