Dowfx claims to be a EU regulated broker, however, it doesn’t provide any regulatory information to prove its words. They do not provide any contact details, along with the address. The only way of contacting the broker is via on-site form.

We have checked the terms and conditions and it turned out Dowfx is actually registered in Vanuatu. Since the VFSC regulator does not require strict proof of the company background, nor check on the implementation of the secure fund management or operation guidelines, does not require regular reporting and further on never impose fines in case of the fraud operation. You can read more about Vanuatu brokers and why they should be avoided in our detailed article.

We recommend avoiding Dowfx and choosing from well-regulated and trustworthy brokers.