I was one of the victims of the DuxMarket scam two years ago. It all started during the pandemic when I was looking for ways to make some extra money. I stumbled upon DuxMarket, a forex broker and CFD trading platform that promised high returns on investment. I was hesitant at first, but the account manager convinced me to make a deposit and start trading.
Initially, things seemed to be going well. I made some profits and was feeling confident about my investments. However, my optimism was short-lived. I soon realized that the account manager was constantly pressuring me to make more and more deposits. He claimed that it was the best way to maximize my returns and warned me against missing out on potential opportunities.
It wasn’t long before I started to see the darker side of DuxMarket. One day, I lost $400 due to a sudden change in the spread. When I raised the issue with the account manager, he brushed it off and claimed that it was due to the volatile market conditions. He urged me to continue trading and make another deposit to recoup my losses.
But that was just the beginning of my troubles. As time went by, it became increasingly difficult for me to make any withdrawals. Every time I tried, there was always some excuse or the other. Sometimes they claimed an issue with my account, while at other times they blamed it on a technical glitch in their system. It was clear that they were stalling and trying to avoid paying me.
Eventually, I lost all contact with the account manager and customer support. The website itself became disabled and was no longer accessible. I was devastated. I had lost around $2250, along with an additional $500 in earnings that were displayed on my dashboard when it was still accessible.
I started doing research on this broker and found the Report Scammed Bitcoin’s forex scammer list. I noticed that this broker has been enlisted in their list from the very beginning. In the detail of this scam broker, I learned that they were warned in the USA due to their unregulated activities.
It was only later that I found out that the regulation status of DuxMarket in the US was questionable. It was not registered with the SEC and did not have the required licenses to operate in the country. This made it even harder for me to seek any kind of legal recourse.
I contacted Report Scammed Bitcoin and submitted my case through their online form. They contacted me quickly and provided me with a free consultation on how can I recover my lost money and also recommended some recovery service options to get help.
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They also suggested reading the blogs and guides in their blog section. These blogs were really helpful for me. Meanwhile, I found some other things too.
To make matters worse, I also discovered that there were others. There were many others like me who had lost their hard-earned money to the manipulated spreads and other shady practices of DuxMarket. It was a well-organized scam that had duped countless innocent investors.
I finally realized that I had fallen for one of the classic tricks used by these scam brokers. They lure you in with promises of easy money, get you hooked on their platform, and then make it virtually impossible for you to withdraw any funds. By the time you realize that something is wrong, it’s usually too late.
The experience has left me deeply disillusioned and wary of online trading platforms. I have learned my lesson the hard way and would advise anyone considering investing in forex or CFD trading to exercise extreme caution. Always research, read reviews, and check the broker’s regulatory status before making any deposits. It’s better to be safe than sorry.
