Dakras Markets Review

About Dakras Markets

Dakras Markets Limited is incorporated in the UK (company number 12961125) but lacks authorization from the UK Financial Conduct Authority (FCA) to offer forex or financial services (). The Securities and Futures Commission (SFC) of Hong Kong added Dakras Markets to its Alert List on 12 March 2021, citing that its claimed Hong Kong address is invalid and the firm is unlicensed (). The Japanese Kanto Local Finance Bureau issued a public warning on 28 October 2021 stating that Dakras Markets Limited was soliciting over-the-counter derivatives without registration using the name “DAKRAS” and the Hong Kong address at Floor 38, International Finance Centre, Finance Street (). Additionally, the Canadian Autorité des marchés financiers (AMF) published an investor warning on 21 June 2022 indicating that Dakras Markets Limited is not registered with the AMF and is not authorized to solicit investors in Québec ().

Official and auxiliary sources indicate that Dakras Markets offers trading in forex, precious metals, oil, and indices via the MetaTrader 4 (MT4) platform. The firm claims very high leverage (up to 888:1) and a minimum EUR/USD spread starting from about 2.1 pips. A discrepancy exists between the claimed foundation year (2002) and the domain creation/incorporation date (2020), suggesting misleading information about its history ().

Pros and cons

Pros

• Wide range of instruments: forex, precious metals, oil, indices ().
• Access to the MetaTrader 4 platform ().

Cons

• Unregulated by major authorities (FCA, SFC, AMF), with multiple formal warnings and alerts ().
• Misleading claims on establishment date and business premises ().
• High-risk leverage levels (up to 888:1) ().