WikiFX Reviews Dollars Markets | Is It Reliable?

Background:

Dollars Markets, an online broker specializing in forex and CFD trading, has established itself as a prominent player in the industry, having operated for a duration of 2 to 5 years, as confirmed by WikiFX. Clients of Dollars Markets have the opportunity to engage in trading activities involving a diverse range of financial assets, including forex, metals, indices, cryptocurrencies, shares, energies, and ETFs.

The ownership and operation of Dollars Markets fall under the purview of the Dollars Markets Group, a collection of companies. Specifically, Dollars Markets Ltd, incorporated in Mauritius under business registration number 179703, holds a key position within this group. The physical office of this entity is situated at St Georges Building, Suite 215 22, St Georges Street, Port-Louis, 11324, Mauritius. Furthermore, Dollars Markets Ltd is also registered in Saint Vincent and the Grenadines, with its office address located at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St Vincent & the Grenadines. The registration number for this branch is 25859 BC 2020.

It is important to note that Dollars Markets does not provide its services to entities based in the United States or to residents of any kind within the country. While the company welcomes clients from around the world, various factors, including governmental regulations and internal policies, restrict the opening of accounts originating from certain countries. The following list encompasses the restricted and/or OFAC sanctioned countries, as well as high-risk and non-cooperative jurisdictions from which the company does not accept account registrations: Afghanistan, Bosnia and Herzegovina, Democratic People's Republic of Korea (DPRK), Guyana, Iran, Iraq, Lao People's Democratic Republic, Myanmar, Papua New Guinea, Syria, Uganda, Vanuatu, and Yemen.

Accounts Offered:

Dollars Markets offers 2 different types swap-free accounts:

1.Standard Account requires only a mere deposit of $15 with a minimum spread of 0.1. It allows the trading of 64 Currency Pairs, 5 Precious Metals, 12 Indicies and 5 Cryptocurrencies.

2.Pro Account is suitable for novice and professional traders. It requires a minimum deposit of $50 with a minimum spread of 0. It allows the trading of 107 Currency Pairs, 14 Precious Metals, 14 Indicies, 104 Cryptocurrencies, 158 Shares, 3 Energy and 7 ETFs.

Trading clients that are required to abide the Shariah Laws could request for an Islamic Account that do not involve any swaps or interest.

Deposit and Withdrawal Methods:

Dollars Markets provide 3 main types of deposit and withdrawal methods, which are instant bank transfers, cryptocurrency and Mastercard. Dollar Markets claim that they do not impose any fees and charges on all deposit and withdrawal requests.

Trading Platforms:

While Dollars Markets does not offer a proprietary trading platform, it provides its customers with the renowned MetaTrader platforms. Traders can choose between the widely used MT4 and MT5 versions, available in browser, desktop, and mobile app formats. Mobile apps cater to both Android and iOS users, ensuring flexibility and convenience for traders on the go.

Customer Service:

Dollars Markets provides 24/7 online customer service allowing customers to receive the necessary support and assistance anytime. Customers could also choose to contact Dollars Markets via phone (+230 214 3371) or support@dollarsmarkets.com. Alternatively, Alternatively, customers can submit messages or questions on Dollars Markets official website and wait for the customer service response.

WikiFXs Verdict:

WikiFX is a global forex broker regulatory query platform that houses verified information of over 46,000 forex brokers. We research, review and rate forex brokers from various aspects to prove their credibility.

From here, it is stated that Dollars Markets has a WikiScore of 7.41 out of 10, which means this is a fairly reliable broker.

Dollars Markets claims that it operates under the regulation and oversight of the Financial Services Commission of Mauritius (FSC), with the registration number GB21026297. WikiFX verifies the legitimacy of this license.