DualTrade is a dangerous scam trading platform that I strongly urge you to avoid. Available at dual-trade.com, this entity fools unsuspecting traders into thinking they can make money without investing any capital. It further lures them with a fake bonus system promising bonuses of up to 50% of one’s initial deposit.
Read this independent review of Dual Trade to discover how the broker deceives traders into believing they’re making profits. Learn how it traps them with hidden fees when they attempt to withdraw funds, only to disappear after collecting the payments.
| Broker | DualTrade |
| Domain | dual-trade.com |
| support@dual-trade.com | |
| Telephone | +441863440362 |
| Purported Physical Address | 64 Nile Street, London, England, N1 7SR |
Below are five serious red flags that suggest dual-trade.com may not be a trustworthy trading platform despite its claims:
1. Free Trading Accounts With Hidden Motives
This broker claims to offer “free” account types, which sounds too good to be true.
While these accounts may appear enticing, they come with charges, e.g., withdrawal commissions or fees, depending on the account type. Some accounts also attract what we call “inactivity fees.” Brokers impose these charges on traders if their accounts become inactive over a specified period.
You can see a clear pattern of deceit here, signaling a deceptive scheme.
It begins with the broker falsely claiming to have credited your account with a small amount of capital to enable you to start trading for free. The trading software is fake, which means they can manipulate it to make it look like real funds have been deposited.
So you start “trading,” and the software tricks you into thinking you’re making profits while the broker prepares to target you at the withdrawal stage.
The scam unfolds when you attempt to withdraw your so-called profits.
At this stage, the broker demands withdrawal fees and other miscellaneous charges upfront before processing your request. After you pay, they invent more fees or requirements, continuing the cycle until you can no longer afford to pay.
Then, they stop responding to your withdrawal requests and eventually deactivate your account, disappearing with your fees and other payments.
You can read my detailed post here to learn more about this “paying fees to withdraw” scam tactic.
2. Free Accounts Contradiction
On one hand, Dual Trade claims to offer free account types, stating that you don’t need to make any deposit to start trading. The broker even suggests it will fund your account with a small amount of capital to get you started.
On the other hand, it also promotes bonuses that provide additional capital, offering up to 50% of your “initial deposit.” It raises a straightforward question: which initial deposit are they referring to when they claim that no deposit is required since the broker provides the trading capital?
This inconsistency points to a potential scam tactic.
The broker seems to be trying to lure unsuspecting traders by using the appeal of “free” trading. However, it forgets to maintain the false narrative when promoting purported deposit bonuses.
3. DualTrade Does Not Disclose Regulatory Information
Dual Trade claims its physical address is 64 Nile Street, London, England, N1 7SR, and lists a telephone number, +44 1863 440362, suggesting it operates from the UK.
In this jurisdiction, the Financial Conduct Authority (FCA) is the primary regulator for all brokers. Therefore, one should reasonably expect DualTrade to provide its FCA regulatory details, such as registration, license, or reference numbers. However, the absence of this crucial information raises serious doubts about the broker’s regulatory compliance.
In my experience, a broker’s failure to disclose regulatory compliance is often a red flag. Legitimate brokers display this information prominently, as many regulatory bodies require it.
As I mentioned in my independent review of another scam broker, “Order Invest” (order-markets.com), transparency regarding regulatory details is a standard practice among credible brokers.
When a broker avoids providing such information, it indicates they may be unregulated. Unregulated brokers frequently avoid any association with authorities, which is a telltale sign of a potential scam.
I searched for dual-trade.com on the FCA’s online register to verify the broker’s regulatory status. Unsurprisingly, it returned negative results, confirming that Dual Trade is not FCA-compliant.
This outcome further casts doubt about the broker’s credibility.
4. Dual Trade’s Questionable Reference To An Unknown Entity
Dual Trade’s disclaimer mentions an entity called “AlphaPlus,” leaving visitors to wonder about its connection to the broker. Is AlphaPlus the parent company of dual-trade.com, or did Dual Trade copy another entity’s disclaimer text without making proper adjustments?
These are critical questions that any skeptical visitor would want answered before placing trust in Dual Trade.
Curious about AlphaPlus, I searched for it on the FCA’s online register and found one result: a company named “AlphaPlus Windows and Conservatories Ltd,” based in Scotland. However, this company operates in an entirely unrelated industry, specializing in windows, conservatories, and home improvement services.
There are two possible scenarios here:
Scenario 1: Stolen text;
The scammer(s) may have copied the disclaimer text from another website without bothering to replace the name “AlphaPlus” with their own, “Dual Trade” or “dual-trade.com.”
Scam brokers often do this in a careless attempt to make their websites appear legitimate. However, such oversights can be a major red flag, pointing towards their deceptive practices.
Scenario 2: Intentional confusion;
Alternatively, the scammer(s) might have deliberately included the name “AlphaPlus” instead of “Dual Trade” or “dual-trade.com” to create confusion. This tactic could lead visitors to believe that AlphaPlus is connected to Dual Trade.
By checking the FCA online register and finding a company called “Alpha Plus Windows & Conservatories Ltd,” you’d think it’s associated with “AlphaPlus,” mentioned in Dual Trade’s disclaimer section. Eventually, you may conclude that both the three entities, “Dual Trade or dual-trade.com,” “AlphaPlus,” and “Alpha Plus Windows and Conservatories Ltd,” are linked.
5. Questionable DualTrade Reviews On Trustpilot
I noticed that dual-trade.com has a high Trustpilot rating, boasting an impressive average of 4.9 stars from 159 reviews. However, there’s something odd about these ratings: 96% of the reviews give the broker a perfect 5-star rating, 3% rate it 4 stars, and only 1% give it a 1-star rating.
These overwhelmingly positive reviews seem suspicious, especially the 5-star and 4-star ratings. All the reviewers have a history of only one review on Trustpilot, and most of the reviews are in languages predominantly spoken outside the country where the broker is based.
Such patterns raise red flags, pointing to possible suspicious activities like incentivized reviews, fake reviews, or even review farming.
It reminds me of my time as a freelance contractor on Upwork between 2015 and 2018. Occasionally, I’d come across clients looking for someone to fabricate positive reviews for their products or services. Some even requested that these reviews be posted on external platforms like Trustpilot.
While I always declined these ethically questionable requests, those experiences revealed how easy it is to manipulate online review systems. This knowledge makes me particularly cautious when encountering brokers with unusually perfect ratings and questionable review patterns.
My Final Verdict On DualTrade
Dual-Trade.Com is a highly suspicious and potentially dangerous trading platform I strongly recommend avoiding.
While it claims to offer “free” accounts and promises no deposit is required, its suspicious withdrawal fee requests reveal its deceptive nature.
Also, the inconsistency regarding deposit bonuses further raises concerns about its legitimacy.
The absence of regulatory information and unclear connections to another company only deepens the suspicion.
On top of that, its suspicious reviews on Trustpilot further reveal its fake credibility. Overall, DualTrade seems intent on misleading traders with false claims and taking advantage of them.
Report A Scam Incidence
Have you fallen victim to DualTrade or another fraudulent broker? If so, go to this page to report the incident. You may also send an email to scamread@scamreader.info.