BrokersView Issues New Alert on DUTTFX: Many Traders Report No Money Returned After Forced Investments

In November 2024, BrokersView exposed the unlicensed operations and fraudulent practices of DUTTFX through a regulatory status review and a series of negative client reviews. Since then, we have continued to receive many reports from traders who have fallen victim to DUTTFX's deceitful tactics, which adds weight to the seriousness of DUTTFX fraud incidents.

DUTTFX keeps recruiting employees as scammers to target traders via persistent sales calls

Whether it is recent or previous feedback, victims of DUTTFX have mentioned various fraudsters' names such as Rolex, Zaheer, Vivek, and Abhimanyu, who persuaded them to invest and scammed them.

According to a detailed client report, DUTTFX employs new personnel to relentlessly call and force traders to invest more funds.

Forced investments, no money received back, no answer to calls

Traders have reported that DUTTFX persistently forced them to invest. Once they incurred losses, they were informed that their funds were locked or at risk and that they needed to add more money to protect their investments. In reality, DUTTFX withheld their funds indefinitely and never returned them.

The scammers cease answering clients' phone calls and give absurd excuses when clients realize something has gone wrong.

Fake training and wrong trading advice

Traders also complained about wrong trading positions on the advice of DUTTFX managers, leading to negative account balances and further coercing them into making additional forced investments.

Moreover, as highlighted by the aforementioned client report, the scammers assigned a relationship manager purportedly for training purposes. However, instead of offering proper guidance, they provided erroneous trading advice, resulting in significant margin losses.

All these misleading and deceptive practices by DUTTFX and its associates are simply strategies designed to exploit traders.

Bottomline

Through this new warning piece, BrokersView further unveils DUTTFX's unscrupulous practices and illegitimate activities and once again urges extreme caution against DUTTFX. This unregulated broker continues to target new potential victims, while many existing victims struggle to recover their funds with little hope.