TradersDomain Review – Not So Many Reasons To Trust Them

Traders Domain FX Ltd from St. Vincent and Grenadines is the official owner of the company. Since 2017 they are present worldwide but mainly in the US. However, they were confronting strict regulations and laws, but not for a long time.

By reading our TradersDomain review you can find out more about their fraudulent activities. But, we encourage you to take a closer look at our FinanceCapitalfx and Novatech fx reviews. Knowledge is the only thing to keep you safe.

 TradersDomain Regulation and Funds Security

Fund security is mainly obtained through trusted regulations. Since St. Vincent and Grenadines regulators don’t provide FX licenses we are looking elsewhere. According to analysis, the TradersDomain scam broker was mainly operating in the US. With this in mind, we are checking first CFTC as one of the main US Tier 1 regulators. Thus, the broker was never on their list of licensed entities.

On the contrary, this scam broker was on their warning list. This is practically the lowest point where a brokerage can get. This means that everything this broker claims is fictive. Moreover, with only one goal – to extract money from traders and vanish.

Indeed, that’s exactly what happened because the broker’s website is not active anymore. In case they come back under a different name, you will be equipped with the necessary knowledge after reading our TradersDomain review.

 Trading Platform Overview

Huge disappointment comes from the fact that they offered MT4 and MT5 platforms. These are highly trusted third-party software. Traders can enjoy multiple advanced features like EAs, social trading, scalping, and many more. Also, traders could do that on any device.

But, without transparent terms of use and withdrawal policy that software is useless. Especially if traders can’t get their money out. That’s why regulation plays a key role in trading.

TradersDomain Account Types

 Account types are mainly designed to attract traders to deposit more money. With licensed brokers that’s a win-win situation. Traders get better trading conditions and the company gets more profits from fees, spreads, and commissions.

TradersDomain account types consisted of:

• ECN
• Standard
• Islamic
• PAMM
• MINI BTC

Important to realize that the minimum deposit for all account types starts at $100. The main difference comes from spreads and commissions. Generally speaking, the commission is $7 for the round turn. Except for an Islamic account that would cost you $9.

On the positive side, the company was providing a demo account to its traders. Sadly, there was no option for micro-trading.

Deposits and Withdrawals

With TradersDomain scam broker traders could use three payment options:

• Debit/Credit cards
• Crypto transfers
• Bank/Wire transfers

As we can see from TradersDomain reviews, the main issue with this broker was withdrawals. But also we can see that broker was promoting mainly crypto transfers. In fact, that’s how they protected themselves. Crypto transfers are hardly traceable, irreversible, and anonymous transfers.

The broker was using illicit tactics to prevent withdrawals until they freeze your account. Of course when they realize they can’t get more money from certain traders. That’s why many traders opted for chargeback options with experts.

Methods Used to Commit the Scam

The main tricks that this broker was using are in regards to withdrawals. Firstly, traders might face issues with documents. It sounds logical that the company requires additional verification. Thus, that’s just a tactic to prolong the process. To back up those stories, scammers are using AML laws. But also bonus policies if they have some.

On top of all, don’t be surprised if you are required to pay additional fees or taxes. But don’t fall for it. That’s all fictive and their last attempt to get the last penny from you. Whether you send them more money or not, they vanish.  

TradersDomain Summary

As an offshore broker, nobody expected much from them. Especially after a warning from CFTC. Which led to the broker disappearing. This is a perfect example that trusted software doesn’t mean complete security. After all, numerous negative reviews should be a warning sign.

We know it hurts when hard-earned money is lost. Don’t let it be. Our specialized fund recovery team is there to assist you. Whether you need to file a chargeback or trace cryptos, our team can help you. With CipherTrace software even cryptos are traceable. Get your first consultation now.

FAQs About TradersDomain Broker