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DMM FX Forex Broker provides real users with * positive reviews, * neutral reviews and 12 exposure review!

DMM FX Broker Review

6.91

WikiFX monitor

Business

Field Survey Good

Risk Control

Risk Manage

DMM FX Review 12

Latest All(12) Exposure(12)
Exposure
DMM Denied my Withdrawal

After several attempts to withdraw my money from DMM FX, I can tell you they are a fraud platform. I made an initial deposit of 90000 yuan which yielded profits over time. When I tried to withdraw, it was denied and they blamed the Restrictions on technical problems. Later, a 10% tax was requested to allow my withdrawal The fee was so much for me at that time and they froze my account for delayed payment. I didn't get a response from them since I asked to liquidate my account, I implore other investors to stay clear of DMM FX, they have nothing to offer.

Cicciolin0
2021-04-16
Exposure
Unable to Withdraw from DMM FX

My experience with this company has been quite unfortunate. I heard about them in December 2020 when i made an initial deposit of CNY 71000 (about £8000) into my trading account which yielded good profits. I became more interested and made another CNY 90000 (£10000) to make better returns. Late last year, after Christmas, i tried to make a withdrawal which was denied. I reached out to Chris from their support who claimed withdrawals were a bit delayed due to an End of year system upgrade. Up till Last week, i didn't have access to my money and they stopped responding to my complaints. Like many other traders i spoke to, tech some sort of experts and they were able to get my money including my accruals. This awful situation with DMM FX prevented me from enjoying the holidays with my family as i would have loved but i learnt a key lesson, Always test the waters before committing. I implore other investors to stay clear of DMM FX, they have nothing to offer.

FX3876302499
2021-04-16
Exposure
Cheat money. Abscond. Do not reply messages

I have a WeChat friend who is a salesman, making Short term foreign exchange. This guiy sent me a QR code and asked me to invest. Then I began to invest with a teacher he recommended. But I always made mistakes even if I was so careful. Then they induced me and threatened me to add money to keep investing. In fact, the data was manipulated by them. After the three-round operations, I applied for withdrawal. The withdrawal hasn’t arrived. I was told to pay taxes. It has been a month and no one replied to me. They keep cheating others via other platforms. I hope investors can stay away from these frauds!

无名96986
2021-04-16
Exposure
A gang of frauds

Ask us to add more but we are still unable to withdraw funds.

江亚
2021-04-13
Exposure
market manipulation

The way this platform works, you make an order and someone else on the platform manipulates the trend to ensure that you lose money and cannot close the position, I called the attention of financialrecovery.tech by submitting a complaint to them in a feat to get my investment back because I also noticed that in situations when the big market comes, you make the right order but you are unable to open the position again. You often lose money and end up closing the position because that is the only working option however, my complaints sparked up a chain of reactions that resulted in a refund.

FX1950301999
2021-04-12
Exposure
Unable to withdraw

Deny my withdrawal on grounds of wrong bank card. Margin and personal income tax are needed. But the staff disappeared and my money was gone! I hope you can expose them

农村小伙
2021-04-12
Exposure
The fraud disappeared. The principal can not be returned.

I've invested with this broker for over 20 days. Can anyone help me?

无名96986
2021-04-11
Exposure
Cheat all of my money without answring my messages.

I've been cheated of over 200,000

无名96986
2021-04-10

  

DMM FX 2025 Review: Everything You Need to Know

  Summary: DMM FX is a forex broker that has garnered mixed reviews, with some users praising its low spreads and user-friendly platform, while others raise concerns about withdrawal issues and regulatory status. Key features include a minimum deposit of $200 and a maximum leverage of 1:600.

  Note: It is important to consider the different entities operating under the DMM FX brand across various regions, as this can affect regulatory oversight and user experience.

  

Rating Overview

Category Score (out of 10)
Account Conditions 6
Tools and Resources 7
Customer Service and Support 5
Trading Setup 6
Trustworthiness 4
User Experience 6
(Optional) Promotions 6

  How We Rate Brokers: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, regulatory compliance, and overall service quality.

  

Broker Overview

  DMM FX was established in 2013 and is headquartered in Sydney, Australia. It operates under the DMM Group, a prominent Japanese forex broker. DMM FX offers trading through the widely used MetaTrader 4 (MT4) platform, providing access to various asset classes including forex and CFDs. The broker is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Services Agency (FSA) in Japan.

  

Detailed Breakdown

  •   Regulated Regions: DMM FX is primarily regulated in Australia by ASIC and in Japan by FSA. However, some reports indicate that it may not be fully licensed in certain jurisdictions, raising concerns about its regulatory status.

  •   Deposit/Withdrawal Currencies: Traders can deposit and withdraw in multiple currencies, including AUD, USD, EUR, GBP, and NZD. However, it is noted that standard credit and debit cards are not accepted for deposits.

  •   Minimum Deposit: The minimum deposit required to open an account with DMM FX is $200, which is relatively standard compared to other brokers.

  •   Bonuses/Promotions: DMM FX offers various promotions, including a $50 welcome bonus for new traders and deposit bonuses up to 100% on initial deposits. However, the terms and conditions associated with these bonuses may be complex.

  •   Asset Classes: DMM FX allows trading in a range of asset classes, including forex pairs, commodities, and CFDs. However, it does not offer stocks or cryptocurrencies, which may limit options for some traders.

  •   Costs (Spreads, Fees, Commissions): DMM FX operates on a fixed spread model, with spreads starting as low as 0.5 pips for major pairs. There are no commissions on trades, but a $20 fee applies for withdrawals to overseas bank accounts.

  •   Leverage: The broker offers a maximum leverage of 1:600, which can amplify both potential profits and losses. Traders should be cautious with high leverage, particularly if they lack experience.

  •   Allowed Trading Platforms: DMM FX primarily uses the MT4 platform, which is available for desktop, web, and mobile devices. However, there are limitations on using automated trading systems (EAs).

  •   Restricted Regions: DMM FX does not accept clients from the United States, which is a common restriction among many brokers.

  •   Available Customer Support Languages: The broker provides customer support in multiple languages, including English, Japanese, and Chinese.

      

  

Rating Overview (Repeated)

Category Score (out of 10)
Account Conditions 6
Tools and Resources 7
Customer Service and Support 5
Trading Setup 6
Trustworthiness 4
User Experience 6
(Optional) Promotions 6

  

Detailed Analysis

  •   Account Conditions: DMM FX offers a single standard account type with competitive spreads. However, the lack of account variety may not cater to all traders' needs.

  •   Tools and Resources: The MT4 platform provides robust trading tools, but some users reported that the lack of support for EAs is a drawback for algorithmic traders.

  •   Customer Service and Support: Customer service has received mixed reviews. While some users highlight responsive support, others report difficulties in communication, particularly during withdrawal requests.

  •   Trading Setup: The trading experience is generally smooth, but users have noted that withdrawal processes can be problematic, leading to frustration.

  •   Trustworthiness: Concerns about DMM FX's regulatory status and user complaints regarding withdrawal issues have led to a lower trust rating.

  •   User Experience: Overall, the user experience is positive, particularly for those who value low spreads and a well-known trading platform. However, the withdrawal issues significantly impact the overall satisfaction.

  In conclusion, while DMM FX offers competitive trading conditions and a user-friendly platform, potential traders should exercise caution, particularly regarding regulatory compliance and withdrawal processes. As always, it is advisable to conduct thorough research and consider personal trading needs before opening an account.