Darcan Group – Are They Trustworth?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Darcan Group - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://darcangroup.pro
Founded: 2021
Regulations: None
Languages: English, French
Deposit Methods: MasterCard, Maestro, Visa, Wirecard, MasterPass, Visa Electron
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 400+
Types of Assets: Forex, NFTs, Cryptos, Stocks, Commodities, Indices
Trading Accounts and Conditions
Darcan Group offers their clients trading plans; here is what you get:
- Beginner: The minimum deposit is $1,000. Spreads start at 1 pip, there are 100+ trading tools, leverage is floating and you get a 5% Welcome bonus.
- Average: The minimum deposit is $5,000. Spreads start at 1 pip, there are 200+ trading tools, leverage is floating and you get a 10% Welcome bonus.
- Confident: The minimum deposit is $10,000. Spreads start at 1 pip, there are 300+ trading tools, leverage is floating and you get a 15% Welcome bonus.
- Advanced: The minimum deposit is $250. Spreads start at 1 pip, there are 350+ trading tools, leverage is floating and you get a 20% Welcome bonus.
- Profi: The minimum deposit is $250,000. Spreads start at 1 pip, there are 400+ trading tools, leverage is floating and you get a 25% Welcome bonus.
Darcan Group – Advantages
Darcan Group is a scammer and there are no advantages to trading with them.
Darcan Group – Disadvantages
Here are the numerous red flags that tell us that we are dealing with a scammer here:
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Lack of Regulation
The first sign that this broker is not honest is almost complete lack of information with regard to Darcan Group’s corporate identity and regulation status.
With no corporate information, we have no idea what entity operates this online brokerage. There is also no contact information provided. The only way to get in touch with this broker is by leaving your details on their Support page. Thus, we do not even know where this broker is located.
With regard to their regulation, there is no information about their status. There is only a single reference in Darcan Group’s Terms and Conditions section, where the broker states that they follow the laws of Poland in case of disputes. Beyond this, there is no license number or registration number provided at all.
Just to be sure, we checked the online database of the Polish Financial Supervision Authority (KNF – Komisja Nadzoru Finansowego) to see if there was any broker by this name registered with them. We were not surprised to find that there was no broker by the name of Darcan Group listed with them.
All our investigations have shown that we are dealing with an anonymous and unlicensed broker – the worst kind of scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Poor Trading Software
Unlike many of the new scammers who do not even bother with a real trading software, Darcan Group does, in fact, offer their clients a trading software. However, the platform they offer is the most basic of web traders, one that we have seen numerous times on other scammers’ websites. This web trader offers you just the basics of trading – a buy/sell option, a few charting tools and a couple of indicators. And that’s it.
Legitimate brokers ensure that their trading software is the best in the market, which usually means the MetaTrader 4 or MetaTrader 5 platforms. These two market leaders all traders to trade a massive range of assets, and they also get access to a huge line up of trading tools as well as a third-party marketplace.
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Contradictory and Poor Trading Conditions
On their website, Darcan Group provides us with a table in which they have given the trading conditions for the various account types they offer their clients.
However, when you check the client area, you find that the trading conditions are actually different.
The minimum deposit of $250 (which follows a rather illogical sequence in the account type allocation) is rather high; there are a large number of really good brokers who will invite you to open an account with them for less than $50.
Now, the spreads. On their website, the broker states that their spreads start at 1 pip. However, their platform shows that the EURUSD spreads actually start at 3 pips, which is much too expensive and favors only the broker.
As for leverages, the broker claims to offer floating leverages on their website. Floating is a term associated with spreads, not leverages. Leverages are expressed in ratios. So, floating leverages don’t make any sense at all. Upon checking on their platform, we found that the maximum leverage offered by this broker is actually 1:100.
Other trading conditions such as fees, commission, order execution methods, etc. are not mentioned at all.
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Issues with Payment Policies
Besides the fact that their other legal terms are vague and contain no substance, we take special exception to their payment terms, especially their withdrawal conditions.
There was no way we could verify the payment methods that this broker claims to offer (bank transfer, credit card, debit card, wire transfer and others; the broker has not specified what these other methods are). This is because the payment section for deposits was completely unresponsive.
However, once again there is contradictory information in another part of their website. In the FAQs section, the broker states that there are only two ways in which you can fund your account – bank transfers and debit card. So, in the end, we don’t really know what types of payment methods this broker actually has.
With regard to the withdrawal policy, the broker states that there are fees and commissions, but does not specify what they are. We had to check the FAQs section to find out what charges were being applied. The answers in that section were also vague and quite unclear. Bank transfers have a minimum fee of $100 for each transaction. In the same breath, the broker states that they do not charge any fees for transactions. The same information is re-presented for debit card transactions.
Conclusion
Darcan Group is a scammer and cannot be trusted. Your money is not safe with them.
Darcan Group
Pros
- None
Cons
- Lack of Regulation
- Poor Trading Software
- Contradictory and Poor Trading Conditions
- Issues with Payment Policies
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more