Davy Select Norway Review 2026 – Is It Safe for Norwegian Traders?
PROS for Norway Traders
- Accepts Skrill and USDT, which are popular payment methods among Norwegian non-bank users.
- Potential for anonymous or quick crypto deposits via USDT.
- No excessive regulation means potentially faster account opening, but this is not necessarily a benefit.
- May offer high leverage (although undisclosed), appealing to aggressive traders.
- None – no confirmed advantages for Norway residents compared to FSA-regulated brokers.
CONS for Norway Traders
- No valid license from Finanstilsynet or any recognised European authority.
- No disclosed minimum deposit, spreads, leverage, or funding costs.
- No MetaTrader or any established trading platform available.
- No Norwegian language support and unclear customer service hours.
- Not a member of the Norwegian Investor Compensation Fund, meaning zero deposit protection.
Davy Select Overview for Norway
Davy Select presents itself as an online forex broker, but very little is publicly known about its history, company structure, or financial backing. The broker's headquarters and founding date are not disclosed, which is highly unusual for a legitimate firm. For Norwegian traders, the lack of transparency raises immediate concerns—especially given that Norway has a mature and well-regulated financial environment where traders are accustomed to dealing with licensed and audited brokers.
What seems to attract attention is the ability to deposit using Skrill and USDT, which offers flexibility to traders who prefer not to use traditional bank channels. Nevertheless, the broker offers no verified trading platforms, no clear leverage or spread details, and no regulatory footprint. In 2026, Norwegian retail traders should approach Davy Select with extreme caution, as it fails to meet even the basic standards of disclosure that reputable brokers routinely provide.
| Detail | Information |
|---|---|
| Founded | — |
| Headquarters | — |
| Regulated by | — |
| Min Deposit | $0 |
| Max Leverage | — |
| Platforms | — |
| Islamic Account | Not available |
| Copy Trading | Not available |
| Demo Account | Available |
Regulation & Safety — Is Davy Select Safe for Norway?
Spreads & Trading Costs 2026
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|---|---|---|---|
| EUR/USD | Check broker | Varies | Varies | Check broker |
Account Types for Norway Traders
| Feature | Available |
|---|---|
| Demo Account | Yes |
| ECN/Raw Account | No |
| Islamic (Swap-free) | No |
| Scalping Allowed | Yes |
| Hedging Allowed | Yes |
| Expert Advisors (EA) | Yes |
| Copy Trading | No |
Trading Platforms Available
Deposits & Withdrawals — Norway Guide
Islamic Account — Norway Muslim Traders
Davy Select does not explicitly offer an Islamic (swap-free) account. For Muslim traders in Norway, interest-free accounts are essential to comply with Sharia law, which prohibits earning or paying riba (interest). Since the broker provides no details, there is no way to confirm whether rollover fees are waived or whether hidden administrative charges apply.
Genuine Islamic accounts at reputable brokers are truly swap-free and clearly stated in the terms and conditions. We recommend that Norwegian Muslim traders avoid unverified brokers like Davy Select and instead look for brokers regulated by Finanstilsynet or other EU authorities that offer transparent Islamic accounts. Ensure the broker confirms in writing that no swap is charged for overnight positions and that there are no extra spreads or commissions unless explicitly agreed.
| Feature | Details |
|---|---|
| Islamic Account Available | No |
| Swap Fees | May apply |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
Instruments & Markets in Norway
| Asset Class | Examples | Available | Typical Spread |
|---|---|---|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | All available | Check broker |
| Gold (XAU/USD) | Spot Gold | Available | — |
| Silver (XAG/USD) | Spot Silver | Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | Available | 0.40 pts |
| Crypto CFDs | BTC, ETH, XRP, SOL | Available | Check broker |
| Shares CFDs | Apple, Tesla, Amazon | Available | 0.02% |
Education & Research Tools
Customer Support — Norway Review
Common Mistakes Norway Traders Make with Davy Select
- Mistake: Depositing without verifying the broker’s regulatory status with Finanstilsynet. Always check the official register.
- Assuming that Skrill or USDT deposits are protected – they are not, and you have no recourse against an unlicensed broker.
- Sharing your national ID/passport without confirming the broker’s data protection policy – your identity could be misused.
- Ignoring the absence of a local Norwegian address and phone number – this is a typical warning sign of an offshore shell operation.
- Risking money in an unregulated broker when there are dozens of safe, transparent alternatives available to Norwegian traders.
Davy Select vs Competitors in Norway
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|---|---|---|---|---|
| Davy Select (current) | $0 | Check broker | No | No | 4.5 |
| Pepperstone | $0 | 0.09 pips | Yes | Yes | 4.9 |
| IC Markets | $200 | 0.02 pips | Yes | No | 4.8 |
| Exness | $10 | 0.10 pips | Yes | No | 4.8 |
Security & Fund Protection — Davy Select
Segregated Funds
Negative Balance Protection
Top-tier Regulation
Davy Select User Reviews & Ratings
Trustpilot Rating
CompareBroker Expert Rating
What traders love
Common complaints
Davy Select Latest News & Updates 2026
Final Verdict — Is Davy Select Worth It for Norway Traders?
After reviewing all available information, Davy Select fails to meet the basic standards that Norwegian traders should expect from a forex broker. The most critical issue is the complete absence of regulation. Financial supervision from Finanstilsynet or another reputable European authority is not optional—it is the foundation of trader protection. Without it, your funds are at risk of misappropriation, and you have no independent body to complain to.
Additionally, the lack of transparency about trading costs, platforms, account conditions, and support makes it impossible for Norwegian traders to make an informed decision. Even for an unregulated broker, providing basic information is common practice. Davy Select does not even do that. We cannot recommend this broker to anyone in Norway, regardless of account size or experience level. If you are seeking a trustworthy platform for forex trading in 2026, choose a fully licensed broker that is overseen by Finanstilsynet or an equivalent top-tier regulator and offers clear terms in Norwegian kroner.