Abstract:The Dollar, founded in 2001, is an old brokerage registered in India. The trading instruments it provides cover Currencies, Metals, Commodities, Spots, Shares, Indices. It provides 3 accounts, 2 trading platforms for traders. But it is currently unregulated and lacks security.
The DollarReview Summary | |
Found | 2001 |
Registered Country/Region | India |
Regulation | No regulation |
Market Instruments | Currencies, Metals, Commodities, Spots, Shares, Indices |
Demo Account | ❌ |
Leverage | Up to 1:1000 |
Trading Platform | MT4, MT5 |
Account Type | STD, PRO, ECN |
Min Deposit | $100 |
Deposit & Withdrawal | UPI QR, Netbanking, Bank Card, Online Bank Transfer, Offline Bank Transfer, Wire Transfer |
Customer Support | Phone: +918045936050 |
Email: support@thedollar.online |
The Dollar, founded in 2001, is an old brokerage registered in India. The trading instruments it provides cover Currencies, Metals, Commodities, Spots, Shares, Indices. It provides 3 accounts, 2 trading platforms for traders. But it is currently unregulated and lacks security.
Pros | Cons |
Wide range of trading assets (20,000+) | No regulation |
Variety of payment methods available | High minimum deposit amounts for ECN account($5000) |
MT5 available |
It is clear that The Dollar, which was registered in 2023 and is currently unregulated, is new and insecure.
The Dollar offers over 20000 instruments. Traders can trade Currencies, Metals, Commodities, Spots, Shares, Indices.
Tradable Instruments | Supported |
Currencies | ✔ |
Commodities | ✔ |
Indices | ✔ |
Metals | ✔ |
Spots | ✔ |
Shares | ✔ |
Stocks | ❌ |
Cryptocurrencies | ❌ |
Futures | ❌ |
Options | ❌ |
The Dollar offers 3 different types of accounts to traders - STD, PRO, ECN. Three types of accounts all support the leverage of 1:1000 and social trading. STD account's minimum deposit is the lowest - $100, which suits beginner.
Account Type | Minimum Deposit | Leverage | Suitable for |
STD | $100 | Up to 1:1000 | Beginner |
PRO | $1000 | Up to 1:1000 | Traders who looks for zero commissions, tight spreads and instant execution |
ECN | $5000 | Up to 1:1000 | Traders who are looking for raw spreads and instant execution |
The broker provides high leverage - 1:1000. It is worth noting that high leverage means high returns but also high risks.
The Dollar's trading platform is MT4, MT5 and a mobile app, which supports traders on PC and Mobile.
Trading Platform | Supported | Available Devices |
MT5 | ✔ | Web, Mobile |
MT4 | ✔ | Web, Mobile |
A mobile app | ✔ | Mobile |
The broker provides a variety of deposit and withdrawal methods: UPI QR, Netbanking, Bank Card, Online Bank Transfer, and Offline Bank Transfer. The minimum amount is $100.
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According to the Broker, The website (https://mcmarkets.com) is owned and operated by MAGIC COMPASS GLOBAL LIMITED and MAGIC COMPASS LTD. MAGIC COMPASS GLOBAL LIMITED is a registered entity in Seychelles registered at IMAD Complex, Office 12, 3rd Floor, Ile Du PORT, Mahe, Seychelles, Registration Number: 8434985-1