Is Dualix a legit broker?

Dualix, as a regulated broker, should be legit and trustable. But our experience so far taught us not to trust anyone that easily. It’s extremely important to search for all the information before confirming if the broker is legit or not. And of course, even if it is legit, you should compare it with other regulated brokers and find the best offer for yourself. That’s exactly what we did in our Dualix review.

Dualix Regulation and Security

Dualix is a broker based in Cyprus, owned by MaxiGrid Ltd. The company has several brands, including w w w.agmmarkets.com and w w w.maxigrid.com. The website itself looks impressive, but we decided to go above just the looks. As per our Dualix review, there is no list of banks where your funds are held. However, since the broker has CySEC regulation, it means that it needs to have a minimum capital of 730,000 EUR constantly, to be able to execute all withdrawal requests.

However, we advise you to be careful since MaxiGrid had certain issues with its regulator and needed to pay a settlement of 75,000 EUR. It only means that it does not always operate as it should.

What can you trade with a Dualix broker?

Dualix broker is providing for its clients trading on the forex market, with commodities, indices, shares, and cryptocurrencies. The leverage broker offers goes up to 1:30 as per CySEC regulation. All the trades are executed on the MT4 trading platform, which we especially like. The MT4 platform is a favorite platform of many traders and provides you with higher security than web traders. The platform can be downloaded as an app, and use in web and mobile versions. When it comes to spread, this broker is not exactly the best since the costs are too high. If you have the Basic account, the spread starts from 3.0 pips. Just for you to compare, an average standard in the trading industry is 1.5 pips.

Dualix accepts traders from:

As a CIF, the broker can provide financial services to the residents of the EEA zone. According to the broker’s website, the company does not offer CFD trading to residents of the UK and the USA. As a CIF, it should be able to offer services to other countries if it complies with its trading regime. It seems that in the case of Dualix there are no such countries.

Practically, the broker is limited only to the EEA zone – countries of the European Union including Norway and excluding Switzerland.

Deposit and Withdrawal Methods

The broker offers various payment methods for making a deposit – debit/credit cards, wire transfer, several local payment solutions, and E-wallets. The minimum deposit for the Basic account is 250 EUR. However, if you want to have a more competitive spread, you will need to start from the Silver account and prepare 1,000 EUR for the deposit.

There is no minimum amount for withdrawals, which we highly approve. As per their website, withdrawals are processed within 24h. What we do not understand, is the time necessary for withdrawal to be approved by the company or for the funds to land in your bank account.

Conclusion about Dualix

The company is Cyprus-based and owned by MaxiGrid Ltd. The broker has CySEC regulations. However, the company owner has been punished with 75,000 EUR by CySEC for violating a regulation. Be aware of this fact when opening an account with the broker.

If you have been scammed by Dualix, do not hesitate to ask for your money back!