It is always wise to be cautious when dealing with an unregulated broker. For example, DubaifXM does not follow any regulations, and they offer only fixed spreads. Furthermore, you cannot expect them to be able to control the market, so a broker that promises you profits guaranteed is probably not legitimate.
What Is DubaifXM Trading?
DubaifXM Sirix is a web-based trading platform with advanced charting options and powerful trading tools. It is also compatible with mobile devices and has advanced social trading features. You can choose to install it on your desktop computer or download it to your mobile device. This platform is easy to use and provides valuable information regarding trading performance. It also offers a variety of payment options.
Traders can customize their experience with Sirix, including trading rules and indicators. They can choose to display live prices and market data. The platform also has news and social functionality. The advanced charting options and social trading functionality can make dubaifxm.trade attractive to both beginners and more experienced traders. The interface of Sirix looks dazzling at first. But it’s not without flaws. The interface is crabbed and the expandable chart section overlaps other sections of the interface.
Dubaifxm Offers Fixed Spreads Only
If you’re new to trading forex, it’s a good idea to diversify your account with an offshore broker. DubaifXM offers a basic account with fixed spreads and commission-free trading. In addition, clients can use leverage of up to 1:200. You can also choose to upgrade your account to one of its premium types, which come with features like access to Trading Central and discounted spreads. As with any trading option, it is important to conduct your own research to compare the different companies. Fortunately, there are many comparison tools and review websites that can help you find the best option. The key is to find a broker with the best spread, but also make sure that they offer other services that are worth your money.
Dubaifxm Is An Unregulated Broker
The website of DubaifXM looks legit but the company itself is not. It is based in Vanuatu, a notorious offshore tax haven that is also a favourite of online scammers. Moreover, Dubai FXM is an unregulated broker, meaning that it is not obligated to adhere to regulatory rules. It is also anonymous and could disappear at any moment. If you are considering opening a trading account with DubaifXM, you need to be very careful. Despite the fact that the broker states it is authorized and meets international financial standards, DubaifXM is not regulated. Although you can get a membership for EUR24,000 a year, there are no rules that govern the company’s conduct. As a result, traders are offered zero protection against losses. In fact, the Italian watchdog, CONSOB, has placed DubaifXM on its warning list. This means that it is not allowed to provide services to Italians and other Europeans.
Another common sign of a fraudulent broker is persistent unsolicited marketing. If a broker is always trying to persuade you to make a purchase, be very wary. Such brokers are likely to be scammers and could be using your personal information to steal your funds.
Problems With Dubaifxm
If you’re unsure whether a broker has a legitimate license, you should always check the licensing information. A fraudulent broker may use a fake license or an address to hide its true identity. The best way to avoid this is to check the license and the address of a company through several sources. Furthermore, you should always exercise constant vigilance when you send money online. Even the most careful investor can make a mistake.
If you’re trading overseas, it’s important to understand the differences between offshore brokers and their local competitors. For example, an offshore broker may have different rules and regulations. Also, you may have to be more careful when opening an account. Some offshore brokers, like DubaifXM, may be fraudulent. As such, you should always diversify your trading accounts to avoid losing money.
Conclusion
This raw spread account enables traders to invest in leading base currencies without buying them physically. Moreover, the account features spreads as low as 0.2 pips, and maximum leverage is 1:500. Its reputation is such that HYCM is a good forex broker, and many online reviews are positive. The company has multiple wings, regulated by various financial authorities, including the UK, Cyprus, and Hong Kong.
