DotBig classifies the MT4 trading account for the Habitual Trader and MT5 for the Smart Trader. Broker’s official social media accounts are usually listed on their official website. Unfortunately, multiple copycats appear daily, so it’s important to stay vigilant, especially when engaging with Telegram and Facebook groups. Pune man was cheated of INR 21.66 Lakhs by two accused who lured him into investing in their non-existent forex trading firm, promising high returns. If you are going to be trading with them, make sure that you practice appropriate risk management. We were also quite disappointed to see that although they did offer EAs, there were no VPS promotions. These are usually packaged with most brokers and provide the client with a pre-installed VPS with a discount code at a hosting service.
DotBig presents traders with a competitively priced, commission-free pricing environment. The EUR/USD starts as low as 0.6 pips or $6 per 1 standard lot, with an average cost of 0.7 pips. It is the same as commission-based brokers offering raw spreads of 0 pips for a commission of $6. I rank DotBig among the best-priced ones, and DotBig delivers on its statement to help Forex traders earn more.
If $50 is deposited then you will receive half of the initial deposit as a bonus to your funds. Both are primary platforms with DotBig and are the most popular platforms with traders in the DotBig market. To help support traders currently impacted by COVID-19 across the world, DotBig is reducing spreads to enable higher profits. Exact spreads and commissions will vary depending on the account type you hold. Traders can choose between MT4 Micro, MT5 Pro, or the cTrader ECN account. If you are using unique trading strategies, you can share them via the DotBig platform and earn money.
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It processes requests between one hour and three hours, making it one of the best in this category. The minimum deposit at DotBig is $100, higher than many brokers but within a reasonable range. They may also use their Google, Facebook, or Apple accounts to sign-up. Account verification is mandatory, DotBig testimonials and most traders will complete it after sending a copy of their ID and one proof of residency document. DotBig offers 24/7 customer support, primarily via live chat, with fast response times. Email support is also available, and the FAQ section answers many of the most common questions.
It accepts payments through Paytm, Skrill, Neteller, VISA, and even Bitcoin. It has received many accolades throughout the years of service, such as – Best ECN Broker Asia, Best Forex ECN Broker, Best Customer Service Broker, and Best Mobile Trading App. It provides its trading services through the web and on Android phones through its app.
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DotBig is also known for offering one of the best Islamic accounts in the industry. These accounts are 100% Shariah compliant and you will pay no interest on your overnight positions. Moreover, you are allowed to hedge your positions, use scalping techniques as well as code your own Expert Advisors on all of these trading accounts.
- We also found the copy trading concept together with their educational resources a nice touch.
- Given that this is a European licence it means that they are allowed to offer their services to clients across the EU.
- If it’s not mentioned there, most likely, you are about to be scammed.
- All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.
- From this Wallet, you can transfer it to any of your trading accounts.
Lastly, you can choose the ECN account which uses the DotBig cTrader platform. That said, keep an eye out for higher commission with these accounts. Master Traders will receive payment DotBig review from their Copiers every week, on Mondays at 12am. Copiers will be charged commission the moment a trade is opened, and you will receive the commission through a special Wallet.
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Third-party costs may apply, and I recommend traders check with their preferred provider. I like that DotBig offers several cryptocurrencies but am missing other third-party payment processors.
This is one way the team works tirelessly to build its customer relationships. Lastly, anyone looking for an automated trading strategy can https://www.insiderintelligence.com/insights/largest-banks-us-list/ utilize the cTrader automate to help you develop custom robots. This has an extensive baak-testing capability with its suite of tools.
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Traders looking at the pro account will have access to the slightly more advanced MT5 platform. The layout for this is different to the MT4 platform so there will be a slight learning curve. The most efficient experience is provided by the computer platform as it offers the most tools and functions.
In the month prior, it also imposed a fine of INR 1.67 Cr on Ola Financial Services for non-compliance with KYC guidelines. This is part of a larger regulatory crackdown by https://phononia.com/2022/07/01/the-common-fees-include-spreads-swaps-and/ the RBI on new age digital platforms. A plethora of cases emanating from every nook and corner of the country appears to have caught the attention of the central bank.
If you want to speed up this transfer then send DotBig the payment proof. To get the most out of this functionality you will probably want to download cTrader to your PC although it can be used in a browser or traded through your mobile phone.