Is Dupoin legit? Three legal entities in three countries

At least three different legal entities (the specific company that signs the contract with you) carry the Dupoin name, registered in three countries. The entity serving Vietnamese clients is not the one holding the licence you usually see on display.

The Vietnamese-language page dupoin.com/vn names only two units: one in Mauritius and one in Anjouan (Comoros). The words “BAPPEBTI”, “JFX” and “Indonesia”, which appear on the profile cards, do not appear even once on that page.

This is not an accusation of fraud. No authority has reached such a conclusion, and one of the licences named above is real and still valid.

This is about legal entity structure: knowing who actually holds your money, and which body has the power to make that company pay.

Three legal entities, three countries, and which one holds your account

The table below combines three different primary sources: Dupoin’s own Vietnamese legal page, the licence page of Dupoin Indonesia, and the UK company register, Companies House (a register is the public list kept by an authority).

The dupoin.com/vn page names Mauritius, Anjouan and Comoros, with licence numbers L15624 and GB26206263, and does not mention BAPPEBTI, JFX or Jakarta. The contact address on the page is 40 Silicon Avenue, Suite 201, Level 2, The Catalyst, Ebene, Mauritius.

We have met the same pattern at IQ Option, where the European licence belongs to an entity that serves only European clients while Vietnamese clients sign with another one, and at Neotech.

We have come across this pattern often enough to write a whole article on how to spot it: forex brokers that change names and split entities, and how to read the traces.

Anatomy of a profile card: where each badge comes from

A reader sent us a screenshot of Dupoin’s profile card in the WikiFX app.

On a single screen, the reader sees: the UK flag with “10-15 năm” (10 to 15 years) · a green “Có giám sát quản lý” (regulated) label · a score of 8.24/10 · two regulators, BAPPEBTI and JFX · and a website field reading https://dupoin.com/vn/.

Skimmed, it all merges into one impression: a British broker, long established, regulated, highly rated. Take each badge apart, though, and they come from three different companies:

• UK flag + “10-15 năm” → matches DUPOIN UK LTD, incorporated on 24/02/2014 (12 years and 6 months to date, right inside the “10-15 years” band). This is the company now facing strike-off, and it is not named as your counterparty anywhere on the Vietnamese page.
• BAPPEBTI + JFX → belong to PT Dupoin Futures Indonesia. This is an Indonesian futures brokerage licence, overseen by Indonesia’s Ministry of Trade and granted for business in Indonesia.
• The website field dupoin.com/vn → run under the names of Dupoin International (MU) Ltd and Dupoin Markets Ltd.

In other words, the legal entity that would actually sign the contract with a Vietnamese client does not appear in any badge on the card. No single badge is false on its own. The problem is that they sit side by side, and the reader assumes they all describe the same thing.

Aggregator sites such as WikiFX are tier-3 sources, useful for cross-checking but not a basis on their own.

A score given by a third party is not a licence, and it is not the conclusion of any regulator either.

The UK flag points to a company that has applied to strike itself off

You can check this for free in two minutes on the UK company register.

DUPOIN UK LTD, company number 08909079 · incorporated 24/02/2014 · type Private limited Company · registered office Bloc, 17 Marble St, Manchester, M2 3AW · declared business activity (SIC code) 64999. Financial intermediation not elsewhere classified · status as of 14/08/2026: “Active proposal to strike off”.

The filing history shows two dates:

• 06/06/2026, form DS01, Application to strike the company off the register. This application was filed by the company itself, a voluntary dissolution, not enforcement by a regulator.
• 16/06/2026, GAZ1(A), the first Gazette notice of the voluntary strike-off.

Two things need to be kept apart here, not lumped together.

First, a UK company registration is not a financial licence. Anyone can set up a company at Companies House for a few tens of pounds and declare its own line of business. SIC code 64999 is a code chosen by the filer to describe the activity.

It implies no vetting or licensing of any kind. The financial licensing authority in the UK is the FCA, entirely separate from Companies House. A company with a UK registration number but no FCA reference number is not allowed to offer regulated financial services in the UK.

Second, applying to dissolve a company is legal and normal. Businesses close entities they no longer use all the time, and we draw no conclusion about the motive.

The only point worth making is this: the flag on the card readers saw in August 2026 points to a company that had already filed to be struck off in June 2026. The “10-15 years” age also belongs to that company, not to the entity that would hold your account.

You can check it yourself: go to find-and-update.company-information.service.gov.uk, type the company name and open the Filing history tab. No account needed, no fee.

The Anjouan licence is real

The public register of the Anjouan Offshore Finance Authority (registered on an island state, where supervision is much lighter) records:

Dupoin Markets Ltd · Licence No. L15624/DM · Category Brokerage/Finance · Valid until 26th January 2027 · Status Active

This licence IS real on that register and still valid.

What you need to understand is what that licence gives you. Anjouan is an island in the Union of the Comoros. The licence covers serving non-resident clients, and the whole register lists 404 entities ever registered, 152 of them currently valid: the scale of a very small authority.

There is no statutory compensation fund (a fund that pays clients when a licensed firm goes bust), and no dispute-resolution mechanism that a client in Vietnam could actually reach.

A comparison to make it concrete: clients of a broker with an FCA (UK) licence are protected by the FSCS up to 85,000 GBP by law. Clients of the Anjouan entity have no equivalent mechanism.

But “check it on the register” has its own problem in Anjouan: there are at least four registers

The advice “look it up on the regulator’s register yourself” only makes sense when there is only one register. Here there is not.

At least four live websites present themselves as the Anjouan Offshore Finance Authority, each on a different server: anjouanofa.org, anjouanoffshorefinancialauth.org, anjouanoffshorefinancialauthority.org and anjouanoffshorefinauthority.org.

At least three of them have their own register search box, and one introduces itself with the sentence “Welcome to the offical Website & Registry of the Anjouan Offshore Finance Authority (AOFA)”.

The word “offical” is a spelling mistake sitting on the home page of something that calls itself a state regulator.

The domain aofa-comoros.org, from an email address once mentioned in English-language reviews, does not exist.

The anjouanofa.org page that lists the licence has no link at all to a Comoros government domain, and states that the membership of its Board “is a matter for the state gazette and is not kept on this website”.

What this means for you: it is a layer of risk few people mention, but a very real one. With licences from tiny markets, your ability to verify for yourself depends on the infrastructure of a body whose identity you have no way to confirm.

When four addresses claim the same name, the question “which register did I just check?” has no certain answer. A licence you cannot be sure you are checking in the right place gives you close to zero protection.

Lookup tools of other small-market regulators have the same problem: South Africa’s FSP register and Belize’s public register have both been unreachable (details in the articles on Neotech and Weltrade).

Set that beside the FCA or ASIC, whose registers run reliably and can be searched at any time, and where nobody has to ask “which register is the real one”, and the difference is huge.

The Mauritius licence number comes from Dupoin itself

The number GB26206263 is published by Dupoin itself. FSC Mauritius has a public register where you can look it up. If you get a different result, please let us know so we can correct it.

In Vietnam, none of these licences has any effect

This part holds for every international forex broker, not just Dupoin, and it bears repeating because every other risk rests on it.

The State Bank of Vietnam has stated that it has not licensed any forex broker in Vietnam. The Mauritius licence is valid in Mauritius; the Anjouan licence is valid in Anjouan; the BAPPEBTI licence is valid in Indonesia.

None of those bodies takes complaints from a resident of Vietnam, and no mechanism can force a foreign entity to pay a Vietnamese client.

More on the legal framework: is forex legal in Vietnam.

One small detail worth recording: Dupoin’s Vietnamese page states that the broker does not serve residents of the United States, Malaysia, North Korea or places where the law forbids it. Brokers’ restricted lists usually include the United States (very strict rules) and North Korea (sanctions).

Malaysia being in the same group is unusual, and the page gives no reason.

What Dupoin does right

Three points are real and deserve credit:

• A public, specific legal page. Many offshore brokers write only a vague “internationally licensed”. Dupoin names the entity, the licence number, the registration number and the address. That is more transparent than the norm among brokers in the same segment.
• The Anjouan licence is real and still valid on the register, not an invented number.
• A risk warning and a list of restricted countries sit right on the Vietnamese page, as is standard practice.

The other side also needs saying: a group running several entities in several countries is normal and legal. Many large brokers do it. Exness, XM and IC Markets all run several entities by region.

What matters is whether the reader is told which entity they belong to, and what protection that entity offers. With a broker that has a European or Australian entity, the answer can be checked in a minute. With a Mauritius + Anjouan structure, it cannot.

How to check any broker yourself in five minutes

This process applies to every broker, not just Dupoin. Follow it in order:

1. Open the broker’s own legal page, in the language you will register in. The English and Vietnamese pages of the same broker may name different entities. Write down the entity name and the licence number.
2. Search by the licence NUMBER, not by the brand name. A brand name can change; the number does not. (This is the exact trap in the IQ Option file, where the register shows an entity name quite different from the brand.)
3. Check whether that register is the real one. A real regulator usually has a national-level domain or a link from a government portal, and has only one website. Several domains claiming the same name is a signal to stop.
4. Compare the entity name in your account agreement. After you register, the name in the terms is the party you actually signed with. If it differs from the name in the register you just checked, that licence does not protect you.
5. Run a small deposit → trade → withdraw EVERYTHING loop before depositing a large amount. A partial withdrawal checks nothing, because the threshold that triggers requests for extra documents usually sits higher.

We maintain a lookup table of brokers with warnings, with a link to the primary source for each file, updated from the data in our articles.

A Vietnamese-language page also does not mean real Vietnamese support when you need to complain; that difference is covered in the article on forex brokers with Vietnamese support.

If you came to Dupoin through a copy-trading invitation

Many Vietnamese people hear about brokers in this segment through an invitation to copy trades: someone leads, and you just deposit and follow.

Two risks need to be told apart, because they add up rather than replace each other:

• Entity risk: however skilled the lead trader is, your money still sits with the entity described above.
• Copying risk: a copy account does not run the same as the lead account. Differences in volume ratio, fill timing and margin level can blow up the copier’s account before the leader’s, even with more capital.

We analysed a real lead/copy account pair using the figures on the trading screens themselves, and the result was surprising: read it in the article on whether copy trading is worth it. If you are not sure how the mechanism works, start with what copy trading is.

Conclusion: the right question is not “is Dupoin legit”

“Legit” is an adjective, and an adjective cannot be looked up. The question that can be checked, and the one that decides what happens in a dispute, is this:

“If I cannot withdraw my money tomorrow, whose door do I knock on, and does that body have the power to make the other side pay?”

For a Vietnamese client of Dupoin, going by exactly what the broker’s Vietnamese page publishes, the answer is: a body in Mauritius, or a body in Anjouan whose official website cannot even be identified with certainty.

Not BAPPEBTI. Not any body in the UK. And not any body in Vietnam.

We do not conclude that Dupoin is a scam, because there is no authority’s conclusion to cite, and making such a claim without grounds is something we do not do.

But knowing which licence you stand under is the minimum right of anyone putting money in, and with the information above, you now know.

Next: if you came here because of a copy-trading invitation, read whether copy trading is worth it, which analyses a real lead/copy account pair using the figures on screen.

If you want to compare Dupoin with brokers whose licences can be checked, see the lookup table of brokers with warnings or our sourced broker reviews.

Company status, licences and website content may change. If you believe any information is inaccurate, please get in touch so we can correct it.

Spotted something inaccurate? Tell us and we will check it and publish a correction.