THE DOLLAR Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-04 13:53

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
Customer Support	Email: support@thedollar.online

The Dollar Information

　　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 and Cons

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

Is The Dollar Legit?

　　It is clear that The Dollar, which was registered in 2023 and is currently unregulated, is new and insecure.

What Can I Trade on The Dollar?

　　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	❌

Account Types

　　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

Leverage

　　The broker provides high leverage - 1:1000. It is worth noting that high leverage means high returns but also high risks.

Trading Platform

　　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

Deposit and Withdrawal

　　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.