DLCForex Review – Is it a Trustworthy Broker?

DLCForex Review

The financial markets have always been touted as a world of countless opportunities for making money. There are some prominent success stories of people making huge returns from one financial market, or the other and this can undoubtedly tempt you to try your luck as well. Thanks to the internet and advancement, it has become a lot easier to do so with online trading. You just have to choose a brokerage and sign up with them to begin the process. The problem most people face is in selecting the broker because not all of them are what they seem. This DLCForex review is the perfect example.

If you do some diligence, you will learn quickly that scam operators are quite rampant in the online trading space and one of their favored tactics is portraying themselves as brokers. Since setting up a website and adding content has become a breeze these days, they are able to do so without having to make any such investments and it provides them the perfect opportunity to hoodwink people and steal their money and also their data. There are lots of stories of people who have been entrapped in this way and if you don’t play it smart, you could also end up in the same way.

So, what should you do? This means that you have to be careful in choosing a brokerage. You have to resist the temptation of signing up with one solely because you are impressed with their claims. After all, it is how scammers catch your attention and entice you to register with them. Instead of believing everything you read, you need to prioritize verifying everything to keep yourself safe from the risk of scam brokerages. It may seem like a hassle, but it can help you choose a brokerage that can truly help you in achieving your financial goals.

At first glance, you will find DLCForex to be just the kind of brokerage you want, as it claims to be one of the world’s fastest-growing companies that has its clients spread across numerous regions, including Europe, Africa, South America and more. But, as mentioned above, fact-checking is a must and doing so shows you the other side of the picture. Want to know more? Check the details below:

An anonymous brokerage

First things first, you need to check the company background of a broker before making any commitment because you will entrust them with the huge responsibility of protecting your data and your money. Therefore, you should be aware of exactly who you are depending on and this can be done by looking at their background. Trying to do so with DLCForex proves to be difficult because they offer very limited company information on their website.

This is not the norm with legitimate and genuine brokerages because they are usually transparent about their background because they want to reassure their customers and have nothing to hide. The fact that DLCForex is not doing so should already put you on your guard. The only information the brokerage provides is a company name and claims to be regulated and licensed by the Australian Securities and Investment Commission (ASIC).

The problem is that the license that DLCForex has uploaded on its website is of a different company altogether. It is DACLAND CAPITAL LIMITED, which is not connected to the brokerage at all. Essentially, this means that DLCForex is using the tactic of a ‘clone firm’, which involves using the licensing details of a genuine company to make yourself credible. This is quite common amongst scam brokers and is illegal of course, which indicates that DLCForex is not authentic at all.

Apart from that, you will not find a contact number on the DLCForex website and they have not provided a physical address either, which means there is no way for you to check their regulatory status, other than their false claim.

Terms and Conditions

Before you sign up with any brokerage, you would want to know their Terms and Conditions. You have to agree with these before opening an account and they usually include the policies you will be expected to comply with and the different fees and charges you will have to deal with when using their services. Hence, checking them is a must, but when you try doing so with DLCForex, you will discover that they don’t appear to have them at all.

You can check the entire DLCForex website and not find any kind of legal documentation, whether it is a Client Agreement, or Terms and Conditions. Of course, they will still require you to accept them when signing up, which means you have to do this blindly, giving the scammers room to exploit you in any way possible and you not being able to take any action.

Trading Platform

The key feature that an online broker offers to its clients is their trading platform; this is the software connecting you to markets, used for execution and provides the tools needed for trading. The fact that DLCForex is offering the best trading platform in the market i.e. the MT5 is indeed something to notice. It will definitely inspire interest and confidence, until you check the download link they have provided.

When you do so, you will come to know that DLCForex offers you a generic version of the MetaTrader 5 (MT5). This platform is not related to any brokerage and this is definitely a worry because no authentic brokerage does that.

Registration

Another issue that traders encounter when they try registering with DLCForex is the approval process they have to face. You cannot register right away with the brokerage and this a concern because it does not allow you to check the other offerings of the company before opening an account.

Conclusion

The fact that you are dealing with a clone firm that does not have a license of its own shows that DLCForex is not worth your time and is not a trustworthy broker because it cannot offer you any of the protections that a genuine broker does.