review – 5 things you should know about Digitalex review – 5 things you should know about Digitalex

Rating: 1

Beware! is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers. claims that it implements state-of-the-art protection measures to safeguard clients’ funds and their private information 24/7. It also states its platform is innovative, but that’s just a lie as we saw a useless Webtrader that can’t provide anything whatsoever. is a fishy broker, and we’ll show you why we claim so in the following review. REGULATION AND SAFETY OF FUNDS is a mysterious broker that didn’t even leave contact numbers or an address on the website footer. Also, when we accessed its legal documentation, there was nothing to find either- is just another anonymous unlicensed brokerage that’s most likely a scam. Nevertheless, we researched, but in vain, so we can conclude that your funds will be at risk if you deposit with because it’s unregulated.

The absence of regulation actually makes illegal in too many countries worldwide. Recently, pretty much every self-respected jurisdiction imposed Forex regulations as the market grew immensely during the last decade. So, if a brokerage accepts clients from certain jurisdictions, it needs to be authorised to do so.

The screenshot below shows the account types, and if you pay attention to the leverage, you’ll see that the offered ratio is 1:500. Well, that’s more than enough to confirm that can’t be regulated in the EU, UK and Australia (1:30 maximum allowed) or the US (1:50 maximum). In fact, very few trustworthy regulators allow 1:500 and among them is the Swiss one, but it asks the brokers to register as banks and to provide at least 20 million USD in paid-up capital. is neither registered as a bank nor regulated anywhere in the world at all.

Dealing with unregulated brokers is dangerous because they are anonymous and unaccountable. In other words, if you deposit with, some people refusing to disclose their identities will handle your money while bearing no responsibility for their actions. That doesn’t sound right straight from the beginning.

That’s why we recommend only brokers licensed by trustworthy authorities like CySEC or FCA, for example. Due to regulations, the European brokers should keep deposits segregated, which guarantees that clients won’t lose their money if a company goes bankrupt. The segregation also improves transparency, speeds withdrawals up and makes chargebacks easier, to name just a few of the additional benefits. On top of all that, though, European brokers are covered by deposit insurance funds laid down to reimburse clients in case of unforeseen events- CySEC brokers’ clients can get up to €20 000 in compensation, while the British guarantees are even up to £85 000. TRADING SOFTWARE praises its platform, but it’s actually a piece of junk that’s not even close to MetaTrader 4 and MetaTrader 5 in terms of functionality. As you can see from the screenshot at the bottom of this section, you can’t even scale the Webtrader up or down- what a disaster! We mentioned both MTs as they are flagship platforms providing powerful features like Expert Advisors and algo trading. So, if a broker’s platform is not comparable with both, we’ll just advise against trading with it as there are too many legit MT4 and MT5 brokers out there.

The EUR/USD spread revealed by the software is 0.2 pips most of the time, which is an excellent Buy/Sell difference, significantly reducing the costs for trading down ($2 per lot traded, which is in line with the industry standard actually). However, the absence of regulation and the laughable platform just outshine the seemingly favourable spreads.

As for leverage, it’s up to 1:500, but we already discussed what’s the problem with it in the previous section. Avoid! DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit is $5000, or 50 times more than the sum regulated brokers ask on average- $100 to let traders begin with real money. In our humble opinion, it’s not worth sending even a cent to unregulated brokers like, let alone 5K.

As for funding, the single method accepted is Bitcoin, meaning that no chargebacks will ever be possible- crypto payments are final and totally anonymous, so you don’t even know who’s on the other side of the transaction. Well, we don’t need to say that Bitcoins are bad, but when it comes to depositing with Forex brokers, that’s the riskiest method of all.

As for withdrawals, it’s only said that it can take up to 7 days (too much nonetheless). Information about minimum requirements, methods and fees is not available- a major red flag as the brokerage intentionally withholds critical information about its services to the public. Beware!

HOW DOES THE SCAM WORK is an anonymous unregulated brokerage, which is more than enough to put it on the list of suspected scams. That being so, we’ll now quickly describe how Forex fraud usually happens.

So, when scammers get hold of your contact numbers, they’ll approach you immediately, promising the moon and the stars. To gain your trust, those criminals usually pretend to work for governments, financial authorities, banks, reputable companies etc. Scammers will be confident in what they are saying, and if you don’t recognise the warning signs, you may end up depositing. However, just then, the Forex fraud actually begins. Once they have your money, the cons will distort prices and forge fake reports to make you believe that you are on the winning side, manipulating you to start thinking big and consider more deposits.

Gradually, the fraudsters will ask you to increase the size of your investment and will make up stories claiming that you need to fund your account for whatever reasons. Sooner or later, you’ll get determined to withdraw your money, and then scammers will ask you to deposit again because, according to their words, there are taxes and fees that you should pay. At this point, you’ll probably realise that there is something wrong, and when the scam becomes too apparent, the fraudsters will simply cut the communication and disappear. Later, the whole website will be brought down, replaced with a new one so that the scammers can carry on with their criminal activities.


It would be best if you first call your bank to inform it and deactivate your card to avoid getting exposed to additional risks, as the scammers may as well have obtained your details.

Then, call the police, inform the financial authorities, file complaints and don’t forget to spread the word online so that other people can find out about the fraudulent scheme. Still, it’s crucial not to rush trying to reclaim your funds as numerous scams are disguised as chargeback agencies set up to double-scam victims.

Finally, we know it’s an awful experience to get scammed, but please share your story to help protect others!

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