WikiFX Review: Why do some investors feel upset about DACLAND?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of DACLAND based on the facts.

What is WikiFX？

Table of Contents

1. Evaluate the reliability of DACLAND based on its general information and regulatory status.

A. General Information of DACLAND

B. Regulatory Status

2. Exposure related to DACLAND on WikiFX

3. Special survey about DACLAND from WikiFX

A. Scoring Criteria

B. WikiFX Alert

4. Conclusion

1. Evaluate the reliability of DACLAND based on its general information and regulatory status

To understand DACLAND better, we explore DACLAND by analyzing three main perspectives:

A. General Info of DACLAND

B. Regulatory Status

A. General Info of DACLAND

DACLANDs general info has been shown below:

General Information& Regulation

DACLAND, namely DACLAND CAPITAL LIMITED, was a brokerage that was allegedly registered in China, with its concrete registered address not disclosed.

Market Instruments

DACLAND offers more than 50 trading assets, including Forex, Stocks, Indices, Energy, and Metals.

Accounts & Leverage

Clients are allowed to open an account with a deposit of $1 and various leverage, for instance, the leverage is varying from 1：200 to 1:800. The maximum leverage for the Metals and CFD is 1:200, while the maximum leverage for Forex, Energies, Indices, and urrencies is up to 1:800.

Spreads & Commissions

The spread DACLAND offered is from 0.0 pip, and it does not embrace invisible earnings, the profit is generated by the spread.

Trading Platform

DACLAND provides clients with access to the worlds financial markets through the MetaTrader 5 (MT5) platform.

Deposit & Withdrawal

DACLAND provides various ways to deposit accounts including domestic bank and international bank transfers, BPAY, Skrill, and savings card payments. Whats more, the withdrawal arrives within 1-3 working days, and the wire transfer method deposits and withdrawals generally within 3 - 5 working days.

Trading Hours

We take the Forex, for example, it offers 24-hour online trading.

Customer Support

If clients have any questions, please e-mail info@daclandfex.com within a reasonable time.

(Source: WikiFX)

B. Regulatory Status

What is a Legitimate License？

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.

• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

Is DACLAND legit？

DACLAND is not a regulated broker. Investing in an unlicensed broker is risky for your funds security.

2. Exposure related to DACLAND on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of July 26, 2022, the number of complaints received by WikiFX has reached 26 for this broker in the past 3 months. Below are some of them.

This trader who comes from China claimed that he cannot withdraw. If he insists to do so, this broker will charge a deposit of 50% of the account balance. This is insanely unreasonable. We warn traders to take note of this case.

This trader from the US claimed that DACLAND uses fake promise to lure investors. Eventually, traders cannot get their money back.

This trader from Bangladesh complained that he cannot withdraw.

3. Special survey about DACLAND from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

DACLAND has been given by WikiFX a low rating of 1.14/10.

(source: WikiFX)

B.WikiFX Alert

(source: WikiFX)

For more information, please read this article via this link www.wikifx.com/en/newsdetail/202206158714379839.html

4. Conclusion:

DACLAND is not a trustworthy broker as WikiFX has given this broker a very low score. Due to too many complaints that we received recently, we advise traders to do more research before investing in this broker. After all, an unregulated broker is more likely to take your money away without giving a reasonable response.

If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.