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DuxMarket

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Operating status: SCAM

Website: https://www.duxmarkets.com/

Broker violations and abnormal records
  • 2022-05-25 BrokersView has reviewed that DuxMarket is an unregulated forex broker

    DuxMarket claims its regulation by the US National Futures Association (NFA) under ID No. 0524124. We indeed found a matching result in NFA's registry, however, DuxMarket is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, DuxMarket doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

    DuxMarket claims its regulation by the US National Futures Association (NFA) under ID No. 0524124. We indeed found a matching result in NFA's registry, however, DuxMarket is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, DuxMarket doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.
  • 2022-07-07 BrokersView has found that DuxMarket is not working

    On 8 Jul 2022, BrokersView found the domain https://www.duxmarkets.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    On 8 Jul 2022, BrokersView found the domain https://www.duxmarkets.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

Related Complaints

Q&A

Does DuxMarket have downloadable app?

Samuel Kwadwo Acquaah
Bulgaria
2022-06-29
ANSWER DuxMarket is not a licensed or regulated broker even though it states offers that look good to be true. DuxMarket claims its regulation by the US National Futures Association (NFA) under ID No. 0524124. We indeed found a matching result in NFA's registry, however, DuxMarket is not under valid regulation by NFA as it is not an approved member of the regulator. The truth is, DuxMarket is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like DuxMarket and trade with licensed brokers.
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