DualTrade Review: Is Dual-trade.com Scam or Legit
DualTrade is presented at dual-trade.com as a trading platform that offers a number of accounts and services. Concerns have, however, been raised as to its legitimacy and operating practices.
Allegations of Suspicious Clone by CySEC
The Cyprus Securities and Exchange Commission (CySEC) has warned investors against contacting unlicensed investment firms. Although not explicitly mentioned in the available sources, the significant absence of licensed regulatory approval against DualTrade raises a red flag. It is advisable for investors to verify the legitimacy of investment platforms against the CySEC approved domains list.
Warning Signs and User Complaints
There are several warning signs and complaints from users related to the DualTrade platform. The offer of ‘free’ accounts is associated with hidden fees, like withdrawal fees and inactivity fees. Furthermore, the absence of regulation-related information as well as the disclaimer’s mention of unrelated entities has built up credibility issues. In addition to this, there have been some suspiciously high ratings on Trustpilot, with most reviews coming exclusively from ‘new’ users, raising the eyebrow and hinting at possible manipulation.
Conclusion
In these conditions, an investor has to be very careful and do all due diligence before engaging with dualtrade or those like it. A broker should check for regulatory status and reputable user feedback to establish a safe environment against scams.
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