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DomiFX -

Score

1.57 /10
Danger

DomiFX

Cyprus

5-10 years

Suspicious Regulatory License

High potential risk

http://www.domifx.com

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Score

Regulatory Index0.00

Business Index7.49

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 14824) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

DomiFX · Company summary

General Information & Regulation

DomiFX is a broker offering forex and spot metals trading with a focus on the Chinese market and “social trading”, a website offering social trading solutions similar to ZuluTrade (an online social and replication trading platform that allows traders to replicate the investment strategies of “experts” in the forex market). DomiFX is currently regulated by the Vanuatu Financial Services Commission, however, this license is suspected to be a clone one.

Market Instruments

DomiFX offers investors access to the most popular currency pairs in the financial markets, spot metals, indices, CFDs, stocks, and commodities.

Minimum Deposit

DomiFX offers two types of trading accounts: Standard (minimum deposit of $25) and VIP (minimum deposit of $5,000). Although it should be obvious that no serious trading can be done with $25, this measure is applied in order to attract a bigger number of clients.

DomiFX Leverage

Leverage at DomiFX is capped at 1:100. This is basically the standard, or some will say even conservative level, when it comes to forex trading.

Spreads & Commissions

The spreads on the DomiFX website start at 1 pip for standard accounts and 0.5 pips for VIP accounts, but after testing the demo account, we learned that the spreads for EURUSD start at 2 pips, which is clearly higher than the industry standard.

Trading Platform

DomiFX offers traders the market-leading and highly popular MT4 trading platform, which is currently the most popular forex trading platform in the world and is highly respected by many technical traders, with top-notch MT4 charting tools, the ability to create multiple custom technical indicators, and an automated trading system (Expert Advisor).

Deposit & Withdrawal

DomiFX only supports China UnionPay, as DomiFX is focused on the Chinese market and does not accept clients from the Eurozone, USA, Japan, British Columbia, and Iran.

DomiFX Pros & cons

Domifx advantages Include：

1. Availability of MT4 trading platform

2. Two types of trading accounts available

3. Low minimum deposit requirement

Domifx disadvantages include：

1. Offshore regulation by VFSC

2. High spreads, different from spreads shown on the official website

3. Not accept many clients from e.g. Eurozone, USA, Japan

4. Only one way of deposit & withdrawal only

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MR.Lee
more than one year
I was extremely disappointed with my experience with DomiFX. The company used false trading signals to deceive customers into investing more money, and I was unfortunately one of their victims. I ended up losing a lot of money due to their deceptive practices. The worst part was that when I tried to reach out to their customer service for assistance, I was met with nothing but unhelpful and rude representatives who refused to take responsibility for their actions.
I was extremely disappointed with my experience with DomiFX. The company used false trading signals to deceive customers into investing more money, and I was unfortunately one of their victims. I ended up losing a lot of money due to their deceptive practices. The worst part was that when I tried to reach out to their customer service for assistance, I was met with nothing but unhelpful and rude representatives who refused to take responsibility for their actions.
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2023-03-20 18:08
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Sara.
more than one year
DomiFX is nothing but pure fraud, stay away from them if you don't want to throw your money in the hands of scammers. Everything about them is a lie. This should be a ZERO Star rating.
DomiFX is nothing but pure fraud, stay away from them if you don't want to throw your money in the hands of scammers. Everything about them is a lie. This should be a ZERO Star rating.
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2023-03-06 17:55
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