Beware! Do-Ex Latam is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Do-Ex Latam represents itself to be a regulated and established forex broker. But this website is actually an example of why you should always do careful fact checking before you put your money on the line. In this review, we will show you the evidence that Do-Ex Latamis not a legitimate broker, but a scam. In addition, we will point you in the direction of more trustworthy investment brokers.

Do-Ex Latam Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Do-Ex Latam
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

Do-Ex Latam claims to be based in Germany and to hold licenses from financial regulators in two other jurisdictions, Cyprus and Dubai. But the website does not provide information on the legal entity and details of the regulatory licence.

The text of the Terms and Conditions also does not mention a company name, and lists the offshore jurisdiction of Vanuatu as the applicable jurisdiction.

A check of the records of all relevant financial regulators shows that no licensed broker using the Do-Ex Latam trade name and domain exists in these jurisdictions.

Financial authorities in another country, Russia, have blacklisted Do-Ex Latam.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Investments Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

Do-Ex Latam Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Do-Ex Latam platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality. We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Do-Ex Latam Trading instruments

Do-Ex Latam
FP MarketsYesYesYesYesYes

In theory, Do-Ex Latam offers trading in currency pairs, stocks, indices, commodities and cryptocurrencies. But in practice this trading is undoubtedly fictitious. It is in your best interest to trade only through established and authorized forex brokers.

Do-Ex Latam Spreads and cost of trading

Do-Ex LatamXMFP MarketsOcta
Spread EURUSD0.
Spread GBPUSD0.11.31.5x
Spread USDJPY0.11.31.5x

In the trading platform we see a spread of only 0.1 pip. This suggests that the broker charges some commission for trading. But Do-Ex Latam does not provide clear information about the price paid by the trader.

Do-Ex Latam Maximum leverage

Do-Ex Latam100:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

Do-Ex Latam offers leverage up to 1:100, which is also proof that this is not a licensed broker operating legally in the European Union. All EU regulators limit leverage to 1:30 for major currency pairs, 1:20 for non-major pairs, gold and major indices, 1:10 for other commodities and non-major indices, and 1:2 for cryptocurrencies.

Higher levels of leverage are only offered to professional clients who trade entirely at their own risk. If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Do-Ex Latam Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

Do-Ex Latam only allows the deposit of funds with cryptocurrencies. This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Do-Ex Latam Minimum deposit

Do-Ex LatamXMFP MarketsOcta
Minimum deposit$1000$5$100$100

Do-Ex Latam requires a minimum deposit of 1000 USD, which is significantly higher than what you need to open a trading account with a licensed broker. The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit, sometimes just USD 5. You have no good reason to take chances with shady brokers like Do-Ex Latam.

Do-Ex Latam Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Do-Ex LatamNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Do-Ex Latam does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

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