DBG Markets Limited is a broker website suspected of fraud. Its official website, dbgmarkentskinlted.com, was registered on July 27, 2024. The broker claims to offer trading services in Forex, precious metals, crude oil, indices, and cryptocurrencies. It does not provide services in jurisdictions where doing so may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to the public information on dbgmarkentskinlted.com, the entity is DBG Markets Limited, using DBG Markets as its trade name, headquartered in London, UK. The broker also claims that its subsidiary is regulated by the Financial Crimes Enforcement Network (FinCEN) and registered with the National Futures Association (NFA) in the United States, undergoing strict audits and regulations.
However, the "About Us" page on their official website states that the company was established in 2002 and headquartered in Canada, which introduces discrepancies. Moreover, the broker does not provide a company registration number or corresponding regulatory license number on the website, nor does it offer detailed terms of service or legal documents.
Upon verification, there is no registration information for a company named DBG Markets Limited on the official websites of FinCEN and the NFA. Furthermore, there is suspicion that this broker's name and logo may be plagiarized from DBG Markets, deliberately misleading investors.
Therefore, dbgmarkentskinlted.com is essentially a fraudulent broker website without a legitimate company or regulatory oversight.
Offered Trading Instruments
dbgmarkentskinlted.com offers trading in various financial derivatives, including Forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: The Forex market is the largest financial market in the world by trading volume. Traders profit by buying and selling currency pairs from different countries (e.g., EUR/USD, GBP/JPY). The Forex market is highly volatile, influenced by global economic conditions, political events, and monetary policies.
- Precious Metals: Precious metals, including gold, silver, and platinum, are often considered safe-haven assets. Investors tend to buy precious metals for value preservation, especially during economic instability. The precious metals market is greatly influenced by supply-demand dynamics, global economic conditions, and inflation.
- Crude Oil: The crude oil market is a crucial part of the global economy. Investors speculate or hedge against energy price fluctuations by trading crude oil futures or spot contracts. Crude oil prices are affected by supply-demand relationships, geopolitical situations, and policies of international organizations like OPEC.
- Indices: Indices reflect the performance of a group of stocks in the market, such as the S&P 500 or the Dow Jones Industrial Average. By trading indices, investors can indirectly invest in the performance of an entire market or specific sector without investing in individual company stocks.
- Cryptocurrencies: Cryptocurrencies are digital assets based on blockchain technology, like Bitcoin and Ethereum. Known for their high volatility, cryptocurrencies are influenced by market supply and demand, technological developments, regulations, and investor sentiment. The cryptocurrency market is relatively new, with high risks and potential high returns.
Account Opening Process
The steps to open an account with DBG Markets Limited are as follows:
- Visit dbgmarkentskinlted.com.
- Click the "Register" button in the top right corner of the webpage to access the registration page.
- Fill in basic information such as name, email address, phone number, and country/region, and set a login password.
- Upload identification documents and both sides of your bank card, complete, and submit the application form.
After successful registration, the account can be activated.
Trading Account Information
dbgmarkentskinlted.com only discloses basic information such as spreads, trading leverage, and contract sizes. However, detailed information on account types, trading commissions, minimum/maximum trade sizes, maximum position/order sizes, margin call/stop-out levels, and minimum price increments is not provided.
- Base Currency: USD
- Spread: Floating, from a minimum of 1 pip
- Leverage: 1:100 - 1:500
- Margin Call/Stop-Out Levels: 100%/50%
- Contract Size: 1 lot = 100,000 units of currency
Trading Platform and Deposits/Withdrawals
dbgmarkentskinlted.com claims to provide the MT5 trading platform. However, the PC download link on their website is not a genuine MT5 download link, and the broker cannot be found on the MT5 platform either.
Additionally, the broker does not clearly state the supported deposit and withdrawal methods, associated fees, or minimum deposit/withdrawal amounts on their website.
Conclusion
Traderknows advises investors that DBG Markets Limited (dbgmarkentskinlted.com) is a suspicious broker website lacking a legitimate company and regulatory oversight. The contact information on the site is also very limited, only allowing contact via email.
Investors are recommended to choose brokers with transparent information, strict regulation, and good reputations for investment trading to avoid unnecessary financial losses.
