Warning! Digital Premium Trade is an offshore company! Your deposit may be at risk.
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Digital Premium Trade’s novelty is lost on us the moment we scroll down; the interesting color choices give way to boring white backgrounds. Why the sudden move? We think that statistically, fewer people are going to scroll down than immediately click on the “create an account” button. And once they do so, they will probably regret their decision. Read the review to find out why registering and investing in this broker is a big mistake.
Would you believe us if we told you that Digital Premium Trade is located in the US? Neither would we. There isn’t a chance in this industry that a shady Digital Premium Trade can ever be added to the thin list of legal US-based FX brokers, all of which are multi-million dollar companies, on top of being regulated by the CFCT and NFA duo, the most demanding regulators on the globe.
The short legal document claims that the user is responsible for complying with applicable local laws, which means that the user should be regulated, and not the broker. Not according to law. Scammer brokers tend to almost always claim this in order to confuse users.
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 account creation process was incredibly easy and fast, meaning that the broker is rather eager to accept new investors. But the reason here is not to provide them with a fair trading experience, but for for them to prove a good time to the broker, via multiple deposits that will never get reimbursed.
This goes perfectly well with the fact that there was no trading software available anywhere on the user area, even if it seems like it at first. There is an alleged web trader, at first sight, but when you consider the way it has been shaped, you realize that it isn’t really a platform. More on the issue below.
DIGITAL PREMIUM TRADE LOGIN
This is a fully useless set of third party charts that have nothing to do with actual trading of assets. The company has just accumulated third party elements, presenting them at its own trading terminal.
Moreover, the button that your read as “start trading” is actually a bot activation one that does actually state the trading bots are activated. Now, as far as we’re concerned, this is a pure lie and there is no way that this compilation of charts allow fro any sort of trading, let alone bot trading; something that is both advanced and reserved for respected trading platforms like the MT4 or MT5.
DIGITAL PREMIUM TRADE MINIMUM DEPOSIT
In the user area we find that the available payment methods are a BTC wallet, MoneyGram, credit card, debit card, and WesternUnion.
However, in typical scammer broker style, all methods except the BTC wallet, have some barriers. Users either have to contact support or have to search for a payment type within the payment system itself, which is way of telling us that users can only invest with the BTC wallet; the only method that had an amount bar. Need we remind you that all crypto investments are untraceable, and so you never really know where the money goes to.
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.
DIGITAL PREMIUM TRADE WITHDRAW TIME AND FEES
The client is expected to enter a crypto wallet address and to wait for the broker to send him money. That’s the withdrawal area for you. We don’t know how how ignorant Digital Premium Trade thinks its users are, but considering that the broker is still standing we presume that a fair share of people have thought this to be a good idea.
There is nothing further to reveal. No withdrawal information currently exists to expand on what we revealed.
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!
Don’t fall for Digital Premium Trade’s sweet talk. This broker is nothing but a risk to all users and a scam!