DemDeals: company reviews in 2022
DemDeals: Reviews of the financial company’s work in 2022
The company DemDeals boasts of its stability and reliability over many years of operation. It promises clients enticing advantages of cooperation. However, there are currently no real reviews from traders who have worked with this broker. Should you trust the broker and register on its platform – we will answer these questions in an independent review.
Domain history check
DemDeals provides a detailed roadmap claiming that work started back in 2019, and the platform has 7,000,000 traders registered from around the world (although in other places it is stated there are 520,000 open trading accounts). The presented statistical data is impressive:
- 5 million trades per day,
- daily trading volume of $90 million,
- 235+ financial instruments.
The company also plans active development and expansion of its geographical reach. However, the absence of official reviews raises additional questions. After checking the domain history, it was found that the demdeals.com site was registered in 2017 but remained inactive for a long time. This may indicate that the creators simply bought an old domain to create an impression of stability in the eyes of potential clients.
The project creators prefer to remain anonymous, possibly due to their reluctance to bear financial responsibility for potential client losses. From the conditions outlined in the company’s internal documents:
- clause 4.9 – the company may refuse to provide services without giving reasons,
- clause 4.10 – transactions may be suspended and canceled without notifying the client,
- clause 4.11 – orders may be fully or partially rejected.
The actual office address is stated in Paphos, Cyprus, although only partial coordinate matching was found on Google Maps. This may indicate that the provided coordinates are fictitious.
The phone number also turned out to be fake, the provided number is made up, meaning that support from employees should not be expected.
Questions and feedback can only be directed via email. Obviously, company employees will respond as long as the client is of interest to them.
Legal aspects
DemDeals claims to take regulations and transparency seriously. Their website states the presence of permits:
- Cyprus Securities and Exchange Commission (document number 704/53),
- International Financial Services Commission (license number 1/427/P5/05),
- Financial Services Commission of the Republic of Mauritius (permit number E2420107421).
Upon verifying this information, it became clear that the company is misleading. The provided licenses are fake. Below is the result of checking the official Cysec website:
Russian traders are also at risk with DemDeals. There are no reviews in the Russian-speaking segment yet, but the company is actively promoting its services in the Russian market illegally, as checks on the Bank of Russia’s licensees database showed. Be cautious, there are no guarantees of fund withdrawals! The country’s main regulator will not provide protection in case of financial problems.
What does the company offer potential clients?
DemDeals is a new financial intermediary that typically does not last long. Such projects are prone to negative reviews and can quickly close. That’s why the company decided not to offer a demo account. From the very beginning, depositing funds is required. Three tariff plans are offered with the following features:
- minimum deposit – $1,000,
- 24/7 support,
- access to trading metals and currencies,
- leverage up to 500,
- instant execution,
- 24/7 support,
- deposit protection.
DemDeals does not disclose the terms of deposit/withdrawal of funds. The payment mode is also unknown, and there are no reviews about it, possibly due to the project’s short lifespan.
Customer reviews
There are currently no reviews online about DemDeals’ services. Users have to rely solely on the company’s representatives’ words. Scammers exploit this and try to deceive potential clients. If you have experience dealing with the company, share your opinion below our article. Tell the truth to other users!
Fraud scheme
DemDeals offers each newcomer a personal mentor. The company claims this is a professional who will help achieve success in financial markets. To lure maximum funds from traders, the first trades may end profitably. This motivates novice traders to increase trade volumes in hopes of profit.
As clients continue to deposit money, everything seems successful, but difficulties arise when attempting to withdraw profits due to hidden fees. By refusing to comply with demands, clients may be blacklisted. The company may also initiate technical issues and reset the entire deposit.
Conclusions from an independent review
The conducted check and analysis of information about DemDeals only confirmed our concerns regarding this company – it is likely an unlicensed financial intermediary. The company has not yet attracted attention online due to its short existence. Scammers actively seek newcomers on social networks and online earning forums. They tailor their approach individually to each victim and seek to maximize their gains. Be cautious, these characteristics are not to be missed by unscrupulous fraudsters looking to take your money.