DotBig Review – One Big Failure of a Respectable Brokerage

Signals, social trading, advanced trading technology, and many other seemingly attractive features are promoted on this site. Too bad the firm trying to sell these is just another anonymous offshore business with no valid Forex license.

As swindlers spare no one, we have to address the issue of this unlicensed online trading platform before more investors fall victim to the scam. Read all about it in the following DotBig review.

Broker status:	Unregulated Broker
Regulated by:	No license
Operating Status:	Active online trading sham
Known Websites:	dotbig.com
Blacklisted as a Scam by:	N/A
Owner:	DotBig LTD
Headquarters Country:	Saint Vincent and the Grenadines
Foundation Year:	2023
Online Trading Platforms:	Web trader
Mobile Trading:	Not available
Minimum Deposit:	$100
Deposit Bonus:	10%
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	Yes (BTC, LTC, ETH, ETC, DOT, ADA, XRP)
Available Trading Instruments:	Forex, Crypto, Indices, Stocks
Maximum Leverage:	1:500
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	Avoid at all costs and contact us for support with chargeback procedures.

What Does the Legal Information Reveal?

We wish we had anything good to say about SVG brokerage brands that pop up overnight and claim to be able to make traders rich in a matter of days.

The DotBig broker is run by a company with the same name – DotBig LTD. The business claims to be registered with the local regulatory authority, SVGFSA, but they do not appear in the database. Even if they were legally incorporated in this country, no authority would supervise them as Forex providers aren’t licensed in SVG.

Furthermore, the broker isn’t licensed by any other regulator, let alone the premier ones like FCA, CySEC, CNMV, and NFA. Along with CMCapitals, these illicit platforms steal money and disappear. Please choose a regulated portal to trade on instead.

Reputation Built on Lies

User feedback usually provides precious insight into the quality of a company’s services. Many Forex-newbies rely on the information left by others when choosing the right broker partner.

That’s exactly why unscrupulous schemes like this one and Eeyc rely on review-selling networks to artificially inflate their online ratings. Such tactics successfully lead unsuspecting victims straight into these financial traps. For a concrete example of this scam strategy, you can hop over to Trustpilot, Sitejabber, and Reviews.io. You will see countless false advertisements and dishonest DotBig reviews left by fictitious users.

Hand in Hand With Boiler Room

Financial frauds don’t work alone, and neither does the DotBig company. Their most faithful allies are boiler room operators who help gather victims and acquire traffic. Swindlers that mimic financial professionals and investment advisors relentlessly call random targets and convince them to invest in their proposal.

These shady deals are always advertised as unique earning opportunities and promise high passive income, yet never amount to anything.

Anyone Can Get Swindled

Although the con artists will try to convince you about their decades-long experience, we don’t believe they’ve been in the industry for long. Actually, the DotBig site has been active since 2023, so the whole scheme is brand new and anonymous to a wider public.

Still, however, they have managed to deceive quite a number of traders to give them cash, including investors from these countries:

• United States
• Israel
• Ukraine
• Germany
• United Kingdom

Whether you, too, have fallen victim to this scheme or another one, please don’t hesitate to seek professional help with fund recovery. Contact our chat agents for more details.

Web Trading for Rookies

Simplistic web terminals’ performance is not impressive. Fraudulent online trading brands overuse these rudimentary software solutions, which allow modifications and data manipulation, a tactic commonly used by financial cons.

Although the website also promises mobile apps for iOS and Android, the links to them are broken and lead nowhere, so you won’t be able to get a phone app.

Commonly Traded Assets

Surprisingly enough, the trading instruments palette presented in the DotBig Forex trading area isn’t small. However, it definitely differs from what is advertised on the website.

Here are a couple of examples regarding the tradable assets available:

• Forex – EUR/USD. USD/GBP, AUD/NZD
• Stocks – BMW, Porsche, AstraZeneca
• Indices – FTSE, DAX, JPY
• Crypto – BTC, ETH, LTC, NEO, DOT

Uncustomized Account

Even if you don’t have a Promo code and want to join the platform, you can still do so. All you need to do is provide some basic contact information, and you’ll be assigned your new DotBig login. However, there’s no saying about what your live trading account has to offer or what tools you can access.

There is also no mention of specialized account types or packages available. Legal documents only reveal that the minimum deposit requirement is $100.

Favorite Strategy – Hidden Fees

Legal papers clarify that clients are solely responsible for paying all fees incurred and that they may change and vary without prior notice.

In addition, none of these costs are explicitly revealed, except for the $100 inactivity fee if the client’s DotBig account has been idle for longer than 60 days. Anyone who tries to withdraw from accounts without trading activity will pay 20% taxes.

The maximum leverage is 1:500, which could be devastating for newbies. The platform also displays outrageous spreads of 9 pips on EUR/USD.

Should You Accept Bonuses?

Signing up for the platform can bring you an automated 10% bonus on your first deposit. If you aren’t familiar with these incentives, you should beware, as they’re just bait designed to have you invest.

Once your account is credited with a non-deposited amount, you won’t be able to withdraw unless you meet the trading volume requirement.

Why Do Withdrawals Not Work?

Only crypto payments are supported out of several transparent transaction channels promised. That means you will be risking losing everything to these schemers, who can rob you and disappear.

Crypto criminals severely abuse the anonymity that crypto transactions enable. In addition, these fraudsters have more backup plans to prevent all your payouts. Sudden charges, advance fees, and hidden conditions all belong to that group.

How to Report Scam

The DotBig legit status cannot be confirmed as the company provides zero proof of licensing and legal incorporation. Therefore, they don’t differ from any other dubious offshore portal. We strongly recommend you report them to the authorities and immediately seek help with fund recovery.

Our legal advisors and recovery specialists are always at your disposal, so book your free consultation today!