DGFX Forex Broker provides real users with * positive reviews, 1 neutral reviews and 1 exposure review!
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I want my money back... I signed up for a trading account last year and have yet to receive login details... I have sent several emails and not one response. Called the number and no answer...
I make the request for more than two months, but cannot withdraw till now. Keep delaying the withdrawal date via email. Now, they do not even reply.
DGFX, a trading name of DGFX Limited, has garnered significant attention in the forex community, particularly due to its controversial reputation. This review synthesizes various sources to present a comprehensive overview of the broker's offerings, user experiences, and regulatory status. Notably, DGFX has been flagged for its lack of regulation and numerous negative user reviews, raising concerns about its legitimacy.
Note: It is essential to be aware that there are different entities operating under similar names across various regions, which may lead to confusion. This review aims for fairness and accuracy by consolidating information from multiple credible sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 2 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trust Level | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are based on a thorough review of user experiences, expert opinions, and factual data.
DGFX Limited was reportedly established between 2015 and 2018 and claims to be registered in Hong Kong. However, it operates without valid regulatory oversight, receiving a score of 1.43 out of 10 on WikiFX, indicating a high-risk profile. The broker primarily offers forex trading, but specific details about trading platforms, available assets, and account types are scarce, as its website has been frequently inaccessible. There are no indications that DGFX utilizes popular platforms like MT4 or MT5, which are standard in the industry.
Regulatory Regions: DGFX is unregulated, meaning it does not fall under any recognized financial authority. This lack of oversight is a significant red flag for potential investors.
Deposit/Withdrawal Currencies: The review sources do not specify the currencies supported for deposits and withdrawals, which is a common concern among traders.
Minimum Deposit: Reports suggest that the minimum deposit requirement varies but could be as low as $100 for certain accounts. However, many users have reported difficulties in accessing their funds after deposit.
Bonuses/Promotions: There is little information available regarding any bonuses or promotions offered by DGFX, which is often a standard feature among brokers.
Tradeable Asset Classes: Primarily focused on forex trading, there is limited information regarding other asset classes available for trading through DGFX.
Costs (Spreads, Fees, Commissions): The spread information is vague, with indications that fees may be hidden or higher than industry standards. Users have reported unexpected charges that were not disclosed upfront.
Leverage: DGFX reportedly offers high leverage, potentially up to 1:1000, which can amplify both profits and losses. However, this high leverage is coupled with the risks associated with trading with an unregulated broker.
Allowed Trading Platforms: There is no clear indication that DGFX supports widely used trading platforms like MT4 or MT5, which could deter potential users looking for familiar trading environments.
Restricted Regions: The review does not specify which regions are restricted, but given its unregulated status, traders from various jurisdictions should exercise caution.
Available Customer Support Languages: Customer support appears limited, with users only able to reach out through email. There is no phone support or live chat options, which may hinder timely assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 2 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trust Level | 1 |
| User Experience | 2 |
Account Conditions: Users have reported that the account conditions are not transparent, with many feeling misled about fees and withdrawal processes. One user stated, "I requested a withdrawal for over two months, but they keep delaying and now don't even reply." This highlights a significant issue with trust and reliability.
Tools and Resources: The lack of educational resources and trading tools is evident, with many users expressing frustration over the absence of useful trading aids. This absence may hinder both novice and experienced traders.
Customer Service and Support: The customer service experience has been notably poor, with many users reporting unresponsive support. One review noted, "They do not provide any direct contact information like phone numbers, which is unusual for brokers."
Trading Setup: Traders have indicated that the trading setup is not user-friendly, especially given the absence of popular platforms. This could deter potential clients who prefer familiar trading environments.
Trust Level: The trust level is alarmingly low, with multiple sources warning users to stay away from DGFX due to its unregulated status and numerous complaints regarding withdrawal issues.
User Experience: Overall user experience appears to be negative, with many traders reporting difficulties in accessing their funds and a lack of transparency in operations.
In conclusion, the DGFX review paints a concerning picture of a broker that lacks the regulatory oversight necessary for safe trading. Potential investors are strongly advised to conduct thorough research and consider reputable, regulated alternatives before engaging with DGFX.
