Scam Brokers

DynastyFx Global – Can You Trust Them?

Chainbits Staff | Publish date: 09/20/2023 (Last updated: September 26, 2023 02:15 PM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

DynastyFx Global - DO NOT TRADE WITH THIS PROVIDER

2.4/10

$100

Minimum Deposit

updated 2023

Try other platforms

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.

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Plus500 Review - Regulated broker

Plus500CY Ltdauthorized & regulated by CySEC

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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://dynastyfxglobal.com

Founded: 2021

Regulations: Unregulated

Languages: English, Google Languages

Deposit Methods: Cryptos

Minimum Deposit: $500

Free Demo Account: Not Provided

Number of Assets: Unspecified – Wide Range of Trading Instruments

Types of Assets: Forex, Bitcoin, Crude Oil, Commodities

Trading Accounts and Conditions

DynastyFx Global does not offer their clients trading accounts. This broker offers their clients Investment Plans:

Bronze Package: The minimum investment is $500.
Silver Package: The minimum investment is $5000.
Gold Package: The minimum investment is $10000.
Diamond Package: The minimum investment is $20000.
VIP Trading Plan: The minimum investment is $50000.

The spreads for all the investment packages start at 1.9 pips. There is no leverage mentioned anywhere and neither are the other trading conditions mentioned.

DynastyFx Global – Advantages

There are no advantages to trading with DynastyFx Global.

DynastyFx Global – Disadvantages

Given below are all the red flags that prove that DynastyFx Global is a scammer:

Unregulated Broker

DynastyFx Global, on their Regulations page, claims to be regulated by the UFSA – the US Financial Services Authority. According to this broker, the UFSA is the single regulatory authority in the United States for forex brokers.

On the same page, the broker also claims to be compliant with the MiFID – Markets in Financial Instruments Directive. The broker also claims that they are approved to work within the boundaries of the EEA – European Economic Area.

DynastyFx Global also states that they are regulated by the Financial Conduct Authority of the UK, the BaFin – the Federal Financial Supervisory Authority of Germany, the French ACP – Prudential Supervisory Authority, the Spanish CNMV – National Securities Market Commission, the Danish Finanstilsynet, and the Italian CONSOB.

All of these claims are all lies! To operate in the US, a broker needs two separate authorizations – a membership with the National Futures Association, and a license from the Commodity Futures Trading Commission. We checked the registers of both these authorities. This broker is not listed with either.

Added to this, the MiFID is a law. So, being compliant with a law is not the same as being authorized to operate by a financial regulator. All the other financial authorities that this broker has listed do not have DynastyFX Global’s name of their databases either.

Therefore, everything that this broker has stated are simply lies. Dynasty FX Global is not regulated at all! And this makes this broker a scammer.

Plus500

$100

Minimum Deposit

Start Trading

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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.

AvaTrade

$100

Minimum Deposit

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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.

Blacklisted by FCA

The FCA in the UK has also noticed this broker’s lies. The authority has blacklisted DynastyFx Global for operating within their jurisdiction without legal authorization. The FCA also warns traders against doing business with this broker, stating that doing so would be dangerous as they are not to be trusted.

No Terms and Conditions

Despite searching everywhere, we could not find this broker’s Terms and Conditions. The broker has a Privacy Policy in place, a Risk Disclosure Policy in place, an Information Security document in place, a Conflict-of-Interest document in place, a Complaints Procedure document in place – but no Terms and Conditions.

The Terms and Conditions document is a legal contract between you and the broker. If this is missing, then you know that you are dealing with a scammer. This is the document that tells you what you can expect from a broker – their terms of service, their fees, their commission structure, their policies, their conditions for using their trading platform and their services and so on. The lack of these documents means that a broker can take advantage of your trust and scam you and there will be nothing you will be able to do about it if you have already signed up with them.

Therefore, if a broker does not have all their legal documents in place, it is a red flag and it would be best to avoid dealing with that broker.

Issues with Registration

After checking a broker’s regulation status, we check their registration process. By registering for an account with the broker, we can get a lot of information about that broker. We can assess that broker’s registration process. We can also access their live trading platform and see if it is all that the broker promises it to be. And we get to see their payments section and their client area.

We did not, unfortunately, complete the registration process with DynastyFx Global. This is because the broker asked for sensitive personal information (copy of our driver’s license and passports) before allowing us to register.

This is a huge red flag. If a broker asks you for such information before even allowing you to access their platform and make payments, then it is a sign of a scammer.

It would be best to avoid submitting your personal data before you have actually checked out a broker properly.

Unknown Trading Platform

We do not know what kind of a trading platform DynastyFx Global has. The broker does not mention anything on their website and since we could not complete the registration process, we could not check for ourselves.

Legitimate brokers boast of their trading platform on their websites and also offer a free demo account to all traders so that they can see what they have on offer. This lack of information from DynastyFx Global tells us that we are dealing with a scammer.

Issues with Trading Conditions

This broker only gives us two pieces of information about their trading conditions – their minimum deposit amount starts from $500 and their spreads are 1.9 pips. The lack of information is the first red flag. And the minimum deposit and the spreads are much too high to be advantageous to any trader.

Single Payment Method

The only way to make payments is through cryptos. This is another clear sign that you are dealing with a scammer since crypto payments are all anonymous and irreversible.

Conclusion

DynastyFx Global is a scammer and cannot be trusted; your funds are not safe with them.