DLA Capitals – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
DLA Capitals - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2020
The account types offered by DLA Capitals are:
- Basic: You need to deposit at least $500 to use this account.
- Premium: The minimum deposit you have to make to use this account is $1,000.
- Pro: The minimum deposit you need to make for the use of this account is $5,000.
The maximum leverage ratio offered by this broker is 1:1000, but we were not able to access their platform to find out what the spreads offered by them are.
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: www.dlacapitals.com
Founded: 2020
Regulations: Unregulated
Languages: English
Deposit Methods: Bank/Wire Transfer, Bitcoin
Minimum Deposit: $500
Free Demo Account: Yes
Number of Assets: N/A
Types of Assets: Foreign Currency Pairs, Indices, CFDs, Stocks
Trading Accounts and Conditions
The account types offered by DLA Capitals are:
- Basic: You need to deposit at least $500 to use this account.
- Premium: The minimum deposit you have to make to use this account is $1,000.
- Pro: The minimum deposit you need to make for the use of this account is $5,000.
The maximum leverage ratio offered by this broker is 1:1000, but we were not able to access their platform to find out what the spreads offered by them are.
DLA Capitals – Advantages
We did not see any pluses for investors trading with DLA Capitals.
DLA Capitals – Disadvantages
Here are the disadvantages of trading with DLA Capitals:
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Anonymous, Unregulated Brokerage
Despite going through this broker’s website in great detail, we were not able to find any information related to the entity that runs DLA Capitals. There is no company name, no address, no information on registration and no phone number. This entity is absolutely anonymous!
And because this broker is completely anonymous, we can say for certain that it is unregulated.
Dealing with such a broker means that you do not have any protection from the government against being scammed or even broker bankruptcy. You will not be afforded protection such as account segregation, negative balance protection, minimum capital requirements which ensure broker liquidity, or even compensation schemes.
In fact, such brokers are always scammers and it is best that you avoid any contact with them.
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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MT4 Platform Not Accessible
DLA Capitals claims to offer the MetaTrader 4 trading platform. The MT4 platform is the most favored platform for traders because of the many features it offers for making trading more effective. You get charting tools, market analysis options, algorithms for automatic trading, pending orders and so on.
DLA Capitals states that it offers this platform in both desktop as well as mobile versions. To download the software, you need to first register and enter the client area. However, once you log off there is no way that you can get access to the client area again. Our password did not work and we were unable to reset it despite many attempts.
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Extremely High Leverage Ratios
The maximum leverage offered by DLA Capitals is 1:1000, which is extremely high. Leverages come hand in hand with high risk. Inexperienced traders are can lose not just their deposits but much more when they trade with high leverage ratios.
This is the reason why most regulators across the world have placed a cap on the amount of leverage a broker can offer its customers.
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High Minimum Deposit Amount
To open a basic account with DLA Capitals, you need to first deposit $500. This is twice the market average, where most regulated brokers allow their customers to make deposits that range between $100 and $250. In fact there are some excellent brokerages that require you to deposit minimal amounts that can be as low as $5.
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Suspicious Deposit Methods
The only ways in which you can make deposits in your account with DLA Capitals is via bank or wire transfer, or through Bitcoin. This is highly suspicious since both these methods are irreversible transactions. That means that once the transaction is complete there is no way you can file for a chargeback. When you are dealing with an anonymous brokerage such as DLA Capitals, it is never a good idea to have no way to get your money back.
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Unfair Withdrawal Conditions
DLA Capital has some very unfair withdrawal conditions in place. If you wish to withdraw your funds, you have to meet a minimum trading volume target. And that target is ridiculously high. For every $2 you deposit, you need to trade one lot. It doesn’t sound much until you actually do the mathematics. If you deposit $1,000, you will need to trade a massive $50 million to be able to withdraw your funds!
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Unfair Dormant Account Fee
DLA Capitals has a Dormant Account fee, which is not unusual, since most brokers charge a small fee if your account is not being used. What is unusual is the structure of this fee.
This broker states that if you do not use your account for 14 days, then a penalty of 30% will be imposed on your account every month! This is seriously unfair condition, especially when you consider that legitimate brokers charge a minimum fee of about $20 only if your account has been inactive for 6 months or more.
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Very High Minimum Withdrawal Amount
The minimum amount that you will be allowed to withdraw is $10,000 for a wire transfer and $25,000 for Bitcoin withdrawals. This is just an unheard-of amount! Most brokers allow you to make minimum withdrawals of $250 or even lower.
- Broker Offers Bonuses
We have come to associate bonuses with scammers for good reason. The come with clauses that make it impossible for you to withdraw your funds. You are expected to meet an impossibly high trading volume turnover, and if you don’t then you are not allowed to take your money.
And sure enough, DLA Capitals also offers trading bonuses to its customers and you can read through their Non-Deposited Funds clause to understand how unfair their bonus conditions are.
Conclusion
DLA Capitals is an anonymous broker that is a scammer. Everything we have found out about this broker clearly tells us that if any trader invests their money with this broker, they will never see their money again.
We strongly advise all traders to not do business with DLA Capitals.
DLA Capitals
Pros
- None
Cons
- Anonymous Unregulated Broker
- MT4 Platform Not Accessible
- Extremely High Leverage Ratios
- High Minimum Deposit Amount
- Suspicious Deposit Methods
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.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% 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.