Deriv User Alleges Withdrawal Blocked Over Trading Activity
A Trustpilot user claims Deriv declined a withdrawal request, stating they did not trade enough, despite depositing $2,000 and trading for 7 days. The user warns others about potential withdrawal difficulties.
deriv is in the FXCanary database Our review · 33/100 →What the reviewer wrote“WARNING WARNING. WARNING, WARNING BE WARE!!!! I deposited 2000 usd, and trade for 7 days Xrp. Then i wanted ro withdraw 995 usd. My withdraw was declined with a reason i did not trade enough!!! IS THIS NOT FORCING A PERSON TO TRADE???? So until now my issue is pending waiting for a reasons!!! Its has been 4 days since i requested withdraw. Be ware be warned..”
A user on Trustpilot has raised concerns about Deriv, a popular online trading platform, after their withdrawal request was allegedly declined. According to the post, the user deposited $2,000, traded XRP for 7 days, and then attempted to withdraw $995. The withdrawal was reportedly rejected with the explanation that the user had 'not traded enough.' The user expressed frustration, stating that this feels like being forced to trade more, and noted that the issue has been pending for 4 days without a clear resolution.
This complaint highlights a common red flag in the trading industry: withdrawal delays or denials based on vague conditions. While some brokers enforce volume requirements to prevent misuse, the lack of transparency in this case is concerning. The poster's experience suggests that traders may face unexpected hurdles when trying to access their funds.
It is important to note that this is a single user's account, and Deriv has not publicly responded to this specific complaint. However, such allegations are not uncommon in the forex and CFD space, where regulatory oversight can vary. Traders should be aware that brokers may impose trading volume requirements, but these should be clearly stated in the terms and conditions before depositing funds.
For anyone considering using Deriv or similar platforms, the following precautions are advised: - Read the broker's terms and conditions thoroughly, especially sections on withdrawals and trading volume requirements. - Start with a small deposit to test the withdrawal process. - Document all interactions and keep records of deposits, trades, and communication with support. - If a withdrawal is denied, request a detailed explanation in writing and consider filing a complaint with the platform's regulatory body or a third-party dispute resolution service.
As always, exercise caution and only trade with funds you can afford to lose. If you encounter issues, sharing your experience can help others avoid similar pitfalls, but always ensure that claims are based on verifiable facts.
This report summarises a third-party post; all allegations are attributed to the original source and are not independently verified by FXCanary. It is not a statement of fact or a legal judgment. Firms may request a correction.