DCMGroup Review: The Key Aspects of this Trading Platform
Is Dcmgroup just another scam broker? It most certainly is! This broker scam is in no way different from numerous other scammy brokers registered on cheery offshore isles. This firm is deceptive, and it hides some vicious clauses in its legal documentation.
You won’t be able to register on their website. However, most of the data on the website appears to be fake. Let’s dig deeper into this Dcmgroup review to find more valuable facts!
Additionally, we strongly advise you to avoid the fraudulent brokers CDG Global, TradesUniversal, and XProMarkets.
|Leverage||up to 1:500|
|Headquarters||Republic of the Marshall Islands|
|Platforms||web trading platform|
Dcmgroup License and Regulations
First and foremost, the Spanish regulator has issued a warning against Dcmgroup. This is because they have no legal right to offer investment services in Spain or in any EU country. In addition, such warnings are often issued by regulators after receiving complaints from investors who were targets of this scam.
Dcmgroup apparently is a trademark of ARCHAX LTD, a firm supposedly registered in the Marshall Islands. The Marshall Islands is one of the most common destinations for fraud brokers. Why? Well, this is because of the liberal laws concerning the incorporation of businesses and lax taxes. Notably, Dcmgroup is one of those firms– given its offshore base and the warning against it.
Please stay far away from this and other similar shady offshore brokers. Mainly stay away from them if they have gotten under the radar of economic regulators. This points to a big fraud.
It’s wise to work with legit and licensed businesses like those regulated in the EU. These provide traders with a high degree of security. Brokers regulated in the EU should meet specific minimum capital conditions at all times. Also, they need to report on open and closed trades, provide negative balance protection, and so forth.
Available Trading Platforms
On their website, they claim they have custom-designed web trading software. However, the links to the alleged mobile apps of this platform are empty. After signing up for an account and logging into the portal, you won’t find anything. This also indicates that Dcmgroup is a fraud aimed at individuals who have no understanding of trading and are not aware of what to expect from a broker.
Regulated brokers offer a comprehensive selection of trading platforms, including desktop, mobile, and web-based venues.
The most widely used venues in the industry are MT4 and MT5. These trading platforms have verified themselves as industry standards. How? Well, they offer a broad range of features, including a mixture of choices for customization, designing and executing custom scripts for automatic trading, and more.
Dcmgroup Account Types Available
Is there any relevant information on the trading accounts that this platform offers? Are they real? Dcmgroup claims to offer 4 sorts of trading accounts. Let’s take a look at them below:
Keep in mind that each has minimum initial deposit requirements. These start at €3,500, €7,000, €25,000, and €100,000. Beware that this absurd amount is a big indicator of a scam.
Deposit and Withdrawal Procedure
This broker also has some oddly one-sided deposit and withdrawal policies. If you wish to make any money, choose legit brokers like those licensed to operate in the UK or EU.
Dcmgroup broker seems to offer trading incentives that come with the typical terms. To be able to withdraw the bonus funds, you need to meet a minimum trading condition that is nearly impossible to reach. This goes without saying!
Such clauses are frequently used by fraudsters such as Dcmgroup in order to reject withdrawals outright. The first minimum deposit is set to $250. Aside from that, the minimum deposit amount for the basic account is set at €3500 for a Basic account. This amount is bizarre, by all means.
How is the Fraud Perpetrated?
It is possible to be tricked by a shady broker in many different ways. Often, you will certainly experience numerous withdrawal issues. Besides, you will be charged abnormal fees. A common scam involves phony high fees, regularly exceeding 20%. Those will often be called withdrawal processing fees.
In the same vein, there are nearly always profit fees. Scammy web pages want you to pay for them in advance.
Correspondingly, there are often unreasonable promises of returns. This one is another favorite fraud method that you should be aware of. Fraudsters will always promise you giant guaranteed returns. Beware that trading with leverage comes with significant risks. Any broker sham will try to persuade you that your returns are guaranteed.
If feasible, use brokers that are regulated and legit. This is the unwritten rule!
Truthfully, we have one goal. We want to prevent as many traders from losing their funds as possible.
Dcmgroup does not have any licenses, and its platform is scarce. Besides, the offshore address on there is bogus. Finally, there are many fusses and negative reviews about this website.
Check all firms carefully. Do this before you conduct any transaction. We hope that this Dcmgroup review was able to help you in any way.
FAQs About Dcmgroup Broker
Is Dcmgroup Regulated?
There’s nothing safe or regulated about this broker scam. You should be mindful of this.
Does Dcmgroup Offer a Demo Account?
This broker does not offer a demo trading account. You will only be able to find a live account.
Is My Money Safe with Dcmgroup?
No. Your money will not be safe with this fraudulent forex broker. Keep this in mind.