Dex-trade Review: Is dex-trade a scam or legit site?

Is Dex-Trade legit or a scam? 

This question plagues many potential investors in the cryptocurrency space. This article delves into Dex-Trade’s operations, uncovering red flags and raising concerns about its legitimacy.

Company Overview:

Services or Products:

Dex-Trade primarily focuses on cryptocurrency trading, offering over 400 coins and a single account type. They boast a user-friendly platform with desktop and mobile apps, but the lack of account differentiation raises questions about catering to diverse investor needs.

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Trading Platform & Leverages:

Dex-Trade utilizes a single-asset trading software with imported charts from TradingView. While offering mobile access, user reviews paint a bleak picture of its functionality and potential manipulation. Leverage information is unavailable, adding to the platform’s ambiguity.

Spreads and Cost of Trading:

Dex-Trade claims varying fees depending on account status, ranging from 0.2% to 0.054% for market orders and 0.1% to 0.0108% for limit orders. However, withdrawal fees and potential hidden charges remain unclear, raising concerns about transparency.

License and Regulations:

Red Flag: Dex-Trade claims to be licensed in Belize, but Belize’s Financial Services Commission (FSC) has no record of such licensing. This blatant lie is a significant red flag, highlighting the platform’s lack of regulatory oversight.

Legal Warning Against Dex-Trade:

Financial regulators in the UK Financial Conduct Authority (FCA) have issued a warning against Dex-Trade, advising against using their services due to their unauthorized operations. This further confirms their lack of legitimacy and potential danger for investors.

Deposit and Withdrawal Methods:

Dex-Trade claims no deposit fees, with a 0.1% withdrawal fee and minimum withdrawal amounts depending on the coin. However, numerous user complaints allege difficulties and even blockages regarding withdrawals, casting doubt on the platform’s reliability.

Dex-Trade Pros and Cons:

Why Dealing With An Unlicensed Broker Is Risky:

Unlicensed brokers like Dex-Trade operate outside regulatory frameworks, exposing investors to significant risks:

• No investor protection: If things go wrong, you have no recourse to authorities for compensation.
• Potential fraud: Unlicensed entities are more likely to engage in fraudulent activities.
• Funds security concerns: The safety of your deposited funds is not guaranteed.
• Market manipulation: Unregulated platforms are susceptible to market manipulation, harming investors.

Client Feedback:

Numerous negative online reviews paint a concerning picture. Users report difficulties withdrawing funds, manipulative tactics, and unresponsive customer support. These reviews highlight the platform’s potential dangers.

How Can “Reviewsadvice” Help You If You Get Scammed?

While “Reviewsadvice” cannot guarantee recovery, they can offer guidance and connect you with resources to potentially help you recoup your losses. However, it’s crucial to remember that prevention is always better than cure.

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