Heard of Thetradersdomain.com trading platform? Really want to find more details before choosing the broker? You can carefully read the The Traders Domain reviews to know about this forex broker whether to use or not.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
The Traders Domain
The Traders Domain otherwise known as Thetradersdomain.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Furthermore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is The Traders Domain a Scam Forex Broker?
First of, The Traders Domain is operated by Traders Domain FX Ltd with an incorporation in Saint Vincent and the Grenadines (SVG).
But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
Regrettably, the CFTC (Commodity Futures Trading Commission) from the US warns that The Traders Domain has no legit forex license and no authorization to offer financial services of any kind to customers in the province.
Following this, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does The Traders Domain Have Account Types?
The Traders Domain offers different trading account for traders like ECN, Standard, Islamic, PAMM and Mini BTC. The broker provides a leverage capped 1:500.
The Traders Domain minimum deposit is specified to be $100. For such amount some licensed FX brokers can offer clients trading rate as low as $100 with the assurance of their trading funds.
This broker allows payment options like Debit/credit cards and even cryptocurrencies.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
The Traders Domain Trading Software
The Traders Domain offers popular trading platform MetaTrader 4 (MT4) and MT5. The presence of these traders does not change what this broker is – unlicensed platform.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
The Tradersdomain.com Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Thetradersdomain.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Funda Markets broker appears like a reliable trading platform, however, you should not take the words they say and the attractive website layout. By all appearances, the broker lacks one important indicator – its license. Thus, traders should steer clear from an unlicensed broker as its likely run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was the information helpful? Please share with us your experience in the comment section below. Thank you!
Heard of Mft-trade, Actionmarkets , Betail-capital, Forextimeprime brokers? Read Details
