DavyFinancial Spreads, leverage, minimum deposit Revealed

　　Note: At this time, we only have a cursory look at DavyFinancial as the company's official website (https://www.davyfinancial.com/ ) does not open properly.

　　Screenshot time: 01/09/2023

　　WikiFX provides dynamic scoring, it will track the broker's dynamic real-time scoring, the current time screenshot scores do not represent past and future scoring.

　　General information and regulations

　　DavyFinancial is registered in Marshall Islands and appears to be a fraudulent broker without any credible regulation, with a history of no more than 2 years. Unfortunately, we could not find any more detailed information about this broker on the internet. Therefore, we recommend that you do not deal with such a low-information broker right off the bat and always consult WikiFX to get at least a basic understanding of a broker.

　　When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.

　　Account types

　　DavyFinancial offers a total of 5 account types: micro, silver, gold, platinum and exclusive. the minimum deposit to open an account is $250, $2,500, $10,000, $50,000 and $200,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a micro account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

　　Customer support

　　The support service provided by DavyFinancial is not very extensive. It can only be accessed via email and an address. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.

　　Below are the details about the customer service.

　　Email: support@davyfinancial.com

　　Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960

　　Users exposures

　　We have not received any reports of fraudulent activity at this time.

　　Frequent asked questions about DavyFinancial

　　Is this broker well regulated？

　　No, it is currently not effectively regulated and you are advised to be aware of its potential risks.