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Who's the regulatory body of DBG?
Onke sishuba
Bolivia
2023-09-21
ANSWER DBG is a fake broker and not subject to any regulatory body.On the website of DBG, it simply refers to its operator as DBG Markets but fails to provide any further details for this claim. It seems to be creating a false impression and misleading the public that it is related to this reputable forex broker. However, no evidence substantiates its assertion and the so-called connection only exists within its website.Despite providing an address in Hong Kong, DBG is not registered with the Hong Kong Securities and Futures Commission (SFC). Furthermore, the German Federal Financial Supervisory Authority (BaFin) has launched an investigation into DBG and warned consumers about it for providing financial and investment services without the required authorization. You can refer to here for the full report.Therefore, BrokersView strongly suggests investors avoid DBG which poses significant risks of fraud and identity theft. There are no rules in place to safeguard the interests of its clients and ensure it follows the regulatory standards. If it goes out of business or absconds, traders engaging with it may not be able to reclaim their money or get compensation. To avoid this disaster, it is advisable to choose a fully regulated broker.
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