DynamicsFX Trade mentions being operated by Cent Projects Ltd and that they have a registered office at 309&310, Albert Street Victoria, Mahe, Seychelles.
Many scam brokers register their fraudulent companies in Seychelles. Their site also includes a phone number, an e-mail, and a live chat option scattered around.
The real problem here is the 1000$ deposit. Regulated broker companies usually offer a 10$ deposit, so you can see why 1000$ is an obvious red flag.
Another scam indication is the fact that they offer to give you a gift upon registration. These kinds of offers are usually made by financial swindlers in a desperate attempt to lure in more clients.
The biggest problem surrounding the DynamicsFX Trade scam is the fact that they don’t have a license. This makes every investment unsafe since a company that is not legally regulated cannot guarantee anything, even though they guarantee that their clients can trust them with their money.
License and Safety of Funds at DynamicsFx Trade
Not owning a license and their alleged registration location are both clear signs of an investment scam. Though DynamicsFX Trade asserts that they abide by the laws imposed by Seychelles, this means nothing without a license.
Another problem is that in order for a trading company to be registered somewhere, they need to have a license. Seeing how they fail to mention a license anywhere in their online presentation we can safely assume that they don’t even have one and are thus not registered anywhere.
A quick check with the Seychelles business registry revealed that DynamicsFX Trade, of course, is not registered in Seychelles, and neither is Cent Projects Ltd.
If a broker is unregulated and operates without a license, there is really no point in investing with them. No matter how amazing their trading conditions might be, doing business with shady brokerages like DynamicsFX Trade will only put your money in harm’s way.
DynamicsFx Trade Trading Platform
DynamicsFX Trade offers virtually no information regarding the trading platform that they offer to their clients. The only thing that we could learn about the platform was that it is integrated into their website which means that you don’t have to download any additional software.
In order to get a clearer picture of what kind of platform DynamicsFX Trade uses we’d have to register an account with them which seems quite risky since they require a copy of your personal ID to activate your account.
This kind of procedure is very risky for the client’s data and it is definitely not something that a legitimate forex broker will force their users to go through just to get a peek at their trading platform.
Regulated brokers usually proudly display the trading platforms they use, while the DynamicFX Trade scam simply claims their victims will be able to earn a lot of money through the would-be platform they are allegedly offering.
What Trading Instrument is Available at DynamicsFx Trade?
When it comes to trading instruments offered by DynamicsFX Trade, the information that they give us is equally vague as all other relevant information is.
They mention that more than 100 assets can be traded “from any device, any time, with the highest level of security and beautiful managers in chat!” Yes, you read that correctly, the DynamicsFX Trade scam doesn’t tell us what can you actually trade here, but they do want us to know that they have beautiful managers in chat.
The only information regarding what kind of trading can be done that can be found is that they trade Forex and CFDs and that you can invest and earn up to 95% in 60 seconds.
Though it’s not necessarily a scam, this kind of trading, also known as binary options trading has been banned in the EU and Uk since 2018, since it equates to gambling.
Scam brokers habitually go wild when making false promises, but this mash-up of incredible offers, lack of information, and terrible presentation might just grant DynamicsFX Trade a gold medal for the laziest attempt at an investment scam we’ve encountered this month.
DynamicsFx Trade Deposit and Withdrawal
In terms of deposits and withdrawals, DynamicsFX Trade offers the following conditions. Upon opening an account the client has to deposit 1000$ in 90 days. If the client fails to comply, the company can close its account.
The firm allegedly allows withdrawals within 1 hour but if a third party submits a request for withdrawing funds from the client’s account, the company basically wavers all and any responsibility.
DynamicsFX Trade insists that the deposits are made through client accounts with their banking information and the company’s e-wallet information which can be received on their webpage and which are only valid on the day the payment is made.
If the client fails to meet these conditions the company again relieves itself of all responsibility and asserts that it doesn’t have to return its client’s money should the client ask for a refund.
The client must comply with all of these insane conditions and pay fees for deposits and withdrawals.
The company accepts payments through Visa, MasterCard, bank transfers, Payoneer, Skrill, and a few other lesser-known options.
How Does This Scam Operate?
Like most other companies, DynamicsFX Trade perpetrates its scam through a well-established pattern, although it does so very badly.
The company uses various ads to attract its victims to the website where every page offers them to register an account.
If the company acquired your contact data one way or another, they will keep trying to manipulate you into investing your capital with them by offering amazing trading conditions and promising you profits beyond your wildest dreams.
Once they get a deposit out of you the scam broker will basically pretend that you don’t exist. They won’t answer your calls, reply to your e-mails or acknowledge any attempt you make to communicate with them.
The only thing that can stop them at this point is if you made your deposits through Visa or MasterCard in which case you can ask for a chargeback in order to save your money.
The Best Foreign Exchange Brokers
Seeing how there are so many investment scams like DynamicsFX trade which require huge minimum deposits and impose insane conditions for money withdrawals, you definitely want to consider other options.
Though there are many scam brokers out there, there are also good brokers who simply provide their clients with a reliable service.
If you want to avoid combing through the internet while searching for such brokers, we recommend you try out some of the companies listed below. Their brokers are regulated and trusted by many users around the world.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||10$||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||100$||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||100$||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||5$||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya, SVG||4.3||5$||Hfm.Com|
|FBS Broker||Cyprus, Australia, Belize||4.85||1.2$||FBS.Com|
DynamicsFx Trade Summary
In a sea of scam brokers, DynamicsFX Trade stands out as one of those financial swindlers who made almost zero efforts to hide the fact that they are operating an investment scam.
Everything about them clearly points to a scam broker. The terrible website, the huge minimum deposit, the insane withdrawal conditions, and the fact that they constantly renounce responsibility are all things that a regulated broker wouldn’t allow themselves to be associated with.
DynamicsFX Trade won’t make you rich but they might make you regret trusting them so avoid them at all costs.
FAQs about DynamicsFX Trade
Is my Money Safe with DynamicsFx Trade?
DynamicsFx Trade is not a legally regulated company so your money is not safe with them.
Does DynamicsFx Trade Offer a Demo Account?
No, DynamicsFX doesn’t offer a demo account to its users.
How Secure Is DynamicsFx Trade?
Since they have no license and they are in no way regulated, DynamicsFX Trade is not secure for trading.