It’s always a complicated task to start something new. Forex trading isn’t an exception. However, you can make everything go smoothly if you find the right broker to start with. We have analyzed key features of the DotBig forex broker to figure out whether this provider can be a good choice for beginners.
Legitimacy
Although DotBig Ltd is an international company, it doesn’t have any official licenses from the reputable regulatory bodies of the Forex market. The broker has an offshore registration in Suite 305, Griffith Corporate Center, Kingstown, St Vincent, and the Grenadines under the number 26 350 BC 2021.
The absence of official licensing sparks concerns in many traders and they do write about this in their DotBig testimonials. Nevertheless, the broker has a big base of active clients who access Forex, stock, crypto, and other exchange markets.
If you have some questions about the DotBig forex broker, you should get in touch with the managers. Here are the contacts of the company:
- E-mail hello@dotbig.support
- phone numbers:
- +448000465523
- +18003142855
- +972809399855
Review of a personal account
Before you start your online trading activity through the intermediary of DotBig ltd, get familiar with the client agreement of the company and make sure that all the conditions are clear and acceptable. Then, you can proceed to the website and fill out the special registration form where you must enter your name, surname, contact information. At this stage, you won’t be required to present your ID documents but they will be requested during the verification process.
When everything is completed, you can use the functional features of your personal account to:
- get access to any of the available platforms;
- manage trading accounts;
- manage a portfolio of investments and assets;
- execute deposits and withdrawals via available payment services.
According to dotbig.com reviews, the basic functional features of the personal account and the number of assets are the same for all types of accounts, including Basic, Standard, Silver, and Platinum.
Trading instruments
DotBig is a multi-asset broker. Here you can trade such assets as currency pairs, shares of international companies, cryptocurrencies, commodities, indices, CFDs, and ETFs. DotBig is one of the best European brokerage organizations for stock trading. The number of CFDs and shares reaches the 239 mark.
Both beginners and professional traders in their DotBig testimonials say that the DotBig Web platform suits different types of trading. This terminal displays a variety of analysis tools, which are necessary for classic and automated trading. You can also use the mobile app that provides tools of the same quality and productivity, although their number is limited there.
DotBig is also known as a provider of top-quality social trading services. This is the best way for complete newbies to make a passive income. They just copy deals of successful traders and get their dividends.
Clients may use the services of the robots. These are special programs developed to quickly analyze the market and its updates in order to provide accurate signals. As clients who write DotBig testimonials say, DotBig trading signals are 90% accurate. They are available for free even for traders who use the mobile app.
Deposits and Withdrawals
- credit/debit cards;
- bank transfers;
- cryptocurrency:
- BTC
- ETH
- USDT
- LTC
- Alternative means:
- Transferwise
- PayPal
- Qiwi
- Webmoney
- YooMoney
DotBig charges commission for withdrawals for users of Basic accounts. This commission is 3.5%. Plus, the broker doesn’t allow you to withdraw less than $50.
Pros and Cons
Pros:
- access to many financial markets;
- advanced educational and training materials;
- floating spread varying between 1 and 2 pips
- 1:400 leverage;
- effective trading signals;
- positive DotBig testimonials;
- negative balance protection.
Cons:
- no binary options to trade;
- slippage during nighttime trading;
- limits for withdrawals;
- offshore registration.
Final word
If you are a beginner in Forex, DotBig forex broker will give you access to quality educational materials and training programs. You will also be able to keep in touch with a personal manager who will be ready to answer the most urgent questions 24/7. The trading platform has a simple and understandable interface but doesn’t limit clients in terms of using advanced analysis tools.
