Dex Trade Review: Is Dex-Trade.com a Scam?
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Dex Trade is a trading platform that claims to be operated by EXCHANGE TECHNOLOGIES LTD and claims to hold a license from the Belizean FSC. However, there are various aspects of concern regarding this platform, which include an overall negative rating from users, problems with withdrawal, and a lack of transparency. In this Dex Trade Review, we are going to find out whether the platform is genuine or a scam.
What is Dex Trade?
Dex Trade (dex-trade.com) is an online cryptocurrency exchange handle that gives trading services on an asset such as Bitcoin, Ethereum, Cardano, and Ripple. The platform has a web trader interface and a proprietary trading app, asserting to provide a seamless trading experience. However, there are additional warning signs that suggest traders should exercise extreme caution.
Red Flags About Dex-Trade.com
1. Unlicensed and Unregulated Exchange
This unregulated status is one of Dex Trade’s greatest causes of concern. However, the platform claims it has a license under the Belizean FSC, but there is no verifiable proof to back this claim. Without regulatory oversight, all users remain unprotected against any malpractice by the exchange.
2. Withdrawal Issues Reported
Some of the users have expressed their concerns about withdrawal issues, where funds were blocked without any apparent cause. In one review, a victim said that he lost $250,000 on a cryptocurrency scheme through the platform. This also indicates how risky Dex Trade can be for trading purposes.
3. Suspicious Ownership Details
While they claim that EXCHANGE TECHNOLOGIES LTD operates the platform, there are no records that prove otherwise. The apparent lack of transparency raises serious doubts about who controls the exchange.
4. Poor Website Design and User Experience
Another alarming concern is unprofessional website design. Very atypical of a legitimate exchange, the platform requires all cookies accepted by users before viewing the site. The purple-gray color scheme and generic pictures give the feeling that there has been minimal effort in developing it.
5. Negative User Reviews
The forums and review sites give conflicting feedback to users who have experienced Dex Trade. One user further stated:
“I am a victim of a scam I went through, and my withdrawals blocked. I am a victim of a highly astronomic crypto scam and lost all my funds.”
These comments, therefore, translate into arguments showing that the platform is not good to trade on, as traders have to be on their guard.
FAQ
1. Is Dex Trade regulated?
Dex Trade is an unregulated cryptocurrency exchange which means that if something goes wrong, users have no legal guarantees.
2. Can I withdraw funds from Dex Trade?
Numerous users filed complaints explaining issues of withdrawals blocking their funds without reason.
3. Who owns Dex Trade?
According to the web page, the platform is owned by Exchange Technologies Ltd; however, this has not been proven as of now.
4. Is Dex Trade a scam?
There is no official scam classification, but the red flags-withdrawal issues, no regulation, and bad reviews- indicate that Dex Trade is not a safe platform for trading.
Take Action Today!
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