Debonex has been flagged by Finansinspektionen for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". Loan Fee Fraud
Debonex
22 Rue de Châteaudun, 75009 Paris
France
Telephone: +33789728647
E-mail: [email protected] This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.debonex.com.
I looked into Debonex and found they appear in the regulatory warnings database. Finansinspektionen has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I joined Debonex from a blog post comparing services and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Multiple order types|API access|Great customer service
Cons: Mobile app could be improved|Charting tools need more indicators
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Debonex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Fast execution|Smooth onboarding|Copy trading available
Cons: Slow to add new assets|Limited ETF selection
The platform at Debonex is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since I opened my account last year of dealing with this, I have had enough.
Pros: Economic calendar|Dedicated account manager|Competitive fees
Cons: Some tools only available on higher tiers|No fractional shares
I have been trying to close my account with Debonex for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Educational resources|Competitive fees
Cons: Limited social trading features
KYC with Debonex is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Helpful community forum|Comprehensive tools|Dedicated account manager|Detailed reporting
Cons: Research section could be deeper
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Debonex said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Reliable uptime|Fast deposits|Regular platform improvements|Segregated accounts
Cons: Limited ETF selection|Account statements could be more detailed
Several red flags with Debonex: (1) They promise unrealistically high returns, (2) They're not registered with Finansinspektionen, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Finansinspektionen|Cannot verify credentials
I had a dispute with Debonex and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Good mobile app|Educational resources
Cons: Limited demo account features|Live chat only during business hours
I invested $3,500 with Debonex after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Finansinspektionen.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics