DovVezia has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Agoolim. We’ve received over 5 complaints against DovVezia.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is DovVezia Regulated? Do They Have a License?
DovVezia might be scam that poses as a registered forex broker. This review will show you how to verify the legality of a financial service provider, ensuring you do not fall victim to such schemes.
The regulatory status of a financial service provider is critical. Legitimate brokers provide thorough information about their company, such as its location, the jurisdictions in which it is permitted, and the regulatory authorities that regulate its operations. However, the appearance of such material does not imply its legitimacy.
Licensed brokers in the UK guarantee money up to £85,000, separate client accounts, and offer negative balance protection. Similarly, EU-regulated brokers provide up to €20,000 in protection for their clients. Australian brokers likewise segregate accounts and offer negative balance protection, but there is no set fund guarantee amount. US-regulated brokers provide fund guarantees and segregated accounts, but no negative balance protection.
DovVezia claims to be situated in Cyprus and is licensed by Dubai’s financial regulators. Despite the fact that no company name or verifiable license data are provided, the website claims to have licenses from the United Kingdom and Australia. Furthermore, the Terms and Conditions specify Vanuatu as the applicable jurisdiction, which is a common approach utilized by fraudulent websites.
According to the data of the relevant financial regulators, no licensed broker operates under the DovVezia name. Additionally, the Bank of Russia has labeled the website, which is mostly in Russian, as an unregistered financial services provider.
The lack of regulation or the presence of poor regulation is a huge red flag. It means DovVezia might be a scam or 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 DovVezia, 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 DovVezia
DovVezia provides a simple web trading platform with limited customization choices and advanced capabilities, which is common among phony brokers. Legitimate brokers employ well-known software, such as MetaTrader 4 (MT4) and MetaTrader 5, which are known for their extensive features, customization options, and automated trading capabilities. While DovVezia’s platform features complex tools and custom indicators, it lacks auto trading and mobile versions, which are available on the MT4, MT5, and cTrader platforms.
The minimum deposit at DovVezia is $150, which is about average for the industry. For the same sum, you could start a trading account with a regulated forex broker. Leading brands provide Micro and Cent accounts with low entry limits that are ideal for new investors. For example, FP Markets asks a $100 deposit, XM $5, and HFM $0.
DovVezia only accepts bitcoins, which are chosen by scammers because of their anonymity and non-reversible nature. Legitimate brokers typically accept a range of payment options, including credit/debit cards, bank transfers, and popular e-wallets like as PayPal, Neteller, and Skrill. Legitimate payment options, on the other hand, provide rapid or quick deposits and withdrawals within 24 hours for a low price. Deposits and withdrawals with cryptocurrency, on the other hand, can take up to 24 hours and incur variable costs.
DovVezia provides trading in a variety of instruments, but the transactions are fictional. The platform offers currency pairs as well as CFDs on commodities, equities, indices, and cryptocurrencies. However, if you want to participate in the real market, you should invest through regulated brokers.
DovVezia’s trading interface displays a 0.1 pip spread on popular currency pairs such as EUR/USD, GBP/USD, and USD/JPY. Such low spreads imply additional commissions, however DovVezia does not offer specifics on trading costs. In comparison, FP Markets’ EUR/USD spread is 1.0 pip, while XM and HFM’s spreads are 1.1 and 0.9 pips, respectively.
DovVezia promotes leverage up to 1:500, which is significantly over what is permitted in the jurisdictions where it claims to be licensed. Regulated brokers only provide higher leverage to professional clients who meet strict capital and experience standards. For retail clients, the UK, EU, and Australian regulators limit leverage to 1:30 for currencies, 1:5 for stocks, and 1:20 for gold and indices. US regulators allow leverage of up to 1:50 for currencies but prohibit it for other assets.
DovVezia does not disclose any special withdrawal conditions, but scammers frequently apply hidden fees and other barriers to withdrawals, which are typically linked to bonuses. Regulated brokers in the United Kingdom, the European Union, Australia, and the United States do not apply such limitations, providing simple withdrawal operations with no hidden costs or volume requirements.
However, it’s worth noting that many forex scams 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, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
DovVezia Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers 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.
Shady brokers understand that 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, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
DovVezia 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.
Even if DovVezia might not be a scam, brokers like them rely on fake reviews to increase their credibility.
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 the online DovVezia reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that 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 DovVezia, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like DovVezia enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “DovVezia reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising DovVezia.
You should always look out for consumer complaints. In the case of DovVezia, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about DovVezia? You can share your complaint in the comment section or submit an anonymous tip.
Is DovVezia Legit Or a Scam?
DovVezia 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 DovVezia can run away with your money without any prior notice. It would help if you were 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 DovVezia?
DovVezia has no noticeable advantages. The broker is anonymous, makes misleading claims about regulation, is blacklisted, only accepts cryptocurrency payments, and uses unsafe leverage ratios.
When considering investing in financial instruments, always check the broker’s license and regulatory status. Working with authorized and supervised companies provides various benefits, including negative balance protection and guaranteed money in the event of insolvency. Avoid unregulated brokers such as DovVezia to protect your savings from fraudulent activity.
All the evidence suggests that DovVezia might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
