Financial ServicesForex

Is Dualix a Legit Broker?

Is Dualix a legit broker?

The main question concerning us all. In our Dualix review, we decided to check if this broker is legitimate and if you can trade with it. Is it safe for your funds? To see the answer to these questions and other questions, like leverage, fees, trading instruments, read out in-depth Dualix review 2021.

Regulated by:CySEC
Headquarters Country:Cyprus
Foundation year:2011
Platforms:MT4, Dualix Platform
Instruments:FX, Indicies, Commodities, Crypto, Stocks

Dualix Regulation and Security

Dualix is a brand of a company Maxigrid Limited based in Limassol, Cyprus. The company has CySEC regulation. In June 2020, the FCA canceled Maxigrid Ltd regulation and warned its clients not to trade with this broker.

Another thing we found is that deposited funds are kept on segregated bank account in Lithuania, a tax and a scam haven.

The previous name of Maxigrid Ltd was Agm Markets Ltd, a company that is also operating on the financial market but doesn’t have good reviews. Maybe the reason behind this rebranding is to cover things from the past? Let’s see more about this company!

What Can You Trade with a Dualix Broker?

Dualix broker offers its clients a wide range of trading assets. Clients can trade with all the major currency pairs and a good offer of minors. Also, the broker offers indicies, commodities, stocks, and cryptocurrency trading.

The platform the company is using MT4, along with its own developed web trader.

The leverage the broker provides goes up to 1:30 for currency pairs, while the lowest leverage is for cryptocurrencies 1:2.

Besides the Live account, the broker is also offering a Demo account where clients can practice their trading skills. 

Dualix Accepts Traders from:

On the website of Dualix brokers, it is specifically listed that they do not accept trades from the US. However, they do have some other restrictions. For example, they do not provide CFD to UK clients, and CFD trading with leverage to clients coming from Belgium.

Based on its license, the broker can work with clients coming from the EEA zone. 

Deposit and Withdrawal Methods

The minimum deposit with Dualix broker is 250 USD/EUR/GBP, while the maximum deposit goes up to 100,000. The deposit can be made using debit/credit card, wire transfer, and E-wallets. Depending on the method, funds will appear in the account within 10 business days. Another restriction for Belgium clients is that they cannot fund their accounts using credit cards.

The unusual thing is that this broker requires clients to withdraw funds using the same method they used to make a deposit. If you try to withdraw your funds to your card, for example, and you deposited via PayPal, the broker holds the right to decline your withdraw request. Seems to us like too much struggle, especially if you can prove that all the payment methods are under your name. 

Conclusion about Dualix

Dualix is a brand owned by Maxigrid Limited, based in Cyprus. This broker is operating under CySEC license and can provide financial services only within the EEA zone. However, we did find reviews that show us differently. If you are still not convinced about this broker, more reviews can be found here: globalfraudprotection.com 

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