DominionMarkets Review: The Story Behind This Broker

Considering that this is an offshore broker, expectations are not high. However, we need to go through all the details and offers of this broker to find out if they are legit or not.

At first glance, you might think that this is a good choice. However, getting behind the scenes reveals the dark truth that the broker is trying to hide.

Who Is DominionMarkets Broker?   

Under the ownership of Dominion Markets LLC, this brand is operating since 2020. For such short existence, they didn’t bring much credibility to the game.

Firstly, the company doesn’t reveal many contact options. Especially not the ones that make brokers reliable like phone numbers. Secondly, they don’t present traders with the costs of trading. Which leads you instantly to rethink your decision to invest here.

Regulation and Funds Security of DominionMarkets

Regulation as the key point of every broker is the biggest issue here as well. Since they can’t get the necessary licensing in SVG, they must look elsewhere. The most appropriate choices are always the countries where the broker operates. But not exclusively. We are checking the first UK FCA, German BaFin, and Australian ASIC.

Sadly, the results were not good. Dominion Markets founder decide not to go that route. Not only that the broker is not regulated, but we came up with a warning. Indeed, not from a regulator that is to be made fun of it. It’s the Russian Central Bank!

To learn how to diversify brokers by quality, security, and transparency check our other reviews. But the first latest updates on Tradercr, Platin Markets, and Aswissa reviews.

DominionMarkets Broker Profile

The only positive thing about this broker is the availability of Dominion Markets MT5. But we already learned the hard way that trusted software doesn’t make a broker trusted as well.

Except for that, all other services, tools, and conditions are irrelevant. Because they can’t back it up with licensing.

Is DominionMarkets Broker Safe?

To sum it up, no. Start with the question is Dominion Markets regulated? Firstly, the broker is using leverage that doesn’t meet any regulations. They allow traders to use 1:500 leverage without negative balance protection. There are no compensation funds or segregated bank accounts for clients’ deposits.

Without transparent fees and demo accounts, traders can’t test this broker. Practically, you have to rely on luck while depositing here. Thus, with scam brokers luck is never on your side.

DominionMarkets Traders Reviews – Sharing Experiences

Throughout any Dominion Markets forex review, we can see that they are at least dominating in one stat. That’s the percentage of scammed traders. Almost 30% of traders are reporting issues with this scam broker.

Mainly commented issues are regarding blocked accounts, high fees, commissions, and withdrawal issues. Practically the broker is misleading traders in numerous ways. If you were experiencing something similar with them or any other broker, feel free to share it with us. At least our expert team can advise you on further steps. Trustpilot Review.

How DominionMarkets Platform Reach Clients and Who Are They?

Their main sources of new clients are IB programs. This way they make sure that someone else brings more traders. In exchange for some kind of reward.

Since they don’t have many social networks, we believe they are running also fraudulent marketing campaigns. Mostly about quick money-earning schemes. Don’t register for anything before you double-check everything. In this case, scammed traders mainly come from:

• United States
• Canada
• Pakistan
• United Kingdom
• India

If you find yourself in this group, let us hear about your experience. In the best case, we can assist you with a refund process.

Deposit and Withdrawal Method

Dominion Markets funding methods are another critical topic. They promote 3 choices:

• Debit and Credit cards
• Wire transfers
• Crypto

Thus, Dominion Markets minimum deposit varies depending on the method. Usually, it’s $100, but for crypto transfer, you can start with $50. Consequently, traders fail for the trick and start using cryptos instead of trusted payment gateways. But even if you decide to use cards, the payment goes through a third-party processor. Thus it’s not revealed which one. Highly possible another crypto processor.

According to the company, withdrawal processing time is up to 24 hours. But if you read user-experience reviews you will see a bigger picture. Not only that they are longer than that, but most of the time they never happen.

Reasons To Avoid This Broker

First and foremost because of missing regulations. Secondly, because of misleading trading conditions. In reality, those are much higher. Some of those are even non-existent at first, but you realize once you start trading how much it will cost you.

If that’s not enough then you can check the warning from Russian Central Bank. But also many negative reviews about the broker.

Our Safe Trading experts’ opinion of DominionMarkets broker

Knowing which brokers to trust is key in the trading world. Yes, traders are losing money there, but they are not scammed at least. Trading is an interesting business and has ups and downs. However, with a trusted and Tier 1 regulated broker you can learn a lot and build confidence.

Stop looking for quick money schemes because they don’t work. But if you need the right broker on your side, we can arrange that. Based on your preferences and skills our team can filter you top regulated brokers. Most importantly, free of charge. Book your first consultation already today!

FAQ Section