To have a passive income or to use your capital to the maximum, multiplying it at exchange floors - this is the desire of most users who become participants of online trading. The result is greatly influenced not only by the size of the initial capital, knowledge or experience, but also by the choice of an exchange intermediary. As it turns out, it is very important to choose an honest, reliable broker with a quality platform and a modern set of tools - and this is quite a difficult task. The reason why so many traders fail is because of swindlers, who hide behind bright names and attractive sites. Offering cooperation, shrewd swindlers generously give promises, tell about safety and benefits of working with them. To make inexperienced traders even more confused, swindlers order positive feedback and place it not only on their website, but also on other resources to raise their rating.
To avoid falling for the tricks of fraudsters, it is important to read detailed reviews like this one, learning the actual objective information about this or that project, which offers brokerage services online.
This review is devoted to a certain online project called Dutch Rate. At first glance, the website dutchrate.com looks quite nice and attractive, traditionally describing itself in a positive way.
However, on closer examination this impression disappears. The dubious resource turned out to be low-informative, so it raises a lot of questions, for which there is no one to answer.
The site is presented only in English, but Dutch Rate declares world fame, which already does not sound quite plausible. Navigating the site is not convenient. The user sees more news and general information than specifics, which is necessary for potential customers who plan to invest in the platform.
In fact, the site looks like a typical low-brow advertising presentation of financial services, behind which there are crooks whose aim is to attract and steal as many investors as possible. When reading the site of the project Dutch Rate it could not detect any advantages. All indicative of a clear fraud. Usually, the users of such sites sooner or later join the stream of deceived customers, who have been robbed by a fake broker. Negative assumptions are confirmed by the facts, which are described below in the review of Dutch Rate.
Types of trading accounts offered DutchRate
Surprisingly, on the site of DutchRate online company, which offers the services of exchange intermediary, there is no section or at least the information on the main page, devoted to the types of trading accounts.
Not only is important data about price plans, conditions and other information absent, but Dutch Rate has created such an inconvenient site navigation, that to understand what you have to deal with, you need to re-read all pages, go to every tab.
With great difficulty, clicking one page after another, I managed to find out that the minimum deposit required to enter the trading platform of the broker is $300.
It turns out that DutchRate offers only one option for beginners and experienced traders to start trading. A non-swap Islamic version is not provided.
Not only that such a size of the "entrance tax ticket" is several times higher than the norms typical for licensed brokers with a good reputation, but DutchRate has decided to shock the size of the Max Leverage. Here the ratio is set at 1:1000! These are colossal risks for DutchRate's clients. For example, when issuing licenses, the respected regulators require brokers to set the maximum leverage at a ratio of up to 1:50. At DutchRate, the ratio exceeds the specified value 20 times!
Another alarming red flag and a clear sign of fraud is the lack of information about payment transactions. After checking the Dutch Rate's website I managed to find information about payment systems, but the project managers do not give any tips about deposit or withdrawal process.
It is known that the Forex trading commission is 5 dollars, but the user does not understand the information about the minimum amount of withdrawal and what are the fees for withdrawal.
Under Terms and Conditions, the broker informs that he will make the transfer of funds to the client within 7 banking days after receiving the application, sent through the payment methods specified in myAlpari.
In order to find out information about the deposit and withdrawal methods, you must first register for a personal account on the DutchRate platform and explore the proposed sections. The problem is that not all of the proposed options may be suitable for everyone, but even if a customer refuses to continue to cooperate, his personal data and contacts will remain with those who manage the project DutchRate.
In fact, it was not possible to see the Personal Cabinet, so the list of ways of financing remained a mystery.
All this increased secrecy or, on the contrary, absent-mindedness of the Dutch Rate project managers makes us think that we are faced with a typical fake broker, a real swindler, who has nothing to offer, except for the formulaic information.
DutchRate Trading conditions
Dutch Rate promises its users access to a wide range of financial services. It is a question of actual brokerage services, as well as the opportunity to invest in IPOs, including a range of assets in standard categories: currency/cryptocurrency pairs, stocks, commodities (including energy and metals), industrial indices.
In parallel, this dubious broker warns that the actual profit may be much lower than expected.
In fact there is no more information about the trading conditions of this brokerage project. The lack of information on the site does not prevent Dutch Rate from offering its customers financial participation in the initial joint offering to reduce the deposit to an acceptable level.
There is information about two terminals:
In the "Platforms" section of its official website, the broker brags about offering two trading platforms - MT5 and Heartbeat.
The term of the second platform, the broker calls the program to follow, copying the trades of successful traders.
The role models are promised in a special rating of successful traders on the company's website.
However, we also see that no links to any of these interfaces have been provided. This means that users cannot check the trading conditions on their own.
As for portfolio investments, there is minimal information about them in the public domain. There is a general description of the principles, but there are no details in the public domain, the selection of portfolios is strictly individual, and specific prices need to be coordinated with the liquidity provider.
DutchRate offers to make mythical profits by investing real money in financial markets. Not the fact that the trader is even brought to the real markets. A popular practice of swindlers is to leave clients on their site and draw profitable indicators to show "minus" afterwards and justifiably block the user's account.
DutchRate withholds full data necessary for making a decision about cooperation: what sums the investment project is ready to work with, and on what terms the cooperation will last. But on the main page there are the company's awards.
It is not clear why this dubious project was awarded such a distinction.
Information about the legality of the project is provided in Terms and Conditions.
They assure that they have a license issued in the UAE, at some Business Club. There are no copies of the documents on the site. They are trying to convince that the owner of the project is DUTCH RATE FZE with registration number 3877 and license number 3877. The broker claims to be registered with the Business Club in Ajman, a city in the United Arab Emirates.
The corporate and license information provided is incomplete. In fact, to operate in the UAE, the broker must be regulated by the CBUAE - the Central Bank of the United Arab Emirates. In the regulator's online registry, you can check the relevant license. The check showed that the broker in the registry - the company with the name Dutch Rate, is absent.
This means that this broker lied about being a legally regulated broker.
Also on the website of the UAE regulator, The Independent Regulator of Financial Services (DFSA), no information about the license was found either.
Perhaps there is some secret society that issued a document to this project.
There, in the Emirates, they also give the address of the office.
In the contacts are only the mail, phone number, links to Facebook and Twitter, as well as an online form in which you must first enter your own phone and mail. By the way, in social networks, the publications consist mainly of economic news.
According to the WhoIs domain name verification service, dutchrate.com Dutch Rate was registered on September 23, 2020.
They claim to have entered the market on September 01, 2021. The story is confusing and unclear.
The broker is questionable and unregulated. So traders' funds are at huge risk.
DutchRate Reviews online
There are few mentions of DutchRate online. Some third-party sites mention that the company with this name has a large number of negative reviews. There are stories about how former clients complain about the unprofessionalism of the platform, the refusal to withdraw money - all typical complaints when cooperating with fraudsters.
However, we could not find any real feedback.
It is likely that the creators of the project decided to clean up the rating of their project. This is a popular practice of swindlers in the field of trading. Most likely, DutchRate is no exception.
Safety and security of funds with DutchRate
Cooperation with DutchRate will not bring the desired benefits. Customer accounts at their site can be blocked at any time. The scammers are trying to gain trust, they may even let you withdraw a little test money, and then cheat you big time.
DutchRate is not a broker but a typical online financial scammer. They offer their services as an exchange intermediary without an authorization license and keep the detailed conditions of cooperation in strict secrecy.
On the official website there are no prices and rates for the services, the rules of opening a deposit and withdrawal of funds and most other important terms of cooperation.
The low informativeness and illegal status of the company warns that they are not worthy of traders' attention for their own financial security.