Dubai Tadawul presents itself as a trustworthy company built on transparency. But is this truly the case, and can it be considered a legitimate entity rather than a potential scam? These are questions we aim to address in our review. It’s now up to you to explore and discover the answers.
- Dubai Tadawul General Information
- Registration and Client Portal Review
- Dubai Tadawul Trading Conditions
- Account Types Review
- Trading Platform
- Dubai Tadawul — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is Dubai Tadawul a Scam?
- Legal Information and License
- Dxbtadawul.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Dubai Tadawul General Information
| Website | https://www.dxbtadawul.com/en |
| Phone Number |
|
| support@dubaiisthmar.com | |
| Address | ST ADRRESS Al Nakhil 4044 Riyadh Business tower Shiekh Zayed road – Dubai 17th floor |
| License | — |
| Minimum Deposit | $250 |
| Assets | CFDs |
| Leverage | — |
| Trading Platform | WebTrader |
Registration and Client Portal Review
The official Dubai Tadawul website, in essence, doesn’t offer anything particularly unique. It follows a standard template with the classic black and gold color scheme, and features seemingly generic stock images – all elements we’ve encountered on numerous other websites. True to tradition, this platform is brimming with self-promotion and empty assurances that they are the best in the market, urging users to choose them without question.
The website itself is available only in English and Arabic, with a clear focus on Arabic-speaking clientele. Among the drawbacks, it’s crucial to highlight the severe lack of information about the company itself. Additionally, it’s perplexing that the broker hasn’t bothered to fill the homepage with any substantial content; instead, it predominantly consists of template text like “Lorem Ipsum.”
Dubai Tadawul offers a streamlined registration process that might seem convenient at first glance. All it requires is basic contact details and personal information, such as your full name. Interestingly, the platform does not verify your phone number or email during registration, granting immediate access to the Client Portal.
However, this simplicity in registration should raise concerns rather than inspire confidence. By forgoing these verification steps, the company essentially opens its doors to potential misuse or fraud. It lacks an essential layer of security, making it easier for malicious actors to exploit the platform.
Dubai Tadawul provides a fairly conventional client portal. It offers essential functionalities typical of many brokerage platforms.
- Users can easily manage their accounts, making deposits, withdrawals, and reviewing transaction history.
- Access to basic market analysis tools, such as charts and technical indicators.
- A basic customer support interface, typically for handling inquiries and support tickets.
While these are standard features, they are by no means unique or groundbreaking. Other established brokers often provide more comprehensive tools and resources for traders. Dubai Tadawul’s client portal may leave more experienced traders wanting additional features and advanced analysis tools.
Dubai Tadawul Trading Conditions
So far, Dubai Tadawul hasn’t made a strong impression. Let’s delve deeper into what it has to offer its clients.
Account Types Review
Dubai Tadawul offers three types of accounts: Micro, Standard, and Gold. To start trading, you need a minimum of $250. For the other account types, minimum deposits range from $1,000 to a substantial $10,000. Upgrading to these accounts provides you with “Dairy” market analytics (we assume they meant “Daily”), 24-hour support, and hedging capabilities. Specifics about spreads and commissions are not mentioned. It’s implied that Dubai Tadawul also offers swap-free Islamic accounts.
In general, the trading conditions provided by Dubai Tadawul lack detail and are scarcely described. This lack of transparency is concerning.
Trading Platform
Dubai Tadawul’s trading platform is quite lackluster. It offers a minimal number of trading indicators and lacks many features that experienced traders often rely on. In fact, the platform seems to be quite basic, and it falls short of meeting the needs of seasoned traders.
Additionally, it’s important to note that Dubai Tadawul doesn’t provide a desktop or mobile application for trading. This means that traders are limited to using a web-based platform, which may not be as convenient or efficient as dedicated desktop or mobile applications offered by other brokers.
Dubai Tadawul — Deposit and Withdrawal of Funds
Dubai Tadawul offers several methods for both deposits and withdrawals, including credit or debit cards and bank transfers. However, what’s concerning is the lack of transparency regarding fees and processing times. The broker doesn’t provide clear information about the costs associated with these transactions or how quickly withdrawal requests are processed. This lack of transparency can be a red flag for potential clients who require a clear understanding of the financial aspects of their trading activities.
Verification
Dubai Tadawul requires traders to undergo a verification process. This process involves submitting personal identification and financial documents for review. While the broker doesn’t provide explicit details on which specific documents are needed, it’s a standard practice in the industry to submit documents such as proof of identity (passport, driver’s license), proof of residence (utility bill, bank statement), and potentially information about the source of funds.
Unfortunately, Dubai Tadawul doesn’t provide clarity on how long this verification process typically takes or the specific steps involved, which can be frustrating for traders who want a clear understanding of what’s expected during the onboarding process.
Additional Options
Dubai Tadawul offers a limited range of additional services, which is quite underwhelming compared to what other brokers provide. It promotes features such as VIP support and hedging as unique offerings. However, it’s essential to highlight that most reputable brokers include these features as standard elements of their service without any extra charges.
When it comes to distinctive and exceptional additional services, Dubai Tadawul falls short, and it’s one of the aspects that leaves us somewhat disappointed in our evaluation.
Is Dubai Tadawul a Scam?
Now, it’s time to scrutinize one of the most crucial aspects of any broker – its legitimacy. Get ready; we’re diving into the final segment of our review.
Legal Information and License
Dubai Tadawul, in fact, hints at its origin with its name. Even their contact address points to Dubai. Surprisingly, legal information, which is typically a fundamental aspect of transparency, is conspicuously absent. To delve further, we conducted checks on Dubai’s company registry. Unsurprisingly, no companies under the name “Dubai Tadawul” were found. Additionally, this broker lacks any relevant licenses. It’s evident that trading with unlicensed brokers is a risky endeavor, as there’s no regulatory oversight or protection in place.
Dxbtadawul.com Domain Info
When considering Dubai Tadawul’s legitimacy, it’s vital to scrutinize its track record. The domain registration date provides critical insights, and in this case, according to the Whois service, it was registered on October 12, 2023. This raises a significant red flag, as brokers operating for less than five years often face a higher risk of unreliability. In many cases, they don’t even survive their first year. Therefore, considering Dubai Tadawul’s lack of history, we advise caution and further investigation.
Contacts Review
Dubai Tadawul provides contact information that includes phone numbers, email, and even an office address. However, it’s worth noting that our investigation revealed that this company might not even exist at the stated address. This raises serious concerns about the authenticity and reliability of the contact details provided by the broker.
Furthermore, it has come to our attention that the broker’s phone number was previously associated with another broker, Axia Tadawul. Such a coincidence is indeed unusual.
Pros and Cons
- None.
- Dubai Tadawul lacks regulatory licenses and does not provide clear information about its regulation, raising concerns about the safety of funds and legitimacy.
- The broker provides limited information about its trading conditions, with no clear details on spreads, commissions, or leverage, leaving traders in the dark about potential costs.
- The trading platform offers minimal trading indicators and lacks the essential tools necessary for more sophisticated trading strategies.
- Dubai Tadawul has a brief operating history with its domain registered in October 2023.
- The provided contact information includes a suspicious address in Dubai that cannot be verified, and the phone number has connections to other unrelated brokers, adding further doubts about the broker’s legitimacy.
Dubai Tadawul appears to be a highly questionable broker, and we would even go as far as to label it as potentially fraudulent. Naturally, such companies should be avoided at all costs. Traders are strongly advised to steer clear and explore more reputable alternatives for their investment needs.
Frequently Asked Questions (FAQ)
Dubai Tadawul’s offers usual CFD-trading.
The minimum deposit to start trading with Dubai Tadawul is $250.
No, Dubai Tadawul is not safe. It appears to be a completely fraudulent broker. We strongly recommend avoiding any engagement with this entity and advise traders to explore more reputable and trustworthy alternatives for their investments.
And how do people fall for this?
I can’t understand how anyone could place their trust in such a disgraceful, blatantly fraudulent, and illegal brokerage operation. It’s not even as if this scam manages to deceive or swindle people out of their money; it doesn’t even do that. The scammers have created a website that is uninformative and generic, where they don’t even lie about licenses or a long history in the field. How could anyone even contemplate opening a brokerage account here, submitting their verification documents, and then depositing their hard-earned money? Handing over your personal information to scammers and giving them the money you worked so hard for is just absurd. In my opinion, it remains a mystery, and I can’t find an answer. Alternatively, scammers might actively seek out their victims, for instance, by cold-calling from leaked phone databases, identifying individuals they can manipulate, and ultimately coaxing money from them. Well, if that’s the case, then you’re aware that if a broker contacts you first and asks for a deposit, that’s also a scam, right?