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24Domino Review - is it scam or safe?

24Domino Review - is 24domino.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz 24Domino
24Domino is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage Spread
Standard  N/A N/A N/A

 

 

24Domino is allegedly a financial services provider registered in Vanuatu. They use a web based trading interface, but have not disclosed any trading conditions whatsoever. This review will attempt to shade some light on the broker's service.

 

 

24Domino Advantages

 

Although we always strive to list both advantages and disadvantages of any broker we review, we couldn’t find any potential benefits of this one.

 

 

24Domino Disadvantages

 

Registered offshore (allegedly)


  

 Click to zoom in.


24Domino says to be a trading name of LIQUIDITY FX BROKER LTD., a company licensed by the Vanuatu Financial Services Commission (VFSC). While the firm is indeed present in VFSC’s list of “Dealers in securities”, we have to highlight that this commission has rather lax requirements and basically does not exercise any oversight on “licensed” brokers, as is usually the case with offshore jurisdictions like Vanuatu. 

 

So, clients of offshore brokers like 24Domino have no guarantee that their interests are protected and that their funds are safe and segregated from those of the company. Besides, our experience shows that many of those brokers registered on sunny overseas islands are in fact engaged in fraudulent practices.

 

Possibly a clone firm

That said, we have another concern regarding 24Domino. In fact, LIQUIDITY FX BROKER LTD. has two more brokerage brands - Pure Market Broker and Real Market Broker. The offering of these two brokers differs significantly from what is available on 24Domino’s website – they support the good old MetaTrader4 platform, duly branded, and have made clear most of the trading conditions. This inclines us to suspect that might be a clone firm – one that purposely uses the details of a regulated company with which it isn’t not associated in any way.

 

Zero clarity on trading conditions

Another clear-cut sign of trouble regarding 24Domino is the lack of any relevant information on its trading conditions. The broker’s website lacks essential details such as the minimum investment required, the maximum leverage ratios, trading costs, transfer fees, etc. The webpage doesn’t feature information on the trading platform either, and it’s even unclear whether it offers trading in binary options or forex / CFDs.

 

Decent brokers always provide a clear indication of the typical spreads, as well as information on the other key trading specifics. Scammers on the other hand would not share much essential information about their operation and offer, and the reasons for this are pretty obvious.

 

 

>> Spreads of top brokers compared in real time <<

 

 

Awful trading interface

Fortunately, 24Domino offers some demo service which is more like a binary options trading simulation. Basically, users are offered trading in some currency pairs, several indices and commodities with time intervals from 5 to 60 minutes.

 

Click to zoom in.

 

Honestly, this doesn’t seem like a trading platform at all. That said, most traders prefer trading on the industry standard MetaTrader4 (MT4). This fully-featured software is known for its ease of use, large number of options, top-notch charting and technical analysis tools. This stable and reliable platform offers API connectivity, multiple types of orders, as well as Expert Advisors for automated trading.

 

 

>> Check out the best MT4 brokers <<

 

 

Conclusion

 

It appears clear from the above that 24Domino one of the numerous scammers on the financial markets. It isn’t regulated by a credible governmental agency, if any at all, and hasn’t made clear its offer.

 

As usual, we advise investors to avoid any such suspicious intermediaries, and deal only with brokers licensed by prestigious governmental agencies, such as the CySEC in Cyprus or ASIC in Australia, for example. These authorities require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 


>> Find the best brokers in Cyprus <<

 

 

Here are the highlights of the present review of 24Domino:

 

Pros Cons
None Registered offshore
  Possibly a clone firm
  Zero clarity on trading conditions
  Awful trading interface

 

Latest news about 24Domino
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Traders` reviews for 24Domino

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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