Is Forex Broker DowMarkets scam or not?
Searching for new brokers and want to evade scams? Then it is a good thing that you are here. In this forex review, we shall talk about the DowMarkets official site, check the pros and cons of this broker, and, of course, see whether it is a scam or not.
What is DowMarkets?
According to the information on the dowmarkets.com site, this is an innovative Forex broker that aims to be always up-to-date. The company exists and successfully operates for more than 10 years. The website offers a functional and user-friendly trading platform designed for both newcomers and professionals.
What does DowMarkets offer?
First of all, before making our verdict, we must check the services offered by the DowMarkets broker. This will help us and our readers understand more about the company.
What Can You Trade?
A number of assets can be traded with DowMarkets:
- Cryptocurrency
- Commodity
- Stock trading with indices
These three types of assets offer a lot of trading opportunities due to their high volume and volatility.
Trading Platforms
After you log in on the DowMarkets site, you will gain access to two trading platforms:
- MT4
- Xcritical (web and mobile)
There is nothing new to say about the MetaTrader 4 platform. However, Xcritical is less known. It is a competitive option that overtakes MT bit by bit thanks to its fast and stable work, user-friendly interface, and suitability for traders of all levels.
Trading Instruments Offered By DowMarkets
There are some useful instruments that assist traders in their work:
- Economic calendar
- Market news
- Spread table
These might not be very useful for some users, but sometimes they do serve as a helping hand. It is good to know the broker keeps information like this in one place.
Education
DowMarkets provides some educational materials. These include webinars, articles on shares, forex, commodities, cryptocurrencies, bonds. All the material is given in a simple way so that everyone could understand it.
Account types and minimal investment
There are 5 account types with different investment milestones. These are:
- Start ($250)
- Silver ($3000)
- Gold ($10 000)
- Platinum ($50 000)
- VIP ($100 000)
You can get acquainted with the detailed information about each account type on the DowMarkets official site. We shall only add that the “Gold” type seems to be the most appropriate for the beginning.
Is DowMarkets a Scam?
DowMarkets is a service with many years of experience. It provides high-quality instruments for its clients every day and always tries to improve what it has.
However, some unscrupulous websites that call themselves “professional forex reviewers” publish fake information that confuses many users. Such resources provide “good” reviews for scams and “bad” reviews for trusted brokers. They even edit user comments to the information they need. That is why, if you find a website stating that DowMarkets is a fraud, always pay attention to the trustability of the source.
Is DowMarkets a Legit Broker?
We confirm that DowMarkets is a legit broker. There are several reasons for this: on-time payouts, friendly support, high-quality website and tools, and also fresh information on each trading-related topic.
Should I Trust DowMarkets?
If you are worried about the trustability of a broker, make sure you read some reviews from trusted sources about it. Do not get confused by an excessive amount of either positive or negative reviews only on one website. These can be easily faked.
Our golden rule states: do not keep all eggs in one basket! If you worry about trusting a broker, try investing the minimum sums possible for a start. After your first payout, you can be sure about the service.
DowMarkets Customer Reviews
We have read many positive and negative DowMarkets customer reviews on the web. Some stated that it was “the best broker ever,” others called DowMarkets a cheat.
For us, the best choice was interviewing some real clients whom we had found on several trading forums.
Amelia, Poland
“I have already been trading with DowMarkets for half-a-year. I ordered my first payout somewhere in a week of intense trading. I was very worried: this was my first investment with such a sum (edit: Amelia had invested $3000). I earned near $600 in one week, which were only a small part of the whole sum. I managed to double the investment in a month and later on I kept on trading only with the earned money. Thus, if I lost anything, I wouldn’t really lose MY money. My income? I trade part-time, so I earn only near $1000 every month.”
Robert, USA
“I started working with DowMarkets since the opening of the online web platform. I cannot be sure about the date, it was definitely a long time ago. By that time, I was seriously in for trading, so I tried to use every possible bit of information for my trades. DowMarkets provided some articles which helped me in some ways. I had some issues with the payouts, my manager helped me solve them quickly. The first payout was near $300, I only invested the minimum. When I understood that these guys payout the money on time, I invested in a gold account. My best investment so far.”
Conclusion
Still, wondering why forex is a scam? As you can see, the customer reviews show that DowMarkets is not a lie and can be trusted. The broker offers good terms with high-quality instruments and many trading opportunities. And what do you think about this broker?
