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DBRS Morningstar

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Operating status: SCAM

Website: https://dbrsco.com/

Broker violations and abnormal records
  • 2023-10-22 BrokersView has reviewed that website operator of "dbrsco.com" is an unregulated broker

    This website seems to be misusing the brand name, DBRS Morningstar, of a credit rating agency to deceive unwitting investors. It portrays itself as a world's leading Forex CFD provider, but various concerning signs strongly suggest it's a scam.

    Firstly, this website conceals information about its actual operator. In its company profiles and regulatory claims, it consistently provides vague information, making it impossible for investors to ascertain its legal status.

    Secondly, while this web prominently mentions numerous financial regulatory authorities on its website to project an image of legitimacy in forex trading, it has no registration with any of them. Extensive searches through the registers of these regulatory bodies, including the National Futures Association (NFA), the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (NZ FMA), the Vanuatu Financial Services Commission (VFSC), and the Seychelles Financial Services Authority (Seychelles FSA), have failed to yield any evidence of its legitimacy. Consequently, its claim of regulatory status is unequivocally false.

    Thirdly, it raises suspicions by referencing a VFSC-registered company, Trademax Global Limited, in its Terms and Conditions. Upon investigation, it was confirmed that "dbrsco.com" has no affiliation with this legitimate broker. Furthermore, Grayscale Forex Global Ltd, another entity mentioned, is not listed in the VFSC register.

    Lastly, the website claims to hold an MSB (Money Services Business) designation in the US. However, a search on the Financial Crimes Enforcement Network (FinCEN) website revealed no records to support this assertion.

    In essence, "dbrsco.com" is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    This website seems to be misusing the brand name, DBRS Morningstar, of a credit rating agency to deceive unwitting investors. It portrays itself as a world's leading Forex CFD provider, but various concerning signs strongly suggest it's a scam.Firstly, this website conceals information about its actual operator. In its company profiles and regulatory claims, it consistently provides vague information, making it impossible for investors to ascertain its legal status.Secondly, while this web prominently mentions numerous financial regulatory authorities on its website to project an image of legitimacy in forex trading, it has no registration with any of them. Extensive searches through the registers of these regulatory bodies, including the National Futures Association (NFA), the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (NZ FMA), the Vanuatu Financial Services Commission (VFSC), and the Seychelles Financial Services Authority (Seychelles FSA), have failed to yield any evidence of its legitimacy. Consequently, its claim of regulatory status is unequivocally false.Thirdly, it raises suspicions by referencing a VFSC-registered company, Trademax Global Limited, in its Terms and Conditions. Upon investigation, it was confirmed that "dbrsco.com" has no affiliation with this legitimate broker. Furthermore, Grayscale Forex Global Ltd, another entity mentioned, is not listed in the VFSC register.Lastly, the website claims to hold an MSB (Money Services Business) designation in the US. However, a search on the Financial Crimes Enforcement Network (FinCEN) website revealed no records to support this assertion.In essence, "dbrsco.com" is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

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Q&A

2 comments

herber aldana
I as well got scammed, I can see the account with my money but can’t withdraw the money .
2024-02-23
Reply
Terry Lytle
They are a scam, I put money into it but they keep coming up with reasons why I can't withdraw, stay as far away as possible or you will lose!!
2023-11-25
Reply
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