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In my experience as an independent trader who prioritizes safety and transparency, I approach platforms like Derayah with considerable caution. Although Derayah has been in operation for several years and is well known in the Saudi market, the absence of regulation from any recognized financial authority is a critical concern for me. According to my standards of due diligence, a valid regulatory license is essential because it provides an extra layer of protection in dispute resolution, client fund segregation, and operational transparency—none of which can be independently verified in Derayah's case. While the firm does offer access to regional and some international markets through its proprietary platforms, and its fee structure appears transparent for equity and bond trading, I am mindful that the best interests of traders are ultimately safeguarded by strict regulatory oversight. User sentiment and available reviews echo similar concerns, flagging a high potential risk due to Derayah's unregulated status and suspicious regulatory claims. Their offerings do not cover forex or commodities, so its scope is also somewhat limited for diverse traders. For me, legitimacy in the trading world requires more than years in business and a visible online presence—it comes down to whether the broker meets established industry standards for accountability and regulatory compliance. Given these factors, I cannot confidently consider Derayah a fully legitimate option for risk-conscious traders like myself. I would urge anyone considering Derayah to exercise considerable caution and explore regulated alternatives before committing any funds.