The website we’ll be taking a look at today is so obscure that it won’t even pop up in the google search results. Nevertheless, a huge volume of people has been defrauded by the people running this particular platform.
Our DCY Markets review will show you all that you need to know about this blacklisted company. Without further ado, let’s take a look into how it all works, and what you should be aware of before investing.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | BaFin authority says the firm is suspicious and dangerous, so better stay away. |
| Known Websites: | dcymarkets.com |
| Have Warnings from: | BaFin |
| Registered in: | N/A |
| Operating since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | 30% to 100% |
| Trading Assets: | Forex, Crypto, Commodities, Indices, Stocks |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Withdrawals are not guaranteed! Please consult our legal professionals for help! |
Blacklist Confirms Scam
Safe trading starts with regulation and the DCY Markets scam has none. Such an anonymous firm could never fulfill the licensing standards, especially those imposed by the leading financial authorities like FCA, BaFin, CySEC, CNMV and others.
Those are the first databases we examined on our mission of determining what this suspicious brokerage is. The ongoing investigation of their business, initiated by BaFin, speaks enough.
Apparently, the company is a fictitious construct that doesn’t exist outside of the internet and only aims to steal clients’ funds.
Therefore, you can’t rely on this firm to provide segregation of accounts, reasonable and transparent trading conditions, with proper risk-reduction strategies. We recommend you to avoid RoyalDiam as well, since their fraudulent strategies and mentality are the same.
How Boiler Rooms Work
As far as the dcymarkets.com website goes, it was launched in October 2023. Those running the scheme are actively targeting people from these countries:
- Netherlands
- Germany
- Norway
- Switzerland
- Belgium
The DCY Markets broker fraud is a full blown boiler room, or in layman’s terms, a fraudulent call center. It employs young people hungry for money, and pays them to constantly call potential victims to pitch their fraudulent scheme to.
Following a script created by experts in the field, they are able to trick an alarming number of people daily. Any trading here is just a facade that keeps the deception last that much longer, and allows the con artists to get more money out of their clients.
Attempted Cover-up
At one point, this con circle paid review seller networks to improve their rating on TrustPilot. The recent influx of disgruntled users, as well as negative reviews, quickly destroyed any semblance of reputation this company had.
Don’t ignore the warning signs, as time passes, your chances of getting your money back are growing constantly slimmer! Book a consultation with our recovery experts today, and start fighting back for your investment.
Approach Costs With Caution!
An obvious strategy employed is centered around showing attractive costs, which should motivate potential victims to invest immediately. Therefore, it’s no surprise to see spreads being advertised as lowest in the industry, ranging from 1.5 pips for the starting account and 0.0 pips for the VIP one.
Leverage is also over any and all Tier 1 regulatory limits being up to 1:500, depending on the price of the account type chosen. All the other fees and taxes are allegedly not hidden, just not charged. We wouldn’t trust such silly statements published by blacklisted sites.
Deposit Bonus Pulls Unknown Terms
In relation to the amount of cash you’re willing to cough up, you can get a cash bonus on your first deposit. This reward ranges from 30% up to 100%.
Be careful, however, considering the lack of transparency when it comes to withdrawal conditions for non-deposited funds.
Is Anything on This Site Useful?
After taking a closer look at what the firm has to offer, we highly doubt you’ll be able to make any profit at all. Starting from an unreliable platform and overly expensive accounts, we don’t see anything worth your money. Let us show you the results of our investigation.
Unsophisticated Software Solution
In terms of reliability, performance, speed and options, the DCY Markets platform is by far inferior compared to modern industry leaders.
Besides the basic functions, such as buy/sell orders and stop loss and take profit, some simplistic customization tools are also there. That’s about it. We won’t even discuss the untruthfulness of the graphs and data shown.
Deficiency of Instruments
Website itself lacks information on the available asset groups. The only information about products exists inside the terminal:
- Cryptocurrencies (ADA, DOT, BTC)
- Forex (EUR/USD, USD/JPY, USD/AUD)
- Commodities (Coffee, Copper, Silver)
- Indices (Dow, Nasdaq, Dax)
- Stocks (3M, Ferrari, Caterpillar)
Ripoff Accounts
The DCY Markets account types are structured in a number of tiers. The account tiers grow exponentially in costs, with the alleged “most popular choice” costing an arm and a leg! For the sake of comparison, regulated brokers like STMarket minimum investments are $10 or less.
To justify these insane price surges, the fraudsters claim they provide certain benefits, like tighter spreads for instance. Let’s take a look at minimum deposits now:
- Standard – $250
- Silver – $2,500
- Gold – $10,000
- VIP – $50,000
Inconsistent Withdrawal Info
Once you log into the user panel, you can explore your payment options. For depositing money onto the trading account, the only option is credit card, while DCY Markets withdrawal are conducted via crypto channels. Please do not accept such conditions, as they’re an obvious sign of AML breaches.
Furthermore, the concrete details about the fees are not given due to the absence of any legal papers. We only managed to find a promise about withdrawals taking 3 to 5 business days to complete.
No Dedicated Support
It’s difficult to describe the alleged 24/5 customer support other way than to call it a complete farce. Besides the phone number of the person that contacted you in the first place, there is no other contact data.
The site has no support options whatsoever, which lets the swindlers just ignore you once you raise any concerns. All you’re left with is a couple of FAQs that aren’t very helpful.
We Help Victims of Fraud!
The existence of a public alert on a company is an apparent sign of something not being right. Such business deals should be avoided, as they can never be beneficial and profitable for decent Forex investors.
If, by any chance, you’ve already fallen victim to scam, worry not. Our recovery experts are working day and night to help defrauded traders recover their hard-earned capital. Book your free consultation today to find out more!
FAQ Section
What is DCY Markets?
It is a dangerous fraudulent broker that uses different deception methods to steal your money.
Is DCY Markets Legit?
No, the company is completely illicit and has no relevant license for their line of work! It has already been blacklisted by BaFIN.
How to Get Money Back From an Online Scammer?
You may book a free consultation with our experts at your convenience. We are available 24/7 in the live chat on our website.
Source:
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