Duvaro Review – Is This Broker Reliable?

Duvaro Review

All we can say positively about Duvaro is that their website is easy to use and they provide a competent trading platform. To trust a brokerage firm, however, we would require far more information, and this firm offers no evidence that it is overseen by a reliable financial regulator.

Duvaro provides poor trading conditions and inadequate transparency. Read this Duvaro review to know why we don’t recommend this broker to you.

Duvaro Regulation And Funds Security

Duvaro asserts to have its headquarters and registration in St. Kitts & Nevis. This may be accurate, but it doesn’t imply that the brokerage is necessarily governed.

Only the banking industry is regulated by the local government of the nation; forex brokers are not included. Therefore, a broker licensed in St. Kitts & Nevis would not be subject to any regulations or required to operate in a particular way.

Additionally, in accordance with local law, anyone who wants to file a lawsuit against a firm registered in St. Kitts & Nevis must engage a local attorney and deposit a cash bail in a local court. This implies that if you are a victim of fraud and want justice or wish to recover your money, you will have to go through a lot of red flags and pointlessly difficult processes.

Trading Platform From Duvaro

The web-based trading platform provided by Duvaro is actually quite good. When it comes to functionality, such platforms cannot be compared to market leaders MT 4 and MT 5. They do, however, provide a respectable selection of tools and functions and are relatively beginner-friendly. We still advise you to check out what MetaTrader platforms have to offer first, though.

Both of these platforms are very popular, which is understandable given that they both provide a robust record-keeping and evaluation package as well as tools like EAs that monitor markets and execute trades automatically, VPSs you can buy to keep your trading bots running even when your laptop is off, the ability to create custom scripts or set trading indicators, and much more.

Trading Conditions At Duvaro

Duvaro requires a minimum deposit of $250 to start a fundamental trading account. This is a reasonable sum, but we feel that it is a little excessive because many better and more reputable brokers provide accounts at far lower prices. It is entirely possible to sign up as a customer of a reputable broker for 100 USD or less.

Methods for Deposit and Withdrawal

Duvaro asserts that it accepts wire transfers and other types of electronic payments for deposits. The broker did not specify which specific payment options were being used, though. Additionally, it didn’t give us any banking information; to find out more, we’d have to get in touch with the broker.

However, we advise against making deposits with such dishonest companies, particularly through wire transfers, as it is difficult to undo such transactions in practice. It won’t be simple to get your money back.

Duvaro levies a hefty dormancy fee of $85 after merely thirty days of no activity. The majority of reputable brokers that charge such fees take a little longer—at least three months—and will charge you a little amount.

This condition states that bonuses are not considered deposits and can not be withdrawn unless otherwise approved. However, in accordance with this provision, earnings made as a result of those bonuses may also be regarded as non-deposited funds and are likewise not subject to withdrawal.

But who could pinpoint the precise causes of the profits? No trustworthy broker would attempt to restrict your ability to access your winnings in this manner, but con artists frequently do this to keep you from withdrawing.

Conclusion

Overall, choosing this firm would be a horrible investment decision because, if you create an account with them, you will just become a victim of a robbery.