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WikiFX Review: Dominion Markets, too good to be real?
Abstract：Dominion Markets, a forex broker founded in 2020 currently caught our eye. Is this broker reliable? This article may give you some clues.
About Dominion Markets
Founded in 2020 and registered in Saint Vincent and the Grenadines, Dominion Markets is an online ECN Forex broker that was established to provide trading environments on MetaTrader 5 for traders across the globe. The firm was organized by a team of traders and educators to provide a competitive and fair environment for its clients to trade in. The broker offers over 200 forex pairs, major indices, and other financial instruments. However, WikiFX has given this broker a fairly low score of 1.32/10. Why？
Regulation
According to WikiFX, this broker is not a regulated broker. This means that this broker does not hold a legitimate license from any regulatory institution. Traders who are interested in Dominion Markets should be aware of the potential risks related to this broker.
Account Types
Dominion Markets allows traders to choose the account type that meets their trading needs from a choice of two live trading account options: Standard STP and Pro accounts. The minimum deposit required to start trading is $100. PRO accounts offer spreads from 0.0 pips with a commission charge of $3.50 per 100K traded based on the USD notional value. Standard accounts offer spreads from 1 pip with no additional commission charges. Additionally, a demo account is available for practice purposes.
Exposure
WikiFX has received a couple of complaints against this broker from the traders. The problem that people complained about the most lies in withdrawal rejection, which is a typical characteristic of scams.
User Reviews
The interesting thing is, when you check the Dominion Markets page on WikiFX, you will find that in the “User Reviews” section, there are up to 22 comments about this broker and most of these comments are positive and many traders gave this broker a 5-star rating.
Restricted Regions
Founded in 2020, Dominion Markets is an online ECN Forex broker that was established to provide trading environments on MetaTrader 5 for traders across the globe.
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Conclusion
Due to its low score and unregulated status, we advise people to do more research and make themselves comfortable before making any action.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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UNIGLOBEMARKET Analysis Report
UNIGLOBEMARKET presents a mixed picture that demands careful consideration from prospective traders, earning an overall rating of 5.5 out of 10 with a "Use with Caution" designation. Based on 55 trader reviews, the broker shows a concerning 40% negative rate, though it's worth noting that positive reviews still outnumber negative ones with 31 favorable assessments compared to 22 unfavorable ones. Read on for an insightful review.
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