Pibexa is a long-lasting trading scam with several regulatory bans. Despite this, they still operate and encourage customers to invest.

Thanks to their offer of what appears to be favorable trading conditions and deposit bonuses, they hook inexperienced investors. Read our detailed Pibexa review to learn how to recognize trade fraud.

Also, we want to invite you to read our recently updated reviews of fraudulent brokers Cryptocycle, Coin Matrix,  and AlphaPrime. Be careful with these brokers.

Are Traders’ Funds Safe With Pibexa?

Pibexa is an offshore brand of Artosolution Ltd, registered in Saint Vincent and the Grenadines in 2019. Ever since, the brokerage has provided its services without regulatory supervision.

Unlike legitimate firms, Pibexa doesn’t offer safety mechanisms, such as negative balance protection and keeping customers’ funds in segregated accounts.

Since the Terms and Conditions imply that issues should be resolved in front of the English courts, we’ve checked Tier1 regulators. Once we searched through the databases of the FCA, ASIC, BaFin, CNMV, and others, we found numerous warnings against the Pibexa scam.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers don’t offer negative balance protection. They don’t keep clients’ funds in reputable banks, and they certainly don’t comply with regulatory regimes regarding trading terms.

All in all, unregulated brokers can vanish anytime. Since they’re offshore and virtually anonymous, legal actions are nearly impossible.

Is Pibexa a Legit Broker or a Scam?

Pibexa is not a legitimate trading brokerage. The firm is registered in Saint Vincent and the Grenadines and has no valid license. It has been blacklisted by several authorities, including the UK FCA and the Spanish CNMV.

Warning Issued By the National Securities Market Commission (CNMV)

The first regulator to issue an official warning was the Spanish CNMV. According to their notice, Pibexa provides unregulated financial services, including Forex trading and financial advising.

The warning was later republished in Italy, Belgium, and Portugal.

Finally, the UK FCA published its own warning, connecting the Pibexa broker to an address in Mexico, suspecting that the scheme was conducted in this country.

What Do Traders Think Of Pibexa?

Pibexa has a total of 74 reviews on Trustpilot, with 73 giving it one star. We will show you just one example.

“Don’t trade with this company. It’s fake, it’s scam. They made calls from fake telephone numbers, they are very kind with you, still you invest. But when came the witdrawal request, everything is changed. No money back, no calls, no emails. I lost 6800 EUR. Try to recovery. So, avoid Pibexa. They are a bunch of thieves.” – Trustpilot Customer

What Platform Does Pibexa Provide?

Pibexa offers only one trading platform, that being a proprietary WebTrader. First, we want to point out that proprietary software can never be safe. The broker can access your trades and funds, manipulate prices and make it seem as if you won or lost a lot.

If you believe what you see, you may be tempted to invest more and risk more.

Pibexa WebTrader

Pibexa WebTrader is advertised as a unique trading solution with all the advanced functions. In reality, it’s a basic TradingView chart with several indicators.

Web-based tools are not as reliable as MetaTrader. With MT4 and MT5, clients have more TAs and more fund security.

Mobile App

In addition to a web platform, Pibexa offers a proprietary mobile app. It’s based on the same software, so it has no advanced features.

Both MetaTrader versions provide dedicated mobile apps with all the advanced functionalities. 

Pibexa Account Type Benefits

Pibexa offers four account types.

1. Silver – 250 EUR, e-book, academy access
2. Gold – 1,000 EUR, dedicated account manager
3. Platinum – 5,000 EUR, trading signals, bonus up to 100%
4. Diamond – 35,000 EUR, debit card for profit withdrawals

As you can tell, each account brings slightly more benefits. Yet, we don’t believe you’ll get any, especially not a dedicated Mastercard for quicker withdrawals.

Pibexa – Countries Of Service

Pibexa trading scam is mainly active in:

• Spain
• UK
• Germany
• Switzerland

For three years, this company has earned a negative reputation in all the countries in which it offered its illicit services.

Please remember the names of the Buffets Finance, Green Capitalz, and Finvis and stay away from them! Before investing, always check the history of online trading organizations!

Pibexa Range of Trading Markets

Customers can invest in two markets:

• Currency pairs – EUR/USD, GBP/AUD, CAD/SEK
• Cryptocurrencies – BTC, USDT, ETH

Other assets are not mentioned, and without a Demo account, we cannot confirm if anything else is available.

What Is Known About Pibexa’s Trading Conditions?

Pibexa broker didn’t disclose much about its trading conditions. We don’t know the leverage or the spread, which are the main trading terms.

Your funds are exposed to risk if you’re offered too high leverage. On the other hand, the spread will impact your trading costs. Legitimate firms have to be transparent about those, not Pibexa.

Trading Bonuses – Ways to Limit Withdrawals

Pibexa offers various bonuses up to 100%. While this may sound good, we can assure you it’s not.

The Bonus Policy indicates that you need to have a minimum trading volume of 30 times the deposit plus the bonus amount before being eligible for a withdrawal. If you try and withdraw your funds before reaching this amount, you’ll have to pay certain penalties.

Pibexa Minimum Deposit and Withdrawal Terms

Pibexa asks its customers for a standard minimum deposit of 250 EUR. This is a typical amount for financial swindlers and sort of their signature.

On the other hand, withdrawals have lots of limitations, including bonuses. The minimum withdrawal amount is $50 and the brokerage has up to 5 days to process the request.

Methods of Making a Deposit

The account can be funded using:

• Debit/credit card
• Wire transfer
• Skrill

The same methods are available for withdrawals as well.

Scammed by Pibexa Broker? – Let Us Hear Your Story

If you find yourself a victim of the Pibexa scam, let us know. Our chargeback experts may be able to assist you with the recovery procedure.

Don’t let scammers run free. Book your free consultation today, and let’s begin!

But What Is A Chargeback?

This is a way for your bank to reverse the transaction and recover your funds. It’s applicable on card transactions up to 540 days. Since we have a time limit, let’s start now!

What Is Pibexa?

Pibexa is an online trading brokerage based offshore without a license.

Is Pibexa a Scam Broker?

Pibexa is a scam broker banned in Spain, the UK, Italy, Portugal, and Belgium.

Is Pibexa Available in the United States or the UK?

The brokerage offers its services in the UK but not in the US.

Does Pibexa Offer a Demo Account?

Pibexa doesn’t offer a Demo account, only four Live types.

Here’s one possible scenario – you’ve been sailing the sea of trading in search of a trustworthy broker. The waves were relentless, the current made change course and you crossed paths with a provider known as Capital Whale. 

It seems like the answer you were looking for but there’s doubt in your mind. On these stranger tides, the Capital Whale Review will be your 1st mate and outline the dangers.

What is more, we strongly advise you not to invest in Gain Trade, Forex Treasures and Fin Art Media fraudulent brokers.

Capital Whale Is an Authorized And Regulated Broker?

The goal of this review is to prevent you from becoming like Captain Ahab and spending your years in bitterness seeking revenge on this Moby Dick of a fraudster. Our first move at the helm will be to check the regulatory status of this shady broker.

Capital Whale says it is based in Cyprus. Accordingly, we checked whether it possesses a license issued by the Cyprus Securities and Exchange Commission (CySEC), the local financial market regulator. There’s nothing on the financial swindler.

Steady, lad. We’re not there yet. What’s this European Financial Security mentioned at the bottom of the website? An obvious trick, that one. It’s fake, fictional! Now we’ve got the wind in our sails on the way to exposing this con artist so let’s fire one final cannonball – Capital Whale has been blacklisted by the Belgium Financial Services and Markets Authority (FSMA)!

Why Is Trading On a Licensed Broker’s Platform Preferable?

If you want transparency, you should rely on regulated and licensed brokers. This one, however, is not one. Trust us, we checked the websites of top-tier regulators like the FCA, ASIC, and BaFin and found nothing. Even the regulator of the fraudster’s alleged homeland of Cyprus has no files on it.

So Is Capital Whale a Decent Broker or a Scam?

Capital Whale is not a regulated broker firm. In fact, the company has been blacklisted in Belgium for providing unlicensed trading services.

Fraud Warning From Belgium’s FSMA

We think that the regulatory status of Capital Whale has been covered. There’s enough evidence indicating that this is a scam. All that’s left is to provide the link to the warning issued by FSMA. This is our final chanty for the financial swindler:

What Platforms Does Capital Whale Offer? – Available Trade Software

Capital Whale claims to offer an “award-winning online trading platform” for trailblazers that would give them the ultimate trading experience. We all know this is not true but let’s take a closer look and explain why.

First of all, a web-based platform cannot hold all the advanced tools necessary for great trading. In most cases, it’s unpolished and cheap-looking. One more thing to point out here is that upon accessing the platform, trading is not available, only making a deposit is. Don’t fall for this cunning trap.

Mobile Trading

Same thing here. It doesn’t matter on which device you access the platform. All versions are susceptible to manipulation and will surely loot your wallet. Capital Whale is just chasing clout.

AnyDesk, Team Viewer and Aeroadmin

We’ve arrived at the core of deception. Although these programs are legit per se, they can be abused by the scammer to gain insight into your personal information. Thus, this will put in jeopardy all the info you have on your PC. Capital Whale will use all means to persuade you to allow access but you must never do it.

Capital Whale – Countries Of Service

From what we’ve gathered, the scam broker targets people from the Netherlands, Belgium, and Sweden. It may have avoided the Flying Dutchman but the Belgium fleet managed to catch it. If you happen to reside in any of these countries, avoid the high seas.

Capital Whale Trade Range of Trading Markets

Capital Whale claims to offer the following trading instruments:

• Forex pairs
• Stocks
• Commodities 
• Crypto
• Indices

As you may have guessed, it’s all fake. The scammer simply listed it all to appear legit. The trading platform will not allow you to trade anything.

What Do We Know About Capital Whale Account Types?

Here we have five account types:

• Bronze – EUR 5,000, leverage 1:20;
• Silver – EUR 25,000, 1:50;
• Gold – EUR 100,000, 1:100;
• Platinum – EUR 250,000, 1:200;
• Whale – EUR 500,000, 1:500.

Insane, right? EUR 5,000 just to start? Capital Whale is way over its head. The unscrupulous broker is more dangerous than we thought.

Also, we recommend you not to invest in the fraudulent brokers Cloxyields, Pibexa and Winvestock.

Negative Balance Protection

Negative balance protection means that even if markets move rapidly against you, your account will not be negative. However, for this to work, you have to first trade. As mentioned, it’s impossible to do so with this phony broker. Therefore, it’s another malicious lie.

Details About Leverage and Spreads

The leverage of 1:20 for the Bronze account is fine. It’s within the regulatory limit of 1:30. Other accounts, not so much. However, it’s irrelevant due to the broker’s unregulated status. Precise spread values were not disclosed.

Minimum Deposit, Withdrawal Terms and Fees

The minimum deposit is EUR 5,000. That’s pretty absurd if you ask us. There’s no legitimate broker that would demand that much from beginners. Fees range from 3.5% to 30%, again, it’s preposterous. The acceptable methods include credit/debit cards, wire transfers, and crypto.

The withdrawal section is made up of confusing clauses that set condition upon condition. In the end, it’s highly unlikely you’ll withdraw anything.

Bonuses – Terms & Conditions

As soon as you see that a broker is offering bonuses, know it’s an outrageous scam. Bonuses are banned by top regulators. Want to know why? Just read this sentence from the T&C that indicates a bottomless pit:

“In order to withdraw funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of (bonus amount + Deposit) x25.” Tough luck withdrawing money.

Scammed by Capital Whale Broker? – Let Us Hear Your Story

During the terrible encounter with this scammer, your wallet was severely damaged. No worries, it might be a long shot but it’s worth a try. Let us tell you about the ways you can get your money back. There’s a chargeback, a recall and crypto tracing.

Chargeback, Recall, Crypto Tracing?

Go to your bank and request a chargeback for card transactions. Do so within 540 days. That’s it. The same goes for wire transfers, provided that the transaction hasn’t gone through. Crypto payments can be traced to a wallet. Only then can you request a refund.

What Is Capital Whale?

Capital Whale claims to be a legit broker operating in Cyprus.

Is Capital Whale a Scam Broker?

Capital Whale is a scam broker since it is anonymous and blacklisted.

Is Capital Whale Available in the United States or the UK?

This broker is available in the United States as well as in the United Kingdom.

Does Capital Whale Offer a Demo Account?

Capital Whale does not offer a demo account on its website.

The company name presented on this broker’s website does appear in a number of regulator registries. However, the license information is always unclear and ambiguous.

Read the remainder of our Prime Quotes review to learn why we don’t recommend trading with this business.

Shady Legal Information

Prime Quotes broker claims to be operating out of Saint Lucia, with an alleged license from FSC Mauritius. Offshore registration and an offshore license definitely don’t instill trust. There is, however, a company called PrimeQuotes Markets, licensed by FSC as of April 2024.

The website also lists an alleged license from FSCA (South Africa). An entity called Primequotes (Pty) Ltd is indeed found in the FSCA register (license number 53226), but without a company website. 

Now, since no domain is listed on the register, there’s no proof that this domain belongs to the exact company. This doubt is further deepened by the fact that there’s also primequotes.com which resembles primequotes.io but we can’t tell for sure if they’re connected.

Regulatory Warnings

Yet another proof that the company we’re reviewing is a totally anonymous business prone to fraud is the multiple warnings against it. The firm has become notorious with prominent EU regulatory bodies. 

FMA warning, which was issued first, clarifies that primequotes.io isn’t licensed to provide financial services in any form. This publication was reposted by several other financial regulators, including FSMA, AFM, IOSCO, FI, CNMV, FINANSTILSYNET and FSC.

Short-Term Lease on the Website

The majority of domain information in the Whois database has been redacted for privacy. What we did manage to find out is that the website was launched in June 2023, with a lease term of 2 years. This brings up another question – who launches a brand hoping that it would fail? Remember, fraudsters like Falcon Group use a number of short-term websites in order to avoid public scrutiny.

The majority of online users come from these particular areas:

• Australia
• Canada
• Germany
• Spain

Troublesome User Ratings

Prime Quotes reviews are not very numerous. Still, looking into the company’s TrustPilot profile, we again see behavior telling of an online scam. Out of the grand total of 14 separate ratings, there are only 1-star and 5-star comments. These are distributed on a nearly 1 to 1 basis, meaning that the firm actually pays for positive reviews to keep their reputation afloat.

Everything we’ve found so far about the company indicates predatory behavior. If you’ve invested any funds with this firm, consider contacting our recovery experts via the live chat.

How The Fraud Functions

The Prime Quotes scam works like many other contemporary online scams. The strategy, much like with PrimesGain, relies on boiler room agents to attract victims. These are basically operators in a fraud call center.

They will call the marks directly and promise huge profits in a relatively short timeframe. If the victims pay them money, agents will make recurrent calls in order to squeeze more money out, making one set of outrageous promises after another.

To help with this idea of legitimacy, the firm also operates social network profiles. These can be found on Facebook, Instagram, YouTube, X and LinkedIn.

Trading Environment is a Hoax

It’s not unusual to see even blacklisted firms offering premium trading platforms like MT4 and MT5. These are the options for the Prime Quotes app that you can choose from once you register for a demo or live account.

The software can be downloaded on any device or accessed via the web. The problem is that this is a non-licensed financial services provider and, what’s worse, blacklisted for scams. While they may promote world-class trading technology, it is practically useless when offered by a fraudulent entity.

Account Types Don’t Offer Much

While many acclaimed Forex dealers offer a wide variety of packages for any user preference, this broker fails to do so. On this platform, you will only find a few account types, and none of them offer anything you can rely on. 

For example, premium features, a dedicated manager, as well as customizable tools are advertised, but these are not specified anywhere. Minimum deposit requirements are quite attractive, however, but you shouldn’t trust the service anyway:

• Standard – $0
• ECN – $0
• VIP – $5,000

Trading Terms

The more you invest, the better trading conditions await you on this trading portal. This primarily stands for spreads, which start at 1.3 pips for the Standard account and go down to 0.9 pips for VIP. The leverage is always the same, regardless of your package, and the maximum ratio is 1:400. There’s allegedly no commission or tax on executing trades, which is beyond suspicious.

While the firm insists on negative balance protection, it still reserves the right to charge a fee to clients who incur debt. A 4% legal fee will be billed unless the debt is covered within 7 days.

Withdrawal Methods are Hidden

The information on financial channels is rather limited. Clients will not know which methods the company accepts for fund transfers until they create a Prime Quotes login account. Only after creation will the deposit methods be listed. These include crypto transfers (USDT, DOGE, LTC), local bank and bank wire transfers, and credit card payments.

To even view the supported payout methods, you’ll have to pass a KYC procedure. While the Terms and Conditions document outlines how withdrawals work, they never list any specific details. This allows the swindlers to improvise and ask for additional funds from the client. Don’t fall for the trap – contact our recovery experts!

Support Via Encrypted Channels

There are several ways you can contact the support office via the web:

• Email
• Online form
• Chat

However, what is actually recommended is that you use some of the specialized chat apps with encryption systems.  These are the communication methods that swindlers usually prefer to manipulate their victims more easily due to privacy measures. We’re, of course, talking about Telegram and WhatsApp.

Scammers Took Your Money? We Can Help!

This online brokerage tries to present itself as a legitimate firm to its customers. Unfortunately, no matter how hard we looked, we couldn’t find a single piece of evidence to corroborate their claims. The presence of so many regulatory warnings, however, tells us that we’re dealing with a trading hoax.

If your Prime Quotes withdrawal request gets inexplicably denied, you can always opt to seek help from our recovery professionals. You may reach us at any time via the live chat, and book your free first consultation.

FAQ

Can I Trust Prime Quotes?

Refrain from investing here as the firm has been blacklisted multiple times and doesn’t have a premium license.

What Is The Minimum Deposit With Prime Quotes?

There is no minimum deposit requirement. However, you should not invest here as you’ll only lose money. If you need support to issue a chargeback, please contact us immediately.

One might think that the website that presents this investment service is not very well done, but there’s a catch. The initial contact with this would-be company is not through their website but through boiler room agents.

Our Ledger-Markets review will shed light on how con artists like these operate and how to get your money back from their clutches!

Unclear Registration Data

2M Financial Group Limited allegedly owns and operates the Ledger-Markets trading platform. The website lists a UK Companies House registration number that belongs to the aforementioned entity. This firm is a well-known financial services provider in the UK and is also properly licensed by the FCA.

As evident from the regulator’s database, the official website for the firm is 2mfinance.com and not ledger-markets.com. The company we’re actually reviewing has nothing to do with the regulated firm. 

Furthermore, not only are they not licensed, but they’ve also been blacklisted by FCA, along with fake office addresses and alleged phone numbers. This warning was reposted by AFM and IOSCO. If you want to trade safely and have access to the compensation plans and negative balance insurance, choose another firm!

Trustpilot Outrage

As soon as you land on the company’s Trustpilot page, you’ll see a warning from the website saying that the company has been displaying the Trustpilot data incorrectly. The firm’s website claims that its user ratings are flawless, but the actual statistics quickly debunk this nonsensical statement. 

As a matter of fact, the majority of the Ledger-Markets reviews are negative. Traders are openly calling them cons and accusing these swindlers of stealing their entire deposits.

Victims All Over Europe

Despite statements about a long-term business and a spotless reputation, statistics show that the website has been operational for less than a year. The total anonymity makes sense when you see that the company has been functioning only since July 2024.

Nonetheless, complaints are coming, and the majority of them are from the following countries:

• United Kingdom
• Germany
• Australia
• France

If you’re worried that fraudsters may be jeopardizing your investment, feel free to contact us via live chat.

Ludicrously Expensive Accounts

One of the issues-turned-features of the website is the defunct account creation form. No matter what information you fill in, you’ll just receive a message that says “invalid.” Invalid because the agents need to open an account for you after they’ve squeezed as much money as possible. Unfortunately, we were unable to create an account for this reason.

The Ledger-Markets account types are a total rip-off,by the way:

• Green – £10,000
• Silver – £50,000
• Gold – £100,000
• VIP – £250,000
• 1 Million Club – £1,000,000

Trading App is a Joke

You’d expect only the best trading environment the industry has to offer after coughing up a million quid. In return, you get step-by-step instructions on how to place a website on the homepage of your mobile phone. This is not an uncommon strategy, as other swindlers like ABN Markets also supply subpar software.

Since we couldn’t get a valid trading account, we were prevented from accessing the client area. From the looks of it, it seems as though there isn’t any sort of trading software available at all.

Up-Front Fee Scheme

In order to learn anything about the service’s cost, you’ll need to consult the Terms and Conditions document. In it, we see the company charges a currency conversion fee of 15%, transaction processing fees of 5%, and an additional broker fee of 20%.

These insanely expensive fees cannot be deducted from the investment account. Instead, they must be paid separately, up front, for anything to happen. This is known as an up-front fee scam.

If you don’t pay the fees in a timely manner, you incur more fees. Additionally, there’s mention of “additional fees of a non-standard nature”, so you get an endless cycle of swindlers pestering you for more money.

Don’t Count On Withdrawals

The supported payment channels allegedly include bank cards, wire transfers and crypto wallet transfers. The average deposit processing time is 7 days + an additional 21 days for the funds to appear on the account balance. Payout processing times are not addressed.

This isn’t even the worst part, as the con artists running the Ledger-Markets blockchain fraud have turned the payout fraud into a labyrinth of deceit. To even consider a payout, clients must pass several verification levels.

Each of these levels is designed to invade the victim’s privacy further, with greater personal documentation requirements. All of these put together are enough to commit a very thorough identity theft. The hapless victim can only keep throwing their money away and sending documents, hoping that eventually, they’ll be able to withdraw non-existent profits.

Help Desk Is Missing

The main platform website has an easy-access live chat button in the lower right corner. However, this is another thing that only looks nice but doesn’t actually work. Clicking on it will instead get you to the contact page, which contains several phone numbers, allegedly of the branch offices.

Now, here’s the clever bit – calling any of these numbers gets you back to the original boiler room that sold you the fraud in the first place. This way, the agents can work you over once more with additional empty promises.

Fraudsters Got Your Money? We Can Help!

One of the main problems new investors encounter when trying to find a business partner is the sheer number of fraudsters. Groups like Inside Invest or the Ledger-Markets scam are ready to pounce at an opportunity to rip you off and will not show any compassion.

While the stolen money may seem lost forever, this is hardly true in most cases. Should you ever need help with getting your funds back from an online con, feel free to contact our experts. You may reach us at any time by using the live chat feature on our site.

FAQ

Which Ledger-Markets Account Types Are Available?

The firm offers several investment account types arranged in a tiered system. These are called Green, Silver, Gold, VIP, and 1 Million Club.

I’ve Been Scammed, What Can I Do Now?

Gather all the information you have about financial transactions and cheaters, and book a free consultation with our recovery experts.

One of the first things you can notice about this exchange is its presentation as the easiest place to buy cryptos. Yet, with its low transparency, we highly doubt it’s the safest place.

In addition to poor transparency, the company offers us suspicious software solutions and has multiple dangerous websites. Find out how easily these features can harm your finances in this unbiased Dqsbit review.

Legal Info: Is Dqsbit Legit Or A Scam?

Without transparent legal details, it’s hardly believable that any firm is legit. But to be honest, if this exchange had top-tier licenses, we could trust them. Some of those are FCA, BaFin, ASIC, CFTC, etc. Of course, they don’t have any. Yet, they present us with some security features that could mislead some traders, such as insurance protection of up to $250k and secure offline storage of cryptos.

To be fair, offline storage might be the case. But that’s not something you want. This way, your cryptos have to be physically traced, and the company has all the keys. Surely, it’s not something you want to do with your crypto. 

On top of that, the company has been running multiple dangerous domains reported for suspicious software downloads and personal information stealing.

Who Are Dqsbit’s Victims?

Since 2023, when this crypto brand started, it has mainly targeted Asian countries, such as Singapore, Indonesia, Myanmar, and Malaysia. But to be fair, nobody’s safe with this fake exchange.

With this in mind, we strongly advise you to avoid downloading any suspicious software from the company’s website and to avoid connecting your crypto wallets with them. If you have already done so, get in touch with our team immediately for refund assistance.

Traders Reviews

Even though there are not many Dqsbit reviews, the ones you can find tell the bitter truth. As can be seen from Reddit comments, this fake exchange is using a wide range of tactics to extort money from traders.

The most common issue is the frozen account the company allegedly presents you with. But of course, to get access back, you have to pay some insanely high fees. Whether you pay them or not, we advise you to reach out to our chargeback team as soon as possible.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that the Dqsbit exchange doesn’t reveal any of its trading-related costs, even though there are spot trading, perpetual, and delivery trading options. Consequently, the company can manipulate any costs it wants. But even if their fees were transparent, could they be trusted? 

Find out more about another example that we covered in the FX Paramount review.

Bonuses

Surprisingly, the Dqsbit crypto exchange offers a bonus of up to $100. Apparently, it’s to explore all other crypto assets. In reality, they’ll be navigating you to trade what they want.

Dqsbit Trading Features

With the dangerous Dqsbit app, traders shouldn’t trust any of the company’s offers. In any case, the key features are vault protection and recurring buys. But also a wide range of crypto pairs trading options.

Trading Platforms Available

Even though the company advertises Windows and MacOS desktop apps, these are not available for download. 

Instead, traders will have to satisfy themselves with poorly designed web traders. With only a few trading options available, it can’t be compared to top-tier crypto trading apps.

Available Trading Assets

With only a bit over 100 cryptocurrency pairs available, it’s hard to say this company has a good offer. Especially when you know top-tier licensed exchanges with over 1000 assets in the pool. 

In any case, some of the most popular options are: 

• BTC
• ETH
• ETC
• XTZ

Account Types

Before you complete the Dqsbit login procedure, you won’t know what to expect from the company. They’ll surely try to persuade you into higher deposits. 

However, the minimum requirements and all account type options are not disclosed publicly, so be prepared for surprises.

Mobile Trading App

A similar situation as with desktop apps can be seen with a mobile app as well. However, the mobile app truly exists, but not in trusted stores. Instead, you have to download the file from this highly suspicious website. Not the smartest move to be fair.

Demo Account

With some regular trading options available, a demo account in the Dqsbit trade offer would be a good option. Yet, it’s not available. Instead, you’ll have to risk your money first. 

But if you read our PlutusLegacyTrust review, you will find out that’s not the best way around it.

Education

Of course, the company can’t offer you proper education if they want to continue scamming inexperienced traders. After traders learn how the crypto world works, they start backing out very quickly. Therefore, it’s not even surprising to see this firm not offering any educational material.

Dqsbit Withdrawal

If the Dqsbit scam company wanted to provide withdrawals, they would be licensed in the first place. On top of that, the company doesn’t have a transparent withdrawal policy, methods, fees, or processing time. You must wonder if there’s a single reason to believe you will get a withdrawal. Literally, there’s not.

Customer Support

Another important issue is a lack of transparent contact options. Or at least the ones that are not hidden behind the keyboard. Instead, you can reach this firm only via live chat and e-mail. 

But if you will get any response at all, it mostly depends on your request. If you want your money back, you may forget about their assistance.

Key Information To Consider About Dqsbit

Firstly, the company has been using dangerous and unsafe websites. Secondly, it is misleading traders about its apps, fees, and features. Lastly, it is not licensed for its services. So, the only outcome you can expect is to get scammed.

Luckily, you can do something about it as well. The key tool in such a scenario is the CipherTrace. To find out how it can benefit you in recovering your money, get in touch with our specialists today.

FAQ Section

What is Dqsbit?

Dqsbit is a crypto exchange presenting itself as a trusted New York-based company that has been around since 2023.

Is Dqsbit Legit?

Not at all. With zero transparency and numerous negative comments about them, it’s clear you won’t have a good time with this exchange.

What is CipherTrace?

CipherTrace helps experts track and follow crypto transfers to help traders recover their stolen crypto. For detailed guidance, feel free to contact our team.

The group of people that run this business entity is completely unknown. There is no information about any company that might be behind the service, or even a Terms and Conditions document.

There’s one thing we do know when it comes to these anonymous businesses, and it’s that you shouldn’t trust them with your money! Find out why so many people complain about this service in our Ordinals Wallet review.

 Unknown Ownership Structure

Whoever runs the ordinalswallet.com website and the service hosted on it went the extra mile to remain anonymous. At the time of writing this Ordinals Wallet review, there exists only speculation and no conclusive data.

Conducting any business through an unknown intermediary is a recipe for disaster. Since there is no corporate information, no address, and no phone number, nobody is there to take responsibility if something goes horribly wrong. This lack of transparency is quite common with various tricksters like BitStorage, for example. Needless to say, we cannot recommend dealing with this service.

Blacklisted For Illegal Conduct

The platform itself is conceptualized in such a way as to carefully slither between various kinds of services to best avoid regulation. Unfortunately, crypto legislation is not so easily circumvented. The website provides a non-custodial hot wallet for Bitcoin Ordinals, something that is not yet regulated. Still, adjacent services, like the sale and purchase of crypto assets, are heavily regulated.

The site features a seamless integration with a crypto sales website, which makes it act as an intermediary. As such, they should be licensed, but the FCA investor warning clearly tells us that this is not the case.

This warning, combined with the fact that the owners are basically unknown, is strong evidence that the Ordinals Wallet crypto platform is a scam.

Users Are Outraged

The ordinalswallet.com domain has not been around for very long, having been created in February 2023. Users are mostly people from these nations:

• United Kingdom
• Spain
• France
• Germany

Although the website traffic is quite high, there are only a very small number of Ordinals Wallet reviews around. Nearly all the reviews are negative, mind you. Looking at the TrustPilot page, it’s 100% 1-star ratings, while over at Reddit the users are openly calling the platform a scam.

How The Scheme Proliferates

Ordinals Wallet scam has gained a cult following, mostly thanks to its viral advertising on social media. Much of this comes from the platform’s official X page, where the concept of Ordinals is purposely heralded as “the future of internet-based media.” Sprinkle in some fake screenshots of people talking about earning thousands overnight for an airdropped Ordinal that Mooned, and you got yourself a mass of young adults suddenly forgetting all about the NFT market crash.

These followers still need a Satoshi to inscribe their Ordinals into, so you need a way to sell Bitcoin. Enter Moonpay, a notoriously shady crypto onboarding service. The circle is now complete, and the fraudsters go to work.

Software Overview

Service features are split between several embedded website functions and a separate API. Website operations include connecting a personal Bitcoin wallet, inscribing an Ordinal into a Satoshi, and speculative trading through a basic WebTrader called “Market.”

The WebTrader itself is best described as horribly unstable. It draws charts with a history no longer than 5 days, crashes every minute or so, and sometimes even lets users browse Ordinals or place buy/sell orders.

The purpose of the API is to track, fetch, update and otherwise manage Ordinals on the blockchain and within the user’s connected wallet. The API is currently available for acquisition via a GitHub repository.

Nobody Talks About the Pricing

It’s time to get serious because we’re about to talk about hard cash. The company, if you can call it that, doesn’t outline any service costs. That means no information about fees, commissions, or other charges.

The only information available is from the affiliated BTC onboarding company we mentioned earlier. It charges an ecosystem fee of ~2.70% and a MoonPay fee of ~1%. Still, this is not related to Ordinals Wallet Bitcoin Ordinals inscription and trading fees. Remember, hidden fees and unclear pricing are a staple of online con schemes like PitRex.

Convoluted Withdrawal Procedure

Dealing with cryptocurrencies is difficult enough for a newcomer, but dealing with a specialized asset like Ordinals is even more so. It’s not too big of a stretch to imagine a novice crypto investor getting lost in a sea of wallets, APIs, community websites, and exchanges.

The only thing simple about this service is the creation of an Ordinals Wallet login. The rest is pretty much guesswork, as there is very little technical documentation to go around. You won’t even find a manual!

This, combined with all of the issues we discussed earlier in our article, creates a breeding ground for various tricksters. Assets may be sent to the wrong address. Clients may receive Satoshis that don’t contain what they’ve bargained for, or the platform operators themselves may decide to appropriate an asset altogether.

Got Your Cryptos Stolen? We Can Help!

Even with modern regulatory standards in place, there will always be dangerous groups that try to take advantage of investors. Cryptos, being an asset that exists only in the digital world, is seen as a perfect target for unscrupulous people.

Chasing down lost or malicious transactions is a difficult ordeal, but with the proper tools and training it is possible. Our expert team has all of the knowledge and experience to help you recover the stolen coins. We have provided you with a live chat which you may use at any time to book a free consultation with our team.

FAQ

Is Ordinals Wallet a Safe Crypto Environment?

No, as there is no information about the service ownership structure. The company, if it exists in the first place, is not a licensed entity and is not to be trusted.

I’ve Lost Cryptos On a Scam, What Now?

Recovery of crypto assets is a difficult task best left to professionals. Feel free to contact our team via the live chat on our site and book a free consultation with a recovery expert.

We cannot let a shady provider such as APM Capital get by with a poor offer and lack of transparency. Thus, in the APM Capital Review, we shall expose the scam behind the bogus website. Yup, you read that right, this right here is nothing but an outrageous plot to defraud traders. Prepare for the truth in the following sections.

As well, stay away from the trading scams Decode Global, TigersFM, and Caplita! Furthermore, before investing, always investigate the history of internet trading firms!

The Truth About APM Capital’s Regulation

Firstly, the con artist claimed to be operated by APM Capital Limited, based in the United Arab Emirates (UAE). Moreover, APM Capital mentioned a certain regulator – the fraudster said it was regulated by the FSRA, which is actually the ADGM from Abu Dhabi. 

APM took us for fools. Although this company is registered in the database of the ADGM, this does not mean much to us since known for being a “free zone,” i. e. an offshore jurisdiction. Essentially, the laws there are favorable towards those who wish to evade strict rules.

Furthermore, we went a step further and checked the register of the UAE Central Bank and found no entity named APM Capital Limited there.

Why Is Trading On a Licensed Broker’s Platform Preferable?

Given all the facts, APM Capital is actually an offshore provider that does not have to adhere to regulations that made the financial market function smoothly. Plus, without being registered with the central bank, the security of clients’ funds is uncertain.

If you want a legitimate and honest broker, make sure that the entity possesses a license from top-tier regulators such as the UK’s FCA, German BaFin, or the Dubai Financial Services Authority (DFSA).

So Is APM Capital a Decent Broker or a Scam?

APM Capital is allegedly a financial market provider based in the United Arab Emirates. The cyber fraudster targets traders from that country, as well as from Denmark and the United Kingdom.

APM Capital Offers MetaTrader 5? – Online Trading Platform

We agree with APM Capital – Meta Trader 5 is arguably the best trading platform in the world. As such, its name is a perfect bait for unsuspecting victims. Without an official license, we have no guarantee that the software we’re getting is actually legit and not hacked or stolen. Scammers like APM typically provide suspicious download files that could contain malware.

Therefore, we strongly advise you to avoid dealing with this financial swindler because there are numerous reliable brokers that also offer MT5.

ARK Trading

APM Capital allegedly offers the ARK platform, which was “designed, and developed with the latest technologies in the I.T. industry.” At least that’s what the illicit broker says. For traders, it may seem attractive, but for APM, it’s just a means to an end, i. e. a tool to defraud people. We wouldn’t trust APM at all on this.         

Trading On The Mobile App

Mobile phone trading? It has a few benefits, namely, flexibility and trading on the go. However, when it comes to real experience, it’s ineffective compared to desktop trading. Those are the words of multiple traders from the forums. Considering that APM is unregulated, it makes matters even worse. 

Web Trading

And last but not least, the unscrupulous broker included WebTrader. As you may know, this browser-based platform is pretty lackluster and rudimental. But, it can easily be obtained, which is why scammers prefer it. 

Thus, it’s the most likely platform available out of all the others mentioned here. At the same time, it is also the easiest to manipulate.

What Сan Be Traded?

When it comes to trading assets, APM listed a few. However, the phony broker was pretty vague about the whole thing. No instruments were specified because the website is misleading and full of broken links. Therefore, this is just another hoax meant to lure traders into this vile scheme.

• Forex pairs;
• Indices;
• Commodities;
• Equities;
• ETFs.

​​What’s more, we strongly recommend that you avoid the fraudulent brokers Fin Art Media, DotBig, and Zetano.

APM Capital – Countries Of Service

Since APM Capital operates as an offshore provider in the UAE, it mainly targets traders from that country. With a shady regulation, we get why some might buy into the lies of this broker. In addition to the UAE, we found out that APM has set its sight on unsuspecting victims from the UK and Denmark. So, be mindful to avoid dealing with this cunning trickster.

What Do We Know About APM Capital Account Types?

APM Capital offers no account types. All we found were the live account and the demo account. Without the necessary information, we were left in the dark when it came to trading conditions such as leverage, spreads, commissions and the minimum deposit. Can you imagine that? Nevertheless, we didn’t expect much from the offshore scammer.

Can a Trader Open a Free Demo Account?

Technically, no. There is a demo account option on the website but the link is broken. It simply takes you back to the home page. Why was it even put there in the first place, we don’t know. Perhaps to make it seem legit. Oh well, the reg flags just keep on piling.

About Leverage, Spreads and Fees

Come on, APM Capital. Was it really that hard to devote some time to write about key trading aspects? How do you expect traders to trust you when you omitted your leverage, spreads and commissions? Such a lack of transparency is really troublesome. Hence, you’d be wise not to invest.

Minimum Deposit and Withdrawal Terms

Alas, the minimum deposit is a mystery. This should not come as a surprise now. With all the vagueness stemming from the shady website, we think it’s pretty clear how bad this scam really is. Payment options, fees, processing time, it’s all missing.

That can only mean one thing – APM Capital wants to get really close to potential victims and then agree upon the payment details. What the poor traders don’t know is that APM will undoubtedly embezzle all the deposited funds as soon as it gets them. Afterwards, the broker will retreat back to the shadows.

Scammed by APM Capital Broker? – Let Us Hear Your Story

If you’ve been scammed by the terrible APM Capital, it sucks. We got to admit, this is a pretty cunning plot. Regardless, since we don’t know what the payment options are, were are going to rely on previous experience and list the refund actions for the three most popular payment methods – credit/debit cards, wire transfers and crypto.

A Chargeback?

• For credit/debit cards, you can request a chargeback.
• A chargeback is a process of reversing card transactions. It can be requested at the issuing bank within 540 days.
• Wire transfers require a recall to be reversed. However, if the transaction is done, the recall will be impossible.
• Crypto transactions can be traced to a wallet within an exchange. Then, you can request a refund from the exchange.

If the broker stole your money, please contact us for assistance!

What Is APM Capital?

APM Capital is an offshore broker based in the United Arab Emirates that intends to defraud traders.

Is APM Capital a Scam Broker?

APM Capital is a scam broker because it’s non-transparent, shady and not regulated by a credible authority.

Is APM Capital Available in the US or the UK?

APM Capital is available to traders from the United Kingdom but not to those from the United States.

Does APM Capital Offer a Demo Account?

APM Capital claims to offer a demo account but the link on the website is not working.

When it comes to online trading, there is one big question – could the broker scam you? The best answer to that is the 10TradeFx regulation. If the broker is regulated, the chances are lower. However, you should gather all the information and make your decision. So, let’s start.

• Regulation and Security
• In which countries does this broker work?
• Is it possible to make money with an 10TradeFX?
• Scammed by 10TradeFX?
• But what is a chargeback?

Regulation and Security

10TradeFX broker is owned by Holiway Investments Ltd. The broker has an entity in Nicosia, Cyprus, and the other one in Seychelles. CySEC and FSA regulate the company. The same company owns another trading brand MiltonPrime.

When it comes to security of the funds, according to its website, the company is holding the funds in the tier-1 EU banks. Which banks? We can’t tell.

In which countries does this broker work?

According to its CySEC regulation, the company can provide financial services within the EEA zone. As a registered CIF, the broker can also offer services in third countries if it complies with their trading regime. In this case, 10TradeFX can provide services in Singapore and Vietnam. All the other areas are under the entity regulated in Seychelles. 

The important thing to mention is that the company does not provide services to residents of the US.

Is it possible to make money with 10TradeFX?

10TradeFx broker is offering its clients trading on the MT4 platform. The assets broker is offering are various – currency pairs, commodities, indicies, stocks, and cryptocurrencies.

The minimum deposit with the broker is $200.

When it comes to making money, it mostly depends on your trading skills. However, withdrawing that money is another story. If you wish to make withdrawals, you might experience issues, especially if the broker has an offshore regulation. Those regulations are not as firm as top-tier such as FCA or ASIC.

According to our review, it is possible to make money with 10TradeFX. Yet, some clients experienced issues with withdrawals. The broker is delaying, giving many excuses, and not approving withdrawal requests. The question is what to do when such a thing happens.

Scammed by 10TradeFX?

If you were scammed by 10TradeFx broker, do not hesitate to ask for help. You are not the only victim of a scam, and there is a possibility to get your money back. You need to file a dispute and ask for a chargeback.

But what is a chargeback?

A chargeback is a way to refund your card if you were a victim of an online scam. Contact our support immediately and let’s get your money back!

Is 10TradeFX a good broker?

10TradeFX is a broker regulated by FSA and CySEC. The broker has an offshore entity in Seychelles that is always risky to trade with.

Is 10TradeFX a Scam?

10TradeFX broker is regulated by FSA and CySEC. However, some clients experienced issues with funds withdrawals.

Is 10TradeFX regulated?

Yes, the broker is regulated by CySEC and FSA Seychelles.

Where is 10TradeFX broker based?

The broker has two entities – in Cyprus and Seychelles.

There are those miscreants that think that if their company HQ is far enough from the continental mainland, they can get away with their activities scoff free. There are many lies about this fraudulent company.

In our Review, we will show you how SafeCaps pretend to be another, licensed company. This has prompted one of the most important regulators, the UK FCA, to issue a scam warning about this lot.

Is SafeCaps a Regulated Broker or Not?

First and foremost – SafeCaps claim to be owned by Aegion Group Ltd, a company that is allegedly based in St. Vincent and the Grenadines. We can confidently say that this is false information, as the SVG’s main regulator, FSA, has no information about this company.

Even if the company was legally registered in SVG, it isn’t necessarily regulated. SVG is a small island nation, and the FSA has ceased regulating brokers recently because of the lack of resources. For this reason, many offshore brokers have since obtained a trading license from another regulatory body.

This leads us to another big problem with this broker. SafeCaps lie about their company credentials, pretending to be another, licensed entity. In legal terms, this is what we call a Clone Company. It wasn’t long before one of the more prominent regulators, the FCA from the UK, caught wind of this and issued a scam warning.

The FCA regulation in the UK requires at least 730 000£ in starting capital. There is a similar condition in the EU, where this initial capital can be no less than 730 000€. The conditions are similar in Canada and Australia, where this starting fund must be larger than 1 000 000 CA$ or AU$ respectively.

Further risk mitigation lies in leverage restriction. For the UK, Australia and the EU, this is 1:30. Canada allows for a greater leverage of 1:50. Either way, this is a far cry from the 1:500 leverage that SafeCaps offer to their clients. Bonuses are forbidden in all these jurisdictions, except Canada. European brokers also need to conform to MiFID and ESMA guidelines to obtain a license.

If scamming was an art, SafeCaps would be cheap rip-offs. Their website is poorly made and lacking, but some people were still caught on the idea of low trading costs. See the remainder of our Review to learn why you should stay away from SafeCaps.

Before we reached a conclusion, we needed to be certain SafeCaps is indeed a fraud. For this purpose we have searched the databases of FCA, BaFIN, CySEC, CONSOB, New SRO, ASIC and more… And what we found was not a license number, but a number of scam warnings!

Warning Issued by Financial Authorities

SafeCaps is a known scam company. Their fraudulent behavior has caught the attention of many financial regulators.

You may see the warnings in more detail by following these links:

• FCA

• CONSOB

• AFM

• CSA

SafeCaps Software – The Trading Platform is Missing

It is not unusual for the fraud brokers to offer a trading platform to their victims. This way they can continue the charade, and let these poor people believe in the fairy tale. The most common software scammers use is the Web Trader, as you’ve seen in our XpressTrade Review.

This is not the case with SafeCaps. Their entire website is poorly made, and their trading platform is non-existent at the time of writing of this review. There are no download links, and no pointers that would direct you toward the online trader. Needless to say, this is not how a legitimate broker functions. With authorized companies, you can expect high quality industry leading software like MT4, MT5 and cTrader.

SafeCaps Advertise Many Trading Tools

SafeCaps brag about a large number of trading tools and aides. When we tried to see what all the fuss was about, we found a couple of web pages that have plain text on them, with some general pointers about trading strategies.

It was nothing groundbreaking, just simple beginner tips even the most novice trader knows about. There is a very simple pricing calculator, that just multiplies the numbers, depending on the parameters you entered. The most important tool for any trader – the Demo Account, is absent from this broker.

SafeCaps’s Trading Assets and Instruments

SafeCaps mention a rather good variety of instruments for their trading platform. As you’ve already noticed earlier in our Review, they do not offer a functional platform. This leads us to another question – how are you supposed to trade these assets in the first place?

Nevertheless, the trading instruments are worth mentioning, so we’ve made a list:

• Forex – EUR/USD, AUD/CAD, CHF/JPY, EUR/GBP
• Cryptocurrencies – Bitcoin, Ethereum, Polkadot, DogeCoin
• Stocks – Tesla, Meta, Amazon, Microsoft
• Indices – Nasdaq 100, Dow 30, DAX, Nikkei 225
• Commodities – Crude Oil, Natural Gas, Gold, Platinum, Coffee

Where do SafeCaps Victims Live

In order to pinpoint where the SafeCaps scam is most active, we have measured the traffic to and from their website.

Here we can see where the majority of victims live:

• France
• Germany
• United Kingdom
• Canada

From this, we can deduce that this scam is oriented towards wealthy nations. It is not strange that scammers should target these countries, as their citizens have good salaries with large disposable incomes.

What Are The Different SafeCaps Account Types?

SafeCaps seems to offer a variety of trading accounts. This is not really the case, as the only difference between them is the minimum deposit, and varying leverage. As we already mentioned, there is no Demo.

Here is a list of different accounts on offer:

• Standard – €5 000; 1:40 – 1:100 leverage
• Premium – €25 000; 1:200 – 1:300 leverage
• Business – €100 000; up to 1:500 leverage

The extremely high leverage reminds us of another scam, GSL Markets, which we reviewed previously.

Can a Trader Use a Demo Account?

You should not take the absence of a Demo account lightly. This is a very important tool for everybody, novice and professional alike. Where novices would use a demo for training, seasoned traders can test new strategies in a risk-free environment.

By omitting a demo account, the scammers put their clients at greater risk. Without it, the only way you can test the trading environment is by speculating with real money!

SafeCaps Partnership

Many faux brokers implement affiliate programs. It unfortunately goes hand in hand with a fraudulent company. Over the years, many scams like pyramid schemes have used the idea of a close friend recruitment to attract more victims.

This behavior is more common than you think. Thankfully, this is not the case with SafeCaps, as their scheme is not as developed, and they do not offer a partnership program.

Terms and Conditions With SafeCaps

You should always carefully read the Terms and Conditions with any broker, even the fine print. The document you will find at SafeCaps is vague, and often contradicts itself. If you manage to find it, that is, because of how well it is hidden. It says, among other things, that the broker withholds the right to deny a payout, and freeze or terminate an account “[…] for any reason or for no reason. […]”.

Leverage, Spreads and Fees

Now, we’ve already told you that SafeCaps do not adhere to international regulation when it comes to leverage. The leverage of 1:500 is quite high, and unnecessarily exposes the trader to the market.

If that wasn’t bad enough, high-end accounts have larger fees and looser spreads, which is simply contralogical. These start at 0.1 Pips and no commission for Standard, and go up to 1.5 Pips and €4 for 1.o Lots! Talk about pricey!

There are other problems, unfortunately. You may expect withdrawal fees ranging from $50 to $250 fee on different payout methods. A dormant fee of unreasonable 10% per month is charged from inactive accounts after 6 months!

What Should I Do If I Have an Issue With SafeCaps?

First of all, don’t panic. Your assets are not completely lost, there are ways to recover them. Our professional team is on hand to help you resolve your payout issues. If you, or somebody you know have fallen for SafeCaps Scam, you should consider contacting us for legal advice and support.

The more information we gather on these miscreants, the better our chances at presenting the case to the authorities. Don’t delay – your chances grow slimmer as time passes! Contact our staff as soon as possible via Live Chat for the fastest response time!

What Is SafeCaps ?

SafeCaps is a front for an unscrupulous online scam. These people pretend to offer broker services, but are just fancy thieves!

Is SafeCaps a Scam Broker ?

Yes, SafeCaps is a scam company which has been blacklisted by multiple financial authorities!

Is SafeCaps Available in the United States or UK ?

The SafeCaps scam does operate in the UK, but does not accept US clients.

Does SafeCaps Offer a Demo Account ?

There is no Demo Account available with the SafeCaps broker. Only live accounts are available

Is Dukasbance a legit trading platform or a fraudulent cyber scam? That is what our Dukasbance Review aims to answer. Our goal is also to provide an explanation as to why this financial swindler cannot be trusted.

The Dukasbance website has been taken down, probably due to the intervention of the Swiss financial market regulator FINMA but that does not mean this scammer will not reappear. Read our review and arm yourself with the knowledge of spotting online trading scams!

Legal Info: Dukasbance – Legit or Scam?

Dukasbance claims to be a legit Swiss-based brokerage. Switzerland is known for boasting top-tier regulations and financial market laws, among the best in the world. The regulator that ensures that all trading and transactions go smoothly is called the Swiss Financial Market Supervisory Authority (FINMA).

As a Tier 1 jurisdiction, all Swiss-based brokers must be registered and regulated by FINMA in order to operate legally and provide services all across Europe. We checked FINMA’s database for this dubious broker and found only a warning against Dukasbance.

Case closed! Dukasbance is not only unregulated but also blacklisted as a fraudulent entity that is not reliable. Please stay away from illicit brokers such as Dukasbance and swiss-trade. Instead, find a trustworthy provider that is licensed by reputable authorities such as FINMA, the FCA (UK), CFTC (US), CySEC (Cyprus), ASIC (Australia), IIROC (Canada), etc.

Trading with a regulated broker grants you numerous benefits depending on the jurisdiction. For instance, you may receive negative balance protection, segregated funds in an esteemed bank, or even a compensation scheme in case of the company’s insolvency (i.g. up to 20,000 EUR).  

How Do Traders Fall Into the Dukasbance Trap?

According to godaddy.com/whois, the Dukasbance website domain was created on January 31, 2023. Since then, the scam broker has mainly been targeting unsuspecting traders from the following countries:

• Canada;
• Netherlands;
• Lithuania.

Needless to say, this scammer is not authorized to provide services in these domains. FINMA was clear and you should heed that warning.

Based on what we read in other Dukasbance reviews, this broker tends to get aggressive when demanding traders to pay more and more money. They use a fake TradingView account and create and illusion of growing profits.

Once the traders see these numbers, they can the impression that Dukasbance is a legit profit-making machine and thus fall directly into the phony broker’s trap. Avoid investing in this shady platform. If you need help recovering your funds, contact us as soon as possible! 

How Do Traders Rate This Broker?

We hopped over to sitejabber.com and found several Dukasbance reviews there. There are some pretty serious complaints against the broker from traders that got scammed. Some complaints perfectly explain how the Dukasbance Scam works such as the one we posted below. 

This complaint came a few days before FINMA issued a warning against Dukasbance. Please heed this warning and do not trade on this manipulated platform!

Dukasbance is a FAKE trading brokerage company. They take your money, put it in a fake Tradinview account that they let you see, money grows pretty quickly. Then they ask you to invest more, if you don’t then they pressure you,, they let you take out a small amount. If you still don’t invest more, they cut you off. You can get in touch with them: they will not answer your call , not reply to your email: your money is gone, you’ll never see your money again. They are Scammers! Save your money,

• Sitejabber user, June 14, 2023.

Which Trading Platform Is Available at Dukasbance

Dukasbance offers just a web-based platform like most illicit brokers. This is the most elementary trading terminal and the easiest one to obtain.

However, WebTrader is an oversimplified and ineffective trading platform that offers just some basic charts, graphs and indicators. It lacks advanced tools such as automated trading, live market reports, branch optimization, etc.

To make matters worse, the broker shows clients a fake TradingView account and profits. Dukasbance does not support valid third-party trading software such as MT4, MT5, cTrader, or SiriX.

Available Markets

The Dukasbance fraudulent platform features the classic selection of trading assets and instruments:

• Forex currency pairs – EUR/USD, AUD/CAD…
• Indices – S&P 500, NADSAQ 100…
• Commodities – corn, oil, gold…
• Stocks – Apple, Tesla, Microsoft…
• Crypto – BTC, ETH, USDT…

The maximum available leverage is 1:200 for CFD trading and 1:400 for Forex currency pairs. Note that these levels are not compliant with the regulations in force in Switzerland; the legal cap for retail clients is 1:30.

Extremely high leverage is a double-edged sword that could lead to big wins but more often than not leads to devastating losses, hence the regulatory limit. 

As for the spreads, Dukasbance promises a competitive fee of 0.2 pips for FX major pairs. The broker also charges 0.1% to 0.5% for CFD and stock trading. The fees are favorable but that does not change the fact that Dukasbance is unregulated and thus dangerous just like bitkan.  

What is Dukasbance Minimum Deposit?

The minimum deposit that Dukasbance accepts is 250 $. This is pretty much what most brokers charge as the initial amount. However, the complaints stress that Dukasbance keeps pushing for more and more money.

Since the con artist does not offer a risk-free demo account, you cannot test out the platform until you deposit real money, which is risky considering Dukasbance’s illicit status and the warning from FINMA.

The broker will aggressively try to squeeze as much money from the trader as possible in order to embezzle all of it. Withdrawal issues are inevitable with Dukasbance. If you lost money to this scam, book a consultation with us and we will go through your case.

How Can I Withdrawal from Dukasbance?

Our sources suggest that Dukasbance accepts payments via various funding methods. Here is the list we were able to figure out:

• Credit/debit cards;
• Wire transfers;
• E-wallets (Skrill, Neteller);
• Crypto.

While not all of these methods may be true, we know for certain that credit/debit cards are the broker’s primary payment method. The good thing about this is that you can request a chargeback at your bank within 540 days of the transaction and recover your funds. For crypto payments, you’re going to need our assistance since the whole process is complex.

Dukasbance – Typical Trading Platform Scam

We have pretty much explained why Dukasbance is not a trustworthy platform. This scammer’s website was active for about five months until FINMA issued a warning against it and shut down the monkey business.

If you are a victim of the Dukasbance scam, be sure to contact our team and start your chargeback procedure. If need be, our experts can trace your crypto transaction using CipherTrace but you first have to tell us how you got scammed.

Book your free consultation today and start the fund recovery process!

FAQ Section

What Does Dukasbance Offer?

Dukasbance offers numerous trading assets such as FX pairs, CFDs and cryptocurrencies on a web-based platform.

Is Dukasbance Safe?

No. This broker claims to operate in Switzerland but the Swiss FINMA issued a warning against Dukasbance.

How To Get Your Money Back From Dukasbance?

Chargeback, CipherTrace, etc. If you need help recovering your funds from Dukasbance, you can book a free consultation with us.