DC-MarketTrades

DC-MarketTrades, or also known as Digital Capital Markets, is utterly broken as a result of a mixture of negligence and a lack of professionalism. The broker easily fits the category of a very bad and useless broker.

The first thing we came across was an address in the US, suggesting to us that DC-MarketTrades is somehow based in the US, even though there isn't such a thing. In order to be a working brokerage company in the US you need to be licensed by the NFA and CFTC. DC-MarketTrades clearly isn't.

There is a quick link that leads to an outside source. We were redirected to BrokerCheck.Finra.org, a website owned by the the Financial Industry Regulatory Authority, a private self-regulatory US corporation that regulates brokers and exchanges. To what extent this agency has power is of no concern to us, although we doubt that it is affiliated with the CFTC and NFA in any official way. The link led us to a confirmation page on the BrokerCheck.Finra.org site where we read that a DIGITAL CAPITAL MARKETS LLC is registered. This entity seems to have no affiliation with the broker we are reviewing- it says nowhere that it does- and what's more is that on the regulator's page it clearly says that DIGITAL CAPITAL MARKETS LLC in “is not affiliated with financial and investment institutions“. DC-MarketTrades has reused some irrelevant information and made it its own, and even in doing so has forgot to clean thing up, leaving breadcrumbs to the obvious conclusion that it is illicit.

Furthermore, the terms and conditions claim that the broker  is not intended for use in any jurisdiction where its use would be contrary to law. The user, we are told, is solely responsible for complying with applicable local laws and regulations. This statement claims that the user is responsible for being regulated, whereas in fact only the broker must be on top of a license.

Moreover, the terms and conditions continue with the claims that the broker is based in the US: allegeldy all disputes are governed by the laws of Maryland.

DC-MarketTrades is no regulated in the US. In fact, the broker is completely unregulated to begin with.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

The process of registering was very easy, and we entered a portal area in no time, But as soon as we did we wish we hadn't for before us was one of the worst user area ever! Moreover, there was no sign of a trading software. Without a trading software, DC-MarketTrades does not really have any applicable tradeable assets, nor any leverages or spreads.

DC-MARKETTRADES LOGIN

So many recent unlicensed brokers have started to ignore the usage of a trading software, that we are beginning to think that this is slowly turning into a trend, which means that scammers don't even have to try that hard anymore. This is worrying news.

But back to DC-MarketTrades. It has not trading terminal.

DC-MARKETTRADES MINIMUM DEPOSIT

We believe that all deposits in the broker will be lost.

From the user area, we gather that the depositing methods are crypto wallets, debit cards, credit cards, MoneyGram, WesternUnion, and Skrill.

There was no minimum deposit reveal on the client portal.

According to the FAQ section of the site, the minimum deposit is $100.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

DC-MARKETTRADES WITHDRAW TIME AND FEES

Withdrawals will be held back, until the broker either spends them or shuts down the site. Do not invest here!

The same  payment methods as the depositing ones are used for withdrawing, yet there are no card withdrawals anywhere.

There is no further information on withdrawals anywhere. And the one we have is definitely not very appealing.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

DC-MarketTrades is definitely not worthy your money and energy. We repeat for the last time: all investments will be lost!