Read our Daq Group review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a daqgroup.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Daq Group is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Daq Group in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Daq Group Review Conclusions
Making the Daq Group review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Daq Group review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
It’s embarrassing for me to confess that I’ve been a victim of this company, that used to be called Coindaq.io, for 7 months. I initially invested up to $13,000 before I wanted out & asked them to return my money. They then ‘established a connection’ between Coinspot & my bank by manipulating me to deposit another $17,000 into it, promising me it would go straight back into my bank account. This didn’t happen & a trader happily chewed through all these funds so I was left with nothing. Now I’m up to $30,000 invested. This happened within 2 hours in one afternoon. Since then, no one has wanted to help me trade & now they’re telling me I need to invest another $10,000 to get my account up & running after telling me I MUST have more money somewhere & I was lying when I say I’m stony broke. Can’t pay my bills, & now going to my bank to see if there’s anything they can do. Don’t do it, don’t invest; they’re scammers & are very aggressive when you say ‘no’.
Lisa Callard
Thank you for this review .
Actually was feeling like they were scammers from almost the beginning, but still went with it and feel stupid now. Initially I invested 250 euro (minimum amount), but later on put another 1300 euro in it(for some reason that sounded fair at the time). The way they communicate is really good and they are really believable at the time, but just found out that my suspisions where true. Just hung up on a conversation with my contact at Daq group and after 2 months of waiting for my money and a lot of frustration and mentioning that to him. He asks me to pay 1300 euro more to buy my way out(he explaines it more difficult) or to stay with them to do 500 trades or more. He says this is requered before you can make a withdrawel request.
Luckely I said no and after seeing this review I know I’m not completely f*****, before when I initially looked up the reviews there was not a single one I saw that was saying they where a scam, so thanks!
Yes.me also 2500 then 2500, pressure to invest more..hung up on them..now phone calls today know the number computer generated…what should i do walk away or see if funds return..not likely…sad state can see others lost more…
Do not invest more… I leaned the hard way & they tricked me into giving them $17,000 more after I wanted out. I’ve been strung along since September last year with only $1,600 back when I bitched & moaned. This type of scam is all over the news now so walk away; you’ll never get it back.
I am also the victim of the same scam, today 15 may 2021, go ta call from DAQ group VP TOM, saying CoinDAQ.io gone under and closed down, as DAQ Group they have taken over the portfolios of that company. I also lost my 6000US$. They are scammers please be aware. I am worried, they will not use my documents I have submitted for anti-money laundering. That can be even worst.
Hi guys can you name who you talked to please?
I think it should be public
Thanks Lesley
just the same as i expirienced i deposited almost 1M and they want me to request to add my credit limit
Please name and shame these disgusting people
Even though they have probably moved on under a different name again 🤬🤬🤬🤬