In recent years, forex and CFD (stands for ‘Contract for Differences’) trading online has become a highly popular way to make money from home by taking advantage of the constantly changing financial markets. One of those forex brokers on the rise is Dowmarkets.com.
Most of the information we know about the DowMarkets trading platform is through their website, but the details are quite limited. Why? You’re about to find out as you continue reading our DowMarkets review. So far, what we know is that DowMarkets is a CFD Forex broker who offers a trading platform where traders can trade a variety of financial assets such as currencies, cryptocurrencies, shares, bonds, and commodities. Its founder is Prometheus Ltd, which is an international financial company based at Beachmont Business Centre, Suite 40 Kingstown, in the southern Caribbean nation called St. Vincent and Grenadines.
Other than those details, not so much is known about this trading platform, which is why we suspect that DowMarkets is possibly a scam. For example, we couldn’t find any clue when it was founded. We don’t know who the founder is either because this person (or these people) hides his or her identity using a paid service. Sounds suspicious, right? While exploring their website, we also found out that they are not using the popular MetaTrader5 platform (used by hundreds of banks and brokers worldwide), they are not regulated by a legit financial authority (a huge warning sign), and their registration data is used by several websites, just to name a few.
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Why Do We Think DowMarkets Is a Scam
The mere fact that DowMarkets is not disclosing some of the most important details to their users is already a big red flag, but there are a few more reasons why this CFD trading platform is not worth your time and money. Here’s what we found:
A legit Forex trading company must pay the regulated licenses so that it can continue doing its legal trading business. For example, most legit trading brokers (truth to be told, there are not many of them) are regulated by financial regulatory organizations such as CySEC, SFC, and SCA. However, DowMarkets isn’t paying for its licenses, and it is regulated by IFMRRC (International Financial Market Relations Regulation Center), which is not a legit financial authority. If something goes wrong with the transaction, for example, it is close to impossible to get your money back. Unfortunately, the IFMRRC isn’t the kind of organization that can get you a peace of mind.
Since there’s not so much information about DowMarkets, we went the extra mile to dig up more details about this fraud Forex broker. What we found out was not really surprising; they made our suspicions even more valid. Here are a few things we have gathered:
- The identity of the platform’s owner is hidden.
- The trading company has no reviews on WebOfTrust (WOT), which is an online reputation and Internet safety service.
- It offers a few unidentified and possibly not trusted payment methods.
No Money-Back Guarantee
Since DowMarkets is not fully regulated, there is no guarantee that you will get your money back if you’re entitled to (i.e., no money-back guarantee). Aside from that, there is a warning disclosure (labeled as “Risk Warning”) at the bottom of the website. Better read that first before trusting this shady company.
Unlike legit cryptocurrency and forex trading platforms that offer well-designed and user-friendly websites, the DowMarkets website has a copy-paste structure. The content on every web page looks like a template that has been poorly edited. We have also seen similar content on other low-rated forex trading sites, so it’s not exactly top-notch.
Need we say more? Our DowMarkets review shows all signs that DowMarkets is one of those shady online trading platforms that can steal your money. Never give your trust in a trading broker who is not fully-regulated, and don’t even try to think about investing in it. What we recommend is to look for online trading platforms that have received many positive reviews and are transparent in terms of the company’s details and the founders’ identity.
DowMarkets Scam – Cut The Crap
|Maxi Services (Belize) Ltd||5 Cork Street, Belize City, Belize|
|Maxi FX Service Ltd||20 Lincoln, Tel Aviv, Israel|
|Maxi Services Ltd||Suite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines|
|Colewell Marketing Philippines Inc||Makati, Philippines|
|Tendo Marketing Ltd||9 HaMasger or 20 Lincoln, Tel Aviv, Israel|
|Apachewell Ltd||13 The Sycamores Clonslaugh Woods, Clonslaugh, Dublin, 13, Republic of Ireland|
|Quant ROI Ltd||116, Gladstonos, m. Kyprianou Tower, 3rd-4th floors – 3032 Limassol|
|Market Solutions Ltd||Suite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines|
|M G GLOBAL CONSULTING LTD||Sofia 1463, Triaditsa Region, 42 Shandor Petyofi Str., App.off. |
|FAIRIPRISES LIMITED||15 The Sycamores Clonslaugh Woods, Clonslaugh, Dublin, 13, Republic of Ireland|
|Platinum Consulting Ltd||6 Andrey Nikolov, 245, Sofia, Bulgaria|
|Swissone Group Ltd||Suite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines|
|TLM Limited||Suite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines|
22 Gresham St, London, United Kingdom
|Day Dream Investments Ltd||Trust Company Complex, AjeltakeRd, Majuro, Marshall Islands|
|UP Services LTD||4 Yako Katsarov, Complex Stoyan Zaimov, Block 69, Entrance B, Sliven 8800, Bulgaria|
|Odem House OÜ||Mustamäe tee 163-38, Harju maakond, Mustamäe linnaosa, Tallinn, 12913 Estonia|
|Marlay Corp LTD||4 Hanifa Alasgarov, Baku, Azerbaijan|
|Inter Media Ltd||Suite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines|
|Yakov Livshits||CEO at Maxi Services|
|Michael Peres||CEO at Maxi FX Service Ltd|
|Tradiva (Read our Tradiva review)||https://tradiva.com/|
|Umarkets (Read our Umarkets review)||https://umarkets.com/|
|MaxiTrade (Read our MaxiTrade review)||https://maxitrade.com/|
|TradeAllCrypto (Read our TradeAllCrypto review)||https://tradeallcrypto.com/|
|Maxi Markets TV||https://maximarkets.tv/|
|Maxi Markets Review||http://maximarkets.review/|
|Maxi Services Ltd||https://maxiservicesltd.com/|
|Market Solutions Ltd||https://marketsolutionsltd.com/|
|Maxi Markets Finance||https://maximarkets.finance/|
|Maxi Markets Club||https://maximarkets.club/|
|Maxi Markets IO||https://maximarkets.io/|
|Maxi Markets Group||https://maximarkets.group/|
|Maxi Markets Deals||https://maximarkets.deals/|
|Maxi Markets World||https://maximarkets.world/|
|Maxi Markets Live||https://maximarkets.live/|
|Global Cloud Team||https://globalcloudteam.com/|
Got Scammed? How To Get Your Money Back?
We know the frustration you feel after being scammed. At a certain point, you feel lost, and you have no idea what to do next. It’s a traumatic experience. What you’re feeling is valid and understandable. However, you don’t have to dwell in that dark place for a long time.
All hope is not lost as there are various ways to get your stolen money back. Yes, you read that right. If you have been scammed, you can apply these tips to increase your chances to retrieve your money from those shameless scammers.
If you paid using a credit card, you can use chargeback to request a refund from your bank card provider. In addition, you can also use chargeback if you paid using a debit card. A word of caution, though, there are requirements before this applies, so know them first.
You can also file a complaint about the PSP (Payment service provider) and demand for reimbursement. If you’ve been scammed and the banks involved are not doing what they are supposed to do, you should be refunded after the fraud happens.
But if nothing still works at your advantage, and you need further assistance, you can contact us through our email, [email protected]. We will help you in any way we can. Don’t worry. We’ve got you covered!