DLCForex withdrawal issues https://www.dlcforex.com/

By M, from Canada, April 10, 2022 at 08:39 AM

Hello, I requested to withdraw $50k USD from my trading account, broker came back and said that the funds were frozen due to risk control, because of my receiving money wallet address. They asked me to deposit 30% more of withdrawal money to unfreeze the money prior to sending it again and they said if I don't deposit within 10business days, my all money will be frozen forever, I will never can take it out. Can you advise what should I do? I have been contacting with customer service via Live Chat on DlcForex website listed above. My account is through DacLand Capital Limited. On their website it showed license number for Dacland capital Limited, can you please also verify their license? Thank you!

Answer: Hi M,

Unfortunately, we cannot confirm the regulation of the DLCForex broker, simply because the regulatory information does not have a direct connection to the broker and the similarity of the brand names could be the only common thing. There is no other proper information provided on the broker’s website, there is no address/headquaters location, contact numbers or ways of contacting the team besides the support email. These are the red flags and each trader should pay attention to such things. The ASIC regulation document does not actually confirm brokers regulation, as we do not see any connection there. In you case, it seems like this DLCForex broker is a clone firm that uses a name of the well-regulated company to delude potential traders. Also, unfortunately, there is a small chance of getting your money back. We would recommend you to report to your local regulatory authority to investigate the issue further.

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