This card's effect finishes resolving after drawing 1 card.[1]
You cannot activate this card if you have 2 or less cards in your Deck. Also, even if there are 3 or more cards in your Deck, you cannot activate this card if you do not have 3 cards with different names in your Deck.[1]
Even if both players control monsters that have the highest ATK on the field, you can still activate this card.[1]
Q&A Rulings
Q: After I activate "Draw of Fate", the part of its effect that only allows me to activate 1 card or effect this turn is applied. In this situation, if the activation of the card or effect that I activated afterward was negated by my opponent's "Tri-Gate Wizard", can I still activate another card or effect that turn?
A: In this scenario, if the activation of a card or effect that you activated after applying the effect of "Draw of Fate" was negated, you can activate another card or effect that turn.[2]