The Traders Domain is a long-lasting financial fraud. The company has been on the market since 2017, and its offer looks quite genuine. The website can easily be compared with any of the licensed brokers. The only difference is in the license.
Read our thorough The Traders Domain review and learn about fund safety.
The Traders Domain owner is Traders Domain FX Ltd, registered in October 2017 in Saint Vincent and the Grenadines. However, this registration means practically nothing to you as a retail trader.
Upon researching their databases, we found nothing. In fact, worse than nothing. We found a warning stating that The Traders Domain broker solicited investors without appropriate supervision.
A glance at their trading terms confirms this. There’s a leverage limit for retail traders in most Tier 1 jurisdictions. We have a limit of 1:30 in the UK, the EU, and Australia, while the US allows up to 1:50. The Traders Domain offers up to 1:500, violating all regimes.
The Traders Domain is an unregulated offshore trading broker. The company has been banned in the US for offering financial services without a license.
It is soliciting investors from across the country without CFTC’s approval. Therefore, their name found a place on the red list of warnings for investors.
Seeing the aforementioned warning, we were not surprised to learn that The Traders Domain mainly advertises its trading services in the US. We also found them present in the following countries:
The firm registered its domain at the same time as its owner in October 2017. They earned quite a bad reputation among investors, which will be displayed throughout this review.
We turned to Trustpilot to find out what investors think of The Traders Domain. At the time of writing, we found 402 reviews, with the broker rating poor, having 2.7/5 stars. Many of the recent reviews indicate that clients cannot get their money back and must start legal action against the brokerage.
Let’s talk about something positive at last. For instance, The Traders Domain trading platform. The company offers both MetaTrader versions, MT4 and MT5. They’re known as the industry standard due to a large number of features, including social trading and EAs.
While a good platform is half of the job done, it’s not enough. Other offshore brokers, such as 360 Capital Ltd, offer terrific software. And yet, customers were experiencing issues with withdrawals.
So yes, you will enjoy trading, but will you be able to withdraw your profit? We wouldn’t say so.
Both MetaTrader terminals have dedicated apps for Android and iOS-based devices. You can download the app through the link on the broker website or directly from the Google Play Store or Apple Store.
Once you do so, you’ll choose your broker, enter login details, and you’re ready to trade on-the-go.
You can choose between five asset classes, pretty much like with any broker. These are:
It’s a pretty solid range, but let’s not forget this broker has been banned for offering products without authorization.
Well, here we have a lot of questions. For instance, the account types page indicates that the spread starts from 0.0 pips. However, the trading conditions page suggests that the average is 1.5 pips plus an additional commission of $7 per lot.
What’s for sure, you won’t be treated fairly simply because you have nowhere to complain.
Here are the five The Traders Domain account types:
The minimum deposit for each is $100. The spread varies based on the account type, but the leverage remains the same. The Islamic account has a higher commission – $9 per lot since it has no swaps.
The only account without a commission is the Standard one, while the others include additional payments.
Yes, you can use The Traders Domain Demo account. Both MT platforms enable risk-free testing of the system.
However, it’s just bait. Once you register, you provide your broker with your personal information. Then, they can call and pressure you to upgrade to a Live account or otherwise misuse your data. There’s no reason to risk it when you can register with a regulated broker and keep your information safe.
As mentioned, numerous reviews point out issues with The Traders Domain withdrawals. The company accepts the following payment methods:
Investing via crypto is the most dangerous thing, as you cannot request a chargeback. Additionally, tracing crypto is more complex than tracking funds transferred through traditional means of payment, such as credit cards or bank transfers.
We’d like to hear your story if you’re facing any issues, from demands to pay additional money under taxes and fees to rejected withdrawal requests.
If you’re facing financial losses as a result of The Traders Domain scam, don’t hesitate to report it. Global Fraud Protection has chargeback experts and crypto analysts ready to assist you with this matter.
Despite all the threats, we won’t stop helping people in need. Share your story today by booking a free consultation! We’re here for anything you may need.
The Traders Domain is not a legitimate broker but an offshore fraud. If you have already invested money, report it now so that we may be able to assist you.
Yes, The Traders Domain offers mobile apps – MT4 and MT5.
Your money is not safe with The Traders Domain, and the company has received a warning from the US CFTC.
The Traders Domain is not a legitimate broker but an offshore fraud. If you have already invested money, report it now so that we may be able to assist you.
Yes, The Traders Domain offers mobile apps – MT4 and MT5.
Your money is not safe with The Traders Domain, and the company has received a warning from the US CFTC.
The post The Traders Domain Review – The Traders Domain Review of a Scam appeared first on Global Fraud Protection.
