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The WikiFX Score of this broker is reduced because of too many complaints!

DACLAND

China|2-5 years|
Suspicious Regulatory License|White label MT5|Chinese market only|High potential risk|

https://daclandfex.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
DaclandCapital-Server MT5
Server Location Hong Kong

Contact

info@daclandfex.com
https://daclandfex.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

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Company Name

DACLAND CAPITAL LIMITED

Company Abbreviation

DACLAND

Platform registered country and region

China

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-16
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 25 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Unable to Withdraw

The Restriction on withdrawal was raised after reports were made

Their trading operation may come off as professional but all they do is mislead innocent investors leaving us to run around reporting the situation to Fintrack/ org and regulatory bodies in an attempt to get back our investment from Dacland Capital who i believe sold my data to others considering that i was getting calls from scammers every other day. They even let me withdraw once to build up the lie but wouldn't let me get anything else out of the investment.

2022-05-11 07:23
Unable to Withdraw

DACLAND Capital Limited refused to withdraw money

I have deposited money into my friend's account in DACLAND Capital Limited (www.daclandindexq.com) and traded on MT5. At first, we can withdraw the money without having any issue. However, after we have made more than USD35 million through that exchange, they refused to withdraw the money for us and asked us to deposit additional USD15 million as an income tax to be paid to Japan Tax Authority. We have consulted with Japanese law firm and understand that the income tax must be deducted from the total amount of USD35 million. We have asked for support from Tokyo Stock Exchange and the police authority but no authority helped us. We have read many news and understand that this broker does the same with other customers and froze their account in order not to withdraw the money for the client. We need help on how to solve it as it is a huge amount and this broker is swallowing our money.

2022-05-20 12:30
Scam

fraud

dacland capital is limited to cheat, blood emicidir.b days they kept me full two years have opened multiple dacland capital websites they're using women to their networks are presenting women of various promises of marriage, false signal information they receive after such wealth as we receive confidential information from inside my aunt, my uncle will trick for you with a lie you can not undo I'll post here when I get once you deposit the police complain I'll write you immediately complained to the police after they leave the money anywhere until I receive my money my money

2022-05-27 17:48
Unable to Withdraw

Unable to withdraw money, a deposit of 50% of the account balance will be charged for withdrawal

On May 18, 2022, the Weibo user "Star of the Galaxy Series" claimed to be Du Dengyu, and the QQ account found me through a private message to exchange stock knowledge. And after a period of communication, he guided me to the website to open an account (www.dacfx.com), a trader DACLAND, to buy and sell gold. I didn't believe it at first, but he sent screenshots of transactions every day, introduced the foreign exchange system, and pulled me into the Weibo group "The Book's Own Gold House 666" to communicate. I gradually believe that the first deposit of 3,000 yuan on June 7, 2022, and the second deposit of 3,000 yuan on June 9, 2022, totaling 6,000 yuan. The transaction method on this website is RMB to USD. By transferring the account given by the other party to exchange the corresponding US dollars to their own account, but this account is false. After the deposit, he sent me a message on Weibo every day to take me to make an order. After a few days, he introduced me to the international situation and asked me to increase the position. At 14:00 on June 20th, I always felt that something was wrong and tried to transfer the money. Contact customer service to reply that you need to pay 50% of the account amount as a deposit. Reply to other users for free the first time before that. Requested for withdrawal three times and failed three times. I asked a friend on Weibo for consultation. When the other party heard that I was going to transfer money, I became angry and kicked me out of the group chat. At 18:00, I consulted the customer service again and found that I could not chat, and the account was already cancelled when I logged in again. Hope to get my principal back!

2022-06-23 08:53

    DACLAND · Company Summary

    Aspect Information
    Registered Country/Area China
    Founded Year 2019
    Company Name DACLAND
    Regulation Unregulated
    Minimum Deposit 1$
    Maximum Leverage Up to 1:800 for Forex, energies, indices, and currencies; 1:200 for metals and CFDs
    Spreads Competitive, starting from 0.0 pips
    Trading Platforms MetaTrader 5 (MT5)
    Tradable Assets Over 50 trading assets, including Forex, stocks, indices, energies, and metals
    Account Types Real Accounts and Demo Accounts
    Demo Account Available for practice and testing
    Islamic Account Information not provided
    Customer Support Limited support via email (info@daclandfex.com)
    Payment Methods Domestic and international bank transfers, BPAY, Skrill, savings card payments
    Educational Tools Information suggests limited educational resources
    Website Status Reports of website issues, potentially down and labeled as a scam
    Reputation (Scam or Not) Reports of website being labeled as a scam raise concerns about its credibility. The unregulated status also poses risks for investors.

    Overview

    DACLAND, an unregulated broker based in China and established in 2019, presents a concerning picture for potential investors. The company's unregulated status is a significant red flag, leaving investors without the safeguards provided by regulatory oversight. The reports of website issues, potentially being down and labeled as a scam, further erode confidence in its reliability. Limited customer support via email and a lack of comprehensive educational resources add to the list of drawbacks. While DACLAND offers competitive spreads, a wide range of tradable assets, and access to the MetaTrader 5 platform, the overall negative aspects cast doubt on its suitability as a trading platform. Caution and thorough research are imperative when considering DACLAND due to its reputation and regulatory status.

    Overview

    Regulation

    DACLAND appears to be an unregulated broker, which means it may not be subject to the oversight and regulations that govern legitimate financial institutions. This lack of regulation can pose significant risks to investors, as there may be no recourse in the event of disputes or fraudulent activities. It's essential to exercise caution and conduct thorough research before engaging with unregulated brokers, as they may not provide the same level of investor protection as regulated entities. Consider seeking advice from a financial advisor and only invest with reputable, regulated brokers to mitigate potential risks.

    Regulation

    Pros and Cons

    Pros Cons
    • Diverse Range of Trading Assets
    • Lack of Regulation
    • Competitive Spreads
    • Limited Customer Support
    • Range of Leverage Options
    • Limited Educational Resources
    • Fast Withdrawals
    • Reports of Website Issues

    DACLAND presents a mix of advantages and drawbacks for potential traders. On the positive side, it offers a diverse range of trading assets, competitive spreads, and a variety of leverage options. Fast withdrawal processing is another benefit. However, its unregulated status raises significant concerns about investor protection. Additionally, the limited customer support options, lack of educational resources, and reports of website issues may deter some traders from considering DACLAND as their preferred broker. It's crucial for traders to carefully weigh these pros and cons when evaluating whether DACLAND aligns with their trading needs and risk tolerance.

    Market Instruments

    DACLAND offers a diverse range of over 50 trading assets, encompassing various financial instruments and markets. These assets include:

    Forex: DACLAND provides access to a wide array of currency pairs, allowing traders to engage in the foreign exchange market. This enables them to speculate on the price movements of major, minor, and exotic currency pairs.

    Market Instruments

    Stocks: Traders can invest in individual company stocks through DACLAND, gaining exposure to a range of publicly traded companies from different industries and regions.

    Indices: DACLAND offers the opportunity to trade on major stock market indices, such as the S&P 500, NASDAQ, or FTSE 100. This allows investors to speculate on the overall performance of stock markets.

    Energy: The broker offers energy-related trading assets, which may include commodities like crude oil, natural gas, or even renewable energy products, allowing traders to capitalize on fluctuations in energy markets.

    Metals: DACLAND provides access to precious and industrial metals like gold, silver, platinum, copper, and others. Trading in metals can serve as a hedge against economic uncertainties or as a means of diversifying one's portfolio.

    This diverse selection of trading assets enables traders to diversify their investment portfolios and potentially capitalize on opportunities across various financial markets. However, it's crucial for traders to thoroughly research and understand each asset class's unique characteristics and risks before engaging in trading activities. Additionally, investors should consider their financial goals and risk tolerance when selecting assets to trade.

    Account Types

    DACLAND offers two main types of accounts to cater to the needs of different traders: real accounts and demo accounts.

    1. Real Account:

      1. A real account, also known as a live account, is designed for traders who wish to engage in actual financial transactions with real money.

      2. To open a real account with DACLAND, traders typically need to go through a verification process that may include providing personal identification documents and financial information.

      3. Once the account is funded with real money, traders can use it to execute real trades in various financial markets, including Forex, stocks, indices, commodities, and more.

      4. Profits and losses in a real account directly impact the trader's financial standing, and withdrawals of funds earned through trading are possible.

    2. Demo Account:

      1. A demo account, on the other hand, is a simulated trading environment provided by DACLAND that allows traders to practice and test their trading strategies without risking real money.

      2. Demo accounts are typically funded with virtual or simulated money, and they closely mimic real market conditions, including live price feeds.

      3. Traders can use demo accounts to familiarize themselves with the trading platform, experiment with different trading strategies, and gain experience in a risk-free setting.

      4. Unlike real accounts, profits and losses in a demo account do not have any financial consequences, as the funds are not real. Demo accounts are primarily for educational and training purposes.

      5. Traders can switch between real and demo accounts on DACLAND's platform, allowing them to practice and refine their strategies before transitioning to live trading.

    In summary, a real account is for actual trading with real money, while a demo account serves as a risk-free practice environment. Both types of accounts can be valuable tools for traders, with real accounts offering the opportunity for profit and loss, while demo accounts are ideal for learning and honing trading skills. Traders often use demo accounts as a stepping stone before transitioning to real trading to improve their chances of success in the financial markets.

    Leverage

    DACLAND offers a range of leverage options to its clients, depending on the type of trading assets they wish to engage with. The leverage ratios provided by DACLAND are as follows:

    1. Metals and CFDs: For trading in metals and Contracts for Difference (CFDs), DACLAND offers a maximum leverage of 1:200. This means that for every $1 in the trader's account, they can control a position size equivalent to $200 in the market.

    2. Forex: When trading in the Forex market, DACLAND provides a maximum leverage of up to 1:800. This level of leverage allows traders to control a more substantial position size compared to the amount of capital they have in their account. For example, with a 1:800 leverage, a trader could control a position worth $80,000 with just $100 in their account.

    3. Energies: Similarly, for trading in energy commodities like crude oil or natural gas, DACLAND offers a maximum leverage of up to 1:800, enabling traders to amplify their exposure to energy markets.

    4. Indices: The maximum leverage for trading stock market indices is also up to 1:800, allowing traders to potentially magnify their position sizes in these markets.

    5. Currencies: DACLAND offers a maximum leverage of up to 1:800 for trading currency pairs in the Forex market. This high leverage can be attractive to traders seeking to capitalize on small price movements in exchange rates.

    While high leverage can amplify potential profits, it also significantly increases the level of risk. Traders should exercise caution and have a solid risk management strategy in place when using high leverage, as it can lead to substantial losses if the market moves against their positions. Additionally, regulatory authorities in some regions may impose limits on leverage to protect retail traders, so it's essential to be aware of and comply with local regulations.

    Spreads and Commissions

    DACLAND offers competitive spreads starting from 0.0 pips, meaning there is no additional cost above the market price. The broker does not explicitly mention commissions, suggesting it may follow a commission-free pricing model. In such cases, the broker's income typically comes from slight markups embedded in the spreads. Traders should review DACLAND's terms and conditions for a complete understanding of its pricing structure, and consider other factors like execution speed and customer support when choosing a trading platform. Keep in mind that trading conditions may change over time, so staying informed is crucial.

    Deposit & Withdrawal

    DACLAND offers multiple convenient options for depositing funds into trading accounts, including:

    1. Domestic Bank Transfers: Traders can fund their DACLAND accounts through domestic bank transfers, allowing for direct transfers from their bank accounts within the same country. This method is suitable for traders who prefer using local banking services.

    2. International Bank Transfers: For traders outside the country, DACLAND also accepts international bank transfers. This enables clients to transfer funds from their foreign bank accounts to their DACLAND trading accounts. It's essential to consider potential currency conversion and transfer fees when using this method.

    3. BPAY: BPAY is a popular payment method in some regions, such as Australia. DACLAND accepts BPAY payments, providing a convenient way for traders in these areas to deposit funds.

    4. Skrill: Skrill is an e-wallet service widely used for online transactions. DACLAND accepts Skrill payments, allowing traders to make quick and secure deposits from their Skrill accounts.

    5. Savings Card Payments: DACLAND also supports payments through savings cards, which could refer to prepaid cards or debit cards linked to a savings account. This method provides flexibility for traders who prefer using cards to fund their accounts.

    Regarding withdrawals, DACLAND strives to ensure prompt processing:

    • Withdrawals typically arrive within 1-3 working days, which suggests that clients can expect relatively fast access to their funds after initiating a withdrawal request.

    • For wire transfer methods, both deposits and withdrawals generally take slightly longer, typically within 3-5 working days. This is because international wire transfers often involve intermediary banks and international clearance processes, which can add some time to the transaction.

    Traders should be aware that processing times for withdrawals may vary depending on factors such as the withdrawal method chosen, the trader's location, and any additional verification or security measures that may be required. It's advisable for traders to review DACLAND's specific withdrawal policies and fees to ensure a clear understanding of the process and associated costs.

    Trading Platforms

    DACLAND offers its clients access to the global financial markets through the MetaTrader 5 (MT5) platform. MT5 is a widely recognized and highly regarded trading platform known for its advanced features and capabilities. Traders using MT5 on DACLAND can access a wide range of financial instruments, including Forex, stocks, indices, commodities, and more. The platform provides a user-friendly interface, advanced charting tools, technical indicators, and automated trading capabilities through expert advisors (EAs). Additionally, MT5 offers real-time market data and news updates, helping traders make informed decisions. Overall, DACLAND's utilization of the MetaTrader 5 platform provides a robust and versatile trading environment for its clients to engage in various markets and trading strategies.

    Customer Support

    DACLAND's customer support options appear to be limited, with clients being instructed to email inquiries to info@daclandfex.com. However, the lack of more immediate and direct communication channels like live chat or phone support could potentially result in slower response times and less convenient assistance for clients seeking timely answers to their questions or concerns. It's crucial for traders to consider the availability and responsiveness of customer support when evaluating a broker's overall service quality, as quick and effective support can be essential in the fast-paced world of online trading.

    Educational Resources

    DACLAND's provided information suggests that it may not offer comprehensive educational resources for its clients. The absence of educational materials, such as tutorials, webinars, or educational articles, could be a limitation for traders who rely on such resources to enhance their knowledge and skills in financial markets. Traders, especially those new to trading, may want to consider this factor when choosing a broker, as access to educational content can be valuable for improving trading proficiency and making informed investment decisions.

    Summary

    DACLAND appears to be an unregulated broker, which raises concerns about investor protection and accountability. The lack of regulatory oversight can pose significant risks for traders. Additionally, DACLAND's limited customer support options, absence of comprehensive educational resources, and reports of its website being down and labeled as a scam are all red flags for potential clients. It is essential for traders to exercise extreme caution and consider reputable, regulated alternatives when choosing a broker to ensure the safety of their investments and access to essential support services.

    FAQs

    Q1: Is DACLAND a regulated broker?

    A1: No, DACLAND appears to be an unregulated broker, which means it may not be subject to regulatory oversight.

    Q2: What is the maximum leverage DACLAND offers?

    A2: DACLAND provides leverage of up to 1:800 for Forex, energies, indices, and currencies, while metals and CFDs offer a maximum leverage of 1:200.

    Q3: How long does it take for withdrawals to process at DACLAND?

    A3: Withdrawals at DACLAND typically arrive within 1-3 working days. For wire transfers, it may take 3-5 working days.

    Q4: What trading platform does DACLAND offer?

    A4: DACLAND offers the MetaTrader 5 (MT5) platform, known for its advanced features and access to various financial instruments.

    Q5: Does DACLAND provide educational resources for traders?

    A5: DACLAND's information suggests limited educational resources, potentially lacking tutorials, webinars, or educational articles. Traders seeking educational support may need to consider alternative sources.

    Risk Warning

    Investors are reminded that the prices of securities and investments can go up as well as down, and past performance may not be indicative of future performance. Before making any investment decision, investors should fully understand the risks and the characteristics and consequences of relevant laws, taxes, and accounting, and decide whether the investment meets the individual's investment objectives and whether they can bear the relevant risks according to their circumstances. Should seek appropriate professional advice.

    News

    One Name, Different Websites: Beware of Dacland’s Rigged Game!

    NewsOne Name, Different Websites: Beware of Dacland’s Rigged Game!

    2022-06-15 16:57

    It has come to the attention of WikiFX that some forex brokers have been acting maliciously by taking advantage of their trading clients. In this article, we will be exposing the entire process of how a forex broker named Dacland schemed one of its clients from India via solid proof provided by the victim.

    WikiFX
    2022-06-15 16:57
    News
    One Name, Different Websites: Beware of Dacland’s Rigged Game!

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    xukrat
    more than one year
    Investing in DACLAND is the most regrettable thing I have done in 2022! I concentrated on trading after depositing, and I was very happy after making a profit, but I couldn't withdraw my money!
    2023-02-24 10:48
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