Dowmarkets Forex broker review — Everything you need to know

DowMarkets operates under the legal entity Update Ltd., which is registered in the Marshall Islands. Although it is difficult to determine when the broker was incorporated, some sources claim it was launched in 2018. The broker offers a diverse selection of account types, allowing traders to access multiple markets through the Xcritical online trading platform.

Let’s review the most crucial features of Dowmarkets to assess its safety, accounts, spreads, assets, leverage, commissions, profit withdrawals, education, support, and more.

Dowmarkets Overview of the website

The website of Dowmarkets can not be called a professional web page, as there are some crucial details lacking such as regulations and segregated accounts. The website is very simplistic, which makes it responsive and easy to navigate. Many details can be found at the bottom menu of the website while major details about the broker’s accounts and instruments can be found on the top menu.

There is a live chat built into the website, which is very useful to get quick support and phone number is also disclosed, which is crucial.

Overall, the website of Dowmarkets is satisfactory and the broker can implement minor updates to make it even more professional.

Dowmarkets Safety

Dowmarkets is incorporated in Marshal Islands as an Update Ltd, which is only registered there and not regulated. The broker does not hold any regulatory licenses, meaning, it is a very risky broker. Unregulated brokers are mostly scams and since Downmarkets was launched in 2018, it had more than enough time to get properly licensed.

As an unregulated broker, Dowmarkets does not keep trader funds in segregated bank accounts, which is yet another serious safety flaw.

DowMarkets does not provide negative balance protection. Their terms specify that stop‑out is at 0%, meaning they close losing positions before the account balance turns negative. The lack of an NBP policy is another serious flaw that can not be underestimated.

Dowmarkets Accounts Reviewed

When it comes to trading accounts, Dowmarkets offers a wide range of choices. There are start, silver, gold, platinum, and VIP trading accounts available. Each account offers slightly different trading conditions. Let’s briefly evaluate each of them.

Dowmarkets Start Account

The start account is a beginner trading account that requires the lowest minimum deposit. However, this minimum deposit requirement is still not competitive and creates entry barriers for beginners. Here are the full specs:

• Minimum deposit – 250 USD
• Maximum leverage – 1:200
• Spreads from – Unknown
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

The broker does not provide details about the spread, which is a red flag.

Dowmarkets Silver Account

The silver trading account offers more features and has the following conditions:

• Minimum deposit – 3,000 USD
• Maximum leverage – 1:200
• Spreads from – Unknown
• Commissions – Unknown
• Minimum lot size – 0.01 lots

This account also offers commodities trading which is not available on the starter account but accessible on all other trading account types.

Dowmarkets Gold Account

The gold trading account offers the following conditions:

• Minimum deposit – 10,000 USD
• Maximum leverage – 1:100
• Spreads from – Unknown
• Commissions – Unknown
• Minimum lot size – 0.01 lots

This account offers personal training programs unlike previous accounts and investing strategy trading.

Dowmarkets Platinum Account

The platinum trading account by Dowmarkets offers the following conditions:

• Minimum deposit – 50,000 USD
• Maximum leverage – Unknown
• Spreads from – Unknown
• Commissions – Unknown
• Minimum lot size – Unknown

This account has a very high minimum deposit requirement and offers better features than previous accounts. There are premium promotions and dedicated groups where traders get even more information about trading.

Dowmarkets VIP Account

The VIP account has the highest minimum deposit requirements:

• Minimum deposit – 100,000 USD
• Maximum leverage – Unknown
• Spreads from – Unknown
• Commissions – Unknown
• Minimum lot size – Unknown

Overall, the broker is less concerned about exact trading conditions such as spreads and commissions, and provides details about extra features. The lack of details about crucial trading conditions is a red flag and traders should stay away from this broker.

Deposit and withdrawal options at Dowmarkets

The broker fails to provide exact details regarding its payment conditions. There are several payment methods accepted including bank cards (Visa, MasterCard), QIWI, Bitcoin, and WebMoney. However, the details about payment fees are not given and there are no details about processing times for withdrawals available either, which is a serious red flag.

Dowmarkets Assets — What can you trade?

The broker provides access to a diverse set of different trading markets such as Forex pairs, commodities, indices, cryptos, and stocks. Commodities are not available on a starter account. While details regarding the leverage are given, we can not find details about spreads, which makes it impossible to conclude how cheap the broker is.

Trading platforms of Dowmarkets

The broker offers only a web trading platform, Xcritical. The platform is not provided as a standalone platform and should be used with a browser, which makes it not as responsive or advanced as MT4 and other advanced platforms. There is a mobile version available as well for mobile devices.

Education at Dowmarkets

The broker offers exclusive educational resources depending on the trading account. The general educational resources focus on trading assets and can not be used to get knowledge from zero and become a master trader. Personal courses and VIP materials are available for higher-tier accounts beyond SIlver and require substantial trading capital, which is a downside.

Dowmarkets Customer Support

Dowmarkets customer support experience is provided via live chat, email, and phone support channels. The live chat is repos naive and built inside the website allowing the fastest access to support. Both the website and support of the broker are available in 3 languages, which does not make the broker multilingual.

Dowmarkets bonuses and promotions

The broker offers bonuses depending on the trading account. The starter account gets no bonus, the silver account offers up to 40%, Gold up to 60%, platinum up to 75%, and the VIP up to 100%. There are no other types of promotions available, which is a minor downside. These bonuses have conditions and traders have to carefully read them before applying.

Is Dowmarkets your broker? Final verdict

Dowmarkets offers tiered account types, bonuses, and a simple platform via Xcritical, but its lack of regulations, unclear spreads, no negative balance protection, and vague withdrawal terms make it a very risky broker. Stay away.

FAQs on Dowmarkets broker

Where is Dowmarkets based?

Dowmarkets is registered in the Marshall Islands under Update Ltd., but it is not regulated.

Can you withdraw from Dowmarkets?

Withdrawals are technically available, but processing times and fee structures are not transparent, making withdrawals questionable.