Deriv Refunds $26K After 13-Month Delay as Client Seeks Compensation for Lost Opportunities
An Indian client has filed a complaint against online broker Deriv after waiting 13 months to recover $26,455, following unauthorized withdrawals and account closure. The account was initially closed on July 29, 2024, with two withdrawals occurring in August 2024. Deriv cited “submission of falsified documents” as the reason for the closure.
The client officially requested a refund on August 5, 2025, and was initially assured that the account had been verified and the refund would be processed within 1–3 business days. However, Deriv requested additional documents that were not required under company policy and eventually rejected the refund on August 27, 2025.
Unable to resolve the issue, the client escalated the case to the LFSA regulatory authority, which eventually led to Deriv refunding the full amount on September 1, 2025. The client is now seeking compensation for emotional distress and lost investment opportunities due to the broker’s delays and unfair handling.
Investor Takeaways:
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Always verify that your broker is licensed and regulated by a credible authority.
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Carefully review and understand all terms and conditions before trading.
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Maintain thorough records of communications and transaction documents.
At Followme, we urge all traders and investors to do thorough research, question unrealistic offers, and prioritize security over quick gains. This case serves as a reminder that delays and disputes with brokers can have serious financial and emotional consequences. Stay alert, stay informed, and trade responsibly.
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