In this Dash Trader review we have a look at reasons why this broker should not be considered as legitimate.
What Dash Trader is about
Dash Trader is a broker that will let you trade with cryptocurrencies. However, you will not be buying cryptos directly, you will just trade derivatives (CFDs). This is a specific type of trading that has some advantages but also disadvantages. The important thing is to know what it is about.
Dash Trader has four types of trading accounts with minimum deposits from $250 to $150,000.
The reason is very simple, the broker allegedly is located in Switzerland, but it has no authorization from the regulator FINMA to provide investment services.
Brokerage services are heavily regulated in Switzerland, each and every derivatives broker has to have a license from the FINMA.
We searched FINMA’s register and there is no trace of Dash Trader, which means that it has no license, it is breaking the Swiss law and it is illegal. As simple as that.
To be honest, we very much doubt that Dash Trader is located in Switzerland, we believe that the address on its website is fake.
Why not trade with Dash Trader
We have seen countless unauthorized brokers disappear with clients’ money. People are then left empty handed, because deposits are not insured with unregulated brokers.
With regulated brokers you will get a compensation in case to broker fails, plus regulated companies are under oversight of regulators.
Dash Trader review conclusion
Dash Trader is an illegal broker, because it lacks the license it has to have. Stay away from it!
For trading you should use regulated brokers only and we recommend always starting on a demo account so that you can learn risk free.
Only when you have a solid strategy and you understand the risk, you can start trading with real money.