Duvaro Review
What Is Duvaro?
Duvaro is an unregulated broker known to allow people to trade CFDs online using the Duvaro Trading Platform.
Duvaro.io, also known for its Transparency they are an offshore broker, and it’s not exactly an old one. In fact, it only opened in 2022, so it is relatively new and aims to provide traders across the globe with cutting-edge technology to trade the world’s markets.
The broker has 450 trading instruments, including 24/7 cryptocurrency trading. Despite the wide variety when it comes to the types of accounts and trading instruments, they only accept bitcoin funding. They do offer a few things, but that doesn’t mean they aren’t lacking in certain areas. Pros and cons are easy to find. So, below we are going to take a look at this broker and review it for you.
| Duvaro Main Features | |
|---|---|
| Established in: | 2022 |
| Headquarters: | Nevis |
| Regulations: | Unregulated |
| Country of regulation: | Unregulated |
| Minimum Deposit: | $250 |
| Platforms: | Easytech |
| Demo Account Available: | Yes |
| Leverage: | 1:300 |
| Withdrawal fee amount: | Varies |
| Inactivity Fee: | Yes |
Who Is The Owner Of Duvaro?
Duvaro is officially owned and operated by POwer48 Ltd. There isn’t any phone number or physical address listed for this, though. All you can find is an email address for contact. The company is registered in Nevis, a popular and well-known offshore zone that is frequently used by unregulated brokers, or brokers that want to offer high leverage and trading bonuses.
| Pros | Cons |
|---|---|
| • Great Trading Platform | • Limited Deposits and withdrawal options |
| • Wide Range of Financial Instruments | • Unregulated Broker |
| • $250 Minimum deposit | • No metatrader 4 |
Safety & Regulation
As mentioned earlier, the broker is an offshore one and it was opened in 2022. It is located in Nevis. In terms of safety, things are not that clear with Duvaro because it isn’t regulated by any authority. After all, we did mention this is an unregulated broker.
Is Duvaro Safe Or A Scam?
Still, not being regulated can put users at risk, as an unregulated broker is not able to offer protection the same way a legit one can. As a result, most people are sceptical when it comes to registering on Duvaro, and rightfully so.
At the same time, the website talks about how they are very careful when it comes to the safety and security of their client’s funds, as well as personal information. You can only take their word for it. At the end of the day, it’s up to the clients whether they trust the site with personal information and funds or not. they do incorporate all due diligence and AML protocols required for European regulations.
Fees
But they do offer details on another fee, respectively an inactivity fee of $85 or equivalent in an alternative currency if you haven’t traded within the last 3 months. So, if you want to trade with them, you need to make sure you’re not inactive for too long or you’ll start being charged.
Account Opening
After that, you only need to verify your email address, after which you can start submitting certain documents that will help verify you.
These include a driver’s license or passport to verify your identity, and a bank statement or utility bill that helps verify if your address is legit. Once the team is done checking all your documentation, you can fund your account and start trading.
As mentioned, you can choose from three different types of accounts. These include Bronze, silver and Gold. If you open a Bronze account, you will be required to make a minimum deposit of $250. This amount is pretty low compared to the industry requirement, which makes it quite sketchy. For all beginner accounts ( bronze), $250 is the acceptable first deposit requirement. For Silver accounts, you are asked to make a deposit of $2500.
However, when you make such a big deposit, you’d expect differences between the different types of accounts. There isn’t any between the silver one and the bronze one, except for the leverage, which for many traders is important
We noticed that we had the option to open a demo account as well. Demo accounts allow clients to try out trading strategies with virtual funds and thus test out the service before committing to a full account. When you open a demo account, you can do so with an unlimited amount of funds, after which you can choose to leverage up to 1:300.
What Is Duvaro Leverage?
Duvaro offers flexible leverage options ranging from 1:100 to 1:300 for several instruments.
How Do I Verify My Duvaro Account?
Please ensure that you have the below documents ready when starting the verification process:
- A valid Proof of Identity (POI) document
Please note: Check the expiry date on the ID document you submit because you will need to go through the KYC verification process again once it expires. - A Proof of Address (POA) document.
(Needs to be issued within the past 3 months. Please Click Here to see the types of POA’s we accept) - A built-in Camera/Webcam. (You will need to take a live selfie photo)
If you are using a computer, please make sure you have a webcam connected to it. If you are using a mobile phone, please make sure it has a camera on it.
Deposit & Withdrawal
It’s important to know what your deposit and withdrawal options are before you start using Duvaro.
Therefore, we tested the system to see how everything works. For both deposits and withdrawals, Duvaro accepts bitcoin as well as credit cards and wire transfers. You can simply start depositing your amount without worrying that a bank will delay the transfer. It will all happen quickly, and you’ll be able to start trading in no time.
What’s great is that if people use bitcoin funding, it’s possible for a buyer to make payments without having to disclose any information they’re scared to share, such as their card details.
What’s more, you can keep track of your deposits or withdrawals using Blockchain.info. On top of that, when a broker makes a deposit or a withdrawal, no fees apply. But since Duvaro is not exactly detailing all the fees they may apply, it’s hard to say whether there is something else or not.
But while it’s good that it’s so easy to make withdrawals and deposits in bitcoin, we also discovered a few things that concerned us when it came to brokers. The potential client base is greatly restricted by the limited funding options, and while it may be a great thing for traders who know enough about cryptocurrency, it affects brokers. It would have been nicer to see some other funding options.
What Is The Minimum Deposit For Duvaro?
The minimum deposit for Duvaro is $250. H
How Long Does Duvaro Take To Deposit?
It usually takes 1-3 hours. You are required to have 3-6 confirmations for your deposit, in order to be processed. It would usually take 1-3 hours, depending on the Blockchain traffic however this can also take up to 24 hours, depending on the processing speeds of the provide
with the credit card of wire transfer it takes always a bit longer and is conform the industry waiting times.
How Do I Withdraw Money with BTC From Duvaro?
To withdraw bitcoin, you have to go to the withdraw many and make sure you have the BTC wallet ID for your external BTC wallet copied. Once you do that, all you have to do is paste the wallet id into the BTC address field, and enter the amount you wish to withdraw, from your available balance.
How Long Does Duvaro Take To Withdraw?
Duvaro aims to process withdrawal requests within 24 hours. Once processed it can take 1-3 hours or as soon as 3-6 confirmations on the Blockchain before the funds will be available in your BTC wallet.
Wire transfers can take up to 5 days and credit card up to 3 days
Trading Platforms
Duvaro offers the easytech webtrader as its main trading platform.
This is used by traders in the entire world, so it’s a pretty good one that can be trusted for trading. What makes it so amazing is the fact that it’s easy to use and is a great option for beginners in trading. Multiple built-in trading tools are available to make sure that people find it easy to use and can trade properly.
Duvaro users can use different devices to start trading with their platform. First, you have a web platform that doesn’t require any download. You simply access it from your browser, and you can start trading. It also works in most modern web browsers, and it doesn’t require you to download any additional programs. Other than that, you have the desktop app – you can download it and start trading without having to keep an extra tab open in your browser.
Furthermore, there is a mobile app that you can download and use on both Android and iOS systems. It is a great option for people who are on the go but still want to keep trading.
Look And Feel
In terms of look and feel, the trading platform is great. The design looks amazing, and the platform overall is user-friendly. All the features can be found with ease and it allows you to start trading as soon as possible.
Login And Security
Duvaro allows you to enable two-factor authentication. 2FA comes in two types with Duvaro. You can enable the 2FA via an authenticator app, or SMS. So, you will have to go through the necessary process of activating one of them and keep your account safe.
Search Functions
The search functions are pretty good, and you can easily browse through the categories available or just type the name of the product you’re looking for.
Placing Orders
Placing orders is also easy with the duvaro trading platforms, regardless of the device you use for trading. It’s user-friendly and quite intuitive.
Markets & Financial Instruments
You can find a good number of trading instruments in various asset classes that you can then trade using the trading platform.
This includes things such as Forex commodities, indices, currency pairs, energies, stocks, metals, and cryptocurrency.
Aside from that, we also discovered that it is possible to use CFD trading. So, you can pretty much speculate on the fluctuating costs without having to be the owner of the underlying asset. If you have enough knowledge of how CFDs work, as well as the risks that online trading comes with, you should not have any problem trading.
There are 11 indices, 100+ stocks, 10+ cryptocurrencies, 55 Forex currency pairs such as minor, major, and exotic FX crosses, as well as several main commodities that include precious metals and energies.
Customer Service
Our experience with the customer service was pretty decent, at least when it came to communication with the agent.
We didn’t have any issues and the person we spoke to was answering the questions promptly and was not being exactly pushy.
However, in order to be connected with customer support, we had to first complete a form on the website by sending them an email. We found that email communication is your best option with Duvaro.
Conclusion