Note: DACHFIN's official site - https://www.dachfin.com/en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is DACHFIN？
DACHFIN is a broker based in Bulgaria, operating without any regulatory oversight. The absence of regulation poses multiple risks to investors, making it important for clients to evaluate the broker carefully before investing. Without an accessible website, it's harder for users to gain information.
Pros & Cons
Pros:
Cons:
Dead Website: The company's official website is non-functional. This inhibits access to crucial trading information, news updates, and customer support, posing significant problems for customers and potential investors.
No Regulation: DACHFIN operates without any specific regulatory oversight.
Loose Spread: The platform has a loose starting spread of 3 pips for a micro account. Loose spreads may result in higher trading costs in the long run, potentially affecting profitability.
Is DACHFIN Safe or Scam？
Regulatory Sight: DACHFIN is currently operating without regulatory oversight, which means it does not fall under the jurisdiction or supervision of any financial regulatory bodies. It also does not hold any licenses that would enable it to conduct its operations in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Forex: This involves trading currency pairs, potentially from around the globe. Traders can speculate on price movements between these pairs.
Indices: DACHFIN provides the opportunity to trade Indices, which are usually a collection of top-performing stocks in a specific region or sector, allowing traders to speculate on price fluctuations of the entire index rather than individual stocks.
Commodities: This could include a variety of physical goods such as gold, silver, oil, or agricultural products. Traders can speculate on the price movements of these commodities.
Share CFDs: Share Contract for Differences allows traders to speculate on the price movements of individual company shares without owning the actual shares.
Account Types
Micro Account: Suited to beginners or those with limited investment. The minimum deposit requirement to open a Micro account is $250.
Silver Account: More suited to traders who have some experience and are willing to invest more capital for trading. The minimum deposit for a Silver account is $1,000.
Gold Account: This account is tailored for experienced traders or those who have substantial capital for trading and are looking for more advantages. The minimum deposit for a Gold account is $5,000.
Leverage
The Micro accounts and Silver accounts both provide a high leverage of 1:500, which allows traders to hold larger positions than their initial deposit and can lead to increased profits. But Gold accounts provide customers a more conservative leverage of 1:300.
Spread
DACHFIN provides users with different spreads for each account type. The spread for Micro accounts starts from 3 pips, which is relatively loose and can result in higher trading costs in the long run. The spreads for Silver accounts and Gold accounts are respectively from 1 pips and 0 pips, which are more advantageous.
Customer Support
Telephone: They offer phone support which allows instant communication for urgent matters. Their contact number is +41715087095.
Email: They also provide email support for more complex queries or matters that require extensive explanation. The email contact for customer support issupport@DACHFIN.com.
Conclusion
DACHFIN offers different types of accounts that cater to various trading needs, with different leverages and spreads provided. However, the absence of regulation and a non-functional official website are huge red flags that indicate potential risks for investors. We do not recommend users to trade with this broker.
Frequently Asked Questions (FAQs)
Q: Is DACHFIN regulated？
A: No, it is not regulated.
Q: What is the minimum deposit of DACHFIN？
A: The minimum deposit of DACHFIN is $250.
Q: What is the maximum leverage provided by DACHFIN？
A: The maximum leverage is 1:500.
Q: Is DACHFIN a good choice for beginners or not？
A: No, it is not. Due to a lack of regulation and an inaccessible official website, DACHFIN is not recommended for beginner users.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
