boiler room scammer brokers

Let's have a look at this supposed broker site allowing you to trade online: https://onlinetrading.c Online ForEx Broker

Let's have a look at this supposed broker site allowing you to trade online:

OK so the name is lacking in imagination to the point of madness, but that is not necessarily a bad thing. 

The market values appear legitimate but are taking their feed from which means that they presumably do not have their own markets links and therefore are not a real broker.

There is also something else wrong with this site. Where is the company name, the registration number, the VAT or other tax ID, the regulation certifications? This site is completely wrong from the start and does not appear to have any of the required credentials for doing business in the modern world.

Who are

This is the important question -

  • Who are they?
  • Where are they based?
  • Who regulates them?
  • What is their company registration number?
  • What is their registered company address?

All of these questions should be easily answered just by looking at the bottom of their website, but there is nothing there....?

Just an 'All rights reserved' sign with last years date. This is a big red flag!

Well we need to have a look at the terms and conditions to get some answers then...

Oh, but wait a minute, the T&Cs appear to be for a website called who seem to have been closed down:

This is another huge red flag!

And they are a cloudfront site. This is very typical of boiler room scammers - they all use a proxy to hide their real location and IP addresses.

Not having your T&Cs allotted to the correct legal entity is a sure sign of fraud.

The only connection to any company we have found on the entire website is here:

Where they appear to be associating themselves with this broker: who have the following to say at the bottom of their website.

Risk Investment Warning: DBFX is a brand name of DBFX LIMITED, a registered, authorized and regulated company by Vanuatu Financial Services with license 40133. Trading in financial instruments may result in losses as well as profits. Past performance does not guarantee future results. trading in derivatives (e.g. options, futures, and swap contracts) could result in the loss of the whole capital invested. forex, CFDs and derivatives are leveraged products and involve a high level of risk. Trading in leveraged instruments can result in losses greater than the initial invested capital. ensure you fully understand the risks involved and seek independent advice if necessary, taking into account your investment objectives and level of experience. You should not risk more than you are prepared to lose. Never risk medical and other emergency funds, retirement savings, funds set aside for purposes such as home ownership and funds required to meet your living expenses. Please read our Client Agreement and Risk Warning carefully before conducting any trades.

DBFX does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. DBFX Limited is not a financial adviser and all services are provided on an execution only basis and provide just the Technology.

This site is operated and owned by DBFX Limited, 1276 Kumul Hwy, Port Vila, Vanuatu. A licensed security dealer, incorporated under registered number 40133 by VFSC.

We don’t accept onboard residents from the USA, UAE or FATCA sanctioned countries

We do not know the regulations of Vanuatu but this company is not regulated in the UK, Australia or EU. There are a lot of FX traders based there so it is obviously a relaxed set of rules as Titan FX are just down the street.

We do not recommend this broker and suspect them to be boiler room scammers. Do not invest!


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