The Traders Domain Review

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The Trader’s Domain is a forex brokerage company located in St. Vincent & the Grenadines. The company describes themselves as being built by traders, for traders, with a focus on providing a convenient experience and mentions that their objective is to become a leading brokerage company, but smart traders know that is much easier said than done. Does this broker have what it takes to meet their goal, or will they fall short? Stay with us to find out.To get more news about the traders domain review, you can visit wikifx.com official website.

This broker offers Standard and ECN account types, although everyone seems to be granted with a Standard account upon registration, so you may need to reach out to support if you’d prefer an ECN account. Also, note that Islamic accounts are available for the ECN account type only. Both account types come with the same minimum deposit requirement and leverage options. Below, you can view the differences in the account types.

Upon opening an account, one will need to provide ID and address verification documents. Accounts are approved once enough documents have been provided to achieve 100 points. Address documents count as 70 points per document, while proof of identity documents count as 70 points per document.
Platform
Those that decide to trade through this broker will have the advantage of choosing between the MetaTrader 4 and MetaTrader 5 platforms. Many other brokers feature either one platform or the other, with the award-winning MT4 being the most commonly offered option, due to is highly customizable, user-friendly interface, along with a number of pre-installed indicators and tools that are also included. Developers of MT5 kept most of its predecessor’s strong suits and added in more pending order types, analytical objects, and more.
Both platforms are excellent options, so it really comes down to one’s own personal preference when it comes to choosing which to trade through. Accessibility is also no issue on either platform since both can be downloaded on a desktop, Android, and iOS. You can also access the platforms on the WebTrader, which is the browser-based version. The WebTrader would be the best option for Mac users.

Leverage
The Trader’s Domain allows traders to trade with up a volume of up to 500 times their trading capital. This provides an opportunity to maximize profit, regardless of how limited one’s actual capital is. However, one should note that trading with high leverages goes hand in hand with taking higher risks, so one should not simply choose the highest leverage offered. It is advantageous for brokers to offer options that are so much higher than the industry average because it provides lower-level traders with room for growth if they make it big in the forex world.
Trade Sizes
The Trader’s Domain allows a minimum trade size of 0.01 lots, otherwise known as one micro lot. Trading a micro lot allows for smaller positions that what would be allowed with a mini or standard lot. Support informed us that the maximum trade size usually depends on how much your margin can handle. Margin call and stop-loss levels are set at 50%.

Trading Costs
Many brokers charge fees through spreads, commissions, and rollover interest. With this broker, those charges differ based on account type. On the Standard account, spreads are from 1 pip and there are zero commission charges. Meanwhile, the ECN account offers spreads from 0 pips, with a commission fee of $3.50 per 100k traded.

Assets
The Trader’s Domain offers 100 plus tradable instruments, including CFDs, precious metals, and some cryptocurrencies. Sadly, the website does not offer a list of products, nor does it go into any further detail. A Product Disclosure Statement can be obtained on request from their offices and the website suggests that this should be considered before one decides to enter into a transaction with the broker. We would recommend reaching out to support to request the PDS.

Spreads
The ECN account type offers the most attractive spreads, advertised as starting from 0.0 pips. The Standard account advertises spreads as starting from 1 pip. Keep in mind that the industry average would fall somewhere around 1.5 pips, so both are presented as being well below average and are therefore competitive. However, The Trader’s Domain does not list their products on their website with actual spreads, so it is difficult to investigate whether these options are truly as low as advertised.