Damac Investment Review
Are you looking for an online broker to start your trading career? There are lots of them offering their services, with each making taller claims than the others. Which one do you go for? It can be hard to decide because there are so many attractive options. But, you need to remember that appearances can be deceiving, as scam brokers are quite common nowadays and you do not want to opt for one. You need to proceed with caution, or you could make a big mistake. Take a look at this Damac Investment review to know what issues you should look for.
At first glance, there does not seem to be anything wrong with the Damac Investment broker because it claims to be a reputable one and is offering an enticing package. Who does not want a wide range of trading instruments, competitive trading conditions and a good trading software? It sounds like quite the package until you read this Damac Investments review.
The first thing you should remember is that no matter how attractive the offerings of an online broker may seem, you should not let them convince you into signing up without checking its regulatory status. You need to know if the said broker is regulated or unregulated because this will help you assess the broker’s credibility and if you can trust it. One common indicator of a scam is lack of regulation and this is precisely what you will find in the case of the Damac Investment broker.
When you look into its contact section, you will find that the broker claims to have an office in Colorado, United States. This is an implication that it is a legitimate broker based in the US, but this is far from the truth. To be based in the US, the Damac Investment broker would have to be licensed by the Commodity Futures Trading Commission (CFTC) and would also need to be a member of the National Futures Association (NFA).
But, when you check the online register of both these bodies, you are not going to find the name of Damac Investment anywhere. As a matter of fact, it turns out that the broker is actually registered in the Marshall Islands, which is an offshore jurisdiction and is known for its lax rules. Therefore, there are not likely to be any consequences for the broker even if it engages in any illegal activities. Apart from that, you will also find that the Damac Investment broker often refers to itself as AIG TITAN HOLDINGS Limited and this does not make sense either.
Things become even fishier when you check out the Damac Investment trading platform to see what you will use for your trading activities. This software is of the utmost importance because it has to be used for trade execution and provides you trading tools that can help you make decisions. Even though a good platform is promised, the actual trading platform leaves a lot to be desired.
It is nothing more than an oversimplified and basic web trading platform, which is commonly offered by many scam brokers to create the illusion of legitimacy. The Damac Investment trading platform seems fraudulent and dubious in terms of design and it fails to facilitate trading. Likewise, its chart is also completely fabricated and is just a ruse.
Getting to know an online broker also means checking the trading conditions available because this will tell you whether you can make good profits or not. The spreads advertised on the Damac Investment trading platform are undoubtedly attractive, but there is no point when there is no functional trading platform.
Moreover, the leverage advertised on the platform goes as high as 1:400, which is something that no broker in the US would ever offer as it is not permitted. This is further proof that Damac Investment has lied about where it is operating from.
Is Damac Investment scam or genuine?
Considering the lies being told, it is evident that Damac Investment is a scam because no genuine platform would ever mislead its clients.
Thanks to this Damac Investment review, you can learn the issues it has and look for a legitimate and reliable platform.
Damac Investment Review
Here you can go through our detailed Damac Investment review and learn whether or not Damac Investment is a legitimate or scam broker for online trading. Moreover, our dmcinvests.com review will also help you learn what you can expect from the Damac Investment broker if you decide to sign up.