Dax1001 (Dax1001.com) is a CFD and Forex scam broker to hit the financial world. First impression we found about this Forex broker is the poor website. It looks like a thirteen-year-old made it. No professional Forex broker can come up with such a lame and poor website. It’s not the only quarrel we have with Dax1001. Read this full honest and detailed review regarding all trickery used by these scammers.
According to the homepage, members will be cooperating with the best broker on the market. Members are also guaranteed safe trading as we as expert support. Users are promised to earn money safely and easily all thanks to Dax 1001. With this platform, users are also guaranteed of expanding their trading capabilities. How about expanding your trading portfolio? Dax 1001 also guarantees this. Is this all true?
Homepage does one good thing, and that’s to market Dax1001 as a legit platform. Members are asked to sign up and test various trading strategies with these platforms. How can this be the case? Which strategies are they claiming to use? Why haven’t they told us the strategies to use before we sign up? All these are questions that we need answers to before signing up. Read this full and detailed expose of Dax1001.
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According to the homepage, this Forex scam broker uses MT4 trading platform. To be honest, this is one of the most versatile and used platforms. Scammers know this and that’s why they highly advertise this as a feature. Fraudsters believe that once potential investors notice that the platform is up to date, more signings will occur. A problem arises when we tried to download this platform, and it isn’t pretty.
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Mobile users can now trade on the go by just downloading a broker’s platform. With Dax1001, this proved to be a problem. Download would stall at 58% which is a major disaster waiting to happen. Other devices could not download this platform such as our desktops. All these was as a result of a stupid and unstable platform. No real Forex broker can have such a fake platform and consider themselves as legit.
With such a boring and simple website, we were not shocked to learn that this website is not SSL encrypted. It means that hackers can easily take over the website and steal your identity, worse still, your funds. Problem with this platform is that even a rookie hacker can take over due to the platform being unstable. No one should sign up with a broker whose intention is to get your personal information stolen.
An unstable platform means that all is not well with other security features. Safety of funds is not guaranteed with Dax1001. It means that in case hackers stole all the funds, members are not insured. No one will be able to compensate members due to lack of safety of funds. What we are also concerned with is the security of funds. Is Dax 1001 segregating member funds? Traders could be depositing money straight to owner’s personal accounts.
Dax1001 is full of anonymity and this is a major concern for us. Why would this be the case? Why would anyone who has a legit brokerage firm hide their own identity. Notice that we don’t know who the owner of this Forex platform is. If it’s a legal entity, they don’t share this with us. How can they expect us to deposit our hard-earned money with people we don’t know? No one even has the name of the developer of this platform.
Here lies our major problem, these fraudsters can take off with your money as soon as you deposit. Sad thing is that you cannot get back your money since it’s not insured. Address given as their contact information can and is forged. Contacting these people by phone and email has landed on deaf ears. And this is why we are up in arms against Dax 1001 being in the Forex business. It’s simply tarnishing the good Forex trading name.
Another trickery we revealed involves their demo account. Signing up with a demo account is easy and fast, this is what scammers are after. Problem with their demo account is that it makes only successful trades. If you are new at Forex trading, you’re probably wondering what’s wrong with that? Simple, they want members to believe in their platform. It will make you want to sign up quick and fast believing the real account works the same way.
Also, when opening an account with Dax1001, your personal data is checked. It’s a problem since this website is not secure. For all we know, they could be selling our information to terrorists. It’s a good thing and always safe to know who exactly you’re sharing your personal information with. An unsecured website such as Dax1001 is not a good place to share your personal data.
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Dax1001 offers members three different account types, Basic, Gold and Platinum. According to their page, Basic account is for beginners, Gold for experienced traders. Platinum account is for experienced professional traders. Problem we have with this platform is we don’t know the required minimum deposit. With other platforms, you are told what to expect with each account you choose to open.
Another problem we noticed is that with these accounts, there is no Live support. It means that you are on your own when you start trading. In this day and age, you expect a platform to have live support. Least it should have is a chat bot that helps with queries. It means that newbie traders are at a disadvantage. No one will help them with questions and this is a big let off.
All evidence proves that we are dealing with a scam. Nowhere on the face of the planet can you have a platform with such anonymity. Dax 1001 takes the price when it comes to hiding who they really are. A website that’s unsecured and safety of funds is not guaranteed. Investors are urged to stay away from this Forex broker.
As ardent Forex investors, we have no other option but to blacklist Dax1001 as a scam. Facts are clear that we are dealing with a scam broker firm. No one wants to admit that this is a pure scam. Simply stay away from it completely and stay safe.
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