DAB Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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They cheated me of $2360. I was unable to withdraw on the page and I wanted to expose it.
They were scammers. I managed to have more than $500 but they did not allow my withdrawal.
In this review, we will provide a comprehensive analysis of the forex broker DAB, based on various user experiences and expert opinions gathered from multiple sources. The overall sentiment regarding DAB appears to be mixed, with significant concerns over its regulatory status and customer service, while some users have noted its competitive pricing and diverse asset offerings.
Note: It is essential to recognize that DAB operates under different entities across various regions, which may impact the services and regulations applicable to users. This review aims to present a balanced view based on the information available to ensure fairness and accuracy.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We evaluate brokers based on user feedback, expert analysis, and regulatory information.
DAB, established in 2019, is a forex broker based in Germany. Although it has gained some traction among traders, it lacks regulation from recognized financial authorities, which raises concerns about its trustworthiness. DAB offers trading platforms compatible with MT4 and MT5, catering to a variety of asset classes, including forex, stocks, and commodities. However, the absence of a robust regulatory framework is a significant red flag for potential investors.
DAB operates primarily in regions such as Austria, Belgium, and Germany. However, it is crucial to note that DAB is not regulated by any major financial authority, which poses a higher risk for traders. According to WikiFX, DAB received a low score of 1.48 out of 10, indicating a lack of trustworthiness. This unregulated status means that in case of disputes or issues, traders may not have any legal recourse or protection.
DAB supports a variety of currencies for deposits and withdrawals, including major fiat currencies. However, the specific details about the minimum deposit requirements are not clearly stated across sources. Users have reported difficulties with withdrawals, with some claiming they were unable to access their funds, which adds to the concerns regarding the broker's reliability.
While DAB may offer promotional bonuses, the specifics are often vague, and traders should be cautious about the terms associated with such offers. Bonuses can sometimes come with stringent withdrawal conditions, which could complicate the trading experience. As noted in various reviews, users should read the fine print carefully before accepting any promotional offers.
DAB provides access to a range of asset classes, including forex, stocks, and commodities. However, it does not offer trading in CFDs or options, which could limit the trading strategies available to users. According to finanzen.net, the broker has a diverse offering but lacks some popular trading instruments that other brokers provide.
DAB's cost structure includes competitive spreads, but users have reported that trading fees can add up quickly. The lack of transparency regarding fees has been a point of contention among users, as some have experienced unexpected charges during their trading activities. The absence of a flat fee for trading can also lead to increased costs for high-volume traders.
DAB offers leverage options, but the specifics vary based on the asset class and trading conditions. The platforms available, such as MT4 and MT5, are widely recognized for their user-friendly interfaces and advanced trading capabilities. However, the lack of a demo account limits new traders' ability to familiarize themselves with the platform before committing real funds.
DAB appears to have restrictions in certain regions, particularly in countries with stringent financial regulations. Traders should verify their eligibility to trade with DAB based on their location to avoid any compliance issues.
DAB primarily offers customer support in German, which may pose challenges for non-German-speaking users. Reviews indicate that customer service response times can be slow, and users have reported difficulties in resolving issues effectively.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions (Rating: 4/10): The lack of clear information on minimum deposit requirements and withdrawal difficulties raises concerns about the overall account conditions offered by DAB.
Tools and Resources (Rating: 5/10): While DAB provides access to popular trading platforms like MT4 and MT5, the absence of a demo account limits the resources available for new traders.
Customer Service and Support (Rating: 3/10): User feedback highlights significant issues with customer service, including slow response times and language barriers, which can hinder effective communication.
Trading Setup (Experience) (Rating: 4/10): Although the trading platforms are user-friendly, the lack of transparency regarding fees and withdrawal issues can lead to a frustrating trading experience.
Trustworthiness (Rating: 2/10): The absence of regulatory oversight is a major concern, as it leaves traders vulnerable to potential issues without any legal protection.
User Experience (Rating: 3/10): Overall user experiences have been mixed, with reports of difficulties in withdrawals and customer service, which contribute to a negative perception of the broker.
In summary, while DAB offers a range of trading options and platforms, the significant concerns regarding its regulatory status, customer service, and withdrawal issues make it a broker that potential traders should approach with caution. Always conduct thorough research and consider alternative brokers with better regulatory oversight and user experiences before deciding to trade with DAB.
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