Digital Gold Xchange. Full and honest review
We all know that when we are going to use brokers for the first time, that we should gather all the necessary information. This is to make sure that the brokers are legit and that you can use them without any risk. Under normal circumstances, you will find all the trading information, account information and other info that are needed for trading. This is where Digital Gold Xchange comes in. With further investigation, we have a serious problem with them. This is because of a lack of information.
This is one of the few things that we did find out about Digital Gold Xchange. The brokers or company’s information. They are forex and CFD brokers. The different cryptocurrencies that they are offering are unknown.
Digital Gold Xchange is situated in Zurich, Switzerland. They have a valid address, email address and do offer two telephone numbers. This is the only information that we could find about them. There are complaints that they don’t rely to the emails, and it is hard to get hold of them by telephone.
Registration and regulation information
A serious problem is that they aren’t registered or regulated. This is the one thing that every broker should have in order for you to know that you are using a legit broker.
They claim to be registered, but unfortunately, we could not find any information to confirm it. The only thing that we did find is that they aren’t registered at the most popular international companies. And, this also means that they aren’t regulated. When you are using a regulated broker, you will know that there is someone that is making sure that the broker staying legit. And, this can’t be guaranteed with Digital Gold Xchange.
Account and required deposit options
Another problem that we found is serious with Digital Gold Xchange. There isn’t any available information about the account options and minimum required a deposit that you need to pay in order to use the brokers.
If you don’t know this information, how can you decide that this is a great broker and one that will be beneficial to you? This also let one wondering why they are withholding such important information from potential traders. There isn’t any information available at their site or on any other website.
A dodgy website with no necessary information
Now, looking at their website, we found that the website is quite dodgy. Not all the pages are available and there isn’t any necessary information on the site. When you are using brokers, you want to know the different accounts, the required deposit, the available cryptocurrencies, and other essential information. And, there isn’t any of this essential info available.
Was blacklisted by the FCA
This is serious. Digital Gold Xchange is blacklisted by the FCA. For those that don’t know what FCA means, it is known as the Financial Conduct Authority. If a company is blacklisted there, you should know that this is one of the riskiest brokers to use. They aren’t just recommended that you should not use these brokers, they have blacklisted them as illegal.
No available trading terms and conditions
How will you know that you are doing everything according to the trading terms and conditions if there isn’t any on the website? This is exactly the case with Digital Gold Xchange. They are claiming that they have changed the terms and conditions, but it can’t be easily found.
Without any terms and conditions, you can’t trade if you don’t know their trading terms. This can cause your account to be frozen and you losing the money in the account.
Regulators and Digital Gold Xchange
What are regulators saying about Digital Gold Xchange? Regulators don’t recommend that traders are using Digital Gold Xchange for trading. There are regulators that are blacklisted this broker and that are warning against using them for trading.
It is really important to consider what regulators are saying about brokers. And, if they are warning against brokers, you as a trader should take it seriously. They have a reason for blacklisting and warning against traders.
One thing that we found out about Digital Gold Xchange, is that they aren’t reliable and can’t be trusted. There isn’t any legit information about them, besides their address and telephone numbers. No information about their account options or even about the cryptocurrencies that they are offering. You should really reconsider if you are thinking about using them as your broker. There are much better, reliable brokers out there that you can use for trading and get success out of trading.