Domino Forex is a trade name of Domino Forex Limited. It holds an investment services license issued by the Malta Financial Services Authority (MFSA) on 17th May 2013. As a regulated financial company, Domino Forex Ltd. is obliged to meet ESMA’s requirements. Client funds are held in segregated bank accounts that are fully protected for up to €100,000 in the event of a default by the Depositor Compensation Scheme.
Trading assets include currency pairs (8 major pairs and over 120 minor and exotic ones), 2 precious metals, 4 energy products, 7 agriculture commodities and 7 indices.
There are three types of accounts that differ mainly in the initial deposit and offered spread. The Standard account requires USD50 to open and the spread for the EUR/USD pair is about 2.4 pips. The company recommends this account to beginners. You must invest at least USD10,000 to open a VIP account and the spread for the EUR/USD pair will be about 1.8 pips. Domino Forex recommends this account for veteran investors. The PRO account requires at least USD20,000 to open and the spread for the EUR/USD pair is about 1.2 pips. All accounts can be funded by bank transfer and Union Pay.
Investors are protected from negative account balances. If your account balance becomes negative due to a sudden market movement, Domino Forex will not require any additional payment.
Customers can trade via the world’s most popular forex trading terminal – MetaTrader 4 (MT4). In addition to its simple and customizable interface and advanced graphics, MT4 has an outstanding programming environment. Traders can automate their strategies using robots called expert advisors (EAs) that are used for various applications such as placing and modifying orders. EAs are available in a large library and most are free. If you prefer, you can write your own EAs using the MQL4 programming language. There are various integrated technical indicators. You can save your customized workspace that can be loaded later. The terminal is available as a desktop version and as a mobile application as well.
Unfortunately, there is no legal section on the website, and we cannot check what type of brokerage the company really is. In general, this is a CySEC-regulated company that offers the popular MetaTrader 4 platform for trading. However, trading conditions are not competitive – spreads are wide, even when you invest USD25,000.