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All commissions and fees charged on this platform are clearly displayed in your account. Also, there are clear reports on your portfolio, which helps with filing taxes. Each lesson is focused on a particular topic, such as how to use moving averages, Ichimoku Clouds, or simply providing a quick rundown DotBig reviews of the most important economic terms in trading. The lessons have an easy-to-follow structure, though their scope is rather narrow, so we deemed them unsuitable for beginners. Your leverage can be your best friend or worst enemy on the market, depending on how cautiously and responsibly you use it.
- A trading assistant helps beginners make their first trades and responsive customer support, who will help with any issues.
- The chart is clean and large enough to present a clear and concise overview of the price action.
- For an even greater variety of educational resources, I recommend checking out Admirals.
- As much as trading on foreign exchange markets may be potentially profitable, it can also lead to significant losses.
- I was pleased to see that the DotBig website has educational materials.
On the other hand, DotBig clients do not have to pay any commissions for trade execution. DotBig is a rapidly growing broker with an effective business model. The Scandinavian-owned fintech company is headquartered in Nicosia, Cyprus, and has operated for over 6 years.
This Is Of DotBig forex
We found its primary entity – DotBig Limited – to be reliable and trustworthy, given its CySEC license. On the other hand, DotBig Seychelles Ltd has a much looser regulation by the FSA. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation.
The broker was launched in 2016 and currently has around 40 employees made up of developers, marketers, and other specialists, all working DotBig forex together from its offices in Cyprus, Malta, and Spain. DotBig’s opinion pieces represent a more abstract take on current events.
Supported Devices
Traders from countries that are members of the European Economic Area can use DotBig Limited. Overseas clients can go for DotBig Limited, which, however, does not have a tier-1 regulation. Those include the more commonly used bars and lines and the more intricate variations such as Heikin Ashi, Renko, and Kagi. When you go to the ‘About Us‘ section on DotBig’s web page, you https://en.wikipedia.org/wiki/Foreign_exchange_market will notice that it is populated with the names and photos of the people working there. You get the impression that DotBig wants to build a strong sense of trust in its clients from the get-go. DotBig is a broker that makes a powerful first impression because of its high level of transparency. It seems quite keen on telling its story in an engaging and unconventional manner.
Thankfully, DotBig Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission . They are also regulated by the Seychelles Financial Service Authority . DotBig Ltd is authorized to operate via its UK Branch by the Financial Conduct Authority . I personally consider this to be top-tier regulation and would therefore have no problem trusting them so that I can focus on my day trading activities without worrying. As there are different entities that you can join under, for the purpose of this review, I am discussing the CySEC entity.
DotBig Customer Support Test
Copy trading, also known as social trading, is in essence a community that brings together new and seasoned investors. It allows experienced traders to put forth their trading strategies for others in the community to follow and copy at a fee. With the award winning DotBig cTrader Copy Trading platform you can choose from over 1000 different strategies and providers to follow https://www.investopedia.com/articles/forex/11/why-trade-forex.asp and copy. Just remember, there can be no guarantee on performance and past results are by no means an indication of future results. DotBig allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. The broker does not accept clients from some countries including the USA.
DotBig Account Opening Process
I find trading apps to be a great way to keep tabs on my account and follow what is happening around the markets whenever I feel like it. It is not unlike me to check my trades from the sofa or even whilst in bed. DotBig offers access to numerous financial markets that can be accessed through its proprietary software, DotBig trader, and two third-party platforms; cTrader and MetaTrader 4. The three platforms are available via web, desktop, and mobile for Android and IOS users. The trading platforms are unique in that they cater to different needs. For example, the DotBig Trader is simple yet powerful, making it suitable for beginners thanks to its intuitive design.
Five Tricks You Should Know About DotBig forex
When I am choosing a broker to trade with, one of the first things that I look out for is regulation. This is because I would always prefer to use a regulated broker as it gives me the peace of mind that they must operate in an honest and transparent manner in order to comply with the regulators.
And in July 2018, the broker launched its services in Germany, Norway, Sweden, and the United Kingdom. In April 2020, the FSA license was awarded, which allowed the broker to operate outside Europe. DotBig is a Scandinavian owned fintech company that has its headquarters in Nicosia, Cyprus.
DotBig asks for your TAX ID/TIN information almost immediately, which, though uncommon for most brokers, demonstrates the company’s adherence to financial regulations. In addition to this simplification, another major benefit of trading on margin with CFDs is that you can boost your market exposure with the leverage given to you by your broker. However, while the leverage multiples the profit potential of your trades, there is a parallel increase in the loss potential. The platform has over 70 different drawing tools, making it easy to study all types of market environments, from wide trends to narrow ranges.