Dukasbance has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Onefxgroup. We’ve received over 5 complaints against Dukasbance.
Selecting the appropriate broker is crucial when it comes to forex trading, as it can significantly impact your trading experience and the security of your funds. Reputable brokers follow strict regulations to ensure the safety of investors. However, there are concerns regarding unregulated brokers such as Dukasbance, who do not have the approval of the Swiss Financial Market Supervisory Authority (FINMA). This raises potential investment risks. It is crucial to ensure that a broker’s regulatory status and trading conditions are transparent, as unregulated entities like Dukasbance can employ deceptive practices without facing any consequences. Investors should exercise caution when dealing with brokers who lack transparent regulatory oversight to protect their financial security.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Dukasbance Regulated? Do They Have a License?
The selection of a broker is critical when embarking on the realm of foreign exchange trading, as it significantly influences the quality of the trading experience and the protection of your funds.
In addition to being reputable, it is vital to choose a broker who complies with rigorous regulatory requirements. Concerns regarding the unregulated broker Dukasbance become particularly apparent at this juncture. This report identifies critical deficiencies in Dukasbance that render it an unattractive choice for prudent investors.
Despite operating under the guise of a trustworthy Swiss broker, Dukasbance is markedly devoid of Swiss Financial Market Supervisory Authority (FINMA) regulatory approval.
Strict guidelines designed to safeguard investors are enforced by brokers in accordance with regulatory sanction, which is a cornerstone of trust and dependability in the world of financial trading. Indicating potential hazards to traders’ investments, the lack of such regulation raises a red flag.
FINMA has issued a clear and unequivocal warning against any involvement with Dukasbance, designating it as an unauthorized entity, which only intensifies the problem. These cautionary statements are supported by evidence and retailer complaints regarding deceptive practices. To avoid jeopardizing one’s financial security, this emphasizes the significance of complying with regulatory advisories.
Critical areas such as negative balance protection, segregated accounts, and guaranteed funds—advices that Dukasbance does not provide—believably diverge when comparing regulated brokers in various jurisdictions. The hazards associated with trading with an unregulated broker are highlighted by this analogy.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Dukasbance is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Dukasbance, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Dukasbance
In the absence of transparent information regarding spreads, leverage, and other crucial trading parameters, Dukasbance’s trading conditions are opaque. In contrast to more forthcoming platforms, this lack of transparency is detrimental.
Dukasbance’s trading platform is uncompetitive, lacking features including custom indicators, automated trading, and sophisticated tools, despite the fact that it purports to offer a variety of trading instruments. On the other hand, these features are provided by well-established platforms such as MT4, MT5, and cTrader, which offer exhaustive tools and indicators to enhance the trading experience.
Minimum Deposits and Account Types
Minimum deposit amounts range from $250 to $100,000 across the numerous account types offered by Dukasbance. The registration process, nevertheless, continues to impede potential traders by requiring a promotional code, which is not a standard practice among reputable brokers.
In addition to failing to provide explicit guidelines regarding withdrawal times, fees, and minimum requirements, the broker’s website fails to specify supported payment methods. For investors seeking to effectively administer their funds, this dearth of knowledge may present unforeseen obstacles.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Dukasbance Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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Dukasbance Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Dukasbance tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Dukasbance reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Dukasbance, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Dukasbance enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Dukasbance reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Dukasbance.
You should always look out for consumer complaints. In the case of Dukasbance, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Dukasbance? You can share your complaint in the comment section or submit an anonymous tip.
Is Dukasbance Legit Or Scam?
Dukasbance is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Dukasbance can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Dukasbance?
All the evidence suggests that Dukasbance is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Dukasbance a scam?
Can I withdraw money from Dukasbance?
Where is Dukasbance Located?
How do I get my money back from Dukasbance?
How The Dukasbance Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
