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DORMAN TRADING

United States|5-10 years|
Suspicious Overrun|High potential risk|

https://www.dormantrading.com/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

United States 4.50

Surpassed 35.89% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+1 800-552-7007
https://www.dormantrading.com/
141 W. Jackson Blvd., Suite 1900 Chicago, IL 60604
https://www.linkedin.com/company/626166

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+1 800-552-7007

Broker Information

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Company Name

Dorman Trading, LLC

Company Abbreviation

DORMAN TRADING

Platform registered country and region

United States

Company website
Linkedin

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Warning: Low score, please stay away! 3
Previous Detection : 2024-05-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0264358) claimed by this broker is suspected to be clone. Please be aware of the risk!

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DORMAN TRADING · Company Summary

DORMAN TRADING Review Summary
Founded 1956
Registered Country/Region United States
Regulation NFA (Suspicious Clone)
Products & Services Clearing and allocation services, prompt document delivery, managed futures, full service brokerage and online trading
Demo Account Available
Trading Platforms Dorman Direct, ATAS, Barchart Trader, Collective2, CQG Desktop, CQG Integrated Client, eSignal, iBroker, iSystems, MTPredictor, and Overcharts
Minimum Deposit N/A
Customer Support Phone, fax and online messaging

What is DORMAN TRADING?

Dorman Trading, a stalwart in the world of Futures Commission Merchants (FCMs) since its inception in 1956 by Bernard Dorman, a seasoned grain trader at the Chicago Board of Trade. With a legacy built on the bedrock of personalized service, Dorman Trading stands as one of the oldest, family-operated FCMs in the United States. Dorman Trading remains committed to empowering traders with a comprehensive suite of trading tools and resources. However, recent revelations have cast doubt on the legitimacy of its claimed affiliation with NFA.

DORMAN TRADING's homepage

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros Cons
Established Reputation NFA Affiliation Concerns
Comprehensive Trading Tools
Safeguarding Measures
Educational Resources

Pros:

- Established Reputation: Dorman Trading boasts a long-standing history since 1956, indicating stability and reliability in the industry. Its founders roots in the Chicago Board of Trade add to its credibility.

- Comprehensive Trading Tools: The brokerage provides a wide range of trading platforms and tools, catering to diverse trading styles and preferences. This variety allows traders to choose the platform that best suits their needs.

- Safeguarding Measures: Dorman Trading emphasizes the importance of safeguarding client interests through robust AML protocols and maintaining accounts with major banks. This commitment to security may provide peace of mind for clients.

- Educational Resources: The availability of educational resources, including articles, tutorials, and webinars, demonstrates Dorman Tradings dedication to empowering traders with knowledge and skills to succeed in the markets.

Cons:

- NFA Affiliation Concerns: Recent suspicions surrounding the legitimacy of Dorman Trading‘s affiliation with the NFA raise significant concerns about the broker’s regulatory compliance and trustworthiness.

Is DORMAN TRADING Legit or a Scam?

Dorman Trading asserts that it provides safeguarding measures for its clients, such as implementing robust Anti Money Laundering (AML) Protocols and maintaining accounts with major banks. These measures are intended to enhance security and transparency within the trading environment, ensuring compliance with regulatory standards and protecting clients' funds.

However, it has come to light that the United States National Futures Association (NFA) (License Type: Common Financial Service License with license number: 0264358) , which Dorman Trading claims affiliation with, is under suspicion of being a clone or fraudulent entity. This raises significant concerns regarding the legitimacy and trustworthiness of the broker.

suspicious clone NFA license

In light of these concerns, traders are advised to prioritize safety and security when selecting a brokerage firm, verifying regulatory licenses, conducting background checks, and considering reputable sources of information to make informed decisions.

Products & Services

Dorman Trading offers a comprehensive range of products and services tailored to the needs of futures traders:

- Clearing and Allocation Services: Dorman Trading provides clearing services, ensuring smooth and efficient processing of trades for its clients. Additionally, it offers allocation services.

- Prompt Document Delivery: Dorman Trading prioritizes timely document delivery, ensuring that traders receive all necessary documentation promptly and efficiently. This includes account statements, trade confirmations, and other important documents related to trading activities.

- Managed Futures: Recognizing the significance of managed futures as an asset class, Dorman Trading offers access to managed futures programs. Managed futures can potentially enhance portfolio returns and lower overall volatility by providing exposure to a diversified range of trading strategies managed by professional investment managers.

- Full Service Brokerage: Dorman Trading provides full-service brokerage capabilities, offering personalized support and guidance to traders throughout their trading journey. This includes assistance with account setup, trade execution, risk management, and access to a team of experienced brokers who can provide market insights and trade recommendations.

- Online Trading: Dorman Trading offers robust online trading platforms, empowering traders to execute trades conveniently from anywhere with internet access. These platforms provide advanced trading tools, real-time market data, and customizable interfaces to suit individual trading preferences.

managed futures

How to Open an Account?

To open an account with DORMAN TRADING, please follow these steps:

Step 1: Register Provide required information to create a profile, including choosing a username and password.
Step 2: Application Complete the application form, providing personal and financial information.
Step 3: Documentation & Agreements Submit required documentation, such as identification documents, and review approved agreements.
Step 4: Finish Finalize the account opening process, review any approved agreements, and proceed to fund the account.
fill in required info

Trading Platforms

Dorman Trading offers a diverse selection of trading platforms tailored to accommodate various trading styles and preferences.

Among these platforms is Dorman Direct, which serves as a foundation for traders seeking direct access to markets with robust functionalities. It provides a reliable interface for executing trades efficiently and accessing real-time market data, catering to both individual and professional traders alike.

In addition to Dorman Direct, Dorman Trading extends its platform offerings to encompass a wide range of leading platforms utilized by high-frequency, institutional, and professional traders. These platforms include ATAS, Barchart Trader, Collective2, CQG Desktop, CQG Integrated Client, eSignal, iBroker, iSystems, MTPredictor, and Overcharts.

On the official website, there are details introduction of each platformrs.

For example, Overcharts stands out as a particularly notable platform, recognized for its speed, intuitiveness, and powerful analytical capabilities. Professional traders rely on Overcharts to analyze markets comprehensively and execute trades seamlessly, leveraging its advanced features such as one-click trading from charts and DOM, multiple concurrent real-time data feeds, and sophisticated volume and order-flow analysis tools. Clients can visit the website or directly click: https://www.dormantrading.com/trading-platforms/ to learn about the functions of each platform.

Trading Platforms

Tools & Education

Dorman Trading offers a suite of trading tools designed to assist traders in making informed decisions and executing trades effectively.

Among these tools are Quotes and Charts, which provide real-time market data and visual representations of price movements, allowing traders to analyze trends and patterns.

Additionally, Dorman Trading provides access to Margin information, helping traders understand the leverage available for different asset classes and their associated risks.

The Market Calendar feature provides traders with important dates and events impacting the financial markets, such as economic indicators releases, earnings reports, and central bank meetings.

The Exchange Corner feature offers insights and updates specific to different exchanges, including contract specifications, trading hours, and any regulatory changes.

Furthermore, Dorman Trading prioritizes trader education through its Education section, which offers a range of resources, including articles, tutorials, and webinars covering various aspects of trading, from basic concepts to advanced strategies.

Lastly, the Announcements feature keeps traders updated on important news and developments relevant to their trading activities, such as system updates, policy changes, and market alerts.

quotes and charts

Deposits & Withdrawals

Dorman Trading provides a variety of acceptable methods for funding your trading accounts, ensuring flexibility and convenience for clients.

One option is bank wire transfers, which are considered cleared funds, allowing immediate access to trading. Clients can initiate bank wire transfers in US Dollars, Euro Currency, or Australian Dollars, enabling seamless transactions across different currencies.

Additionally, checks are accepted as a funding method, including personal checks, savings and loan checks, and checks drawn on money market or credit union accounts. However, funds from checks require clearance before trading can commence. Cashier's checks or certified checks are also accepted, with prior discussion with an account representative for further instructions. All checks should be made payable to Dorman Trading, LLC.

For more efficient fund transfers, Dorman Trading offers internal and external funds transfer options. Internal funds transfer allows clients to move funds between accounts within Dorman Trading, facilitating swift transactions. External funds transfer enables clients to transfer funds from investment or brokerage accounts of other firms to Dorman Trading, with funds from brokerage accounts considered cleared for immediate trading.

Deposits & Withdrawals

Customer Service

Customers can visit their office or get in touch with customer service line using the information provided below:

Telephone: 1-800-552-7007

Fax: 312-341-7898

Address: 141 W. Jackson Blvd., Suite 1900, Chicago, IL 60604

DORMAN TRADING offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.

contact form

Conclusion

In conclusion, Dorman Trading presents itself as a brokerage with a long-established reputation, comprehensive trading tools, and a commitment to safeguarding client interests. However, recent suspicions surrounding its affiliation with the NFA, and regulatory uncertainty. Traders should weigh the pros and cons carefully and consider alternative options to ensure the safety and security of their investments.

Frequently Asked Questions (FAQs)

Question 1: Is DORMAN TRADING regulated by any financial authority?
Answer 1: No. Their NFA license is a suspicious clone.
Question 2: How can I contact the customer support team at DORMAN TRADING?
Answer 2: You can contact via telephone: 1-800-552-7007, fax: 312-341-7898 and online messaging.
Question 3: Does DORMAN TRADING offer demo accounts?
Answer 3: Yes.
Question 4: What platform does DORMAN TRADING offer?
Answer 4: It offers Dorman Direct, ATAS, Barchart Trader, Collective2, CQG Desktop, CQG Integrated Client, eSignal, iBroker, iSystems, MTPredictor, and Overcharts.
Question 5: What services and products DORMAN TRADING provides?
Answer 5: It provides clearing and allocation services, prompt document delivery, managed futures, full service brokerage and online trading.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

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Nghĩ Nguyễn
more than one year
Good. I noticed that there are no problems with the trading platform and that there is always real news from the market, so I don't need to use any other resources to find information to make decisions about the market.
2023-02-28 18:01
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八戒63930
more than one year
The NFA regulation claimed by this company DORMAN TRADING seems to be a clone....actually im not planning to trade futures right now, so i won't trade with it either...
2022-12-09 10:30
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