BrokersView has found that Damarkets appears to be a scam Damarkets does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia, and have an office in Cyprus. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. We searched the official register of the Cyprus Securities and Exchange Commission(CySEC) using all available details, but found no record of Damarkets Ltd. or any associated company. Being unregulated is a major red flag for a fraudulent operation. Therefore, Damarkets appears to be a scam.

Does anyone have info on Damarkets? I'm trying to figure out if they're regulated or if it's a scam. Dear Investor, Upon investigation, Damarkets appears to be an irregular platform due to its lack of valid regulatory credentials. Damarkets does not assert that it is licensed by any financial authority. Instead, it only claims to be registered in Saint Lucia and to maintain an office in Cyprus. Although we were able to verify a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration merely confers International Business Company (IBC) status. This does not amount to a valid financial license, given that the IFC does not oversee or authorize forex trading activities. Additionally, we conducted a search of the official register of the Cyprus Securities and Exchange Commission (CySEC) using all available information, but found no record of Damarkets Ltd. or any related company. The absence of regulation is a significant red flag for a potentially fraudulent operation. Therefore, we strongly advise you not to share personal information or deposit funds with this platform. View Source