Abstract：DtpFx Ltd is a forex scam warned by FCA recently. However, it hasn't stopped its steps to scamming after being warned.
The fraudster lures investors by offering bonuses and extremely high leverage. It is necessary for every forex trader to know the true face of this company.
Offering bonuses is a common method for forex brokers to attract customers. Same in DtpFx Ltd, the scammer offers $100 for everyone who signs up with it. Some adventurous investors may not consider the $100 bonus an attractive offer. But if the $100 is traded through the leverage it provides, the trading volume should not be underestimated.
According to its web page, customers have many choices on the account type, or we can say package. Although the leverage available for different accounts is not the same, the lowest leverage is up to 1:300, already risky, and the highest leverage can even up to 1:5000.
Such high and risky leverage is really rare to see in a regulated platform.
Though the scammer claimed to be regulated, we could not find specific regulatory information on its website. To prevent misunderstandings, we asked customer services about its regulation through live chat.
At first, no staff showed up to answer our inquiry. Then we asked about its bonuses and the staff came to answer us. After repeating the question about bonuses and regulations, customer service started to talk about the $100 bonus but ignore the latter question.
After we were done talking about bonuses, the staff started to ask us questions. However, since we did not get the regulatory information, we repeated the question about regulation for the third time.
At this time, the staff did not avoid the question and gave a license number, saying that was its license number in the UK. However, we checked the FCA register and found no matching results - the number is fake.
Asked customer service to no avail, we started to search the website of forex regulators according to the address it presents.
Surprisingly, FCA just issued a warning against the company a few days ago, warning that DtpFx Ltd was providing financial services or products in the UK without authorization.
In summary, DtpFx Ltd is a scam.
It has been about three weeks since the Transnet employees took a strike against their employers in an attempt to sway the industry giant to raise the salaries of workers. The unions represent the employees and Transnet have not been able to reach a resolution to the issue thus far which has been costly to the South African economy as well as to Transnet.
One of the biggest risks faced being scammed by a broker. Forex broker often scam their clients legally, so there is little that can be done about it. WikiFX is a forex broker inquiry app. It allows traders to review brokers before using them. WikiFX is decreasing the number of scams by providing traders ith adequate information about their broker.
Prevention is better than cure, this is why it is important to download the WikiFX app. WikiFX is a forex broker inquiry app, which allows traders to verify and review brokers before they use them. WikiFX is preventing scams in the forex market, just like this one.
Black Friday (November 25, 2022) is almost here, so sellers are getting ready for customers looking for real bargains. Some forex brokers also take Black Friday as a good opportunity for marketing.