THE DOLLAR

The Dollar is a brokerage entity operating under the domain thedollar.in. According to our verified records, the firm was registered in India on November 17, 2023, and lists its registered address as 2JXC+RFG, Embassy Business Park, Bengaluru, India - 560045. Despite its relatively recent establishment, the broker claims a history dating back to 2001 on its own website, but this statement conflicts with its official registration date.

The broker presents itself as a multi-asset trading provider, offering access to currencies, metals, commodities, spots, shares, and indices. It provides three distinct account types—ECN, STD, and PRO—each with varying minimum deposit requirements and leverage up to 1:1000. However, the broker's website also makes unverified claims of regulation by authorities such as ESCA, ASIC, CySEC, and FSC, which our records do not confirm.

The Dollar's official incorporation in India is recent, with a registration date of November 17, 2023. This contrasts sharply with the narrative on its website, which states it was established in California, USA, in 2005 and has a paid-up capital of over $322 million. Our records do not support this founding story, and no evidence of a US entity under this name has been found.

The broker lists a Bengaluru address as its registered office. The discrepancy between the claimed US origin and the Indian registration raises questions about the broker's transparency. Traders should be aware that the firm's actual operational timeline is significantly shorter than what is advertised.

Our records indicate that The Dollar holds no regulatory licences from any recognized financial authority. The broker's website claims regulation by multiple global regulators, including ESCA (UAE), ASIC (Australia), CySEC (Cyprus), and FSC (Mauritius), but these claims could not be verified through official registries. In FXCanary's assessment, the absence of verifiable regulation is a critical red flag.

Unregulated brokers operate without the oversight of a financial watchdog, meaning client funds are not protected by compensation schemes or segregation requirements common to regulated entities. For traders, this lack of regulatory oversight introduces significant counterparty risk, as there is no independent recourse in the event of disputes or broker insolvency.

The Dollar offers three account tiers: ECN, STD, and PRO. The ECN account requires a minimum deposit of $5,000 and is aimed at experienced traders who benefit from direct market access and potentially tighter spreads. The STD account starts with a $100 minimum deposit, making it accessible to retail traders, while the PRO account sits in the middle with a $1,000 minimum deposit. All accounts offer a maximum leverage of 1:1000.

The availability of high leverage is a double-edged sword: it can amplify profits but also magnifies losses. The broker's website also mentions platforms MT4 and MT5 for the Standard account, but details on the other accounts are sparse. Given the lack of independent reviews, the actual trading conditions remain unverified.

Our records do not provide specific details on trading instruments, spreads, or commissions beyond the account types. The broker's website lists currencies, metals, commodities, spots, shares, and indices as available instruments, but we have not confirmed the full range. The ECN account is described as having 'stable spreads' and 'instant execution' on the website, though these claims cannot be cross-checked without user feedback.

The leverage of 1:1000 is notably high, even by industry standards. Such leverage can lead to rapid account depletion if risk management is not strict. Additionally, the broker's website mentions 'negative balance protection', but again, this is a self-reported claim with no regulatory verification.

The Dollar offers a variety of payment options, including UPI QR, Netbanking, and other methods, with a minimum deposit of $100 per transaction. The website processes withdrawals 24/7 and claims fast processing times. However, the lack of regulatory oversight means that withdrawal requests are subject entirely to the broker's internal policies, and there is no external ombudsman to resolve disputes.

Our records do not include independent data on withdrawal speed or client satisfaction. Traders should approach any deposit with caution, as unregulated brokers have been known to impose arbitrary fees or delays. The broker states it offers 'hassle-free withdrawals', but such claims should be treated as marketing until verified.

The Dollar receives a Scam Risk Score of 49/100 from FXCanary, categorized as 'Guarded'. This score reflects the broker's unregulated status, its recent registration, and the stark contradictions between its claims and our verified facts. The lack of independent user reviews further limits our ability to evaluate its operational integrity.

Traders considering The Dollar should be aware that they are dealing with a high-risk counterparty. Without regulatory protection, deposits are at risk, and the broker's true ownership and financial health remain opaque. We recommend that only traders fully aware of the risks and willing to accept them proceed, and even then, only with capital they can afford to lose.