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DECFIN is NOT a legitimate broker and should be avoided at all events. DECFIN claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Supervisory Authority (FSA) without providing relevant details about its regulation. We keep on reminding our readers that the lack of information (or false information) about the broker's regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity.
Besides, the financial regulator in the UK is Financial Conduct Authority (FCA) rather than the alleged FSA. The truth is, we didn't find any information about its regulation from FCA and CySEC. So currently DECFIN is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws.
What's worse, the Spanish regulator CNMV has added DECFIN into the unregistered firm alert and warned the public that the firm is not authorised to provide the investment services in the country. You can check full warning from CNMV on DECFIN here.
Our final verdict is that DECFIN is thoroughly a scam and we would recommend you to avoid unregulated brokers like DECFIN and choose properly regulated brokers.
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