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DaxMarkets.com Review Visit site

Updated: Aug 8, 2018
0.954 · 15 REVIEWS
Is this your company?
June 2018:  There is an FPA Traders Court guilty vote against this company.  Unless this issue can be resolved, the FPA recommends a high level of caution dealing with Dax Markets.
December 2017-January 2018:  Multiple fake and highly suspicious positive reviews submitted for DaxMarkets.

DaxMarkets is a forex broker. Dax Markets offers the Web Trading Station forex trading platform. DaxMarkets.com offers over 65 forex currency pairs, indices, stocks, commodities, cfds, gold and silver for your personal investment and trading options.

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Case IDFiledCase nameVerdict
2018-0932018-05-30Sengwabm vs daxmarkets.comguilty

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0.954 · 15 REVIEWS
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Eung Sub Lee,
Singapore, Singapore,
Aug 6, 2018,
Registered user

Big scammer

Daxmarkets !! This company is really original scammer.
There are very good beginning. But later want money back or stop trade , There are start very dirty, There want only more money(Trade volume or margin loan).
I'm also start $250, after more deposit until total $25,118. I want return back 50,000.
This time they start so dirty , Must cover the trade volume $18,792. etc ..
After change other scammer name is Jack Lamboli call me and must cover the trade volume. This Daxmarket is very Big scammer. I told him you are the so young man how come so early doing this kind scam. He said he want police report, I told him very good must carry on, I want see your face in front police.
He sent to me again email. he don't have time go to police. this kind email to me.
We are must gathering together fight to them better.
Conroy56,
George town, Cayman Islands,
Jul 22, 2018,
Registered user

Scam

I joined Daxmarkets thinking I could make some money. I deposit $250 and then I was told to borrow $3974 to invest and I would make a very good profit. Based on what I saw on daxmarkets site it showed that it made a very good profit. I was told that I could get some money from the investment if I paid back the loan from daxmarkets.

I was also told that if I paid the loan and not take any money for two days they would invest again and I would get even more on the money so I did. It look very good after the two days.
I then requested some money from daxmarkets and was told that they invested more than they were to invest and went over by $1400 and if I paid the $1400 I could get the money I requested plus the $1400 back so I send the money. Now I'm in a bind and cant get any money. They send me a letter to sign to say they didn't do any trade on my account. I need the money. I need to pay back the loan I borrowed I was on vacation in Jamaica and had no money because I send the money I had for my vacation to daxmarkets and I told the man (Jake) that when he called.
Now no one call me anymore and there's no more trading on the account
Sengwabm,
Polokwane, South Africa,
Jun 16, 2018,
Registered user

Dax Markets to be avoided

Issue escalated to Traders Court Sengwabm vs daxmarkets.com | GUILTY
Dax Markets are professional scammers cannot be trusted. I am a victim of this company. They took all my money and kept on telling me everything will be fine. They speak with soft voice just so that you can can think they are genuine brokers. But once they have your money they play you like a pawn. Jake Lombardi, Mark Hunt, Alice Stern and the rude one Alex Mattson.

May 26, 2018 - 1 Star Dax markets scammed me of my money I deposited$12500. When I wanted to withdraw I was told I had to pay a trading volume of $3940. Now they have down traded my account without my permission and lost all my money. Now they are telling me to pay insurance of $8300. So that I don't loose all my money. If not I can withdraw $94. Has anyone managed to get their money from Dax markets?

More. Community discussion of this issue >>

Klaas,
Lelystad, Netherlands,
May 8, 2018,
Registered user

Started in September 2017 with € 250 and € 250 bonus and later a marginloan of €4200 which was replaced by a deposit. I have met the required volume

I started with 250 and a bonus of 250 in September 2017, the first contact was David King. On 7 Oktober an Account Agreement was signed by Alice Stern, head of legal department and me. She added 4200 as margin loan tot my account and Alice traded by herself and the account went u to about 12K.
After a while Alice was replaced by Alex Mattson. He sent a new Agreement, signed by him and the head of legal department. Together we did som trades. I deposited € 4200 to replace the margin loan. In Januari 2018 Alex was replaced by Peter Larson. Due to the margin loan and the bonus I had to reach a trading volume of 135K, Peter told me. Peter is replaced by Max Baker my current accountmanager. In order to fulfil the trading volume we started together to trade CFD. Later he advised me to trade binaries 60 sec. I was rather successful, I made more volume than the required 135K and my account went up to over 300K, but withdrawing was impossible. They sent me an ACCOUNT DISCLAIMER AGREEMENT confirming that the account will be closed permanently and confirms that I had received al requested services and no further compensations can be claimed. My addition: this Agreement becomes effective after the current balance € 316520 will be received on my bankaccount. I have signed this and returned on March 14.
Moira,
Tokai, South Africa,
Apr 20, 2018,
Guest

DaxMarkets is totally suspicious and appears to be unscrupulous liars!!

I am not sure what to make of this..I also invested with Toolstrade and was asked to deposit funds into three partner companies, one of which was DaxMarkets.
Jake Lombardi who was appointed my accounts manager, made some small profits for me in the beginning and I deposited some more funds altogether R750$.
Then he called me one evening asking if they could provide me with a Margin Loan of 3,700$ because they wish to do this huge investment in Bitcoin and immediately my profit would be raised to R9,000$, which it was. But then I was told I could only make a withdrawal if the Margin Loan is repaid.

I was upset because its not easy accessing that kind of loan in ZAR. Anyway, Jake continuously re-asssured me that this was not a problem, I would be able to repay the loan almost immediately once the Margin loan was repaid. So, I first obtained confirmation in a letter signed by Jake and the Daxmarket Finance Manager, that once the deposit was made, I would immediately be able to make withdrawal of 6,000$ which I needed to settle some of my loan accounts. I approached a private institution that gave me the loan and I deposited it immediately.

I saw within a day that the Margin Loan amount was withdrawn out of my account but received no response from Jake, just the DOD form from DaxSupport which I had to complete. (this still made it all look very legitimate). but still no response from Jake. I sent him two more e-mails and finally he called me saying that he had flu and was off sick.

When he returned to the office he called me to say that he saw the withdrawal request but if I could give him 3 days, they were going to do a big investment again. I said that's fine as long as I have the money in my account no later than 23rd April. Again Jakes went '"offline'' , no response! I sent a message to the support team wanting them to confirm my withdrawal request and acknowledging the Compliance documents that i have sent simultaneously..no response.

Then I went on the platform and looked under withdrawal and saw that my first withdrawal was cancelled. I submittted another withdrawal request for he same amount. Almost immedaitely I received a call from the Lady calle d Alice Stern, from the Finance Dept, saying that Jake has been suspended because he has made too much profit on my account in a short space of time and the 'system' would not allow her to do the withdrawal unless I made a further deposit of 5,970$. I was devastated and thought I heard wrong! She reiterated that this money would belong to me but to 'liquidise' the account for the withdrawal, this amount simply had to be deposited and all funds would be available immediately, literally on the same day, as these funds belong to me!!

I felt betrayed because now I had no contact with Jake whom I had built up a relationship of trust over the past few months. I sent Alice and e-mail expressing my displeasure at this situation..no response! I then went on the platform and sent her a message after which she called me to reiterate that unless this amount is paid, there is nothing she can do. I tried saying that this is no fault of mine and the problem was on their side because as a professional Accounts Manager, Jake should've known to leave my account as it was and not to trade to my detriment! Nothing I said was important, she was like a broken record, and literally, as a 'bonus' gave me up to 3 months to get the 5,900$, repeating the same sentence! It was then that I decided to check their status and reviews!

When I read what the other investors had to say, my stomach felt like lead! Have we all been taken in by unscrupulous people with no conscience whatsoever, putting others into serious debt that some of us may not be able to recover from, simply because we had built up a relationship of trust with an accounts manager?

At this point in time, I don't know what to do..report this to the police to open a case? have their mobile numbers checked out to see whom it belongs to? Seeing that they are not registered with the Regulator, they must surely be registered under the companies act or something..!

We need to stand together to get our money back, this should not be allowed to be swept under the carpet because it won't go away, they will continue ruining the lives of ordinary citizens!!
mathuna,
Swaziland,
Apr 12, 2018,
Registered user

dax markets scam

scammed by DAXMARKETS.COM. when i tried to withdraw my funds i never got them back. when i tried calling them they refused totake my calls even after numerous attempts.Please help me get my money back.
maxfedup,
South Africa,
Apr 12, 2018,
Registered user

Unite against daxmarkets

I believe all of us that's been scammed by daxmarkets will pay a percentage to the one who can help us "after we got our money back" so lets unite and get someone who can really get to them. lets make a group!! any suggestions?

Feb 20, 2018 - 1 Star cant believe they are still in business scamming people, are people scared of them or just stupid? cum on guys lets shake Alice stern,Jake lombardi,Alex mattson and support@daxmarkets.com out of the tree!!!

Feb 16, 2018 - No Rating I have been scammed by daxmarkets i did everything right what they asked paid margin loan signed their emails etc. After that i lost contact and they blocked my calls and emails cant get hold of anyone. cant we stand together and go get our money back? plz comment guys
Stahl Burghers,
Pretoria, South Africa,
Mar 6, 2018,
Guest

Don,t fall victim to Dax Markets scam

Dax Markets is a scamming lot of British youngsters with phony German accents and a German lady as their marketing agent, also answering the phone in their virtual office wherever that may be.
Do not engage with them, they want your money to play the market, lose it and live with it. Once you have caught on, they will not repay you your deposit nor profits and block your email and phone number.
They scammed me with $8000 and continues to do so. Please see other trader reviews in America and Europe.
Please post account statements and any emails you have from them in the forums discussion thread linked to this review page. I am trying to raise awareness; Scotland Yard, banking in England and the German Bank Protector aswell as the diplomatic core to get results. All I need is details of scanned people to show a trend and victims so they will realise the magnitude.
Venno,
South Africa,
Jan 27, 2018,
Guest

I agree with all the comments
DONT deal with them
They are masters at scamming
They will not allow you to remove your money
All the excuses in the book
Pete,
Johannesburg, South Africa,
Jan 23, 2018,
Guest

Dax Markets there to take you for a ride!

Dax Markets will take all you have in cash. A fake broker. Be warned. They are criminals. Do not be fooled by them!