WikiFX Scam Alert: CONSOB Warns Against Dakken Group!!!

Investors who are still trading forex at Dakken Group had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First of all, let us start with the most important - the Italian financial regulator CONSOB has issued an official warning on October 24th against Dakkengroup.pro, run by Clandestiny Group Llc, and has blacklisted this specific website. You may check the screenshot below:

It states that the firm has been offering its services on the markets of Italy without the necessary authorization by the regulator, which has then blacklisted it. Such a warning is a definite proof that we are dealing with a scam!

What's more, WikiFX also found that previously Dakkengroup.com, which is run by Clandestiny Group Ltd, was blacklisted by the Spanish financial watchdog, the CNMV. If two respected financial regulatory bodies have considered the broker dangerous enough to issue a warning on it, you should definitely think twice before investing any sort of money!

WikiFX also paid a visit to the broker‘s official website to learn more. Dakken Group is a broker based in scammers’ favorite location for setting up companies – namely, St. Vincent and the Grenadines. It is a country that does not regulate its Forex markets. Naturally, this has turned it into the scam haven. Dealing with unlicensed companies from there is incredibly dangerous!

Furthermore, DakkenGroup.pro promised access to the popular trading platform MetaTrader 5. However, when WikiFX opened an account, all we found was a simple web-based trading platform. While such platforms are a decent enough trading solution for beginners mainly because they are functional enough while also being easy to use, they are far from the best software out there.

The spread WikiFX got on their platform was 3 pips on EURUSD – double the standard 1.5 pips you will find in most brokers offers. Such spread will have you pay $30 to the broker for every lot you trade – excluding additional commissions. This spread will positively destroy your chances of turning any sort of profit!

In addition, DakkenGroup.pro mentioned charging some enormous withdrawal fees – $50 for wire transfer withdrawals, $25 for credit/debit card withdrawals + $10 processing fee, and $25 for ePayments. Accounts that have not been verified or reached a turnover of 200 times the deposited amount will be charged an additional 10% fee.

Dakkengroup.pro also issues bonuses, which are then bound with the following clause. If your account has been credited with a bonus, that bonus and any profits it has helped you gain will be considered non-deposited funds and can only be withdrawn after you reach an enormous turnover – 25 times your deposit plus the bonus. However, it is impossible to determine if certain profits were the result of a bonus or of your own deposits. This is simply a way for the scammers to prevent you from withdrawing – often enough, these turnover requirements will only grow with time.

Now let's search “Dakken Group” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, Dakken Group currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in Dakken Group. The so-called brokerage is actually a scam website, which has drawn the ire of the Italian authorities, who warn against using its services. Dakken Group is completely unregulated and a big risk to all investors and their money!

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.