Dizicx

Dizicx encompasses some pretty looks, but when we started to read about it, we had to laugh. There are certain ridiculous claims that we will cover.

The first, is the address locating the broker in the Republic of Congo, the last place where a broker such as Dizicx looks to be operating from. The Democratic Republic of Congo is certainly not the ideal place for any brokerage firm. The National Bank of Congo is the only place which presumably should be regulating the financial market. The official National Bank of Congo website hold no info on regulations. Dizicx might be located in Congo, but it certainly is not regulated there.

Aside from this address in Congo, the website gives no other info on a license been held. Furthermore, the Risk Warning document issue the following clause, clearly stating that the company’s operations are unregulated:

Thus Dizicx is very much UNLICENSED, and is therefore a big investment risk to anyone!

We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

We tried opening both a live account and a demo account, but received no confirmation emails. We assume that the broker makes a check on us, and makes sure that the registration details we gave are not false. Needless to say, without a registration we cannot identify any real trading conditions and assets.

While opening an account, we were given the opportunity to continue with a 1:500 leverage. The website claims to be offering Forex Pairs, Commodities, Indexes, and Spot Metals as tradeable assets, with an alleged minimum EUR/USD spread of 0.4 pips.
However, throughout the website there are multiple contradictory concerning leverages, spreads and available assets for trading.

The only language made available is English.

DIZICX LOGIN

No registration means no way to confirm that the broker keeps its word on a promised trading platform. At Dizicx it’s the MT5.

The Metatrader 5 trading platform has certain advantages over its older brother, the MT4, that, although cannot change the contents of your wallet as much as you would like, can still make a difference. MT5 features more technical indicators, a larger number of graphical objects and increased time frames. As always MetaTrader 5 does not fall short on the important inclusion of Expert Advisors.

DIZICX MINIMUM DEPOSIT

The Payment Options sections claims that the minimum deposit is $5. Yet, another section of the website claims that the minimum Standard Account deposit requirement is $10. Inconsistencies that increase our distrust of Dizicx.

As for the payment methods, they are said to be Neteller, Skrill, Visa, MasterCard, and bitcoin.

We would not deposit with this one if we were you. This broker is clearly not legitimate and not regulated, meaning that who knows what they will do with your investment. Traders should deal exclusively with brokers regulated by exemplary agencies such as the FCA or CySEC, for they oversee a brokers activities from head to toe with a severe case of diligence.

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

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

DIZICX WITHDRAWAL TIME AND FEES

We can only say what the website gives us, and that is only limited to the fact that there are no fees connected to withdrawing.

As for the processing times, the Chargeback and Refund policy gives us an interesting and very scammer take. Users are basically told that only the deposit can be withdrawn in the timeframe of 61-90 days, and that the user must send an email with the reason for his or her wish to withdraw.

ADDITIONAL FEES AND TAXES

The Terms and Conditions are constantly mentioning undisclosed fees, most of which seem to be concerned with the execution of trades. Unsurprisingly, these fees have not been disclosed, but only referred to.

Dizicx takes chargebacks seriously, as in it dumps a heap of trouble should a user request one. First is blocks the account, second it records buy information from VISA (should the user be using it) purchases and “blocks” the websites from accepting said user, and thirdly it charged the client a hefty $350 fee. Here is the entirety of this mess:

And if a user thinks he can incriminate the broker, think again! The classic indemnification clause is here to make sure that this does not happen.

Heed our words. Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.

ACCOUNT VERIFICATION

If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.

The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.

HOW TO RECOVER

Don’t delay, and file for a charge back ASAP with your bank or credit card company, but also ask them what the situation with your current account is.

If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.

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

Dizicx is a complete and utter scam, and it is not afraid to be arrogant. Never deposit in this one!