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How to fool traders of their money by phone calls? Ask DAX100
Three simple schemes that DAX100 uses to trick traders and steal their money.
A hasty choice of a broker may lead to very sad consequences. Quite often traders are in such a rush to start trading that they choose any broker which promises big gains. However, gullible investors soon find out that the broker they have picked is not a broker but a common swindler greedy for their money. Sometimes, the scammers resort to psychological attacks in order to deceive traders. What fraudulent schemes DAX100 as well as other fraud brokers apply we will review in this article.
About DAX100 company
We were unable to find out the year of the company's establishment, as well as information about its location and regulatory authorities. The broker's official website lacks the usual "About us" section which gives clients an insight into the history of the company. However, there are a lot of promising offers: fast money withdrawal, support of highly experienced analysts, capital insurance, family-like attitude to clients, and much more.
Well, let us examine how the broker truly treats their clients. After having studied the comments of the company's former traders, we have summed up that most traders complain about psychological pressure from the company’s representatives. While describing the broker, they use such verbs as persuade, promise, vow, and sweet-talk. The client department of the broker did really "a great job". They have cheated so many traders so that it arouses curiosity about how they did it.
Aleks Fokin, 12.09.2018
How DAX100 cheats its clients
We are sure that this scammer has more than one method of stealing client money. In most cases, the company found the phone numbers of potential victims. In the reviews, traders write that they had been receiving annoying phone calls from managers for 3-4 months. The broker’s representatives praised the broker to the skies and promised whole mountains of gold. When the client replenished the account, the broker used one of the following three schemes.
First scheme: analyst's professional opinion
As a rule, the conversation between the so-called highly experienced analysts and novice traders or those who have no experience in trading turned out to be quite a good technique against the latter. The broker offers the help of professional analysts who can point at gainful traders as well as help increase profit. Analysts advise traders to open deals. Naturally, it is not hard to guess that those trades were not profitable and investors lost all their money. Analysts acted surprised, saying that traders should top up their account once again to return money that was withdrawn due to technical failure. After being cheated twice, traders were unable to reach out to analysts or managers. Interestingly enough, beginning traders do not find it suspicious that an experienced analyst would cheat $100, $200 from them. They would more likely invest this money in their own trading to make a solid profit. Now it is clear that the so-called analysts are not analysts at all.
Second scheme: well-thought-out approach for bigger fish
DAX100 uses more elaborate schemes with clients who may potentially make a large deposit. They created the whole show to achieve their goal. They started conducting profitable deals so that the client could earn an impressive amount of money allegedly from trading. However, when traders requested a withdrawal, the broker required them to pay a small commission. Gullible traders deposited additional funds and lost everything – their deposit and the so-called commission.
Remember that you can pay off any commission for withdrawing money from the amount that is already on your account. Decent brokers do not require any additional investments.
Third scheme: common scammers' technique
Sometimes the broker simply uses a time-proven technique when it allows traders to earn $50, $70, and $100. Naturally, traders are over the moon about their first successful steps in trading. The broker offered them to deposit another $1,000, promising that their profit will soar up by 10 times and more. When investors decide that it is time to make a withdrawal, the broker blocks their accounts. They cannot contact their manager anymore. No one calls them five or more times a day anymore. What about special attention to the clients' needs? When DAX100 gets what it needs it disappears from the clients' radars immediately. So, it is pointless trying to contact it.
The first negative feedback on DAX100 began to appear in 2019. In Ukraine, it was charged with accusations of fraudulent activities. However, it just changed its brand name on Daxioma and continued to con gullible traders. There is information on the Internet that the company's website was blocked some time ago, and the broker was blacklisted. We discovered that the DAX100 website https://dax100.org works, but the information provided there (contests, news) has not been updated since the spring of 2020.
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