DaxMarkets – Scam or Legit Broker? Review Uncovers The Real Truth

Our busy lives have forced us to depend more on portable devices, the same has motivated the binary options brokers to offer their services across smartphones in addition to the websites. Daxmarkets is one of these Forex Brokers that are offering mobile apps as well…

DaxMarkets Broker Website Screenshot

Daxmarkets, a b-book broker facilitates traders with live trading accounts, whistles, and bells. But the problem is that the website doesn’t offer reliable crucial updates about the market conditions, it doesn’t display the spreads nor does it display the minimum trade size.

On the whole, Daxmarkets is a convincing platform if it really is transparent and legitimate. This is why we’ve decided to review this broker. Is it regulated? Are there any Daxmarkets scam complaints? What’s the withdrawal policy? Is the broker regulated? Let’s find out!

DaxMarkets Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: Surprisingly despite many regulatory warnings, DaxMarkets is actually still live & allowing new traders to sign up – but we do NOT recommend signing up to DaxMarkets as we believe the whole operation is nothing but a scam. There are many, many DaxMarket withdrawal complaints which is never a good sign. If you have already lost money to DaxMarkets keep reading to see how you can get it back.

Quick Navigation

We have conducted an in-depth investigation into DaxMarkets and so as a result this review is likely to become quite lengthy… However to make things easier for you we’ve put together some quick navigation links below. You can use these links to jump straight to the specific information that you came here looking for.

 

DaxMarkets Background

Daxmarkets website claims that the platform is owned and operated by Oasis Capital Ltd. (Munich). It is important to mention that we could not access the website of late. It might have been another case of an escaped scam artist.

When we tried to search something about Oasis Capital Ltd. we were amazed to see that there are multiple companies with the same name. They are mostly operating in the United States and the UK, however, none of them is operating from Germany.

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Upon checking the BaFin (German Regulatory Authority) list of registered financial services, we failed to find Daxmarkets or Oasis Capital Ltd.

Is DaxMarkets Regulated?

Daxmarkets is NOT regulated. So we are perhaps dealing with another disappointing platform. We didn’t even find any warning against the platform. It is because the website just entered the market and disappeared without reaching its ultimate goal. Or the scammer just decided to vanish quickly by taking whatever the traders had in their accounts.

DaxMarkets Complaints

We found an interesting story and we want to narrate it for our visitors. A trader signed up with Daxmarkets and deposited the initial minimum $250. He was then advised by the broker’s representative to invest $3974 before a great opportunity walks away. The trader says that he borrowed the money and invested as suggested.

He also says that the rep showed him some infographics which led him to trust on the reps suggestions. He was still convinced that he could pay back the loan and still make a profit. For a couple of days, everything went as anticipated. He asked the broker for some money, the rep told him that he invested more than $5374 instead of $3974 so the only way to get the money is to deposit the additional $1400.

The trader did as instructed only to realize later that he had no way to get anything from his account. Then he was served with a letter from the broker that asked the trader to sign a statement that he invested money at will and nobody finalized the trade from his account except the trader himself. In short, he didn’t get back even a single penny.

There are dozens of similar cases and all of the unregulated brokers play the same trick. This is why strongly recommend you to only trade with regulated brokers.

DaxMarkets Withdrawal

Daxmarkets entertained Credit Card, Wire Transfer, WebMoney, Neteller, and UnionPay for withdrawals. The website is gone of late so we don’t have a reliable source to find anything more about the minimum amount or the charges against withdrawal processing.

Is DaxMarkets a Scam?

Yes of course! Daxmarkets scam complaints are reliable because scores of disappointed traders are uploading similar stories on different forums. Even if we set them aside for a moment, what happened to the website? Where is that mobile app? Why do the German regulatory authorities ignore mentioning this broker in the list of the registered and regulated financial services? On top of that, there is no Oasis Capital Ltd. in entire Germany, let alone Munich.

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Our Verdict on DaxMarkets

Thumbs Down

Right from the word go, Daxmarkets failed to convince. People never trusted the platform even a mobile app was on offer. Those who trusted are now telling the tragic stories. Why don’t these traders use their common sense? We hate being harsh but there is a limit to everything.

All of a sudden a new broker appears displays fake information on the website makes false promises and finally manages to convince the traders. We are surprised because we double-check a $5 toy because we don’t want to waste our money. What happens while investing big with through such unreliable brokers? Please…please…please NEVER EVER register with an unregulated broker. We haven’t seen even a single unregulated broker who helped someone generate profit in the long run.

Lost Money To DaxMarkets? Get It Back!

Hopefully you have not lost money to DaxMarkets, and hopefully instead you discovered this review prior to trading – however if you have lost money then rest assured we can help you get it back.

We have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from the hands of an online scammer & it is proven to work.

To date the guide has helped thousands of people to recover their lost funds, and it is especially geared towards binary options trading scams – so if you have lost money to DaxMarkets then it can definitely help you out.

You can get access to the guide for free by clicking here.

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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