Even with a brief Google-related search on the internet, one thing would always pop up, and that is a result with at least something about a “DowMarkets scam.” This would be followed by several DowMarkets customer reviews ranging from using the terms “DowMarkets cheat” and DowMarkets lie.” Since the DowMarkets broker is quite new and most of what we’ve seen doesn’t add up. So, we decided to see for ourselves and check if these claims have any bearings whatsoever. We will also investigate what may have led to such while providing feedback about DowMarkets. Of course, all information provided here has been taken from the Dowmarkets official site. So without further ado, let’s start this DowMarkets review.
DowMarkets: services and offerings
From what we can gather in the DowMarkets site (which can be accessed through the dowmarkets.com site), it’s a brokerage firm that specializes in trading online with CFDs, which mostly involves foreign exchange instruments. When entering the dowmarkets.com login page, we are greeted with a standard trading platform layout with sign-up buttons, a demo account creation, financial news, and apparently, the platform’s top five biggest traders. On the DowMarkets login page, we see that it utilizes the MetaTrader 4 (MT4) platform, which is well and good as it is considered as the most versatile of most of the leading platforms out there – the MT5 included. Aside from that, everything on its sight from economic calendars to spread tables seems to be in order.
The DowMarkets broker also offers a wide array of account types with different advantages and benefits the higher the tier goes. However, it is advised that you choose the one that would best suit your trading strategy.
Start Account
- Deposit range from $250 – $3000
- Bonus gained up to 50%
- Basic Introduction to the platform
Silver Account
- Deposit range from $3001 – $10000
- Bonus gained up to 100%
- Basic Introduction to the platform
- Access to Educational and analysis materials
- Access to a personal analyst
Gold Account
- Deposit range from $10001 – $50000
- Bonus gained up to 120%
- Accelerated withdrawals
- Basic Introduction to the platform
- Access to Educational and analysis materials
- Access to a personal analyst
- Weekly review of your trading account
Platinum Account
- Deposit range from $50001 – $100000
- Bonus gained up to 120%
- Highest priority withdrawal
- Basic Introduction to the platform
- Access to Educational and analysis materials
- Access to a personal analyst
- Weekly review of your trading account
- Quarterly trading plan program
VIP Account
- Deposit above $100000
- Bonus gained up to 125%
- Highest priority withdrawal
- Basic Introduction to the platform
- Access to Educational and analysis materials
- Access to a personal analyst
- Weekly review of your trading account
- Quarterly and Annual trading plan program
- Real-time trading demonstration
- Priority access to the analyst trading sessions
- VIP hedging tools
More details can be seen on the dowmarkets.com site.
DowMarkets: Is it a scam?
When we look into these claims of a DowMarkets fraud, we’ve noticed that it’s not very concise on what it has said. Many of its clients would claim that DowMarkets doesn’t allow them to withdraw their money. It’s one of the biggest reasons why many would immediately point to it in being a scam of sorts. However, it is very important to note in this forex review the nature of online brokers – whether they are reputable or not. Most of the reasons why many brokers fail to process the withdrawals on time are mainly due to lacking the connection to major intermediary banks for specific target markets they have. This, coupled with miscommunications/ faulty communication devices (unfortunately), cause clients to believe otherwise and tell others why forex is a scam.
Another thing to keep an eye out for and is much more important is checking if proper financial authorities and entities regulate the online broker. This would let you know if the broker in question follows the guidelines and conducts business in a safe and standard manner. We took the time to gloss over the dowmarkets.com login page and indeed found out that DowMarkets are regulated by the International Financial Market Relations and Regulations Center (IFMRRC), which is a decent and pretty standard authority. This would mean that DowMarkets keeps the clients’ best interest at priority at most.
Positive DowMarkets Reviews
DowMarkets customer reviews have been getting a lot of negative press, but we tried getting in touch with some of the people who signed up for DowMarkets to see if they had anything positive to add about the online CFDs broker and here’s what they had to say.
“Trading has not been my strong point. I was never really good with money. Though when someone introduced me to the site and taught me how to trade, I signed up with just $2,000 and even when things weren’t going my way, there were times I got some of the best wins and learnt how to work it out.”
Nikolay Eller
“I started this (DowMarkets) a few months ago and they assigned someone named Alexander as my personal Analyst. I was a little bit disappointed as his help did not benefit me at all! Though, I tried to make my own decisions and thoughts and I managed to make enough. The thing I want to bring up is the withdrawal time as it takes long. But surely it shows up and everything is fine.”
Markus
DowMarkets: Our Conclusion
When looking into DowMarkets, it certainly does boast competitive services and offerings, and if it is more in line with your financial endeavors, we would highly recommend trying it out. DowMarkets may not have the fastest response times, and the time it takes to process withdrawals can leave much to be desired for. However, it can be said that Dowmarkets truly isn’t an organization bent on scamming people and does legitimate business.