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Dang Kang Review - is it scam or safe?

Dang Kang Review - is en.dk-fc.com scam or good forex broker?

RATING: 1 / 2 REVIEWS Dang Kang
Dang Kang is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit  Min. trade size Max. leverage Spread
Standard  N/A 0.01 1:500 2 pips, fixed

 

Dang Kang International Group (Dang Kang for short) claims to be a UK-based forex broker. It offers trading on the MetaTrader5 via a single account type which we called Standard for convenience.

 

Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with Alpha Financial Group, as the broker appears quite shady and could be involved in scam.

 

 

Dang Kang Advantages

 

Generous leverage, spreads not bad

The maximum ratios offered by Dang Kang are quite high, reaching 1:500. While many traders consider this as a good opportunity for quick and big profits, it’s certainly not for everybody. Keep in mind, trading with excessive leverage does not guarantee better results – in fact, most newbies lose more than they have deposited this way.

 

Speaking of trading conditions, we also have to point out that Dang Kang’s spreads don’t seem bad either. The demo spreads on its MT5 are actually in line with the ones announced on the broker‘s website  - fixed at 2 pips on EUR/USD. Overall, this is the average pricing most fixed-spread-brokers offer.

 

 

Click on the image to view a screenshot of  Dang Kang's demo MT4 in full size.

 

That being said, keep in mind that a number of brokers offer similar or lower spreads. Many of them, unlike Dang Kang, are also duly licensed.

 

 

>> Compare the spreads of top forex brokers <<

 

 

MT5 available

Another possible benefit of using this broke is that Dang Kang offers its clients the popular MetaTrader5 platform. This is a well-developed trading solution, featuring all functionalities of the MetaTrader4, plus some more perks. Both platforms support an algorithmic trading option, which allows you to run automated trading sessions with the help of specially designed, customizable Expert Advisor bots. 

 

 

>> Check out the best MT5 brokers <<

 

 

Dang Kang Disadvantages

 

Not regulated, despite the claims

According to the broker’s presentation, Dang Kang is a brand of Dang Kang International Group Limited, a company allegedly based in the UK. Despite the broker’s claims, this firm is not licensed by the local Financial Conduct Authority (FCA), nor by a similar EU financial regulator, as required by law.

 

 

So, this broker is not regulated and its website publishes corporate information which is deceptive and misleading. This is a serious red flag because it shows that Dang Kang is following the pattern of scam brokers out there. Besides, with no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients.

 

Blacklisted by the UK’s FCA and New Zealand’s FMA

What is worse, we found out that Dang Kang International Group has become notorious and has gotten under the radar of several financial watchdogs. More specifically, the broker is blacklisted by New Zealand’s FMA as well as by the UK’s FCA. Actually, the UK financial watchdog has exposed Dang Kang as a clone firm of the duly licensed DK Finance Limited.

 

 

Both regulators have mentioned a number of domains the scammer uses: http://en.dk-fc.com,

http://en.dk-tnt.com/; http://en.fc-dkg.com/; http://en.dk-fca.com/; http://en.d-fca.com/

 

No CFDs on indices & stocks (on demo)

When we tested Dang Kang’ MT5 in demo mode, we also noted that some popular instruments are not present in its product portfolio. More specifically, the broker offers trading in Forex, as well as CFDs on gold, silver and some cryptocurrencies. Yet, CFDs on indices, commodities and stocks, are not available. This is not a major flaw, but we decided to mention it nonetheless.

 

Min. investment amount not disclosed

We could not find any information about the minimum deposit required by Dang Kang on its website. This is also not a serious disadvantage, and yet, if a broker requires $5k as a start, this would certainly prevent many investors from opening an account.

 

 

Conclusion

 

Dang Kang International Group is just another shady unregulated broker that has gotten under the radar of several financial regulators. It seems to target mainly Chinese investors and falsely claims to be licensed in the UK.

 

As usual, our best advice for forex traders is to invest solely in reliable brokers, duly licensed by reputable financial authorities, such as ASIC in Australia or the Financial Conduct Authority (FCA) in the UK.

 

 

>> A list of brokers licensed by the UK’s FCA <<

 

 

And finally, here are the highlights of the present review of Dang Kang:

 

Pros Cons
Generous leverage, spreads not bad False claims of regulation

MT5 available

Blacklisted by the UK’s FCA and New Zealand’s FMA
  No CFDs on indices & stocks
  Min. investment amount not disclosed

 

Latest news about Dang Kang
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Traders` reviews for Dang Kang

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Scammer

Chinese girl scam with me I don't about stock market she is the teach me I trust her I spend money in dangkang but I loss my money after that the girl block me on wechat I have some balance in dangkang but I don't know why I can't withdraw it really I can't trust any Chinese girl real so bad experience I use my all savings If someone help me to withdraw my money please help me

Ravinder Singh 09/09/2019

Account balance gone

I had money in the account and I woke up one morning to find out that the system traded all my money for me and now I lost all my money I have mailed them countlessly but no response. They are scammers

Chisom Asolukah 09/02/2019
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