Dashstamp – Are They a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Dashstamp - 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://dashstamp.pro
Founded: 2021
Regulations: No Regulation
Languages: German
Deposit Methods: Not Specified
Minimum Deposit: Unknown
Free Demo Account: No
Number of Assets: Unspecified
Types of Assets: Forex, CFDs, Cryptocurrencies
Trading Accounts and Conditions
There is no information at all anywhere on this broker’s website about the types of trading accounts they offer. Dashstamp also does not provide us with information about their trading conditions.
Dashstamp – Advantages
There are no advantages to trading with Dashstamp.
Dashstamp – Disadvantages
Dashstamp is a broker that cannot be trusted at all. Here is how we know:
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Lack of Regulation
The first thing we noticed about the Dashstamp website is that it is in German. There is no other language option available. This tells us that they are targeting Germans – but we do not know if they are located in Germany.
On the footer of their homepage, Dashstamp provides us with an address in the UK, and a telephone number is Germany. There is also an email address provided.
And finally, when you check their Terms and Conditions, there is mention of Bulgarian laws, implying that the broker may be based there.
But here is how we know that this information is not true.
First. To have a UK address, a broker needs to be registered with the Financial Conduct Authority, the country’s financial regulator. It is not difficult to check if this is true. All you need to do is check the FCA’s online register. If a company is licensed by them, their name will be listed there. So, we checked the FCA’s register. And we found that Dashstamp is not listed with them at all.
Similarly, we checked the German financial regulator’s (BaFin – Federal Financial Supervisory Authority) and the Bulgarian financial regulator’s (FSC – Financial Supervision Commission) online registers. And we came up with the same results – there is no broker by this name listed with either of them.
All in all, while this broker has not explicitly lied about their regulation status, the fact that they are not regulated is a red flag that tells us that they cannot be trusted.
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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Poorly Constructed Website
Another sign that things are not right with this broker is their website. It is so poorly constructed and lacks basic information that brokers would consider key to attracting customers – information about their trading accounts, trading conditions, types of assets available for trade and so on.
All we see is a lot of general information about the forex, CFD and crypto markets. And there is also the fact that this broker’s website is only in German. There is not even an option to translate this website, even though they have presented us with a UK address.
Furthermore, the content is incomplete, as if the broker was in a hurry to launch their website – without finalizing details.
This is typical of scammers; they are not concerned with details. They simply want to snag as many traders as they can before they are shut down.
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Issues with Registration
The biggest red flag that tells us that we are dealing with a scammer is that we were unable to register for an account with Dashstamp. When we opened the registration page, we found that there was no register button at all! There was no way for us to register!
We assume that this is the time that an interested trader would get in touch with the broker, and their team would then call back and help you with your account creation, in the process also getting you to give them your banking details!
This is a common tactic for scammers – they like to choose their victims – usually novice traders who don’t know anything about the trading world and so are easily conned.
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No Trading Software and Trading Conditions
A clear sign of this broker’s scam is the fact that doesn’t seem to be any trading software available. There are also clearly no trading conditions mentioned anywhere.
On their website, the broker does not bother to specify what kind of trading platform they offer. In fact, when you click on the Platforms link, all you get is more general information about the financial market!
And since we could not register for an account, it really looks like there is no actual trading platform available.
As for the trading conditions, as we said, there are none. We do not know the cost of trading, the risks involved, the order execution methods and so on.
Considering that these are the two key offerings any broker has to make, the fact that they are missing from this broker’s website (and that there is not information about them either) clearly shows us Dashstamp’s scam.
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No Payment Information
In line with a total lack of relevant information, we also cannot find any payment details anywhere on this broker’s website. We do not know what the deposit details are – not even what the minimum deposit amount!
We also do not know what the withdrawal details are – how much can you withdraw at a time, what are the terms of withdrawal, or even how long it takes for a withdrawal request to be processed.
And we do not know what the funding options are.
Based on what we have seen, we believe that once you deposit money – after the broker has contacted you – then there is no way that you will be able to withdraw that amount. After all, there is no way to register for an account – they need to call you for you to open an account with them. At that time, as we said, they will most probably ask you to deposit some funds so that the process can be completed. But since you do not have access to that account yourself, there will be no way for you to withdraw your funds.
It’s a classic scam.
Conclusion
Dashstamp is a scammer that needs to be avoided at all costs.
Dashstamp
Pros
- None
Cons
- Lack of Regulation
- Poorly Constructed Website
- Issues with Registration
- No Trading Software and Trading Conditions
- No Payment Information
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.
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