Duvaro Review – Discovering the Truth about this Broker

Duvaro Review

With online brokers increasing in number every day, it is a given that choosing one can be a major challenge for anyone who wants to engage in the financial markets. It is very tempting to opt for the first brokerage that draws your attention, but you need to remember that their promises alone should not be the basis of your decision. Every company will try to convince you to choose them, but you have to do your own assessment and this is the purpose of this Duvaro review.

It is an important step because not every brokerage is going to tell you the truth about their services. Some may just not be very open about their shortcomings, while others may be covering up their whole nature. How? Some of the platforms in the online trading market are fraudulent, which means they are not legitimate and are only interested in stealing your money. You can find countless stories of such companies that stole money from people and then disappeared.

Even thinking about losing your money can be devastating, so it is understood that you do not want to have to go through it at all. But, how do you make sure that does not happen? The key is to not just go through a broker’s presentation because they are obviously going to hype themselves up. They will make big claims and promises and you are probably going to be very impressed.

However, you should remember that it is easy for anyone to claim anything over the internet. You have to check everything carefully to ensure it is the truth. When you do so, you will find that Duvaro is not what it seems to be. It promises to give you seamless access to some of the top financial markets in the world and Duvaro also boasts about a professional platform and competitive spreads.

But, you will soon find that it has absolutely no credibility. Why? Let’s take a look.

Absence of regulation and licensing

The simplest way of assessing the credibility of a brokerage is by taking a look at its licensing and regulation. When a company has a proper license and authorization to offer its services, you can trade with peace of mind. This is because such companies can guarantee you safety of funds and also offer quality trading services that you cannot find elsewhere. Plus, they also comply with all laws and policies. But, you cannot say the same thing about Duvaro because it is not licensed or regulated.

If you look into its background, you will find that Duvaro claims to be owned and operated by a company called 48Power Ltd., which is operating out of St. Kits and Nevis. This means that the brokerage is registered offshore and can offer you absolutely no protection, whatsoever. You cannot confirm anything about the brokerage, including the authenticity of the address on its website.

It is hiding behind an offshore and opaque company and this means that you have no idea who is truly behind Duvaro and it can just vanish without warning. Would you be willing to deal with a company like that?

No professional trading platform

A decent and professional trading platform can play a great role in the online trading success of an individual. It comes with cutting-edge tools and advanced technology that offers quick execution and gives you the latest updates that can help in good decision making. You can find about the top trading platforms in the market with just a simple Google search and come across names like cTrader, MT4 and MT5.

When you check out Duvaro’s offerings, you will find that the brokerage is promising you multi-asset and professional platform, but it is none of the options mentioned above. Instead, what you do find is a basic and overly simplistic web trading platform that does not have anything special to offer.

There are no such tools or features on the Duvaro platform that make it stand out. In fact, it comes off as the standard platform that many fraudulent platforms offer to further their story and nothing more.

Anydesk application

A close look at Duvaro’s offerings will also help you come across the Anydesk icon on the website that may appear to be benign at first glance. However, you should note that this is a remote desktop application that has been designed for the primary purpose of helping people access their home PC no matter where they are.

But, why is Duvaro offering the application to you? This is a common tactic amongst scam platforms, as they offer the app and ask you to share the installation details with them. When you do so, they can inadvertently get access to your home PC. This means they can find out your credentials, including email, passwords and your personal banking details and codes.

Hence, you will essentially empower those behind Duvaro to steal money directly from your account because they will have all the details needed for doing so.

Lack of competitive trading conditions

The trading conditions that you will come across at Duvaro also show you the truth about the broker; it only intends to exploit. The spreads that are offered by the broker are as high as 3 pips for the benchmark EUR/USD pair, which is twice more than most brokers and three times more than the most competitive ones in the market.

This makes it very unprofitable for traders to choose this platform. Furthermore, the leverage Duvaro offers can go as high as 1:400, which is incredibly risky and not approved in most jurisdictions. This is another big concern.

High deposit

You will find that Duvaro asks you to deposit a whopping $5,000 to open an account with the broker and this is just excessive. These days, most platforms allow their clients to open accounts for as low as $10. Even if they stick to average, it should not be higher than $250.

The Truth

You will discover that Duvaro is not an authentic and genuine broker and should be avoided.