Dakras foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://dakras.com/en/read.jsp?id=17, about the company's legal and temporary regulatory information, the company's address 香港金融街国际金融中心38楼.
Dakras Forex Broker
Basic Information
United Kingdom
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Dakras Forex Broker - Comprehensive Information Guide
1. Broker Overview
Dakras Markets Limited, established in October 2020, is a financial trading company headquartered in London, UK. This broker operates as a private entity, providing services primarily in the forex market, alongside various other financial instruments. The company claims to have a history dating back to 2002, which raises questions given its registration records that indicate a much more recent incorporation.
Dakras serves a diverse clientele, including retail traders and institutional investors, offering a range of trading products such as foreign exchange, precious metals, oil, and various indices. The establishment of Dakras marks a significant milestone in the evolution of online trading platforms, as it aims to provide users with access to global markets and various trading opportunities.
While the broker offers a wide array of services, its business model primarily focuses on retail forex trading, appealing to both novice and experienced traders. The introduction of high leverage options and a user-friendly trading platform has positioned Dakras as a competitive player in the online trading landscape.
2. Regulatory and Compliance Information
Dakras operates in a challenging regulatory environment. It is important to note that the broker is unregulated, lacking oversight from significant regulatory bodies. The primary regulatory authority relevant to Dakras would be the National Futures Association (NFA) in the United States; however, Dakras is not authorized under this jurisdiction. This lack of regulation raises concerns regarding the safety and security of client funds.
Furthermore, Dakras is registered with the UK Companies House under the company number 12961125, but this registration does not confer any regulatory authority over forex activities, which are overseen by the Financial Conduct Authority (FCA) in the UK. A search of the FCA registry reveals no registration for Dakras, highlighting its unlicensed status.
In terms of client protection, Dakras does not participate in any investor compensation schemes, which are crucial for safeguarding client funds in the event of broker insolvency. The broker's Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures are not explicitly detailed, which adds to the uncertainty surrounding its operational integrity.
3. Trading Products and Services
Dakras offers a broad range of trading products, primarily focusing on the forex market. The broker provides access to numerous currency pairs, catering to the diverse trading strategies of its clients. Additionally, Dakras includes Contract for Difference (CFD) products across various categories, including:
- Indices: Major global indices, allowing traders to speculate on market movements.
- Commodities: Trading options in precious metals such as gold and silver, which are often seen as safe-haven assets.
- Oil: Opportunities to trade crude oil, an essential commodity influenced by geopolitical factors.
The frequency of product updates and the addition of new trading instruments are not explicitly outlined, but Dakras aims to keep its offerings competitive. The broker also provides retail trading services, making it accessible to individual traders, while the potential for institutional client services remains unclear.
4. Trading Platform and Technology
Dakras primarily utilizes the MetaTrader 4 (MT4) platform, a widely recognized choice among traders for its user-friendly interface and robust functionality. The platform supports both desktop and mobile trading, allowing users to manage their accounts efficiently from various devices.
While there is no indication of a proprietary trading platform, Dakras ensures that users can access the MT4 platform seamlessly. The broker offers a range of execution models, including ECN (Electronic Communication Network) and STP (Straight Through Processing), which cater to different trading styles.
Dakras's technological infrastructure includes servers located in strategic locations to facilitate fast order execution. The broker supports API integrations, enabling automated trading solutions for clients who prefer algorithmic trading strategies.
5. Account Types and Trading Conditions
Dakras provides several account types to meet the diverse needs of its clients, although specific details about these accounts are somewhat limited. Key features of the standard account include:
- Minimum Deposit: $100
- Spreads: Starting from 2.1 pips on EUR/USD
- Commission: Not explicitly stated
For more advanced traders, Dakras may offer higher-tier accounts, potentially including VIP or professional accounts, though details are not clearly provided. The broker also likely offers Islamic accounts to cater to clients who require Sharia-compliant trading solutions.
Leverage options at Dakras are notably high, with a maximum of 200:1 for forex trades and up to 888:1 for precious metals. This high leverage can amplify potential profits but also increases the risk of significant losses. The minimum trade size and overnight fees are not specifically mentioned, which could be a consideration for potential clients.
6. Funds Management
Dakras supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The minimum deposit requirements differ based on the account type, with the standard account requiring a minimum of $100.
Deposits are typically processed instantly, allowing traders to fund their accounts promptly. However, the specific fees associated with deposits are not disclosed, which could affect the overall cost of trading.
Withdrawals may take up to three business days for processing, depending on the chosen withdrawal method. The broker's terms regarding withdrawal fees and limitations are not clearly outlined, which may pose challenges for clients seeking to access their funds.
7. Customer Support and Educational Resources
Dakras offers customer support through various channels, including email, which is available at uk@dakras.com. The broker provides assistance in multiple languages, including English, Chinese, and Japanese, ensuring that clients from different regions can receive help in their preferred language.
The service hours and time zone coverage for customer support are not explicitly stated, which may affect clients in different geographical locations. In terms of educational resources, Dakras appears to offer some market analysis tools, including a financial calendar and top news updates, although comprehensive educational materials such as webinars or tutorials are not detailed.
Traders can benefit from various trading tools, including calculators and market signals, to aid in their trading decisions. However, the extent of educational offerings remains unclear, which may be a consideration for novice traders seeking guidance.
8. Regional Coverage and Restrictions
Dakras primarily serves markets in the United Kingdom and potentially other regions, although specific details about the geographical distribution of its services are limited. The broker's website does not provide a comprehensive list of countries where its services are available.
Certain countries may have restrictions on trading with Dakras, particularly those where the broker is not licensed to operate. However, the specific countries that Dakras does not accept clients from are not disclosed, which could be a concern for potential users in those regions.
In conclusion, Dakras Markets Limited presents a mixed offering for traders. The broker provides access to a variety of financial instruments and high leverage options, appealing to both novice and experienced traders. However, its unregulated status and lack of detailed information regarding account types and educational resources require careful consideration. Potential clients should perform thorough due diligence before committing to any trading platform.
Dakras Similar Brokers
Latest Reviews
Kamemi
Japan
Progressive tax is levied on withdrawals. Minimum remittance to Dakras is $1,000. 5% will be collected if the account balance is 1.95 million yen or less. I applied for a $ 2,500 withdrawal and collected $ 125. 1,000-125 = 875 The remaining $ 875 will be transferred to your account. Withdrawal application completed on May 25, 2022. Normally, the transfer is completed in 3 business days, but I waited for a message from Dakras saying that the transfer is scheduled to be made by May 31, but the payment is not received. I made an inquiry, but only answered that it was "in process". Withdrawal record of account data only. In fact, I haven't received the money.
Exposure
2022-06-01
Masaru Iwata
Japan
I have not been able to withdraw my money for over six months. They say that money can be withdrawn if you put in a deposit, but I put in a deposit several times, but the money was never withdrawn. The posting of the truthful disclosure to DAKRAS has been moved to another brokerage firm and is posing as a healthy company. Can someone please help me to withdraw my money?
Exposure
2021-11-08
Kamemi
Japan
On March 12, 2021, Hong Kong's Securities and Futures Commission SFC added Dakras Market to its alerts, stating that its Hong Kong address was invalid and was an unlicensed entity.
Exposure
2022-06-01