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Is Dutch Rate safe to trade with??
Patrick
Eritrea
2023-06-26
ANSWER Dutch Rate is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Dutch Rate claims that its website is operated by Dutch Rate Limited registered in Belize and by the Dutch Rate FZE LLC registered in Ajman. As per Belize and UAE law, this trading platform, as a forex broker, must be authorized by the Belize Financial Services Commission (Belize FSC) and the Central Bank of the United Arab Emirates (CBUAE). However, our search for these two companies in the aforementioned regulators' registries didn't yield any results, suggesting that the trading platform is not subject to the relevant regulatory bodies.Additionally, Dutch Rate displays a UK address, but our investigation indicated that it fails to obtain the required authorization from the UK Financial Conduct Authority (FCA) either.Regarding your question, it is not safe to trade with Dutch Rate since it is not subject to any regulation. It is an unlicensed broker that carries significant risks, such as financial losses and identity theft, as there are no rules in place to safeguard investors' interests. Therefore, we highly recommend staying away from unlicensed brokers like Dutch Rate and instead choosing a fully regulated one to mitigate such risks.
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