Demmandbit has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
KYC with Demmandbit 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: Comprehensive tools|Multiple order types
Cons: Charting tools need more indicators|Inactivity fee applies after 12 months
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
After for the past year and a half with Demmandbit, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Multi-currency support|Comprehensive tools|Full transparency
Cons: Live chat only during business hours|Account statements could be more detailed
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. Demmandbit said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Full transparency|Risk management tools|Portfolio tracking tools
Cons: Account statements could be more detailed|Limited ETF selection
I was contacted by Demmandbit through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
The mobile app from Demmandbit is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Comprehensive tools|Multi-device support
Cons: Alert system is basic|Some tools only available on higher tiers
I wanted to transfer my portfolio from another broker to Demmandbit. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Good mobile app|Segregated accounts|Stable platform|Easy withdrawals
Cons: Charting tools need more indicators|Alert system is basic
The only good thing about Demmandbit is that they remind you why regulation matters. I found them after a trusted YouTuber reviewed them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Social trading features|Competitive fees|Personal attention
Cons: No dark mode on mobile
Demmandbit changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Educational resources|Segregated accounts|Economic calendar
Cons: Minimum deposit could be lower
Demmandbit locked my account without warning and demanded documents I had already submitted. since mid-2025 later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Portfolio tracking tools|Competitive fees|Real-time alerts
Cons: Could offer more webinars|No live chat on mobile