DividendCare (Dividendcare.com) is a Forex scam broker that is waiting to steal your funds once you make deposit. Dividend Care is claiming to help see your savings grow all thanks to their innovation. DIVIDENDCARE is simply another Forex broker scam to hit the lucrative Forex trading world. What this means is that whoever signs up with this broker, will end up losing their money. Read this entire DividendCare honest Review.
In almost all our reviews, we recommend that investors do an investigation before signing up with a broker. If that’s not possible, trusted reviews from experts help shed light on what to expect with a broker. These scammers know for a fact that we all want to make a quick buck or two. That’s why they create the impression that they can make this happen. All what is required from you is to sign up with them.
Do you really think that this is the case with DividendCare? Claims and promises are another bag of tricks scammers use to entice unsuspecting investors. Empty claims and promises are meant to lure users into believing the product even before they test it. Claims such as no commissions, working with a consultant are just but a few claims. Make sure you read this detailed and honest review and find out the truth.
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According to the disclaimer at the bottom of the homepage, DividendCare limited owns this firm. Disclaimer also adds that this company is based in Hong Kong which means only one thing. DividendCare is an offshore brokerage house which is a lot to take in. Offshore brokers are known the world over for flaunting regulations and rules. Trusting such a broker with funds is next to impossible with us.
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Problem with their website is the lack of proper information to help resolve minor issues. For instance, who actually owns DividendCare Limited? Homepage fails to give information to the real name of the person who runs the company. What’s more, we don’t know who the CEO or CFO of their mother company. Names of these people would have helped verify whether this is a legitimate company. Lack of these names is proof we are dealing with a scam syndicate.
How can an offshore broker be licensed and regulated by proper regulatory bodies? What this means is that we are dealing with a broker who has no authorization documents. Only number we see is the registration number of their mother company. 23689 IBC 2016 is the number posted as the registration number. It should be noted that scammers will say or do anything to make their platform appear legit.
Where are their licensing and registration documents? A real broker will easily post their licensing and regulation documents for all to see. This shows transparency and trust with the broker as well as from the regulatory body. Lack of these documents is proof that we are dealing with a scam.
According to their platform page, this broker uses MT4 trading platform for all their trading needs. In order to test their platform, we had to make sure to download this platform. This means that devices such as Desktops, Mobiles, and Tablets have to work with the platform. And this is where we encountered our next red flag.
Download stalled at just 9% which is bad news for any user who uses this platform. What this means is that we are dealing with an unstable platform. Unstable platform are a security risk as they leave users vulnerable to hacks. Hackers find unstable platforms as easy prey for credit card theft and personal information. This wouldn’t be the first time that an unstable platform has led to credit card theft. Make sure to stay away from brokers who have unstable platforms.
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Dividend Care offers three account types to choose from as a user. These account types are Standard, premium, and VIP. Standard account holders are promised competitive and favorable trading terms. Minimum acceptable deposit to start trading with this account is $10,000. This account has 27 currency pairs and lack of requiting. A $10,000 price tag for an account with no perks is not worth it.
Premium account holders are promised the opportunity to work on a modern platform. Minimum acceptable amount to start trading with this account is $100,000. It has the same currency pair as Standard account with 1:400 leverage. VIP account is for exclusive clients and comes with narrow spreading. Folks, all these accounts are simply illogical since they offer no visible advantage over the others. That’s why you should stay away from this broker.
Funds are never safe with a broker who is based offshore. Have you noticed that they fail to mention who their bank partner is? Where do they deposit money sent by users? That’s not all; members could be depositing money straight to the owner’s personal bank account. Here’s a reason not to sign up with an unknown entity.
Segregation of accounts is not possible with this broker. What this means is that they are pooling funds in one account which is very risky. In case of bankruptcy or insolvency, this broker will lose your money without warning. Once the broker loses your money, that’s the last time you will ever see it. Steer clear from this brutal Forex scam.
When we started conducting our investigation, we had to ask their live chat for answers. What this chat support asked us was our email and phone number. Earlier, we had warned you in regards to identity theft. This is how they gain access to your information by asking using chat support. Once we gained access, we asked the simplest of question, “Are you there?” We have never received any feedback. Their customer care desk is dormant.
How do they expect users to get answers to problems they encounter using this platform? This is concrete evidence that this broker wants to remain anonymous. They don’t want any interaction with users for fear of backlash. Authorities and victims may use chat support to air their grievances and they avoid this. With this said, make sure not to sign up with any broker who is never available.
Evidence that we have gathered points to one truth; we are dealing with a scam broker. Make sure to warn your friends and relatives from signing up with this broker. Mark all their emails as Spam and never click on any links sent by their email marketing team.
What we are left with is to add this shameful broker to our blacklist. Hopefully, relevant authorities will investigate and shut their operations down. This will greatly help investors from falling into this snare.
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Finally, we wish you all the best in your Forex trading experience.
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