Dokeela wants us to think of it as a multi-regulated broker we can feel secure dealing with when it comes to our finances. However, doing so would be a mistake. Actually, this website is just another internet fraud that poses as a reliable source of financial services. Let’s examine in-depth why you should never trust Dokeela with your money and what reliable options you have for making investments in the financial markets.
The regulatory status of a financial services business is the most crucial piece of information. Licensed brokers give comprehensive details on the company that owns them, their location, the jurisdictions in which they are authorized, and the regulatory organizations that keep an eye on their operations. However, you should never rely on information from the internet without first verifying its veracity. Verify the information by comparing it to financial regulators’ records.
Since Dokeela is anonymous and does not identify a corporation even in its fraudulent documents, it is actually very easy to recognize as a scam.
Dokeela claims to have its headquarters in Austria on its homepage, but it also holds licenses from Dubai and Cyprus.
It is stated on the website that Dokeela is licensed in the UK and Australia, among two other jurisdictions.
On the other hand, the offshore zone of Vanuatu is designated as the governing jurisdiction in the Terms and Conditions wording.
It can be seen from a search of all the listed authorities’ databases that Dokeela’s trade name and domain are not being used by any regulated broker. The entire content of Dokeela’s website is false. This phony broker has been placed on the Bank of Russia’s blacklist concurrently.
HOW THEY WORK
You have a lot more reliable possibilities if you have chosen to invest in financial products.
Selecting a company that is regulated by an organization, such as the Australian Securities and Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), the US Commodity Futures Trading Commission (CFTC), or an EU regulator like Cyprus Securities and Exchange Commission (CySEC), is advised depending on your location.
These brokers offer their clients safeguards including negative balance protection and money segregation between the client and the broker. Brokers are also required to take part in guarantee programs in the EU and the UK, which pay out a portion of the trader’s investment in the event that the broker goes insolvent. Up to 20,000 EUR in the EU and 80,000 GBP in the UK are covered by these assurances. The chance of such a bankruptcy is limited, though, because regulators also impose large net capital requirements on businesses, which are EUR 730,000 in the UK and Cyprus, AUD 10,000 000 in Australia, and at least USD 20 million in the US.
We may access a fairly rudimentary web trading platform with limited customization choices and minimal functionality after creating an account. The identical platform has been used by numerous phony brokers that we have come across. Trading software that has been manipulated is being used by scammers to trick their victims into thinking that their money is actually being invested and possibly even making a profit.
A large range of trading software, including desktop, mobile, and web-based platforms, is provided to customers by reputable brokers. In the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the most used platforms. These platforms have become the industry standard due to the extensive features they provide, such as multiple account usage, a plethora of customization choices, the ability to build and deploy bespoke scripts for automated trading, and the ability to backtest trade methods.
A $900 USD minimum deposit is required on Dokeela. You may register an account with a reputable broker, such as one of the top international companies, for ten or even one hundred times less.
We weren’t shocked to learn that Dokeela only accepts cryptocurrency as payment. Most financial scammers use this as their preferred method of payment. This is because, while cryptocurrencies offer a certain level of anonymity, they also prevent the victim of fraud from requesting a return.
While some trustworthy brokers do accept virtual currencies like Bitcoin, they also accept other clear-cut payment options like bank transfers, credit/debit cards, and well-known e-wallets like PayPal, Neteller, and Skrill.
Dokeela states that it provides trading in metals, indexes, commodities, currencies, equities, and cryptocurrencies. However, as said before, the trading that this phony broker offers is equally phony. You should use a reputable and well-established forex broker to make investments in fiat currency.
Dokeela claims that withdrawals are not permitted within a month after a credit card deposit; yet, as we have shown, this dubious broker exclusively takes cryptocurrency. Actually, we have no idea what kind of outrageous terms and hidden costs to anticipate from Dokeela.
HOW TO GET YOUR MONEY BACK
Reclaim Your Finances: Unveiling Tactics to Retrieve Funds from Scammers.
Gather Evidence: Collect all relevant documents, emails, receipts, and any communication with the scammer.
Contact Your Bank or Credit Card Company: If you paid using a credit card or bank transfer, report the scam to your financial institution. They may be able to reverse the transaction or provide guidance on next steps.
File a Complaint: Report the scam to relevant authorities such as the Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), or your local law enforcement agency.
Notify the Platform: If the scam occurred on a specific platform (e.g., social media, online marketplace), report it to the platform’s support or abuse team.
Remember, prevention is key. Be cautious when sharing personal or financial information online and always verify the legitimacy of offers or requests before proceeding.