DuraMarkets Review

Introduction

DuraMarkets is a CFD and forex brokerage that started operations quite recently. The brokerage is registered in and operates from the Union of Comoros under registration number HT00224018. The company is regulated by MISA (Mwali International Services Authority), and being a MISA regulated brokerage, DuraMarkets can offer flexible trading conditions like offering a high leverage, automated trading strategies, etc. In addition to being regulated, the company also holds multiple ISO certifications for Business Continuity Management System, Information Security Management System, and Quality Management System. 

The company checks many boxes when it comes to offering services that many traders usually look for. The low barrier to entry with a very low required minimum deposit of $10, high leverage, very low spreads, bonuses on deposits, 24/5 customer service service, multiple trading account types, free VPS, access to industry leading trading platforms, and access to a wide range of tradable assets. 

Despite being a new company, DuraMarkets offers a very complete set of offerings catering to different segments of traders. Learn more about this company in this detailed broker review. 

Supported Countries

Most brokers don’t accept clients from every country. It usually happens because of local and international regulations. The same is the case with DuraMarkets. However, the company only restricts a few countries and accepts clients from most geos. Therefore, it is easier to make a list of restricted countries instead. 

The following are the countries where DuraMarkets does not offer its services: 

1. Afghanistan
2. Bangladesh
3. Belarus
4. Burundi
5. China
6. Cuba
7. Congo
8. India
9. Pakistan
10. Sudan
11. Sri Lanka
12. North Korea
13. Yemen

Our website is geotargeted, and set up in a way that traders can see if a broker offers services in their country or not. 

A straightforward way to check the availability of a brokerage in your country, the best way is to head to their sign up. If you can create an account with a company, it means they accept clients from your country. Otherwise, you cannot complete the sign up process. 

Average Customer Rating

Before committing your funds with any broker, it is highly advisable to see what their customers say about them. The average customer rating and reviews can usually tell you a lot about the quality of service. We have a dedicated section where traders can share their feedback about different brokerages they have traded with. For newly onboarded brokers, we usually quote the average customer rating shared on Trustpilot. 

At the time of writing this review, DuraMarkets has a very good 4.7-star rating based on 259 reviews. The company also has a free demo account where traders can test the service risk-free. 

Trading Platforms

The trading experience with any broker depends significantly on the trading platform. Your access to different trading strategies, charting tools, and advanced features depends on the trading platform. DuraMarkets offers MetaTrader 4 and MetaTrader 5 trading platforms, capable of automated trading with Expert Advisors (EAs). The company also offers a free VPS (conditions applied), which traders can utilize for faster execution and to avoid slippage.

Accessibility is another major quality of both these platforms. Traders can access both MetaTrader variants via desktop applications, Android and iOS platforms, or straight from their browsers. 

Customer Support

Customer support is oftentimes a deciding factor for traders and rightly so. Things you should look for in any broker’s customer service are availability and quality. Other features like support in different regional languages is usually a nice-to-have feature that some brokers offer.  

DuraMarkets support is available 24/5, which means traders can reach the support staff on all trading days no matter which timezone they live in. The company offers customer support via live chat, email, and phone. You can reach them via email at [email protected] or call them at +1 971 434 5122. For live chat, you can head to their website. 

In our testing, we have found the support friendly and knowledgeable. There were no waiting queues and we had fast responses. 

Leverage and Spreads

Leverage is a multiplier that allows traders to control bigger positions against their investments. In other words, a high leverage basically creates a high risk/reward situation for traders. DuraMarkets offers very high leverage of 1:500. In contrast, brokers regulated in the EU and US have leverage capped at 1:30 and 1:50 respectively. 

The company offers low spreads on all trading accounts. The spreads are as low as 0.0 pips with the highest spreads at 0.6 pips. However, commissions apply on round turns on all account types besides Zero Accounts. Even without commissions, the applied commissions on a Zero account start very low at 0.4 pips. 

Deposit and Withdrawal Methods

Traders have to deposit and withdraw funds a lot of times. Therefore, it is highly advisable to check deposit and withdrawal methods a broker offers beforehand. Unlike many brokers, DuraMarkets does not offer multiple payment methods as the company does all transactions via cryptocurrencies. This can be a challenge for many traders who do not have a crypto wallet. 

But on the bright side, the broker does not charge any fees on deposits and withdrawals. Also, the withdrawals are processed within an hour where many brokers take anywhere from one day to up to a week. 

Company Details and Regulations 

DuraMarkets is a brokerage registered (under registration number HT00224018) and licensed (license number BFX2024032) in the Union of Comoros. The company’s registered address is P.B. 1257, Bonovo Road, Fomboni, Comoros, KM.

Being a regulated broker, the company is compliant with AML (Anti-Money Laundering) and KYC (Know Your Customer) policies. 

In addition to being a regulated broker, the company also has multiple ISO certifications demonstrating high standards of operations. These certifications include ISO 22301:2019 for Business Continuity Management, ISO/IEC 27001:2022 for Information Security Management, and ISO 9001:2015 for Quality Management. The company also has a D-U-N-S number (851753746) from Dun & Bradstreet which further adds to the company’s credibility.

Conclusion

DuraMarkets offers a comprehensive set of services expected from any established brokerage. In addition to offerings like high leverage, powerful trading platforms, and access to CFDs across 5 markets, the company also offers a generous deposit bonus and a free VPS for traders with deposits above $5k. 

It is also important to note that the company lacks strict oversight from a tier-1 regulator. As an offshore regulated broker, the company is not a part of investor insurance schemes. Lastly, the payments can be a hassle for some traders who prefer traditional payment methods over cryptos. 

All things considered, we believe DuraMarkets can be a good fit for many traders including those who prefer high leverage trading with low spreads and support for automated trading strategies.