Worked example
Practising on DeltaStock's numbers
This is an exercise sheet, not a review. We are going to take three things that DeltaStock publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
DeltaStock does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. DeltaStock offers 0 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are DeltaStock's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| FSC Bulgaria · Bulgaria | Deltastock AD | RG-03-146 | a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme |
No top-tier line appears on this file. That does not make the firm illegitimate, but it does mean the compensation-scheme and capital-rule protections a beginner usually assumes are present are not evidenced here.
The record behind these numbers
- Deltastock AD's own impressum states it is licensed and regulated by the Financial Supervision Commission of Bulgaria under licence No RG-03-146 and operates under MiFID II.
- The impressum describes a joint-stock company registered under the laws of the Republic of Bulgaria with registered office in Sofia, 6 Korab Planina Street, UIC 128042807.
- The site states the company is registered with BaFin (Germany) for passported services; the German BaFin licence number is not stated on the page.
- A third-party review site (WikiFX) displays a 'license exceeded' status note for Deltastock AD; the broker's own site and Bulgarian register were not checked further, so the current register standing is not verified here.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: founded: founding year not verified (site claims '25 years of experience' marketing); minDeposit: account-spec table not verified; maxLeverage: not verified from a legal page; spreadEurusd: not verified; accountTypes: per-account minimums not captured; segregatedFunds / negativeBalanceProtection: client agreement not extracted; instruments: full list inferred from site navigation, not a legal instrument list. Confidence in this file overall: medium. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
pipdojo.com does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.