Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Duo Markets is allegedly a forex broker registered in Peru that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads from 0.2 pips on the MT4, MT5 and Webtrader trading platforms via 2 different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that Duo Markets currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.25/10. Please be aware of the risk.
Market Instruments
Duo Markets advertises that it offers access to a wide variety of instruments, which include forex, actions, commodities, indexes, cryptocurrencies and futures.
Account Types
Apart from demo accounts, Duo Markets claims to offer 2 types of real trading accounts, namely STP and ECN. There is no minimum deposit to open an STP account while starting an ECN account requires at least $10,000.
Leverage
The leverage provided by Duo Markets is adjusted based on certain assets. The leverage for forex trading is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
All spreads with Duo Markets are a floating type and scaled with the account types and asset classes. For example, the spread starts from 0.5 pips on the STP account and 0.2 pips on the ECN account. The EUR/USD spread is said to be 1.1 pips.
Trading Platform Available
The platform available for trading at Duo Markets is one of the most notable and preferred trading platforms the market offers - MT4, MT5 and Webtrader. The MT4 and MT5 are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Duo Markets says to work with numerous means of deposit and withdrawal choices, consisting of credit/debit cards such as Visa and MasterCard, Skrill, Neteller, cryptocurrencies and wire transfers, as well as additional methods like Pay Retailers, Sticpay, MiFinity, Perfect Money and AstroPay. There is no minimum deposit requirement.
Customer Support
Duo Markets customer support can be reached from Monday to Friday from 08:00 a.m. to 10:00 p.m. GMT by telephone: +51 942 723 709, email: support@duomarkets.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and YouTube. Company address: Unit B, Balmoral Corporate Centre, Sanford Drive, SP 62756, Nassau, Bahamas. 201 Church Street, Sandyport Marina Village, Nassau, New Providence, The Bahamas.
Pros & Cons
Frequently Asked Questions (FAQs)
