Archives: Brokers

Is Dominion Markets Scam or Legit Broker?

No, Dominion Markets cannot be considered a trustworthy broker due to its lack of serious regulation. Dominion Markets LLC is a limited liability company incorporated and registered under the laws of Comoros Union, with company number HY00723020. However, the regulatory oversight and protection offered by the jurisdiction are limited.

• Dominion Markets, like many other offshore or unregulated brokers, presents quite attractive offers and trading conditions. However, it lacks proper regulatory oversight, making investments with it potentially risky. To steer clear of financial scams and avoid unpleasant surprises, it is always advisable to choose a regulated broker with top-tier regulations and a strong reputation in the market.

What is Dominion Markets?

Dominion Markets is an internet-based ECN Forex broker. The broker was founded by a team of professional traders in 2020. It boasts of its favorable offerings, such as low spreads, flexible leverage, low forex commissions, segregated clients' accounts, etc. 

Upon further research, we assess the reliability and trustworthiness of the broker by analyzing it from various critical aspects. Here is what we discovered:

• Lack of regulation: This is one of the critical aspects of Forex trading. The lack of proper regulation is a red flag that traders need to take seriously. Licenses from top-tier and respected authorities provide an essential guarantee that your investments are secure, and trading won't result in significant financial losses. In the case of unregulated or offshore brokers, such guarantees are absent. Regarding Dominion Markets, the broker does not hold a substantial license. Instead, it is incorporated and registered under the laws of the Comoros Union, with company number HY00723020.
• Withdrawal issues: Withdrawal issues are quite common for unregulated or offshore brokers. This is serious, as withdrawal problems mean the inability to withdraw your investments and profits. The broker seems to have issues in this respect, which means to be very cautious while signing with the broker. 
• Traders' feedback: Considering feedback from real traders is essential. Clients share their own experiences with different brokers, enabling others to avoid the same mistakes. In fact, many traders have issued warnings about Dominion Markets, sharing their negative experiences with the broker, particularly regarding aspects such as withdrawals and customer support.

Overall Dominion Markets Ranking

After conducting extensive research, we have uncovered substantial concerns regarding the reliability of Dominion Markets and its compliance with regulatory standards. Therefore, we are unable to provide a favorable ranking for Dominion Markets.

• Dominion Markets Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

Dominion Markets Alternative Brokers

Considering the concerns surrounding Dominion Markets' reliability and security, we highly recommend traders to explore alternative options that provide more stringent regulations and enhanced trading conditions. Below is a list of reputable brokers offering trustworthy choices and a secure trading environment for your consideration:

• Eightcap– Competitive Trading Conditions
• FXGT– Low Pricing
• CMC Markets – Wide Range of Trading Instruments

Deposits and Withdrawals

With Dominion Markets crypto is the main option for deposits. It offers a wide range of crypto options such as BTC, ETH, LTC, DASH, BCH, XMR, NEO, XRP, and ADA. Also, clients can deposit funds using a credit or debit card through a third-party payment processor. The minimum deposit in Crypto is $50. The minimum deposit for other payment methods is $100.

• There is a  same-day Crypto withdrawal for all clients. The withdrawal request will be fulfilled within 24 hours of submission, and the funds will then be sent directly to the client's Crypto wallet. 
• The minimum amount for withdrawals is $50. It is possible to cancel a withdrawal request while it is still pending, by contacting the broker's Support Team.
• We strongly recommend exercising extra caution, as many clients share their negative experiences regarding the withdrawal process with Dominion Markets. 

Account Types

Dominion Markets offers several account types: ECN, Standard STP, ECN Plus, and Islamic. Each account offers different features and conditions that will suit traders with different trading expectations.

• ECN account is designed for professional traders, with tight spreads and deep liquidity.
• On the other hand, Standard STP account is suitable for beginner traders, who are looking for simple and direct market access with no commissions. 

Dominion Markets Review Conclusion

Based on the information we have compiled regarding Dominion Markets, there are notable concerns regarding the broker's reliability and trustworthiness. While the broker offers attractive features and services, its registration in an offshore jurisdiction is a significant ground for concerns. Besides, there are many negative reviews from clients that shouldn't be overlooked.

This is why we recommend choosing a reliable broker that holds licenses from reputable authorities like FCA, ASIC, or CySEC. There are many regulated brokers that are both reliable and have exceptional offerings. Some of them are but not limited to BlackBull Markets, HFM, and Eightcap.

• Overall ranking and experience for Dominion Markets is Negative

Is Aron Groups Scam or Legit Broker?

No, Aron Groups cannot be considered a trustworthy broker due to its absence of a top-tier license from a prominent regulatory body. The firm operates under Aron Markets LTD and is registered in the Marshall Islands. However, the jurisdiction does not provide a high level of regulatory oversight and protection.

• Brokers operating under the Marshall Islands often offer favorable trading conditions; yet, they lack strict regulatory oversight and protection. This is the reason why brokers under this jurisdiction often turn out to be involved in financial frauds or scams. Only top-tier regulatory authorities, such as ASIC, CySEC, and FCA, provide a high level of protection and stringent guidelines to follow.

What is Aron Groups?

Aron Group presents a diverse range of trading assets and instruments, including over 100 forex currency pairs, CFDs, precious metals like gold and silver, commodities such as oil, indices, stocks, BTC, and various other cryptocurrencies. The broker also gives access to trading strategies such as Copy and Social trading. 

 With flexible spreads, substantial leverage of up to 1:1000, and a minimum deposit requirement of just $1 Aron Groups seems like a good broker for investment. However, upon closer research, we were able to reveal certain issues that should be considered:

• Lack of serious registration: Aron Groups is registered in the Republic of the Marshall Islands, under license number 118046. It is a well-established fact that the Marshall Islands, being an offshore jurisdiction, lacks adequate oversight and regulatory guidelines. Consequently, Aron Groups and other brokers registered in this jurisdiction (1PrimeOptions is another offshore broker with a license from the Marshall Islands)  may not be the optimal choice for financial investments. 
• Negative Reviews: When choosing a broker for investments, traders are always recommended to consider feedback and reviews from other traders. Reviews on Aron Trade are not always positive. Nevertheless, the broker is relatively new and it is understandable that it does not have a great amount of feedback yet. 
• Withdrawal issues:  One of the main issues traders warn is problems with the withdrawal process. There are reported cases when clients were unable to withdraw their investments and profits. 
• Summing up the negative points, we strongly recommend traders engage only with reliable and fully licensed brokers, with good standing in the market and favorable features.

Overall Aron Groups Ranking

After thorough research, we revealed significant concerns regarding Aron Groups reliability and its adherence to regulatory norms. Consequently, we cannot assign a favorable ranking to Aron Groups.

• Aron Groups Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

Aron Groups Alternative Brokers

Based on the concerns regarding Aron Groups reliability and security, we strongly advise traders to explore alternative options that offer stricter regulations and improved trading conditions. Below, is a list of reputable brokers that offer trustworthy choices and a secure trading environment for consideration:

• EXT – Competitive Trading Conditions
• AximTrade – Low Pricing
• CMC Markets – Wide Range of Trading Instruments

Deposits and Withdrawals

Aron Groups offers a variety of funding methods, including Bank transfers, Mastercard, PerfectMoney, WebMoney, TopChange, Payeer, PayPal, etc. Traders can make deposits via  Tether, Bitcoin, ETH, Bitcoin cash, LiteCoin, Ripple, Dogecoin, Zcash, Dash, Binance USD, USD coin, DAI, PAX, TrueUSD, and more.

• With the broker, the minimum deposit varies based on the funding method. For instance, for bank transfers, the minimum deposit is $100, whereas, for cryptocurrencies, it starts from $10. 
• Withdrawal amounts for different methods are different, too. Withdrawal through bank transfer is allowed from 100 to 2,000 U.S Dollars.
• Remember that a seamless withdrawal process is an important part of forex trading. Offshore brokers are often not very reliable in this respect. 

Account Types

Aron Groups offers different trading accounts that meet different trading needs: Nano ( Islamic Account ), Standard (ECN), Swap Free (ECN), and Vip (ECN). Each account type is tailored for special trading expectations.

• Nano accounts are for clients with low budgets. The minimum deposit for Nano accounts is $1.
• Standard and Swap accounts are more suitable for professional traders, offering leverage of 1:500, tight spreads, and deposits starting from $50.
• The VIP (ECN) account is well-suited for traders who plan to hold their positions longer. It offers a low-margin call level and the potential for higher profitability.

Aron Groups Review Conclusion

Considering the information we have gathered regarding Aron Groups, there are significant reservations about the broker's reliability and trustworthiness. Although the broker has quite attractive features and offerings, its registration in an offshore jurisdiction (The Marshall Islands) raises substantial doubts. Signing with an offshore broker might risk traders' investments and profits.

This is the reason why we recommend signing with a trustworthy broker that holds licenses from reputable authorities such as FCA, ASIC, or CySEC. Some of the great options clients can consider while choosing a broker are but are not limited to BlackBull Markets, HFM, and Eightcap.

• Overall ranking and experience for Aron Groups is Negative

Is 1PrimeOptions Scam or Legit Broker?

No, 1PrimeOptions is not a safe broker as it lacks a reputable license from a leading regulatory authority. The company conducts its operations under Global Options LTD and is registered in the Marshall Islands, a jurisdiction often associated with questionable practices.

Is TNFX Scam or Legit Broker?

No, TNFX is not a reliable choice, mostly due to the lack of proper licenses. The broker lacks top-tier licenses that ensure the financial safety and security of a trader's investments. Instead, TNFX is only authorized and regulated by the Financial Services Authority (FSA) in Seychelles, known offshore zone. 

• While engaging in Forex trading it is essential to understand that safety is one of the most important aspects. Neglecting its significance could result in making precarious decisions. Opting for top-tier licenses like FCA, CySEC, and ASIC is highly advisable, as they come with stringent regulations and robust oversight, effectively minimizing various forms of risk. On the contrary, offshore regulatory authorities like the Financial Services Authority, often lack to provide adequate guidelines and oversight. 
• Read more about offshore Brokers here

What is TNFX?

Founded in 2019, TNFX claiims to be an ECN firm that offers access to trading various financial instruments such as currencies, stock indices, stocks, and commodities in the form of CFDs. The broker provides access to trade over 50 currency pairs, offering leverage of up to 1:400. In terms of software, they offer the market-popular MetaTrader trading platforms, which include support for Trading Central charts and AutoChartist. TNFX also offers very low spreads, starting from 0 pips. 

To learn more about the broker we conducted deeper research and revealed important facts about it to be considered:

• The first thing while analyzing a broker, we look into its licenses and registration. In fact, TNFX is authorized and regulated by the Seychelles Financial Services Authority (FSA) under license number SD133. The registered address is CT House, Office 9A, Providence, Mahe, Seychelles. Seychelles is recognized as an offshore jurisdiction, and it lacks stringent regulations that would guarantee the safety of traders' investments. For added safety, we consistently recommend opting for a broker that is thoroughly regulated. FCA, ASIC, and CySEC-regulated brokers give this sense of security and safe grounds to conduct profitable trades. Find out what makes a great Forex Broker. 
• TNFX has some really interesting offerings and features that attract traders, such as very low spreads, high leverage opportunities, a large assortment of trading accounts, and client-oriented platforms. This led us to go through the real trader reviews and check for clients' feedback. We revealed that most of the reviews are on the negative side, complaining of the insufficient withdrawal process, and other issues. Therefore, our recommendation is to exercise greater caution and not to be easily attracted by favorable offerings. 
• Deposits and withdrawals are one of the most important aspects of trading. TNFX provides a variety of choices for funding accounts and withdrawing profits. However, it's worth noting that there have been numerous reviews, particularly regarding withdrawal issues. We strongly advise traders to be aware and consider the possible risks in case of engaging with the broker.

Overall TNFX Ranking

With our decade of experience in the Forex trading industry, our research has unearthed substantial concerns regarding TNFX's reliability and its compliance with regulatory standards. Consequently, we are unable to provide a favorable rating for TNFX.

• TNFX Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

TNFX Alternative Brokers

In light of safety concerns related to TNFX, we strongly recommend exploring alternative options that prioritize strict regulations and enhanced trading conditions. Below is a list of reputable brokers that provide great trading features and a secure trading environment for your consideration:

• OANDA– Good Market Instruments 
• Plus500– Low Spreads and Competitive Trading Conditions
• Pepperstone– The best selection of Educational Resources

Deposits and Withdrawals

TNFX offers a variety of funding methods, including Bank transfers, Mastercard, PerfectMoney, Webmoney, Payeer, and many other options. Besides, it does not charge any fees for depositing or withdrawing funds.

• For deposits and withdrawals, the estimated timeframe is 24 hours.
• All withdrawals and deposits are made in US dollars. To withdraw money clients need to submit a Withdrawal form. 
• Yet, we always recommend being very careful when it comes to withdrawals, as offshore brokers often have a track record of falling short in this regard.

Account Types

Opening a live account with TNFX is a quick and straightforward process. The broker offers multiple account types: Standard, Fix Account, VIP account, Zero Account, and Cent Account. Each of the account types has its unique features, offering clients different opportunities based on their trading expectations. Also, different account types come with different benefits, as for the Standard Account contains a 20% deposit bonus, and also a $100 birthday bonus. 

• All the account types enable access to Automated trading. 
• For Cent accounts the minimum deposit is $100, while for Zero accounts it is $ 1,000.

TNFX Review Conclusion

Based on the information we have gathered regarding TNFX, significant questions arise concerning the broker's trustworthiness and credibility. Although it offers quite enticing features and services, the fact that Broker is registered only in Seychelles - an offshore jurisdiction, raises substantial doubts.

We urge traders to give serious consideration to selecting a broker that holds licenses from esteemed regulatory bodies such as FCA, ASIC, or CySEC. A multitude of regulated brokers, such as  FP Markets, eToro, and Admiral Markets, excel in providing outstanding services and favorable trading conditions, all while adhering to top-tier regulations, thereby guaranteeing a secure trading environment. 

• Overall ranking and experience for TNFX is Negative