Here is the Daw Fin review to find out whether is DawFin.com scam or legitimate. So, read the below findings to know the truth about this trading site.
About Daw Fin
Daw Fin claims to be a trading terminal that works in accordance to regulatory requirements. It says to be founded in 2019 with over 38890 traders using their platform.
Daw Fin offers a web based trading platform. Minimum deposit to start trading is $150. Leverages extend up to 1:500.
Daw Fin boasts of millions of dollars turnover daily on their web trading platform.
Should you trust Daw Fin?
Dawfin.com is a fake trading site due to the following reasons:
- Daw Fin is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Daw Fin do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
- To confirm that Daw Fin is a scam, it lies about its licensing by the FCA, IFSC and the Financial Service Commissions in Mauritius. All these turned out to be false.
Is Daw Fin Safe?
Daw Fin is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Daw Fin is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How Daw Fin works?
It is risky trading with an unregulated broker like Daw Fin, as most of them turn out to be scams. Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Scammers will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
Daw Fin will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Daw FIn is a shady broker that lies about its regulation. The broker is not licensed anywhere in the world to offer Forex services.
Also the broker provided address at Harz in Germany, which means it is supposed to be licensed by the German authority – something the broker failed to do.
When a company lies about important details in licensing, we don’t trust them to deliver on any of their promises.
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