DMX Markets Review: is a forex broker located in the Saint Vincent and the Grenadines. In the review below, we take an in-depth look at the features dmxmarkets.com allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about DMXMarket Forex broker.
Table of Contents
DMX Market Trading Platform
Dmxmarket.com in some aspects look professional but fails in other aspect due to its questionable design choices and implementation.
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
At first glance we discover that this broker supports the MT4 trading platform and Sirix . They use a web based platform to offer assets such as Forex (with leverages up to 1:200) CFDs, Indices, Stocks, and Precious metals.
DMX Market Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has three account types. First of all the minimum deposit for the entry account is 5,000 Euros. This is way too high compared to the acceptable amount in the industry which is $250.
DMXMarket Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
This broker says it only supports payment by means of credit and debit cards. Normally, brokers would also utilize payment options such as Visa, MasterCard, Neteller and Skrill.
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is DMX Markets Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
DMX Forex broker claims to be owned by Digital C Media, and located at Suite 305, Griffith Corporate Centre Beachmont, P.O Box 1510, Kingstown Saint Vincent And The Grenadines.
St Vincent and the Grenadines is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body
We know this company is not licensed but to perform due diligence, in order to ascertain if this broker was licensed, we had to check several regulatory bodies. We checked the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. At the end of our search we didn’t find any licensing information concerning this broker.
Trade with TOP RATED BROKERS Instead
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with DMX markets as they don’t give any information concerning if they are a regulated broker.
DMX markets.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.