Deuxstock Review – Is this a Scam Broker?

Deuxstock Review

Online brokers are a dime a dozen these days, but a look at just a handful of them is enough to confuse anyone. Almost every platform you come across is promising you the trading experience you want, but they are not going to offer you similar services.

While a few shortcomings are to be expected, you still want to opt for a genuine company. The problem is that there are scammers rampant in the markets and this Deuxstock review shows just how they go about trying to conceal their reality.

You do not want to end up with a brokerage that will eventually defraud you. It can be devastating to find out that you have been played and your money is lost to a scam. But, not everyone understands how to identify fraudulent companies from legitimate ones.

First and foremost, you should bear in mind that relying on anything a company is telling you is a mistake. You cannot expect a business to share its own flaws with potential clients. They are going to do their level best to conceal them from you, so it is your job to be thorough and figure out the truth.

This means that you should go through the broker’s offerings, but also verify them to ensure they are exactly what they claim. It will save you from a big headache later on because you will be able to choose a brokerage that offers everything you need in one place.

Switching platforms can be a big hassle and you want to avoid it at all costs. Verifying their claims beforehand can help you in making the best decision for your needs and also enable you to steer clear of scammers that are looking for an opportunity to exploit you.

It will certainly pay off in the case of this Deuxstock review, which is boasting forex and CFD trading services to those interested in the financial markets. They have made some big claims that you need to verify in order to ensure you are not dealing with a scam. Ready to do so? Let’s get started:

Licensing and regulation

Signing up with a brokerage without checking their licensing and regulation would be a massive mistake. The protection and quality that you can expect from these companies cannot be provided by their unlicensed and unregulated counterparts.

This is because they are required to comply with stringent regulations and laws and keep up with high standards of service. Having a license adds credibility to the brokerage and also reassures you about the safety of your funds. As for the license itself, it depends on where the company is based.

In the case of Deuxstock, you will find out that the brokerage claims to be owned and operated by a company named Deuxstock.com Finance LLP, which is based in the United States and operating in accordance with the country’s laws.

This would be impressive to anyone, as the US markets are some of the well-regulated markets in the world and have strict regulations and laws. The regulatory bodies in the country are known to be very dedicated to ensuring the safety of retail traders.

But, you have to remember that you cannot just take Deuxstock’s word about its status because it is easy for anyone to do so over the internet.

You need to verify that they are really licensed and regulated in the US, which means you need to check the online registers of the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), which oversee the markets in the country.

Unfortunately, a check of their register shows that Deuxstock is clearly not registered in the US and neither is the company it mentioned. In fact, it is even breaking the rules of the regulatory bodies applicable to leverage, which means it cannot be trusted as it is clearly not a legitimate platform.

Trading software

The trading software that an online brokerage provide is one of its most important offerings because you have to use it for most of your trading activities. Therefore, it needs to have the right features and tools to deliver a smooth trading experience.

The problem is that Deuxstock is offering a weak trading software that does not even come close to the ones that most genuine brokerages will provide to you.

It is lacking in a number of ways and you will not be able to perform most of the basic functions either, which shows that Deuxstock is really not interested in catering to its clients. Its primary goal is to just get people to sign up and deposit, so it can claim the money.

Trading conditions

Everyone engages in online trading to make a profit and the amount of profit depends on the trading conditions a broker can provide to you. You will find that Deuxstock is absolutely terrible in this regard because it does not offer good trading conditions at all.

The leverage you are provided is 1:100, which it should not be offering in the first place, given that it claims to be following the laws of the US.

The regulatory bodies in the US have capped leverage ratios at 1:50, but Deuxstock is clearly going against the rules. Secondly, the spreads it is charging are extremely high. You have to a whopping $700 for spreads on crypto assets, which is excessive.

Payment methods

Another indication that you are not dealing with a legitimate brokerage is the fact that Deuxstock is only offering support for crypto assets for payment purposes. Deposits can only be made in the form of crypto, which means there is absolutely no hope of filing for a chargeback later in case of a problem and getting your money back.

Crypto payments are irreversible and they are also anonymous, which is exactly what scammers are looking for because they want to be able to steal your money easily.

The Answer

Given that Deuxstock is lying about where it is based, is unlicensed, extremely expensive and does not support safe payment options, it can be safely assumed that it is indeed a scam brokerage.