Dbfxtrades is a forex broker that is located in the Vanuatu. In the review below, we take an in-depth look at the features Dbfxtrades.com allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about DB Forex trades.
Table of Contents
DBFX Trades Trading Platform
Dbfxtrades.com looks hurried, poorly designed and is the last thing from being professional. After going through it, we discovered that this broker supports the MT4 and the MT5 trading platform. They use these platform to offer assets such as Forex (with leverages up to 1:400) CFDs, Indices, Stocks, and Precious metals
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DBFXTrades Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has
DBFX Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
According to the website, the transaction methods are Credit / Debit Cards, Bank Transfer, Pay R, SafetyPay, PayPal. Skrill, Neteller, PaysafeCard, Vload, and JetonJeton.
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is DBFXTrades Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
The sales page of DBFX Trades Broker claims Dbfxtrades.com site is operated and owned by DBFX Limited, and is located at 1276 Kumul Hwy, Port Vila, Vanuatu. It also claims that it is a licensed secured dealer, incorporated under registered number 40133 by VFSC. And that It is subsidiary of Belight Capital Group Ltd which is a Cypriot investment firm.
Checking out this claim one after the other, the claim to be registered under the Vanuatu board is true. However we cannot ignore the fact that Vanuatu is an offshore destination that attracts shady brokers.
On the second claim, we discovered Belight Capital Group, which is indeed on the Cyprus Securities and Exchange Commissions (CySec) has been suspended.
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Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with Dbfxtrades.com as they don’t give any information concerning if they are a regulated broker.
DB Forex trades is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.