DomusFX is a Forex broker with “first class benefits”, promising no commission on transactions (except indices), low spreads, 24/7 customer support, fast execution, instant withdrawals and generous leverage of up to 1:500.
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Advertised spreads on the DomusFX broker’s website is 0.06 pips but their account types are listing spreads for EURUSD as 1.30 pips.
Available instruments for trading include Forex, CFDs, Commodities, Indices, Stocks and Futures.
DomusFX offers 3 account types with minimum deposits starting at $250, $1,500 or $10,000.
Provided this broker is well regulated and has a reputation, you can always use our recommended trading software or Forex signals to make money.
Is DomusFX legit?
While the services of DomusFX Ltd seem to be attractive, including the addition of MT4 trading software, funds of their clients are not safe.
The broker is operating from Marshall Island which is an offshore jurisdiction with weak regulatory framework which is as good as non existent.
The broker is likely to scam you because they don’t have any accountability towards your funds.
You can safely invest with brokers that are well regulated.
So far, this broker falls short of our expectations in terms of regulatory requirements and transparency.
Conclusion
Enough has been said about how risky it is to put your money in an unregulated broker’s bank account.
We just don’t trust them based on what we’ve seen them doing to their traders.
So avoid scam brokers or those that beat around the bush when asked to produce their regulatory documents.
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