Our investigation into DUO Markets found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.
None found
High (4/4)
Undisclosed
Avoid — do not deposit
Who is DUO Markets?
On the surface, DUO Markets looks like an ordinary forex and crypto broker. Its public site is presented at https://duomarkets.com/. But surface impressions are exactly what these operations rely on — the substance behind DUO Markets is where the problems begin.
Is DUO Markets regulated?
We could find no evidence that DUO Markets holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.
Red flags we identified
- No credible physical address or verifiable corporate record
- Opaque or anonymous corporate ownership
- Aggressive “account managers” coaching clients to deposit
- Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
- Unrealistic profit claims and pressure to deposit more
Our analysis
DUO Markets is not a reliable broker for traders even though it states offers that look good to be true. First, DUO Markets claims to be a registered trademark of the company TUTORES-FX SAC but does not mention any regulatory details of this company. Second, DUO Markets claims it is a white-label introductory broker at INFINOX Capital, which is a registered trading name of IX Capital Group Limited, a company regulated by the Securities and Exchange Commission. of the Bahamas (SCB) under license number SIA-F188. We indeed find a match result to IX Capital Group Limited in SCB. However, please be informed that this is the regulated information of INFINOX, which does not mean that DUO Markets is also regulated. Downloading this broker's official MT4 trading platform, we found this broker locates in Peru. As per the information we hold, Peru currently has no regulatory body that issues licenses for forex trading nor regulates entities engaging in forex services. The truth is that DUO Markets is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Can you recover money lost to DUO Markets?
If you have deposited with DUO Markets, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.
Were you scammed by DUO Markets?
You may still have options. Our team can trace where your funds went and tell you honestly whether recovery is realistic — with a free, confidential case review.
Start a free recovery review →Warning: never pay an upfront fee to anyone “guaranteeing” recovery. Cleverecovery does not guarantee outcomes.