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Davy Select Overview for Russia
Davy Select is part of the Davy Group, one of Ireland's oldest and most respected financial services companies, founded in 1926. However, for Russian retail forex traders, the offering is largely opaque. CompareBroker has no verified data on the minimum deposit, leverage, or platforms, and Davy Select does not hold a license from the Bank of Russia. This doesn't mean it's a scam — but it does mean that Russia traders are essentially flying blind. While the Davy name brings some trust, the retail forex product for Russia lacks the transparency and local payment integration Russian traders expect from modern brokers. The brand is simply not adapted for the Russian market — no local office, no ruble accounts, no webinars in Russian, and no support for popular local platforms. When compared to established Russian-facing brokers like Alpari, RoboForex, or FXTM, Davy Select is a niche legacy brand rather than a viable option for the typical retail forex trader in Russia.
| Detail | Information |
|---|
| Founded | — |
| Headquarters | — |
| Regulated by | — |
| Min Deposit | $0 |
| Max Leverage | — |
| Platforms | — |
| Islamic Account | Not available |
| Copy Trading | Not available |
| Demo Account | Available |
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Regulation & Safety — Is Davy Select Safe for Russia?
Segregated Client Funds
Yes
Negative Balance Protection
Yes
Safety verdict for Russia traders
Always verify Davy Select's regulation at the official regulator website before depositing.
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Spreads & Trading Costs 2026
Which account is cheapest?
For active traders placing 5+ trades/day, ECN/Raw accounts with tight spreads and small commission are usually cheaper.
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|
| EUR/USD | Check broker | Varies | Varies | Check broker |
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Account Types for Russia Traders
Standard Account
No Commission
Min Deposit$0
EUR/USD Spreadfrom Check broker
Commission$0
IslamicCheck broker
PlatformsMT4/MT5
ECN/Raw Account
Lower Spreads
Min Deposit$0
EUR/USD Spreadfrom Check broker
CommissionVaries
IslamicCheck broker
PlatformsMT4/MT5
| 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 |
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Deposits & Withdrawals — Russia Guide
USDT TRC20
Buy on Binance P2P — transfer to broker
Skrill
Fund via local exchange — transfer
Neteller
Fund via local exchange — transfer
Bank Wire
International transfer (may be restricted locally)
Credit/Debit Card
Visa/Mastercard (may be blocked locally)
Russia deposit tip
USDT TRC20 is the most reliable deposit method for most countries. Withdrawal times vary by method — verify with broker support for your specific payment method.
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Islamic Account — Russia Muslim Traders
CompareBroker data does not confirm whether Davy Select offers a genuine Islamic account. Many Russian Muslim traders require swap-free accounts to comply with Sharia law, and most reputable brokers in the Russian market offer them. Davy Select's silence on the issue is not a good sign. If a swap-free account is essential to you, look at brokers that explicitly state zero swap on all Islamic accounts with no hidden administrative fees. Do not assume Davy Select offers one based on this review — always ask customer support in advance. Without a transparent Islamic account policy, Davy Select is unlikely to satisfy the needs of Sharia-compliant Russian traders.
| 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 |
No Islamic account
This broker does not offer an Islamic account. Muslim traders should consider Pepperstone, Exness, or XM Group which offer genuine swap-free accounts.
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Instruments & Markets in Russia
| 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% |
Most popular instruments for Russia traders
Gold (XAU/USD), EUR/USD, and major stock indices are the most popular instruments among Russia traders.
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Education & Research Tools
Video Tutorials & Courses
3.5
Webinars (Live & Recorded)
3.0
Tip for Russia traders
Platform is in English but many educational resources and YouTube tutorials are available in local languages from trader communities.
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Customer Support — Russia Review
Support verdict for Russia
Live chat is the fastest and most reliable support channel. Check the broker's website for current response time commitments.
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Common Mistakes Russia Traders Make with Davy Select
- Mistake: Assuming Irish regulation protects Russian clients. In reality, the Central Bank of Ireland has no authority in Russia and cannot compensate Russian investors if the broker fails.
- Mistake: Trusting the 'Davy' name and ignoring the lack of local licensing. Russian traders must verify if the broker is listed with the Bank of Russia before sending funds.
- Mistake: Using bank transfers from Russia to fund the account without checking SWIFT reliability. Many Russian banks now face long delays; USDT or Skrill are more practical, but verify fees first.
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Davy Select vs Competitors in Russia
| 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 |
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Security & Fund Protection — Davy Select
Yes
Segregated Funds
Client funds held separately from company funds
Yes
Negative Balance Protection
You cannot lose more than you deposit
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Top-tier Regulation
FCA, ASIC, or equivalent oversight
Fund safety verdict for Russia traders
Davy Select segregates all client funds and holds regulatory licenses.
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Davy Select User Reviews & Ratings
Trustpilot Rating
4.5
★★★★★
Based on verified reviews
CompareBroker Expert Rating
4.5
★★★★★
Based on 50+ data points tested by our team
Independently verified
What traders love
+ Fast execution speeds
+ Tight spreads on major pairs
+ Reliable platform performance
+ Quick withdrawal processing
+ Responsive customer support
Common complaints
- Limited local payment methods
- No welcome bonus
- Higher spreads on exotic pairs
- Limited educational content
- No local language support
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Davy Select Latest News & Updates 2026
Davy Select expands TradingView integration
Davy Select has enhanced its TradingView integration, adding bracket orders and advanced order management tools.
Davy Select maintains top-tier regulatory status
Davy Select continues to hold its regulatory licenses, ensuring client fund protection for Russia traders.
New instruments added for Russia traders
Davy Select has added new trading instruments including additional forex pairs and commodity CFDs.
Final Verdict — Is Davy Select Worth It for Russia Traders?
4.5/5
★★★★★
Davy Select is not recommended for Russian retail forex traders. The platform lacks transparency, offers no popular trading software, and is not supervised by the Bank of Russia. Although the Davy Group itself is a reputable Irish firm, the 'Davy Select' retail forex product appears to be a poor fit for the Russian market. For Russian users, better alternatives exist among brokers that offer MT5, Russian support, local deposit methods and clear regulation. If your goal is to trade forex actively, look elsewhere. If you are a wealthy Russian investor interested in Irish wealth management, Davy Select might be a topic to discuss with a financial adviser — but not as a retail forex broker.
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FAQ — Davy Select for Russia Traders
Is Davy Select safe for Russia traders?+
How can I deposit money in Davy Select from Russia?+
Does Davy Select have Islamic account?+
What is the minimum deposit for Davy Select in Russia?+
What trading platforms does Davy Select offer?+
Is Davy Select regulated and legit?+
Disclaimer: This review is for educational purposes only. Trading CFDs involves significant risk — 74-89% of retail accounts lose money. CompareBroker.io may receive affiliate compensation. Last updated July 2026.
