DominantIndex is a Contract for Difference (CFD) broker, with its domain dominantindex.com registered on April 21, 2024. The platform claims to offer investors CFD trading services across a variety of financial markets, including forex, cryptocurrencies, indices, commodities, and stocks.
Corporate Services
Account Opening
Investors can open an account through the official DominantIndex website by following these steps:
- Visit dominantindex.com and click the "Register" button at the top right of the page to go to the registration page.
- Fill out the registration form with your name, email, address, phone number, and login password. Submit the form to create an account.
- After creating an account, users must complete a full KYC verification to engage in trading activities.
Trading Accounts
DominantIndex offers a demo trading account and three types of real trading accounts: Classic Account, Optimum Account, and Pro Account. Each of these accounts is available in both personal and corporate versions. Details for personal accounts are as follows:
Classic Account
- Minimum deposit of $100
- Spreads starting from 0.5 pips
- Minimum trade size: 0.01 lot
- No trading commission
- Rebate of up to $2 per side per standard lot (nominal amount of $100,000)
- Leverage: Forex, Metals – up to 1:200
- Margin level for hedged/locked positions: 50%
- Execution mode: NDD (No Dealing Desk), Market Execution
- Margin Call / Stop-out level: 25%/15%
- Forex CFDs: 36 currency pairs
- Additional CFDs: Indices, precious metals and energy, cryptocurrencies
- Try the demo account
Optimum Account
- Minimum deposit of $100
- Spreads starting from 1.5 pips
- Minimum trade size: 0.01 lot
- No trading commission
- Rebate of up to $2 per side per standard lot (nominal amount of $100,000)
- Leverage: Forex, Metals – up to 1:1000
- Margin level for hedged/locked positions: 50%
- Execution mode: NDD (No Dealing Desk), Market Execution
- Margin Call / Stop-out level: 25%/15%
- Forex CFDs: 36 currency pairs
- Additional CFDs: Indices, precious metals and energy, cryptocurrencies
- Try the demo account
Pro Account
- Minimum deposit: $100
- Spreads starting from 0 pip
- Standard commission: For each standard lot ($100,000), the commission per side is $3.5. For high-volume traders, the commission lowers to $1.5 per side.
- Minimum trade size: 0.01 lot
- Leverage: Forex, Metals – up to 1:200;
- Margin level for hedged/locked positions: 50%
- Execution mode: NDD (No Dealing Desk), Market Execution
- Margin Call / Stop-out ratio: 25/15
- Forex CFDs: 36 currency pairs
- Additional CFDs: Indices, precious metals and energy, cryptocurrencies, stocks
- Allows the use of any EA (Expert Advisor)
- Try the demo account
Trading Platform
DominantIndex claims to support MT4 and MT5 platforms; however, users can only log in to its proprietary web trading platform via the broker's official website. The website does not provide download links for MT4 or MT5, and the broker cannot be found on the MT4/MT5 trading platforms.
Deposit and Withdrawal Methods
The platform only supports cryptocurrency deposits and withdrawals, including Bitcoin, Litecoin, Ethereum, Tether, and Binance Coin.
Social Media and Contact Information
DominantIndex does not have accounts on social platforms like Facebook, Instagram, or Twitter. The broker provides only email as a means of contact.
Company Background and Regulation
Company Background
The DominantIndex website indicates that it is an international business company, the entity being DominantIndex Limited, headquartered at 19 Sun St, London EC2A 2FJ, UK.
Additionally, the broker claims on its "Data Protection" page to be regulated by the Belize Financial Services Commission (FSC), but its website does not disclose specific company registration information or associated regulatory licenses.
Regulation Verification
Upon verification, neither the Belize Financial Services Commission (FSC) nor the Financial Conduct Authority (FCA) in the UK lists DominantIndex Limited as a registered broker.
Conclusion
Traderknows advises investors that DominantIndex is neither a legally registered corporate entity nor under any valid regulation. Investors should carefully consider choosing trading platforms that are legally regulated and provide transparent information to avoid financial losses and reduce investment risks.
