Users often ask why forex is a scam. Choosing a broker is a very responsible event. The conclusion of all transactions in the Forex market is done through an intermediary, which is why your success in the market depends on the correct choice of a stockbroker. In order not to make a mistake with the choice of an intermediary, it is necessary to collect as much information as possible about companies operating in the market, about their reputation, about the services they offer, and to study reviews. Different agents provide different working conditions.
Basic info about DowMarkets
The company’s official website states that it performs the following functions:
Functions of the broker:
- trade assurance on DowMarkets site – the company receives an order from the broker and either display it on the interbank market or repays it with counter requests;
- information – organization of access to the necessary data for trading;
- maintaining documentation;
- advisory-optional function on DowMarkets official site. The company can carry out such work with clients on request;
- the analytical-the company provides free market analysis, medium-and long-term forecasts;
- access to additional software if you have DowMarkets login.
Further, the site presents customer reviews, which are positioned as real reviews of real people. Thus, we can not speak about DowMarkets lie.
Negative feedback of the users
In the network, you can find a small number of negative reviews about the company DowMarkets scam:
- Users write that the company simply deceives users by taking money;
- It is also noted that it is impossible to contact the technical support service of this brokerage agency;
- These reviews about DowMarkets fraud also mention some problems with registration and dowmarkets.com login.
However, these reviews don’t contain photos. Possible, they are written by the competitors to spoil the company’s reputation.
To correctly interpret DowMarkets review, you need to know how to distinguish a normal broker from a company that cheats people.
Let’s highlight a few features that will help you learn how to distinguish a normal broker from a fraudster:
- firms with similar names, like large brokers. It is very difficult for young organizations without proper experience to gain a foothold in the current market. This is why financial pyramids prefer to use brand awareness to their advantage by replacing only one letter in the name of a well-known trading platform. DowMarkets doesn’t take part in such activities, so it is not DowMarkets cheat;
- creating a unique product that promises guaranteed success and huge profits. This offer does not represent anything special and outstanding. It was not mentioned in DowMarkets customer reviews;
- profits for the first clients are accrued from funds received from new depositors. The success of the ” pioneers “is a kind of confirmation that you will not be “thrown.” However, this is only necessary to “blur” the eyes of other participants in the fraudulent scheme and use them to attract new depositors.
The promise of guaranteed profit in the absence of restrictions on deposits. The main feature of the financial pyramid is the offer of “free cheese in a mousetrap”. We can’t find such information at the dowmarkets.com site. Thus, the company is reliable.
Unfortunately, modern brokerage companies may have signs of fraudulent firms, but not DowMarkets broker. In order not to be mistaken with doubtful companies, it is better not to take risks and contact trusted firms that are part of such prestigious associations as the CFTC or NFA. Fraudsters will not be able to get into the above-mentioned organizations if they want to.
Do not start working with a brokerage company until you are sure of its reliability according to forex review:
- keep in mind that fraudsters also improve their skills and can forge any document. It is also very useful to talk to more experienced traders who have already had a real experience of interacting with the chosen firm;
- it is not easy to choose an honest broker. Thus, a new trader without any experience must have a critical assessment of the information;
- before starting a collaboration with any broker company, it is necessary to estimate all pros and contras, all possible drawbacks and benefits;
- it is useful to read the users’ feedback, but we should remember that sometimes positive and negative reviews can be ordered in advance. It is a wide-spread practice in the modern world of trading.
The same situation happened with DowMarkets. The competitors wrote bad reviews about the broker to shift this company from the market.
The rules of choosing the right broker
One of the main indicators when choosing a broker is reliability. The company should not have any problems in the course of operation, and it should have the appropriate licenses for providing brokerage services issued by the financial regulators of the region in which the company operates.
The broker must provide all the necessary tools for trading and have a simple and intuitive interface. Many brokers provide up-to-date information from the world of investment-this is also an important criterion. The client should have no problems finding the necessary information.
The next important criterion will be the terms of trade. Please note what stocks are available from a particular broker, how many trading pairs there are, and what restrictions there are. For example, not all brokers provide access to foreign markets. Therefore, you need to look at which stock exchanges you are granted access to.
These simple rules will help you to avoid scams.