Duxa Capital Review

Unauthorized Broker with Shady Trading Accounts

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Published: 05 May 2020

Posted by: Anonymous

Duxa Capital has not mentioned any details about the owners or the parent company. There are no details of the headquarters of the company in any country.

No Registration in UK and Switzerland

Another setback is two different contact numbers which are of the UK and Switzerland. The company has no registered address at any of these locations.

Apart from that, the Financial Conduct Authority of the UK has issued a red flag against Duxa Capital as it is not authorized to provide services to traders based in the UK. In addition to this, the regulatory watchdog has already clarified that there will not be any provision of the Financial Ombudsman Service of the FCA while dealing with Duxa Capital. There is no arrangement of the compensation to the traders in case the company went bankrupt. The same can be verified at ttps://register.fca.org.uk/ShPo_UnauthorisedFirmDetailPage?id=0014G00002TEZjRQAX

The financial regulator of Switzerland, The Swiss Financial Market Supervisory Authority (FINMA) is the government body responsible for the regulation of banking, insurance companies, securities, and stock exchanges. The FINMA does not have the details of Duxa Capital in its regulated entities register. It can be verified at the link https://www.finma.ch/en/

The UK’s Financial Conduct Authority (FCA) and Switzerland’s Financial Market Supervisory Authority (FINMA) does not have any regulation over the operations of Duxa Capital. The contact numbers provided over the website are meaningless. The company does not have any association with the UK and Switzerland.

Lies About Czech Republic Laws

The terms and conditions of Duxa Capital claim that it is to be governed under the Czech Republic Laws.

The Czech National Bank is the regulating body responsible for the registration of the financial markets in the Czech Republic. There is no connection between Dura Capital and the Czech regulatory body. It can be checked at https://www.cnb.cz/en/search/?q=%22Duxa%20Capital%22

Warning by CONSOB

The Commissione Nazionale per le Societa e la Borsa is the regulatory body of Italy. CONSOB has issued a warning against the illegal services of Duxa Capital in Italy. It can be cross-checked at http://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela

Warning by DFSA

The Danish Financial Supervisory Authority is the government authority of Denmark. It is responsible for the financial regulation of the companies of Denmark. The DFSA has released a warning over the illicit operations of Duxa Capital as it is not authorized to provide services in the Denmark region. It can be checked at https://www.dfsa.dk/News/Advarsler-fra-andre-tilsynsmyndigheder

Duxa Capital has established that the company has no physical address at any of the locations in the UK or Switzerland. The mentioning of two fake contact numbers is a faded approach of the company to attract the traders. The company has deliberately mentioned that it is under the regulation of the Czech Republic Laws. There is no registration or regulation of the company under the European region as well. An extension to this is the warning released by the CONSOB and the DFSA.

There is no security of funds while dealing with Duxa Capital. There is no provision of compensation to the traders in case the company went bankrupt. It is an offshore unregulated broker which is not related to any of the regions around the globe. The traders gripe over the standard operating procedures of Duxa Capital. No regulation with any registration along with the absence of any physical address makes it a vulnerable trap for the traders.

Non-availability of MetaTrader and Demo account

Duxa Capital doesn’t offer the much trusted MetaTrader platform. MetaQuotes Software Incorporation released ths trading software in the year 2005 and since then, there have been no setbacks to the platform. It has the best facilities in the form of algorithmic trading, trading charts, automated trading signals are some of the best features of the company.

Duxa Capital has failed to provide the services of MetaTrader to its customers. There is only availability of an online platform. There is no security in trading with the SSL Encrypted and the online trading platform lacks DDoS protection as well. There is no facility for using the platform in downloaded form. The actual trading conditions are far away from the commitments.

If the platform is new, there would have been some help with a demo account. The absence of a demo account with an entirely new online trading platform creates a cloudy trading environment for the traders. Duxa Capital has tried its best to lure the traders but not with its exemplary services, with fraudulent commitments.

No Trading Services and Identical live trading accounts

Duxa Capital is into forex and CFD trading. There is no demo account and there are 6 types of high charging live trading accounts.

  1. Basic Account: The basic account of Duxa Capital starts with the minimum initial deposit of 500 Euros. There are no details about the leverage ratio and the spread offered.
  2. Silver Account: It attracts a minimum initial investment of 10,000 Euros. There is no difference in facilities than to the basic account apart from the advanced charts.
  3. Gold Account: The gold account requires a minimum 100,000 Euros as its initial investment. The useless services like the webinars and trading alerts are provided to the professional traders who are already having experience in the trading.
  4. Platinum Account: It requires an enormous amount of 250,000 Euros of the initial investment. It is no different than to the services provided than in a gold account of the company. It is a catch to attract traders.
  5. Diamond Account: The diamond account of the company attracts a minimum initial investment of 500,000 Euros. Again, there is no change in the services than the gold and the platinum accounts.
  6. Millionaire Club: Duxa Capital seduces high-volume traders by extracting the gigantic initial investment of 1,000,000 Euros from them. Once again there is no change in the services to the traders.

Duxa Capital has failed to provide quality live trading accounts to the traders. There is no idea given to the traders about the leverage and spreads.  There are no details about the exact trading conditions too.

The only thing that is clear from these 6 identical trading accounts is the greed of Duxa Capital in extorting money and then running away with the invested money of the traders.

Deposit and Withdrawal Methods

There is no availability of Skrill as a payment partner to Duxa Capital. This is under the “anti-scam” policy of Skrill. According to that, it has stopped working with unregulated offshore brokers. Duxa Capital only accepts credit/debit cards and bank wire transfer to transfer funds.

There is no clarity of the withdrawal and the deposit conditions. The response time is one week to get the funds transferred from your bank account to your live trading account. There are no details about the dormant fee, maintenance fee, deposit, and withdrawal charges levied by the company as well.

Rarely Updated Website and Social Media

The website of Duxa Capital is https://www.duxacapital.com/

The social media links mentioned in the website of Duxa Capital lead to nowhere but to a single rarely updated Twitter account of the company. It was updated recently in 2019. There are no accounts for Facebook and any other social media platforms.

Duxa Capital has completely failed to understand the value of an informative website and updated social media accounts. It is the best method to get connected to the existing traders. A possible reason is the need to stay away from the negative responses of the customers to save its brand name.

Unreliable customer support

The contact numbers provided on the website are of no use to the traders as they are not the regular numbers of their offices in the UK and Switzerland.

There is no option for live chat with the technical team in case a trader faces an issue. There is no authenticity of the team of experts of the company.

There is zero technical support to the traders in case they are stuck while performing deals at the online trading platform. Moreover, there is no availability of the live chats, phone numbers, and email id. It is highly disappointing and is one of the many reasons why you shouldn’t do business with this fraud.

Conclusion

Duxa Capital has failed to provide quality services to its traders. Duxa Capital is not governed by any financial regulatory agencies. There is no valid proof of the address of the company. The services provided by the company are non-functional and are made lucrative so as to grab money from the traders. I advise you to stay away from these scammers.

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