The Traders Domain Review: Another Suspicious Scam Broker

To start with headquarters, this broker is based in St. Vincent and Grenadines (SVG). We all know it already as the hub for swindlers. Traders Domain FX Ltd is the official owner of this forex broker since 2017.

Many traders already had issues with this broker and there is one warning issued against them. To understand why this broker is risky for your money, read this The Traders Domain review.

Furthermore, we highly recommend that you avoid the scam brokers Demaxis and Polarbtc.

The Traders Domain Is a Scam Broker?

SVG financial regulator for trading doesn’t exist. That means that all companies there don’t have any obligation to follow any rules. Yet, the country advertises brokers to have licenses from other regulators. Mainly in the countries where they operate.

Therefore, we will look up some most trusted ones, such as ASIC, BaFin, and FCA. After detailed research and digging, we couldn’t find any traces of this broker. Instead, we found a confirmation that this is a complete scam.

The Traders Domain has no regulation, but a warning from US financial institution. It offers non-competitive trading conditions. Broker with a very bad reputation and many negative reviews.

Warnings From The Financial Conduct Authority

Information is spreading like fire these days. It’s very easy to discover if the company is genuine.

Especially if the financial institution issued an official warning against the broker. Like CFTC (Commodity Futures Trading Commission) from the US did.

What Traders Are Saying About The Traders Domain

Another key point is The Traders Domain reviews. Only on Trustpilot, there are already 397 reviews, and almost 40% of them with the lowest rating.

Many of them contain withdrawal issues content. With this in mind, we can’t even trust positive reviews.

What Platforms Does The Traders Domain Offer? – Available Trade Software

Important to realize is that a trusted trading platform doesn’t make a broker trusted as well. This is a perfect example that you shouldn’t blindly accept every offer.

Even though this broker provides MT4 and MT5, this is not enough. MetaTrader is known as reliable software with numerous features. From advanced indicators, social and copy trading to algorithmic trading.

Trading For Mobile Devices

Another benefit of MetaTrader is its availability on any device. Whether you want it on iOS or Android device, you can get it.

In fact, traders don’t lose any functionalities on these devices. That’s what makes this software so widely used among traders.

The Traders Domain’s Trading Assets and Instruments

This broker provides a wide range of tradeable instruments. All 5 major classes are covered, but that doesn’t make them more attractive. Especially considering the lack of regulations and very low protection. 

Anyway, their options are:

• Forex – EUR/SEK, AUD/HKD, JPY/USD
• Commodities – gold, silver, aluminum
• Indices – Dow Jones, Nikkei 225, AU 200                            
• Shares – Tesla, American Express, Walt Disney
• Cryptocurrencies – BNB, ADA, XRM

The Traders Domain Fraud Risk Zones – Service Countries

As we can see in The Traders Domain reviews, they are active everywhere. But they are mainly scamming traders from:

• United States
• United Kingdom
• Canada
• Bulgaria
• France

If they don’t hesitate to scam US citizens, anyone is in danger. Therefore, think twice before putting your hard-earned money somewhere.

What Are The Different The Traders Domain Account Types? 

There are 5 different options with this broker. You can choose from:

• ECN
• Standard
• Islamic
• PAMM
• Mini BTC

The only difference comes from spreads, commission, and margin call minimum requirements. All accounts require at least a $100 minimum deposit.

Can a Trader Use a Demo Account?

On the positive side, this broker allows traders to trade risk-free. But first, you have to complete a full registration form.

Same as for a live account. This leaves your personal information exposed to the scammer.

The Importance of Negative Balance Protection For Traders

Generally speaking, negative balance protection is a mandatory requirement from many regulators. Even if an offshore broker claims to offer that feature, they are not obliged to do so.

Not having this tool can get you into a huge debt. But once you realize that, it’s too late. To sum it up, this broker doesn’t have this feature.

Terms of Service for The Traders Domain

With so many negative reviews and false statements from this broker, everything is questionable. This broker accepts only two payment methods:

• Debit/credit cards
• Crypto

However, card deposits are limited to $3,000 per day. It’s because every higher amount raises suspicion among financial institutions. And they don’t have legal coverage. 

Moreover, they have fees between 2.5% to 10%, whereas some Tier 1 regulated brokers don’t have any.

Leverage, Spreads, and Fees 

Usually, offshore brokers provide extremely high leverage. The same is with The Traders Domain trading company. Their leverage goes up to 1:500. And with negative balance protection missing, it’s a recipe for failure.

Additionally, spreads allegedly start from 0 pips for some accounts. But the commission is a classic rip-off. It is $7 per lot for most accounts. Moreover, they have swap fees that are not disclosed.

The Traders Domain Partners Program

The Partners program is designed to bring more clients into these scammers’ claws. But to get more information about the program, you must register, which is another red flag. 

Most brokers provide a certain reward for every client that you bring. This looks like a standard Ponzi scheme and we all know how they end. By the company vanishing.

Scammed by a The Traders Domain Broker? – We Want To Hear Your Story.

Don’t be ashamed if these swindlers tricked you. It can happen to anyone. But it’s important what you are going to do about it.

Let us hear about your experience first. Our specialized fund recovery team can advise you properly already today. Especially if you were making a crypto transfer, our access to CipherTrace is crucial to your fund recovery. It can trace such transactions so that you can recover them.

What Is the Chargeback Procedure?

However, if you used a debit/credit card, we can request a chargeback. All money sent to these swindlers can be reversed. But only in the first 540 days. Don’t let them slip away with your money. Get in touch now and book your first consultation for free.

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