DCMForex.com Review

Please be advised that at 3:00 p.m. (New Zealand time) on 17 September 2012 Direct Currency Markets Limited (In Liquidation) was placed into liquidation by special resolution of the shareholders pursuant to section 241(2)(a) of the New Zealand Companies Act 1993. Gareth Russel Hoole and Kevin David Pitfield, Chartered Accountants of Auckland were appointed as joint and several liquidators.
After we got this notice from DCM IT's still register with ASIC it is very clear this is a scam take all our money close NZ door and still free to scam other using ASIC. DCM owe over $500,000 ans Asset only over $35,000 what happen to all our money that suppose to sit in SEPARATE account

Beware of DCM this broker may be set up to be scam people basically "robbery" I will take legal action again this broker indefinitely, since i have trade with this broker it been nothing but problem when they decide to move to NZ it should ring the bell this broker try to scam they customers but because i trust them that why i did not close my account then it prove to be a very BIG MISTAKE .

BEWARE of this broker. Initially setup in Australia under ASIC, they operated for about a year and then relocated to New Zealand, giving less than a week's notice via email to customers to close their positions by the Friday, citing "regulatory issues" which they found restrictive. After relocating towards end of 2011, they continued to solicit for funds from clients right up to two weeks ago, and then again an email appeared yesterday to clients, stating this time that trading would be suspended, as "unforeseen market conditions" had affected their ability to meet their financial obligations. All open positions were closed within the hour of that email. The email was sent by their director, Nicholas Dujov, from their company email. In his email, he stated that an external consultant company would be conducting an "operational review", and implied that worst case they might go into voluntary administration, and that even clients' funds might not be protected.

It was also my experience that their accounts email did not function properly (their email server said the accounts name did not exisit) during the last month or so, and only mysteriously worked during certain hours of the day, notably in response to deposit queries.

AGAIN, BEWARE OF THIS BROKER. YOU HAVE BEEN FOREWARNED

I am considering legal action against this broker after results of their "operational review" have been made known.

DCM closed out all open positions today, disabled trading and sent out the email below :-

Dear all valued DCM clients

It is with regret that I have to inform you that DCM has experienced unforeseen liquidity problems as a result of adverse market conditions.

Obviously this situation has a direct impact on the Company's ability to meet its' immediate obligations. Unless the Company can secure immediate additional funding, the Company faces the prospect of entering voluntary administration during this difficult period.

In the interim, I have requested Capital Markets Consulting Limited to undertake an urgent review of all trading positions to ensure an accurate financial position can be established as a priority.

I have also requested Capital Markets Consulting Limited to investigate securing investment partners with a view to trading our way out of this situation.

In the meantime, all trading has been suspended until further notice. All trade positions have been closed.

I ask for your patience and understanding during this difficult time and appreciate you will have concern of the likelihood of recovering funds held by DCM.

I wish to assure you that every effort is being made to protect client funds and ensure that business as usual can be restored as soon as possible.

You will receive further updates shortly.

Yours faithfully

Nicholas Dujov - Founder & CEO


I hope people will not lose their money!!!

Please be advised that in 2011 unauthorised reviews by a marketing employee (no longer with the firm) were posted on the forexpeacearmy site. DCM fully supports the good work done by forexpeacearmy and will continue to do so. We apologise for any confusion and invite all interested parties to independently review and assess the services offered by Direct ?Currency Markets - www.DCMforex.com

Thank you

DCM Management

accession: Their spread is bit large for ECN account. (EURUSD around 2.0 pips average).

hi guys
i have just read the previous post re DCM.
I find the posts very interesting in that i use DCM and have found them to be excellent. The execution sets them apart from the many other brokers that i have used, and it is the execution that i require to enable the EA that i use to make consistent profits for me. I have found that any problem that i have had has always been well attended to.
I would recommend them, and i have, to any serious FX trader

DCM is closing their site and have not been able to open it over 3 week.
Axiomatically, less technical ability and we just can't believe their operation and system.

After trading with a number of aussie brokers that simply let me down with inconsistent services, I can highly recommend DCMforex. Trade execution services have always been very reliable, consistent and very fast. I trade a combination of high frequency EA Robots and manual news trading with excellent results. A good honest trading broker with no gimmicks.

Review Moderation Team Note: 5 Star rating removed. This person also left 5 star reviews under the names Nicholas Dujov, Mark, and Martin Carter.

The FPA has received email from DCM Forex from the same location. Per FPA policy, this review is being set to Zero stars.

The FPA does not appreciate review spammers.

I have finally found a totally transparent, conflict free broker where I can trade unrestricted. I trade a high frequency EA over 200 std lots a day avg. The best and fastest MT4 trade execution I have experienced and a broker that welcomes traders that make money. They offer institutional level services to retail clients and I recommend them to anybody serious about trading.

Review Moderation Team Note: 5 Star rating removed. This person also left 5 star reviews under the names Michael Perlich, Mark, and Martin Carter.

The FPA has received email from DCM Forex from the same location. Per FPA policy, this review is being set to Zero stars.

The FPA does not appreciate review spammers.