DtpFx Ltd is a forex scam warned by FCA recently. However, it hasn't stopped its steps to scamming after being warned. The fraudster lures investors by offering bonuses and extremely high leverage. It is necessary for every forex trader to know the true face of this company.
Attractive but Unreliable Trading Conditions
Offering bonuses is a common method for forex brokers to attract customers. Same in DtpFx Ltd, the scammer offers $100 for everyone who signs up with it. Some adventurous investors may not consider the $100 bonus an attractive offer. But if the $100 is traded through the leverage it provides, the trading volume should not be underestimated.
According to its web page, customers have many choices on the account type, or we can say package. Although the leverage available for different accounts is not the same, the lowest leverage is up to 1:300, already risky, and the highest leverage can even up to 1:5000.
Such high and risky leverage is really rare to see in a regulated platform.
Ignoring Inquiry about Regulation
Though the scammer claimed to be regulated, we could not find specific regulatory information on its website. To prevent misunderstandings, we asked customer services about its regulation through live chat.
At first, no staff showed up to answer our inquiry. Then we asked about its bonuses and the staff came to answer us. After repeating the question about bonuses and regulations, customer service started to talk about the $100 bonus but ignore the latter question.
After we were done talking about bonuses, the staff started to ask us questions. However, since we did not get the regulatory information, we repeated the question about regulation for the third time.
At this time, the staff did not avoid the question and gave a license number, saying that was its license number in the UK. However, we checked the FCA register and found no matching results - the number is fake.
Warning from FCA
Asked customer service to no avail, we started to search the website of forex regulators according to the address it presents.
Surprisingly, FCA just issued a warning against the company a few days ago, warning that DtpFx Ltd was providing financial services or products in the UK without authorization.
In summary, DtpFx Ltd is a scam.
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