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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.

Daniil, 23.09.2018
I have never encountered such deception in 60 years of my life. Now I understand why other traders call this broker a forex kitchen. I have a suspicion that this company may work with Russian banks, which provide this company with information on how much money people have in their bank accounts. They tricked me out of 10 million rubles. It is still a mystery to me how they learnt about my savings. I was hoodwinked by this broker during the pension reform. At first, I deposited 60,000 rubles. Yet, in the course of the conversation, they persuaded me to transfer my deposit from Sberbank to their company. It did not last long and in just a month our so-called cooperation came to an end. When I transferred all my money to this broker, it started demanding more and more after a week. I just did not have the money. Eventually, after I had refused three times to pay, they just drained my deposit. For seven months, I had been trying to find a solution or mechanism on how to get my money back. There were many attempts. Besides, I faced many scammers once again. Banks and other state institutions also rejected my requests. I did not despair and every day from morning to evening, I communicated with people from my country and abroad on forums. Luckily, I found the specialists from Switzerland. They helped me get a refund. I will leave their email here marogalis@gmail.com. Contact me as well. I will tell everyone about the refund mechanism. In three months, I got a refund of the money I invested. It was rather difficult to return my 10 million rubles. Be careful, do not let scammers pull the wool over your eyes. Ask me and I will tell you what I did. I will give you a recommendation based on my experience. After all, it took me six months to find experts in this field and 3 months to get my money back.

Aleks Fokin, 12.09.2018
I managed to get my money back after hiring a lawyer. I am sincerely grateful to him for his help! These scammers tricked me out of money and disappeared. They promised extra earnings and tried to convince me to deposit more money to my account after the first deposit was drained. I refused and demanded my money back as I did not actually trade. An analyst, who was supposed to teach me, opened the traders. It is crystal clear that this broker is nothing but a forex kitchen. I did not know what to do. So, I went to a law firm. It took two months to get my money back. Importantly, there is already a whole community of victims. I shudder every time when I think about cooperation with this broker. I also trade with other brokers. Yet, it is rather difficult today to find a reliable and honest brokerage company.

Roman6548 30.11.2019
I got an email with the company's ad link. I studied rather quickly the company’s trading conditions. However, the broker's representatives phoned me every day. They promised me big gains if I opened an account. As a result, I made a €500 deposit. The broker's analyst helped me make a profit of €200 euros. I requested a withdrawal. The analyst discouraged me from withdrawing this sum, but I insisted on it. I received quite a rude answer that if I made a withdrawal, my account would be closed and I would lose everything. So, this was the moment when I smelled a rat. I made a request for withdrawal. My personal account was blocked. I opened a new account from my phone to make sure there were no bugs. The website worked perfectly. Stay away from this fraudulent company or you will lose your money.

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.

Conclusion

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.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Norman | วันที่  2021-02-09
When DAX100 contacted me, their sales representative briefed me about their company. Then, on the second call, a professional called me and told me that he will be my account manager if I start an account. He sounded smart and seemed like he really knew what he was talking about so I was easily convinced. I deposited a hundred dollars but after that, I was never contacted by any of them again.
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Author: Buen | วันที่  2021-01-28
DAX100 gains their clients by calling them and offering lucrative trading conditions. They called me as well and I must say that they sounded believable, I almost fell for it. But I did my research and I discovered unpleasant reviews towards the broker so I decided to just ignore them. They tried to reach me multiple times more but I never answered. I feel sorry for those who have been deceived.
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ผู้แต่งของ how_to_fool_traders_of_their_money: Jules | วันที่  2021-02-18
I will not deny that I made a mistake when I trusted the representative of DAX100 so easily. I was not critical and I hastily made a decision to invest with them. In my defense, I never thought ill of the industry that is why it did not occur to me that there would be fraudsters. Sadly, I had to learn it the hard way.
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Author: Lydie | วันที่  2021-01-22
When I opened an account at DAX100, I was assisted by a Forex expert. I was very happy back then because I no longer need to worry about making a lot of mistakes. For a while he has been advising me on what trades to make and it was getting great results. Then he also kept encouraging me to replenish my account regularly. In total, I invested $2500 on this broker because I kept depositing more. Sadly, the moment I requested to withdraw my money, my account was suspended. Until now, I still can't access it.
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Author: Dzenka | วันที่  2021-01-12
My experience with DAX100 was traumatic. It was like I was being haunted by people because their representatives kept calling me from different numbers. I don't know how they got my number but they kept encouraging me to start an account with them. Of course, I kept declining their offers though, I must say that some were really tempting. But because I have nothing to invest, I kept saying no.
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ผู้แต่งของ how_to_fool_traders_of_their_money: Afiza | วันที่  2021-02-02
This is what they did to me as well. They never stopped calling me. Even after blocking every number that they use to call me, they just keep using another number to reach me. I answered one of the calls and told them to stop calling me already but despite that, they still did not stop. I am glad that I never gave in no matter how much they tried to make me invest in them.
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Author: Priscafx | วันที่  2020-12-28
I hired a lawyer to in an attempt to take my money back from DAX100 but he was not able to do anything. I guess it was too late when I hired a lawyer because the company has been exposed already and they ran away. All I have now is regret for ever letting myself get involved with a fraudulent broker.
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Author: Harshi | วันที่  2020-12-21
I have no idea how DAX100 even got my phone number. They have been calling me non stop for the past month and I already told them that I am not interested in doing business with them but they still kept calling. I even blocked the number but they just called me through a different number again. This kind of company should be avoided at all cost because they will surely just deceive their clients.
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Author: Kisikan | วันที่  2020-12-15
Please, if you do not want to lose your money, just stay away from DAX100. They fooled me and all the other clients. I was lured by the lucrative offers and I did not think hard about my decision. In the end, I only threw away the money that I patiently saved up. Don't do the same mistake that I did. Be extra careful in choosing your broker.
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ผู้แต่งของ how_to_fool_traders_of_their_money: Nessy | วันที่  2021-01-07
I was also a victim. I learned a lot from this experience. I realized that I should not be trusting any company so easily and that I should not be swayed no matter how tempting their offers are. Because they will most likely turn out to be a fraud. Right now, I haven't found a new broker yet because I am being more meticulous in choosing one.
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Author: Kwang | วันที่  2020-12-07
I don't know how DAX100 managed to get my contact details but I don't remember giving it to them. In fact, it was the first time I heard about them when their representative phoned me. And for the record, they are very persistent to the point where they would call me every day even though I make it clear that I am not interested. This is the kind of broker that should be avoided.
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Author: Sagar | วันที่  2020-12-01
I have long been thinking about investing some of my money but I haven't really thought about where to invest it yet. Coincidentally, this is when DAX100 contacted me and offered brokerage services. They had lucrative offers and the promise of gains really tempted me. I opened an account and was making great profits right from the start -- or so I thought. Apparently, the broker made it seem like I was earning well so they could convince me easily to deposit more. Since I already invested everything, I have nothing more to deposit so I declined. When I did, they immediately closed my account. That is only when I realized that I engaged with a fraud.
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