Dakken Group Review
When it comes to warnings, it’s best to heed them, especially from regulators such as CNMV. Dakken Group is facing such a warning. Find out more in our detailed dakkengroup.com review.
Claiming to be customer-oriented, Dakken Group has already caused a stir with regulators. The Spanish regulator CNMV already issued a warning regarding dakkengroup.com. Thanks to several complaints from members, CNMV had to step in and protect investors. You won’t get to withdraw even a penny from the store. And that’s why we have to expose the store’s red flags. Learn more in our eye-opening DAKKEN GROUP REVIEW.
A Closer Analysis of Dakken Group
Dakken Group claims to offer a direct window for traders to profit on the about us page. The platform claims to have been around since 2011. These are false claims as there’s no proof of the platform’s existence.
We have a platform that wants investors to take their word for it. The platform fails to take into account that traders talk. And through the interaction with investors, the platform was found wanting by regulators.
First, the platform doesn’t have a clear background and history. The platform also fails to get any clearance to operate as a business entity. We also see a platform that avoids regulation from relevant investing and trading authorities.
All these add to a recipe for disaster for anyone who invests with the platform. After depositing funds, the platform takes over your trading. You won’t get to withdraw from them, especially if you are a newbie.
And that’s why experts recommend using proven investment tools when dealing with cryptocurrency. Go for industry-approved cryptocurrency trading robots that offer meaningful trading conditions.
The promise of getting cutting-edge trading solutions on the platform is false. Instead, we see a platform promising a sophisticated algorithm-based trading platform. Unfortunately, the only helpful feature on the platform is the use of the MT5 trading platform.
Before you invest in any platform, the safest way to protect yourself is to research the entity. Try and get as much information as possible about the platform. It will give you an insight into what to expect once you sign up.
Reading our unbiased reviews is an excellent way of getting to know more about crypto and forex products.
Accounts Dakken Group
Dakken Group offers four investment accounts for investors to use. These include Ripple, Ether, Bitcoin, and Luxury accounts. Each of these accounts comes with several distinctive features. There are also varying features such as leverage and spreads.
Let’s take a closer look at each of these accounts;
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With the ripple account, the platform insists on a minimum acceptable deposit of $250. The account promises maximum leverage of 1:100 and fixed spreads. Members don’t incur account fees or commissions with the ripple account.
For the Ether account holder, you have to deposit $15,000 to get started. The maximum leverage is 1:200, with investors getting a personal account manager. You get a guaranteed stop-loss feature and negative balance protection.
With the Bitcoin account, the minimum acceptable deposit is $100,000. Fixed spreads start from 0.5 pips with a maximum leverage of 1:400. You also get an account manager and trading insights such as indicators and technical analysis.
As the name suggests, it’s the most executive of all accounts. You have to deposit a whopping $1 million to get started. Spreads start from 0.5 pips with maximum leverage set at 1:400. There are no account fees or commissions with this account.
You have to consider some aspects with an investment and trading account. One of them has to be the potential of making losses and vesting period. In this case, the platform puts your trading position at risk.
Apart from the Ripple account, all other accounts offer high leverage above 1:100. And this means you’re likely to lose more when you place a losing trade. As this happens, the platform earns more from your losses.
Some of the trading insights are entirely inaccurate. Members have been complaining about the platform’s failure to offer accurate signals. And this means your trading decisions are erroneous from the start.
Despite claiming to offer professional account managers, these are call agents. The platform hires call agents to act as managers. You get bombarded with their calls urging you to invest in a lucrative open position.
The manager will have their way if you invest with the open position. Days later, you notice that the position hasn’t changed, and your money is gone. Attempts to reach the account manager will hit a wall.
Your next move will be to contact support and insist on talking to the manager. On the other hand, the platform will hide the account manager’s whereabouts. You get claims that the account manager is out on leave.
In the meantime, the platform replaces them with a new manager who claims to fast-track the process. Unfortunately, weeks will go by without hearing a word from the platform. Members eventually give up or lose hope of ever recovering funds from the account manager.
Account opening Bonus
Once you open an account with DakkenGroup, the platform promises a hefty bonus. You get a bonus of 35 and 45 percent respectively. Most investors will jump in all due to the high bonus offered by the platform.
There’s a reason why regulators are against platforms that offer bonuses and rewards. First, such platforms will take your account for ransom. Then, the platform will insist that members pay back the bonus to withdraw funds.
And this goes against every trading regulation. Moreover, it begs the question, why offer a bonus first? The platform only claims to provide large bonus amounts to lure investors into depositing large chunks.
You also get to see several false information regarding the platform. These include claims of having over 100K daily transactions and over one million active trades. The platform even claims there are over 100K accounts opened daily.
Clandestiny Group LLC claims to own and operate the platform. The platform or entity claims to reside in the U.K. We checked with the Company House and found that no such entity exists. There’s also no indication of who runs the platform or the founding members.
And this makes Dakken Group an anonymous investment platform. It would be best to avoid anonymity as recovering funds is near impossible. Only an investigation from authorities and a court order can help you recover funds.
Those who attempt to hire recovery agents end up losing their funds. The platform hides its true identity to avoid detection by authorities. And that’s why we insist on signing up with proven investment entities.
Contact and customer support
Attempts to get help from their helpdesk are futile. The platform wants to control the communication aspect of it. So you have a platform that wants to limit communication to emails only.
Deposit and fund safety Dakken Group
The platform fails to offer any safety net to investors. For example, you won’t get any protection such as insurance cover for deposits made. And this is why we insist that investing with dakkengroup.com is a colossal mistake.
License and Registration Status Dakken Group
You would expect the Financial Conduct Authority to regulate entities residing in the U.K. Dakken Group is not controlled and is facing sanctions from the FCA. It’s best to stay away from such platforms.
After weighing in on all the features, it’s best to avoid investing with dakkengroup.com.
Instead, go for dependable crypto trading robots that offer a better chance of accurate investing.
Feel free to drop a comment or email us with any queries.