How to fool traders of their money by phone calls? Ask DAX100 Three simple schemes that DAX100 uses to trick traders and steal their money. A hasty choice of a broker may lead to very sad consequences. Quite often traders are in such a rush to start trading that they choose any broker which promises big gains. However, gullible investors soon find out that the broker they have picked is not a broker but a common swindler greedy for their money. Sometimes, the scammers resort to psychological attacks in order to deceive traders. What fraudulent schemes DAX100 as well as other fraud brokers apply we will review in this article. About DAX100 company We were unable to find out the year of the company's establishment, as well as information about its location and regulatory authorities. The broker's official website lacks the usual "About us" section which gives clients an insight into the history of the company. However, there are a lot of promising offers: fast money withdrawal, support of highly experienced analysts, capital insurance, family-like attitude to clients, and much more. Well, let us examine how the broker truly treats their clients. After having studied the comments of the company's former traders, we have summed up that most traders complain about psychological pressure from the company’s representatives. While describing the broker, they use such verbs as persuade, promise, vow, and sweet-talk. The client department of the broker did really "a great job". They have cheated so many traders so that it arouses curiosity about how they did it.
Daniil, 23.09.2018
Aleks Fokin, 12.09.2018
Roman6548 30.11.2019 How DAX100 cheats its clients We are sure that this scammer has more than one method of stealing client money. In most cases, the company found the phone numbers of potential victims. In the reviews, traders write that they had been receiving annoying phone calls from managers for 3-4 months. The broker’s representatives praised the broker to the skies and promised whole mountains of gold. When the client replenished the account, the broker used one of the following three schemes. First scheme: analyst's professional opinion As a rule, the conversation between the so-called highly experienced analysts and novice traders or those who have no experience in trading turned out to be quite a good technique against the latter. The broker offers the help of professional analysts who can point at gainful traders as well as help increase profit. Analysts advise traders to open deals. Naturally, it is not hard to guess that those trades were not profitable and investors lost all their money. Analysts acted surprised, saying that traders should top up their account once again to return money that was withdrawn due to technical failure. After being cheated twice, traders were unable to reach out to analysts or managers. Interestingly enough, beginning traders do not find it suspicious that an experienced analyst would cheat $100, $200 from them. They would more likely invest this money in their own trading to make a solid profit. Now it is clear that the so-called analysts are not analysts at all. Second scheme: well-thought-out approach for bigger fish DAX100 uses more elaborate schemes with clients who may potentially make a large deposit. They created the whole show to achieve their goal. They started conducting profitable deals so that the client could earn an impressive amount of money allegedly from trading. However, when traders requested a withdrawal, the broker required them to pay a small commission. Gullible traders deposited additional funds and lost everything – their deposit and the so-called commission. Remember that you can pay off any commission for withdrawing money from the amount that is already on your account. Decent brokers do not require any additional investments. Third scheme: common scammers' technique Sometimes the broker simply uses a time-proven technique when it allows traders to earn $50, $70, and $100. Naturally, traders are over the moon about their first successful steps in trading. The broker offered them to deposit another $1,000, promising that their profit will soar up by 10 times and more. When investors decide that it is time to make a withdrawal, the broker blocks their accounts. They cannot contact their manager anymore. No one calls them five or more times a day anymore. What about special attention to the clients' needs? When DAX100 gets what it needs it disappears from the clients' radars immediately. So, it is pointless trying to contact it. Conclusion The first negative feedback on DAX100 began to appear in 2019. In Ukraine, it was charged with accusations of fraudulent activities. However, it just changed its brand name on Daxioma and continued to con gullible traders. There is information on the Internet that the company's website was blocked some time ago, and the broker was blacklisted. We discovered that the DAX100 website https://dax100.org works, but the information provided there (contests, news) has not been updated since the spring of 2020. The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
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On my first few weeks at DAX100, I was ultimately earning well. The broker provided automatic trading system and it allowed me to earn huge amount of profits. However, after a while, the broker started to demand more deposits from me. Whenever I refuse, my account balance would decrease until it got to less than $20. Before I know it, the broker already shut down my account.
DAX100 made me believe that I was making a great progress in my account by manipulating my trades. The broker made it look like I earned a hundred dollars in less than two weeks. Naturally, when a representative encouraged me to add more funds, I instantly agreed. Sadly, I only threw away more money.
It is very important to do a background check on any company you intend to get involved with. You should not solely rely on what the company itself is saying. You should look for what its users or clients have been saying about it. I already made a mistake with DAX100 and I will never do it again.
DAX100 is supposed to be a reliable broker! I spoke with their representative and he was very pleasant to speak with. I never expected that the broker would turn out to be a fraud and that I invested a huge amount of money on a company that never planned to provide services to us.
I had an account at DAX100 and the broker made me believe that my portfolio was growing so much. In return, I added more funds to my account. In the end, I lost $5300 on this fraudulent broker.
My cousin was victim of DAX100. He invested quite a large amount of money that is why he is really devastated right now. We all supported him in this venture but we never expected that the company was involved in fraudulent activities. In the end, my cousin lost all the money he invested.
When I saw one negative feedback on the broker, I already decided not to deal with this broker. Their representative called me multiple times but I did not give in. Thankfully, I was firm in my decision. Or else, I would have lost my money.
I had an account at DAX100 for a month and after that, I could no longer access my account. The broker did not say anything about it and even when I tried to reach out to them, they did not respond to me. Since then, I never got my access back and of course, I also did not get my money back anymore.
I had the same experience. I was only able to trade for about a month but after that, I already lost everything. The company cut its communication with me, and there was no way I could retrieve my money.
Since I did not have any background in Forex trading, I relied mostly to my account manager at DAX 100. I was promised to be guided by an expert and they really provided me with one. At first, things are going well until he started making aggressive trading actions which resulted to huge losses. When I confronted him about it, he did not say anything. I tried complaining to the company but they only ignored me. In the end, I just lost everything.
I was never able to take my money back from DAX100. I tried reaching out for help but it was just impossible. The company and its owners already fled and ran away with all the money we invested. I naively believed that the broker was providing great trading services and I regret it.
I have the same experience. I invested $1000 at this broker and when I tried to withdraw just a portion of my profits, the broker suspended my account. I tried getting it back or at least just taking back the remaining funds but I was never contacted by the broker again.
That is why it is very important that we are careful in choosing whom to trust. Once we get ourselves involved with fraudsters, it is impossible to take back our money already. They do this kind of activity to collect huge amount of money. Once they get caught, they will obviously run away and leave all their clients.
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