Jewel Markets' website fails to provide any verifiable information regarding regulatory status and merely states that its operational company, Jewel Markets Ltd, is registered in Saint Lucia. While we confirm that a matching company exists in the registry of Saint Lucia IFC, this registration merely grants it International Business Company (IBC) status, which does not constitute a valid financial license. The IFC neither regulates nor licenses forex trading activities. Besides, Jewel Markets displays an office address located in UAE. However, no matching result was found both with the database of The Securities and Commodities Authority (SCA) in UAE and Dubai Financial Services Authority (DFSA). Jewel Markets is in essence unlicensed by any recognized financial authority. Therefore, it is a scam.