Duo Markets Review – Introducing Broker For Problematic EuroTrade
Duo Markets broker, owned by TUTORES-FX S.A.C., is an introducing broker for Eurotrade SA (Pty) Lt. An Introductory broker is an entity that accepts orders to buy and sell various financial instruments, but does not accept capital and other assets from the traders. All the funds go to the owning company, in this case – EuroTrader.
However, even the IB needs a license, and Duo Markets doesn’t have it. That’s where the troubles start. That basically makes them no different than LBLV for example. Please read the following Duo Markets review carefully, as the situation is so tangled up it gives headaches.
|Is This Company Safe?
|We do not recommend unregulated firms!
|Have Warnings from:
|South Africa (alleged)
|Forex, Stocks, Commodities, Indexes, Crypto
|Free Demo Account:
|How to Withdraw from This Company?
|Legal help is required when trading with unlicensed firms!
Duo Markets Shady Regulation
Duo Markets has several discrepancies which made us suspicious of their real location being South Africa. Firstly, there’s a South African address on the website where Eurotrade SA (Pty) Lt is legally registered. Secondly, Duo Markets gives a phone number from Peru as their contact. Lastly, their verified TrustPilot profile gives an office address in the Bahamas! What will it be?
This dangerous and potentially offshore entity acts as an IB of Eurotrade SA (Pty) Lt as the main service provider. However, Eurotrade SA (Pty) Lt is regulated by FSCA in South Africa. You can search the register and the result will appear here: https://www.fsca.co.za/Fais/Search_FSP.htm. But not if you search for Duo Markets or the firm that is their supposed owner – TUTORES-FX S.A.C.
Eurotrade SA (Pty) Lt has a FSCA regulation but they cannot provide services to EU traders. Yet they do, and they also offer bonuses, which are prohibited there. That’s just a portion of the troubles the EuroTrade Group causes with their offshore entities that are breaching the ESMA and CySEC rules. You can find more details here: https://fintelegram.com/cysec-compliance-be-careful-with-the-bonus-program-of-offshore-broker-eurotrader/
We believe it would be smarter to find a better regulated broker that doesn’t use offshore entities to cover a wider area at any cost and bring their clients under risk. FinRoyalty is another site you should stay away from.
Duo Markets Targeted Areas
The origin of the Duo Markets clientele implies the firm’s potential real location. Most of the customers seem to be from the countries in the same area:
Their services and general offer might come off as attractive in certain aspects, but please beware. Duo Markets will have you believe you’re trading under the best conditions and with the best tools available. However, your entire investment project may go to waste, considering the offer comes from an unregulated entity.
For the quickest problem resolving with this of similar firms, you can contact our customer service. We offer professional legal help that can aid you in fund recovery.
Duo Markets verified profile on TrustPilot currently has almost 200 reviews and the ratings are almost 100% positive. While appealing at first, this case actually smells like another example of paid reviews. Since most of them are not written in English, we will not post any, but we advise traders to know better than to blindly trust an unrealistic presentation.
Trading Commissions And Other Costs
Depending on the account type and the amount of your initial investment, you can access lower commissions and better spreads. Lowest commission is $0 while some other accounts have it at $2.75 and $2 on Forex pairs. As for the spreads, they start at 0 pips but can average 1.2, too.
The leverage is lower if you are willing to pay more for a pricier account. You can begin with 1:500, and unlock 1:100 maximum leverage later.
The Duo Markets Offer As A Whole
Determining how much you’re able to invest reflects the offer you can afford. Lower costs bring less features like a Micro account, while better offers are more costly. There’s several account types to choose from as well as the most popular financial instruments groups for trading. The Platform used at Duo Markets is MT4 and MT5 for all devices. Let’s see the particularities.
One bright point with an unlicensed broker could be the fact that they offer the best software in the industry for trading – MT4 and MT5. Being an introduction broker, Duo Markets provides the same software and trading server as their main service provider – EuroTrader.
The powers, abilities and reliability of MetaQuotes platforms are unprecedented to this day. Most deserving for that are the exceptional tools, advanced features and customization tools and add-ons.
Duo Markets’ offer doesn’t differ much from what is usually traded and expected. With the majorly popular instrument classes available, Duo Markets has an average offer:
- Forex (EUR/GBP, EUR/USD, USD/CHF, USD/JPY)
- Indexes (AUD 200, DE 30, EUR 50, HK 50, JPN 225)
- Commodities (Gold, Platinum, Silver, Natural Gas, Sugar)
- Crypto (BTC, BNB, DOGE, DOT, ADA, ETH, LTC)
- Stocks (Nestle, AMD, Nvidia, Samsung, Tesla)
Account Types And Features
Cheapest Duo Markets account could be purchased with an initial deposit of just $25. The rest of the offer with the package names, prices and general features is the following:
- MICRO (STP) – Min deposit $20, spreads from 1-1.2 pips, leverage up to 1:500
- ZERO (STP) – Min deposit $300, spreads from 0.3 pips, leverage up to 1:300, commission from $2.75 on Forex
- HERO (ECN) – Min deposit of $10,000, spreads from 0.3 pips, commission from $2 on Forex, leverage up to 1:100
Mobile Trading App
MT4 and MT5 have a diverse adjustability. These platforms offer customized versions across all platforms. Android and iPhone users can trade using the EuroTrader apps for MT4 and MT5 for trading on the go. While it is very comprehensive and lucrative to trade on such software, do not forget that Duo Markets is unlicensed, which ultimately defeats the purpose of transparent and fair trading.
Trial Trading Options
Besides the fact that the platform is available for live trading on MT4 and MT5, EuroTrader users can also start off with a Demo. The trial period allows risk-free trading with a maximum margin of $5 000 000. This is especially attractive for Forex beginners, looking to first test the environment and learn their limits and possibilities.
Earning at Duo Markets goes through the Duo Traders – Educational Portal. There’s several levels it covers, like news, articles, events and arena.
Although extensive, the articles that these sections consist of are only in Portuguese, which significantly lowers their usefulness. Duo events and arenas are based on connecting with other traders to learn and test your own capabilities in comparison to theirs.
Duo Markets Withdrawal Procedures
Duo Markets website publishes several claimed channels for transactions:
- Credit Cards
- Bank Wire
We absolutely do not recommend investing with any company that isn’t properly regulated and doesn’t have a license for their activities. Especially because Duo Markets doesn’t have publicly posted legal docs that would guide you through the process and inform you of the potential fees and taxes.
While the website lists all these deposit methods, they aren’t completely honest about the payment providers and hidden fees. So watch out and thoroughly inform yourself before handing over your cash to anyone!
Contacting the Duo Markets support and staff mainly goes through the online form. The phone number belongs to an unknown Peruvian location and the office address isn’t that of Duo Markets but of EuroTrader. As if the situation couldn’t be any more unclear, Duo Markets as an unlicensed entity obviously tries to cover up their presence and any details that could give them away.
Duo Markets, the IB of EuroTrader is not a licensed entity. Their location, headquarters and exact company info is completely concealed. This automatically renders them not trustworthy. Eurotrade SA (Pty) Lt and the entire EuroTrade Group are already facing regulatory breaches for their offshore activities. We’d recommend you to choose a better regulated broker instead.
If you happen to be facing difficulties with withdrawals, do not be ashamed and seek professional help from our legal experts. We can advise you and offer the help you need to retrieve your investment. Do not forget – first consultation is free!
Does Duo Markets Have License?
No, this IB is not licensed to provide their services by any financial authority at all.
What Payment Methods Does Duo Markets Accept?
The website and the user panel list these methods: credit cards, wire transfers, e-wallets and crypto.
Are My Funds Safe With Duo Markets?
Safety is not expected from unlicensed entities. Contact us for help in retrieving your funds from unregulated firms!