Dinosaur Forex Broker
Basic Information
United Kingdom
15-20 years Regulated in United Kingdom Institution Forex License (STP) Suspicious Scope of Business High potential riskCompany profile
Rating Index
Pros
FCA regulated, providing a level of oversight and legal compliance.
Many years of industry experience, indicating stability and reliability.
Diverse financial services offered, catering to a wide range of clients and needs.
Cons
Limited information available on trading conditions, which may affect transparency.
Some reviews indicate a suspicious scope of business, raising concerns about trustworthiness.
High potential risk associated with their operations, as noted by various risk alerts.
Dinosaur Forex Broker - Complete Information Guide
1. Broker Overview
Dinosaur Broker, officially known as Dinosaur Brokers, was established in 2001 and is headquartered at 33 Whitehall Street, New York, NY 10004, United States. This trading platform operates as a private entity and primarily serves clients in the forex and CFD markets globally. Over the years, Dinosaur Broker has aimed to provide a range of trading services to its clients, though it has faced challenges regarding its regulatory status.
The company has been in operation for over two decades, marking significant milestones in its development, including the expansion of its trading services and the diversification of its product offerings. However, it is crucial to note that Dinosaur Broker is currently unregulated, which raises concerns about its operational legitimacy and investor protection.
Dinosaur Broker's business model focuses on providing access to various financial instruments, including forex, commodities, indices, and contracts for difference (CFDs). Despite its long-standing presence in the market, the lack of proper regulation and oversight has led to warnings from financial advisory services regarding the risks associated with trading on this platform.
2. Regulatory and Compliance Information
Dinosaur Broker operates without any formal regulation, which is a significant red flag for potential investors. The broker does not hold licenses from major regulatory bodies such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or the Commodity Futures Trading Commission (CFTC). The absence of regulatory oversight means that there are no regulatory numbers or valid licenses associated with Dinosaur Broker.
Due to its unregulated status, the broker does not provide adequate client fund protection measures, such as segregated accounts or participation in investor compensation schemes. Furthermore, the broker's Know Your Customer (KYC) and Anti-Money Laundering (AML) practices are not clearly defined, which could expose clients to potential risks of fraud and mismanagement.
Clients should be aware that trading with an unregulated broker like Dinosaur Broker carries inherent risks, including the lack of recourse in case of disputes or financial losses.
3. Trading Products and Services
Dinosaur Broker offers a diverse range of trading products, which include:
- Forex Trading: The broker provides access to a variety of currency pairs, though the exact number of pairs available is not specified in the sources.
- Contract for Difference (CFD): Clients can trade CFDs on various underlying assets, including commodities and indices.
- Commodities: The broker allows trading in several commodities, although specific details on the types offered are lacking.
- Indices: Access to major global indices is provided, although precise offerings are not detailed.
Dinosaur Broker frequently updates its product offerings, although the specifics on frequency and new additions are not clearly stated. The broker caters primarily to retail clients, but there is no mention of institutional services or white-label solutions.
4. Trading Platform and Technology
Dinosaur Broker does not support popular trading platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are commonly used in the forex industry. Instead, the broker may offer its proprietary trading platform, though detailed information about its features and functionalities is not provided.
The broker's web-based trading platform is designed for ease of use, but specifics regarding its capabilities, such as charting tools and technical indicators, are not mentioned. Additionally, there is no indication of a mobile application for iOS or Android devices.
Dinosaur Broker's execution model is not explicitly defined, leaving potential clients uncertain about whether it operates on an ECN, STP, or market-making basis. The broker's server locations and technological infrastructure details are also not disclosed, which are critical factors for ensuring reliable trading experiences.
5. Account Types and Trading Conditions
Dinosaur Broker offers a standard account type, but specific conditions such as minimum deposit requirements, spreads, and commissions are not clearly outlined in the available information.
While advanced account types, such as VIP or professional accounts, are not mentioned, it is suggested that the broker may provide a demo account for practice trading. The leverage offered by Dinosaur Broker is unspecified, which is a crucial aspect for traders to consider.
The minimum trade size and overnight fees are also not detailed, leaving potential clients without vital information needed to evaluate the trading conditions adequately.
6. Fund Management
Dinosaur Broker supports various deposit methods, including bank transfers, credit cards, and electronic wallets, although specific details about the payment methods are not provided. The minimum deposit requirement varies by account type but is not explicitly stated.
Deposit processing times and any associated fees are also not mentioned, which could impact clients' decisions regarding fund management. Withdrawal methods and restrictions are not clearly defined, and the processing times for withdrawals remain unspecified. Additionally, the fee structure for withdrawals is absent from the available information.
7. Customer Support and Educational Resources
Dinosaur Broker provides customer support through multiple channels, including phone, email, and online chat, although specific contact details are not provided. The service hours and time zone coverage are also not mentioned, which could affect clients in different regions.
The broker appears to offer support in multiple languages, but the specific languages are not listed. Educational resources, such as webinars, tutorials, and eBooks, are not detailed, which may limit clients' ability to enhance their trading knowledge.
Market analysis services, including daily analysis, news, and research reports, are not explicitly mentioned, leaving potential clients without insights into market trends. Additionally, trading tools like calculators, calendars, and signal services are not specified.
8. Regional Coverage and Restrictions
Dinosaur Broker primarily serves clients in the United States and potentially other global markets, although specific regions are not detailed. The broker's office distribution is not provided, which could affect client access to support and services.
Certain countries may be restricted from opening accounts with Dinosaur Broker, but the specific countries and any special limitations are not mentioned in the available information.
In conclusion, while Dinosaur Broker offers various trading services and products, the lack of regulation and transparency raises significant concerns for potential investors. Clients are advised to exercise caution and conduct thorough research before engaging with this broker.