Deriv · Latest meaningful research
BVI entity match and Labuan name-change discrepancy recorded
Public research
FXVeritas Research Desk
FXVeritas Research Desk maintains broker files from primary and attributable sources. Not a ranking or recommendation.
Methodology review: Research methodology v1 · Last reviewed 23 Aug 2026. Corrections follow the published corrections policy.
Latest saved research:
Latest meaningful research
Prop research records
Recorded firm rules and program terms from existing public research. These are source records, not a change history.
All research recordsFundedNext · Evaluation
Program-level record; not an exact account-size SKU or a firm-wide rule.
Profit target: 10% then 5%
Max daily loss: 5%
Max total loss: 10%
Minimum trading days: 5
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Express
Program-level record; not an exact account-size SKU or a firm-wide rule.
Profit target: 25%
Max daily loss: 5%
Max total loss: 10%
Minimum trading days: 10
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Stellar 1-Step
Program-level record; not an exact account-size SKU or a firm-wide rule.
Profit target: 10%
Max daily loss: 3%
Max total loss: 6%
Minimum trading days: 2
Challenge terms: first reward 5 business days then every 5; fee refund with third reward.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Stellar 2-Step
Program-level record; not an exact account-size SKU or a firm-wide rule.
Profit target: 8% then 5%
Max daily loss: 5%
Max total loss: 10%
Minimum trading days: 5
Product page: first reward 21 days then every 14 days. Funded max risk 3%.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Stellar Lite
Program-level record; not an exact account-size SKU or a firm-wide rule.
Profit target: 8% then 4%
Max daily loss: 4%
Max total loss: 8%
Minimum trading days: 5
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Arbitrage
Firm-level rule; do not assume it applies to every program.
Prohibited
Latency/feed abuse, listed arbitrage types, gap/off-market trading, and cross-account hedging are prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Copy trading
Firm-level rule; do not assume it applies to every program.
Prohibited
Unauthorised copy/signals and account-management / passing services are prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · EA
Firm-level rule; do not assume it applies to every program.
Conditional
EAs/VPS appear as add-ons on Stellar 2-Step. Unauthorised bots, HFT, and mass orders are prohibited (ToS §9).
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Hedging
Firm-level rule; do not assume it applies to every program.
Prohibited
Cross-account hedging is prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · High-frequency trading
Firm-level rule; do not assume it applies to every program.
Prohibited
Unauthorised HFT, mass orders, and Quick Strike are prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · IP address
Firm-level rule; do not assume it applies to every program.
Prohibited
VPN / KYC bypass is prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · News trading
Firm-level rule; do not assume it applies to every program.
Conditional
Stellar 2-Step marketing: news trading allowed. That is advertised on that program, not a global legal default.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · VPS
Firm-level rule; do not assume it applies to every program.
Conditional
VPS clusters used by multiple users are prohibited. Device/IP sharing is prohibited.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rulesFundedNext · Weekend holding
Firm-level rule; do not assume it applies to every program.
Conditional
Stellar 2-Step marketing: weekend holding allowed.
Recorded check date: 2026-08-23
Company-published terms do not establish a financial licence, regulatory protection, or independently verified payout performance.
SourceOpen firm rules
Recently checked files
How the desk works
Public file principles
These rules apply to every FXVeritas public research page. They are not a ranking.
- Research Confidence is not a safety rating.
- Regulator verified does not mean a broker is safe.
- Unknown does not mean unsafe. Unverified does not mean fraudulent. Unregulated does not automatically mean a scam.
- Protection unknown does not mean no.
- Commercial or affiliate relationships do not change research labels, verification status, Research Confidence, or editorial conclusions.
- FXVeritas does not recommend a broker because data has been verified.
Checks, changes and publication
A source check records what was examined and when. It is not a publication date, proof of a material change, or a finding that an entity became safer.
A material update needs an exact subject, evidence of what was previously recorded and what is recorded now, source attribution, checked dates and an important limitation. Formatting edits, source-title edits and unchanged rechecks are not material updates.
Where paired historical evidence is unavailable, FXVeritas does not reconstruct it from a current record. UNKNOWN, explicit absence and conflicting evidence remain distinct. A source URL or content-hash change alone does not prove that the underlying fact changed.
Publication decisions must depend on reader value and evidence. Affiliate status, commission, discounts and commercial relationships must not determine a finding or publication priority.
What we research
- Legal entities
- Regulatory licences
- Licence status
- Client protection
- Broker disclosures
- Regulatory actions
- Material changes recorded on file
Source hierarchy
Primary sources are preferred where they can be attributed.
- Regulator registers
- Official corporate registers
- Broker legal documents
- Regulator notices
- Official disclosures
Verification principles
- Unknown is not treated as No
- Unverified is not treated as false
- Brand names are separated from legal entities
- Licences are tracked at legal-entity level where the file supports it
- Commercial relationships do not change research findings
Limits of the file
A recorded check date means that item was reviewed against sources then on file. It does not mean every field is continuously monitored in real time.
A verified licence is a register match for a named legal entity. It is not a finding that the broker is safe.
FXVeritas does not guarantee completeness or accuracy of every public record.
Related public policy
Related methodology
How FXVeritas records facts, and what those facts are not.
Prop firm rule guides
- FTMO daily loss: count equity, then check midnight
The daily limit counts open losses and trading costs. A profitable day does not let you carry the same extra loss allowance past the reset.
- FTMO: choose the rules before the account size
FTMO 1-Step has fewer evaluation phases; 2-Step gives a larger daily loss allowance and offers Swing. Neither route makes the displayed CFD balance withdrawable cash.