CONTENT Complaint Content:
In my experience, Deriv uses its Terms & Conditions mainly as a tool to defend itself when challenged, rather than as a fair framework to safeguard its clients. My case shows how Deriv withheld funds, made false allegations, and shifted jurisdictions until regulators intervened.
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Case Timeline
1. 29 July 2024 – Account Disabled & Funds Withheld
My account (CR5427736) was suddenly disabled with false fraud allegations, trapping USD 26,455.
2. 14 August 2024 – Unauthorized Withdrawal
Deriv unilaterally withdrew the entire balance of USD 26,455 without my consent, later shifting it into an SVG wallet structure.
3. 5 August 2025 – Formal Complaint Filed
After one year of waiting, I lodged a formal complaint demanding refund.
4. 11 August 2025 – Account Verified
Deriv confirmed my account was fully verified and authenticated, promising refund within 1–3 working days (as also confirmed in live chats with Lorick and Romeo).
5. 11–16 August 2025 – Missed Deadline
Despite repeated assurances from multiple agents (Lorick, Romeo, Boon) that my refund was in process, Deriv missed its own deadline of 16 August 2025, forcing me to issue a Final Warning.
6. 22–27 August 2025 – ITR Coercion, Health Disclosure & Final Refusal
On 22 August 2025, during a Zoom call, I explicitly informed SVP Gemma Doyle about my health conditions and the stress this prolonged dispute was causing. Despite this, Deriv continued to pressure me to provide unnecessary documents beyond its Terms. Under this pressure, on 23 August 2025, I submitted my Income Tax Return (ITR) — even though filing was not mandatory in my jurisdiction and not required under Deriv’s Terms. Still, on 27 August 2025, Deriv issued a final refusal to release the refund.
7. 27 August 2025 – Regulatory Escalation & Compensation Claim
I escalated to LFSA, MFSA, BVIFSC, FSC Mauritius, SVGFSA, and SCA Dubai and filed a formal compensation claim citing emotional distress, lost investment opportunity, and pu
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