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DynastyFx Global (dynastyfxglobal.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! DynastyFx Global scam works by getting you to believe you can become rich by trading with them.
DynastyFx Global Review
The advent of the internet brought changes in many industries, but only a few have seen transformations happen the same way as the trading world. Thanks to online trading, you can access the financial markets from anywhere and have everything right at your fingertips.
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One of the most important roles in this process is that of online brokers that have been established for facilitating people who want to make profits via trading. Where does this DynastyFx Global review come in? You will realize the need for it when you begin shopping for an online broker and come across the options.
The sheer number of brokerages that have been founded over the years is so massive that the thought of sorting through them can often push people to reconsider their decision to trade. Sure, you could just opt for the first one you find, or one of the numerous ones that are marketing their services, but there are risks involved.
It is not just that there may be a difference in the quality of trading services, but the legitimacy of these brokerages is also not guaranteed. Why? This is because there are scams that also happen in the online world.
As a matter of fact, the trading space is a hotbed for these scams and they pose as brokers to exploit people because there is a lot of money invested. Thus, not every brokerage that you will find will be genuine, which means that you have to dig into a company to ensure it is not a fraudulent brokerage.
You cannot just take their word for the services they are promising because anyone can claim anything online and you cannot belief anything without proof. The same is true for DynastyFx Global because it portrays itself as a regulated and trustworthy brokerage offering its services globally.
A wide array of trading instruments are offered at DynastyFx Global that can be traded on an advanced trading platform. But, when you dig into its offerings, you will find all the hallmarks of a scam. What are they? Go over them below.
Absence of regulation
The regulatory status of an online brokerage is the biggest indicator of its authenticity and credibility because a license is only granted after a company has met a certain criteria and has been thoroughly vetted.
It is issued by the regulatory body of the jurisdiction where the brokerage is based and it adds a layer of security because you know that the company will offer quality services, along with transparency and accountability. The fact that DynastyFx Global claims to be regulated may sound reassuring, but nothing can be taken for granted.
You have to check their regulation yourself, which can be done online. A look at the DynastyFx Global website shows that it boasts an address in London, United Kingdom, which means that the broker should have a license from the Financial Conduct Authority (FCA).
This is one of the top regulatory bodies in the world and is known for its strict requirements due to which its license is quite valuable. But, when you check its online register, you are not going to find DynastyFx Global in the list of companies.
This means that DynastyFx Global does not have a license to operate in the UK and is not regulated anywhere. There is no credibility of the corporate address it has mentioned either because you cannot verify it via a regulatory body. Even if it does have a UK office, it does not help because it is operating illegally in the country and a company that is breaking a law cannot be trusted at all. This is something only a scam brokerage would do.
No trading platform
The second hallmark of a scam that you will discover at DynastyFx Global is when you look for its trading platform. In its presentation, the brokerage promises an advanced trading platform to its clients, but when you scour through its website, the only thing you do find are a bunch of charts. These are TradingView charts that you can also get for free over the internet and do not need to open an account with DynastyFx Global to access them.
The fact that there is no trading platform provided by DynastyFx Global shows that it has no intention of offering you trading services because there can be no trading without a platform. It is the main offering of a brokerage because it connects you to the market and lets you execute your trades. The lack of a functional trading platform on DynastyFx Global means there can be no trading.
Guaranteed profits
The reason behind the lack of a trading platform at DynastyFx Global becomes evident when you take a look at its account options and find that it is actually offering investment plans. This means that rather than letting you trade, the brokerage claims to do it on your behalf. It has added a bunch of investment plans that require you to make a deposit and DynastyFx Global will trade for you.
It is offering you returns of somewhere between 40% and 70%, depending on the investment plan you decide to use. As appealing as it sounds, you should bear in mind that DynastyFx Global is guaranteeing profits and this is a hallmark of a scam.
The financial markets are highly volatile and unpredictable, which means even experts and professionals cannot guarantee profits. Only scams would ever claim to do so.
Secondly, it should also be noted that brokerages by their nature are market makers, which means DynastyFx Global will make profits when its clients lose a trade. If it trades on your behalf and generates profit, it would incur losses for itself, which makes it a conflict of interest.
No legitimate brokerage would ever offer to make profits for you due to this reason. Since DynastyFx Global is doing so, there is a good chance it would make bad trades and squander your money in order to make profits for itself.
Closing Thoughts
Since you will find all of these hallmarks of a scam when you dig into DynastyFx Global, you should avoid choosing this brokerage.