ANSWER Although it is registered with the Marshall Islands Registry (IRI), Dowmarkets, a forex broker, remains unsupervised by any regulatory body. As such, we strongly suggest you steer clear of this platform whose offering of investment services/products is in the absence of the required authorization.Despite us having located a firm called Update Ltd on the IRI register, the firm Dowmarkets claims it belongs to, it is crucial to note the IRI only a privately held registrar of companies and it has no authority to issue licenses for forex trading and brokerage. Therefore, Dowmarkets falls outside the regulatory framework.In conclusion, due to the unlicensed status, Dowmarkets comes with significant risks, such as financial losses and identity theft, as there are no rules in place to protect investors from fraud or theft. Therefore, we highly recommend avoiding unlicensed brokers like Dowmarkets and instead choosing a fully regulated one.
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