Today, many people are interested in ways of making big incomes online. Many of them are aware of online trading, but they hesitate whether it’s relevant for them to open a personal account with any broker. Many reasons are very serious. First of all, beginning traders don’t want to be scammed. They realize that many trading platforms won’t provide them with the possibility to make deals, but will just steal their deposits. That’s why they avoid trading.
One more popular reason to refuse to start Forex trading is lack of knowledge. Both these statements are quite reasonable because they correspond to reality. However, there is an option. New traders can read our dotbig.com review to figure out whether this option suits them. In DotBig testimonials, many users write that they are glad that they entered Forex with the help of DotBig ltd. Well, in this short article, we’ve tried to figure out if that’s true. Here is our first impression of the DotBig company.
We consider trading conditions to be one of the most important characteristics of the broker. This feature might determine how successful your performance will be. Trading conditions are determined by the available markets and spread numbers for the listed assets. Here is what the DotBig forex broker offers to its clients.
Markets and assets
- Forex. DotBig LTD is a successful forex broker that offers its clients to make money from deals with 72 currency pairs. This is not an excessive number of assets, but this amount is completely enough to enter trading if you are a complete beginner. Majors are traded with the 1:400 fixed leverage and the average floating spread of 1.2 pips.
- Stocks. Many brokers offer only stock CFDs, but DotBig also introduces 244 real stocks of companies. Stock trading suits beginners. Besides, on DotBig, it comes with a very low commission spread, falling as low as 0.6 pips, and high leverage – 1:10.
- Indices and commodities. In the commodities category, there are only 6 financial instruments placed. Commodities come with low leverage 1:1000, and the spread that is higher than the broker’s average – 2.2 pips. Not to mention that the company offers a lower spread than the industry average.
The number of indices amounts to 13 assets. The broker offers national stock indices from around the globe such as S&P, Dow Jones, NASDAQ, and some others.
- Cryptocurrencies. One more popular avenue among modern beginning traders is crypto trading. Surprisingly, the broker allows making deals with more than 600 cryptocurrencies and crypto-related products. The spread is floating, but the average number varies from 1.5 to 1.7 pips.
One more cool feature to mention here is the DotBig card. The broker allows buying cryptocurrencies and storing them on this card to be later used for online purchases. This service makes this platform very customer friendly.
- CFDs. The broker has a wide selection of contracts for differences from different markets, including Stock, Index, Commodity, ETF, and others. You should understand that CFDs are complex instruments. CFD trading requires deep analytical skills and experience. On average, more than 50% of traders lose money when trading CFDs.
Is it safe or not?
This is a necessary question to be curious about when choosing a forex broker for further trading activity. Don’t trust scammers that offer appealing bonuses for nothing. Keep in mind that trading is often competition and no one will gift you with profits by default.
DotBig tries to be as transparent to its clients as possible. On its official website, it represents all the necessary documents, the place of registration, and the contacts for its customer support services in different regions.
One more reason we consider DotBig a safe option for trading is the implementation of segregated accounts. If clients’ funds are stored on such accounts, neither scammers nor the broker will be able to withdraw them. Segregated accounts guarantee the complete security of clients’ money.
One more aspect to highlight its legitimacy is the fact that the broker has endured global economic crises. The company was founded in 2003 and since then it hasn’t been involved in any of the money laundering scandals. This fact contributes a lot to the public reputation of the brand.
Finally, we would like to rely on DotBig testimonials. The experiences and opinions of real people should always play a role for you when you choose a platform for trading. Such stories might reveal pitfalls that aren’t visible at the first sight. While there are such examples when users complain about the provider, the majority of DotBig testimonials are positive. We see no ground not to trust those traders who have tried working with this broker before us.
Our verdict is that the broker suits newbies. However, if we put scores, we wouldn’t estimate it as a 5-star broker. 4.5 stars would be enough because of the lack of information about regulation.