ANSWER Dear Investor,
Jewel Markets is an untrustworthy platform that operates without authorisation from any recognised financial regulatory body.
Its website fails to provide any verifiable information regarding its regulatory status, merely stating that the operational company, Jewel Markets Ltd, is registered in Saint Lucia. While we can confirm that a company with the same name is registered with the Saint Lucia International Financial Centre(IFC), this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licenses forex trading activities.
Furthermore, Jewel Markets displays an office address in the UAE. However, no matching result was found in the database of the UAE's Securities and Commodities Authority (SCA). and the Dubai Financial Services Authority (DFSA).
Jewel Markets is essentially unlicensed by any recognised financial authority. This is a major red flag indicating fraudulent activity. We therefore strongly advise you to avoid trading with this broker in order to protect your funds.
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