Dolphin Markets at a glance
Offshore retail online CFD and Forex brokerage operating via MetaTrader 5 (MT5), offering high-leverage trading across foreign exchange pairs, spot precious metals, energies, and equity index derivatives alongside multi-tiered Introducing Broker (IB) partner networks.
Dolphin Markets reports a founding year of 2022 and a head office in Ebene Cybercity, Mauritius. It lists 1 regulator and 5 trading platforms.
BrokerBazaar verdict
Dolphin Markets is a small MT5-only broker licensed in Mauritius since 2022. Raw spreads from 0.0 pips, a commission-free Standard option and a low entry deposit are attractive, but the broker publishes very little detail on funding, fees and account terms, relies on a single offshore regulator with no compensation scheme, and has had its licence scope questioned by third-party monitors. Treat it as higher risk until the FSC register entry and withdrawal experience are independently confirmed.
Legal entities, regulation and licences
Dolphin Markets operates through 1 legal entity, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by no regulator we could map to a public register.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
Dolphin Markets states that it accepts clients from International (excludes residents of the United States, Canada, Cuba, Iran, North Korea, Sudan, Syria, and jurisdictions subject to international sanctions). Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Trading products, platforms and account types
Instruments: Forex (60+ currency pairs), Precious Metals (Gold, Silver), Energy Commodities (Crude Oil, Natural Gas), Equity Indices (Global Indices CFDs). Platforms: MetaTrader 5 (MT5 Desktop, MT5 iOS, MT5 Android), WebTrader, MT5. Account types: Standard Account, Raw Spread Account, Demo Account, Islamic Swap-Free Account.
Best-for tags assigned by our team: High Leverage, MetaTrader 5, Raw Spreads, Forex CFDs, Offshore Broker, Introducing Broker (IB) Network, Deposit Bonus.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is USD 100 (third-party r…. Spreads start from 0.0 pips (Raw (Super DOLPHIN)) and commission is None (Standard). Maximum leverage is Up to 1:500 (dynamic), subject to the cap of the entity that holds your account. Figures refer to Dolphin Markets Ltd (FSC (Mauritius)), the entity serving international clients, checked 28 September 2026.
Swap-free / Islamic account: not specified. Swap type: variable. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: USDT (Tether - TRC20), Cryptocurrencies, Visa, Mastercard, Bank Wire Transfer, Skrill, Neteller, Local Payment Solutions. Withdrawal methods: USDT (Crypto Wallet), Bank Wire Transfer, Credit/Debit Card.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Yes. Algorithmic trading allowed: Yes. News trading allowed: Not specified. Hedging: hedging. These conditions were compiled from public information and have not yet been confirmed by the broker.
Client-money rules follow the regulator of the entity that holds your account. Check that regulator's rules on its register.
Complaints and dispute process
Formal complaints: support@dolmarkets.com. Phone: +230 464 2668. Grievances must be submitted first to the Compliance and Support Department at Dolphin Markets Ltd. Unresolved disputes under Mauritius licensing can technically be escalated to the Financial Services Commission (FSC Mauritius) or the Office of the Ombudsperson for Financial Services. As an offshore jurisdiction, Mauritius does not operate a statutory retail investor compensation fund (such as the UK FSCS or CySEC ICF). Uninvested funds are claimed to be held in segregated banking accounts, but third-party public custodian auditing is minimal.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: FSC Mauritius Investment Dealer licence (GB22200637) with licence copy published on site
- Strength: MetaTrader 5 on desktop, web and mobile
- Strength: Raw account with variable spreads from 0.0 pips
- Strength: Commission-free Standard account option
- Strength: Low reported minimum deposit of USD 100
- Strength: Leverage up to 1:500
- Strength: Live indicative spreads published on the website
- Strength: Expert Advisors and copy trading supported
- Strength: Forex, indices, commodities and precious metals in one account
- Limitation: Single offshore regulator; no tier-1 (FCA, ASIC, CySEC) entity
- Limitation: No statutory investor compensation scheme under FSC Mauritius
- Limitation: Deposit and withdrawal methods and fees are not published on the public website
- Limitation: Account specifications (minimum deposit, commission basis) not clearly shown on official pages
- Limitation: Website is a JavaScript app with limited indexable disclosures
- Limitation: Third-party monitors (e.g. WikiFX) dispute the licence's forex scope and rate the broker low
- Limitation: MT5 only; no MT4, cTrader or TradingView
- Limitation: Relatively young company (licensed August 2022)
- Limitation: Instrument range narrower than large multi-asset brokers
- Limitation: Very few independent client reviews available
Who this broker suits, and who it does not
Dolphin Markets is most relevant to traders looking for: High Leverage, MetaTrader 5, Raw Spreads, Forex CFDs, Offshore Broker, Introducing Broker (IB) Network, Deposit Bonus.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
Dolphin Markets change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for Dolphin Markets yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about Dolphin Markets
Data sources. Broker submission, the regulator registers linked above, Dol Markets website disclosures and hosted licence PDF (DML_Investment_Dealer_Licence.pdf); Bloomberg LEI record 984500E02O8ED7B0R934, web-archive and domain records, and third-party traffic data. Last register check 2026-09-28. External ratings: WikiFX 2.15/10; Trustpilot 3.8/5; Wealth Review Report 1/5; BrokersView – Overall 4.3/10.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We may receive a referral fee if you open an account with Dolphin Markets through our links; this never affects scores or verification. How we make money. Trading leveraged products carries a high risk of loss.