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Spanish CNMV warns against the crypto broker Dsdaq

CNMV warns against Dsdaq
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Spanish regulator CNMV has issued an investor warning against broker Dsdaq (www.dsdaq.com). Dsdaq offers to trade securities, derivatives, commodities, indices, and crypto through its app, which is available for Android and the Apple platform. Traders can only deposit cryptos and use them as a sort of trading collateral. Dsdaq compares itself to BitMex and Robin Hood and is giving itself the highest marks. According to its LinkedIn profile, Dsdaq Market Ltd is a Hong Kong-based company founded by Californian Oliver Hayen (LinkedIn) and others.

Dsdaq labels itself as a “crypto collateral trading platform where users can utilize crypto to trade stocks, ETF’s, stocks indices commodities, and other financial assets. It offers free platform tokens awarded to its traders for every crypto exchange transaction undertaken on the platform. Trading is done with a “Straight Through Processing (STP)” execution, Dsaq claims, i.e., the trades are passed through to top-tier liquidity providers.

We have not been able to check the bold claims at this stage. However, given the warning of Spanish CNMV, we recommend staying away from this unregulated and unauthorized broker.

If you have any information about Dsdaq and/or its operators please share it with our research team. You can use our whistleblower system for this purpose.

CategoriesCNMV

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