DG Flex Review: The Truth About This Scam Broker
Claiming to offer an easy start, no hidden fees, and advanced trading tools, DG Flex broker seems like a place to be.
However, once you dig a bit underneath the surface, you’ll understand that, despite its legitimate appearance, this broker is unregulated and not worth your time or money.
DGflex is portrayed as a market-leading broker offering trading in forex, crypto, and stocks, but you shouldn’t fall for it since it’s a scam that has been exposed by the British authorities.
And in this DG Flex broker review we will clever all the lies this investment scam has said and done.
|Broker Status:||Unregulated scam broker|
|Blacklisted as a Scam by:||FCA, OSC, AMF|
|Broker Owner:||SP ZOO SEPUR|
|Online Trading Platforms:||WebTrader|
|Crypto Asset Trading:||Yes (BTC, XRP, USDT)|
|CFD Trading Option:||Yes|
|Available Trading Instruments:||Forex, stocks, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
DG Flex License and Regulation
DG Flex is an unregulated financial fraud. The brand is owned by SP ZOO SEPUR, allegedly originating from Poland. However, as an EU member, Poland strictly supervises the financial markets, including Forex.
We’ve checked the register of the local regulator, KNF, searching for DG Flex regulation. As you can guess, our search yielded no results. Furthermore, the company would be obligated to stick to the ESMA leverage limit if registered in the EU. The leverage cannot exceed 1:30 for FX and 1:2 for crypto trading. And yet, DG Flex offers up to 1:400.
DG Flex is a clone firm of an FCA-regulated broker. The company has been banned in the UK and Canada for illicit activities.
DG Flex Trading Software Overview
As expected from a scam firm, the DG Flex trading platform is rather lousy. The company only offers WebTrader with built-in news and several indicators. You can choose among five chart types, see trading history, and open pending orders.
Sadly, this software is not remotely close to MT4, MT5, or cTrader. With a third-party platform, you get increased fund safety and fewer possibilities for market manipulation. Additionally, you can get advanced features such as EAs, social trading, and autochartist.
Available Account Types at DG Flex
When it comes to the trading account types, DG Flex offers five different ones that include the following ones:
- Bronze $10,000
- Silver $50,000
- Gold $100,000
- Platinum $250,000
- VIP $1,000,000
You cannot trade for free. DG Flex Demo account is unavailable, and you’re left to pay the money first.
Considering this brokerage house asks for a minimum deposit of $10,000, we see it as a final straw. You should not invest as much with any broker, even legitimate ones, before testing out withdrawals. That’s why most firms offer Micro accounts, requiring $10 or even $0.
Deposit and Withdrawal Methods
The minimum deposit is said to be $10 000, which is more than usual. Most brokers accept clients for $100 on average, while some will readily offer their services for as little as $5. However, when we tried the deposit system, it turned out that clients can deposit just $250.
The deposit methods we were offered include the following ones:
- Visa or Master credit or debit card
- Wire transfers
As for withdrawals, it’s generally worthless discussing these provisions in this very case, but the broker also fails to specify much about it.
We’ll only pay attention to the malicious bonus policy, which significantly worsens all withdrawal conditions. Namely, clients should trade the bonus plus the deposit 25 times to become eligible for withdrawals.
How Do Offshore Brokers’ Scam Implement?
People sometimes become careless and leave personal information on the internet, and once these investment scams get a hold of them the harassment will likely start.
You will soon be overwhelmed with an enormous number of calls and even emails just so you will at least make a minimum deposit to this fraudulent broker. Be prepared to hear many made-up stories so they would appear more legit in your eyes.
Don’t feel ashamed if you have ever fallen victim to this type of deception, many people do, just be sure to report your scammer. We also encourage you to reach out to us as we can help you.
DG Flex Summary
In this DG Flex review, we tried to warn you against this alleged Poland-based broker that is operating without a license and following no regulations.
They are offering their customers an opportunity to invest in forex, CFD and crypto, but the only thing you will likely get to see is a cheap website with no basic info. Additionally, this scam broker has been blacklisted by FCA, OSC and AMF.
Think twice before taking any risks while investing money and never trust a broker that seeks $10,000 as an initial deposit. Especially when legit firms ask for as little as $5.
Be careful and remember that doing proper research is a necessary step if you are new to the world of trading as many phony brokers pop up overnight.
FAQs About DG Flex Broker
Is My Money Safe with DG Flex?
Your money is not safe while working with this broker as they are just a lousy scam.
How Long Do DG Flex Withdrawals Take?
Their withdrawals should take 1-3 business days, but in reality it’s much longer than this.
Does DG Flex offer a Demo Account?
No, DG Flex does not offer a demo account for any potential new clients.