Earning money on the world currency market is a real opportunity to achieve financial independence and become a rich person in a short time. However, trading in assets involves certain risks, and novice traders do not always take this aspect into account. As a result, there is a rapid loss of deposit, and the trader loses confidence in himself, becoming disappointed in forex trading. But successful investors convincingly prove that it is possible to earn good money on the stock exchange. So how to become a successful trader and achieve a stable income and satisfaction from your work on Forex? First of all, your success depends partly on choosing a reliable broker. Working with a proven broker, you can be sure of your success. One of the most trusted brokers is DotBig.
DotBig has earned its reputation through 20 years of experience competing with the most progressive businesses. Today, the number of reviews and discussions about this forex trading company is growing. But what makes this company appealing to a wide audience? We have studied many DotBig reviews and looked at its key services and features. Here's what we managed to find out.
A detailed review of the broker
The status of a financial business is determined by several important factors. When considering a financial business, we always consider the length of its existence and the place of incorporation. This helps to study the history of the company and understand what audience it is aimed at.
Let's start with the first aspect. DotBig trading platform was founded at the end of 2003. We analyzed the number of reviews and articles about the broker written over these 20 years and found no major incidents. Having reviewed the reviews about DotBig on various platforms, we cannot claim that all of them are reliable, but the ratio of positive and negative reviews is impressive, inspiring confidence in the broker.
The second aspect is the place of registration of DotBig forex broker. Here everything is a bit more complicated. On the one hand, the broker provides information about its registration in St. Vincent and the Grenadines. It is also recommended to pay attention to the presence of legal offices in New York, USA, and Stuttgart, Germany. On the other hand, we usually evaluate brokers by their compliance with the rules of FCA, CySEC and other reputable jurisdictions. The broker's investigations did not confirm any major violations by DotBig, which speaks volumes about its reliability.
Safety Check
Online trading is a serious endeavor involving real financial assets. Therefore, financial services companies are required to verify their customers before opening new accounts. This is necessary to prevent money laundering, financial terrorism and other financial crimes. If a broker fails to conduct verification, it may indicate that they are non-transparent and unregulated. DotBig implements a verification procedure, and although clients sometimes complain about the length of time it takes, it shows that the company takes security seriously.
If you are interested in legal information, use the following contacts to contact DotBig representatives:
- Email: contact@dotbig.support.
- Phone: +448000465677.
You will receive all instructions on how to go through the verification procedure. You will be allowed to do this after registering on the company's website. This process takes only a few simple steps:
- Go to dotbig.com.
- Click the "Register" button.
- Familiarize yourself with dotBig's terms and conditions.
- Fill out the registration form.
- Confirm your account.
- Make your first deposit of at least $250.
What about the actual terms and conditions?
Feedback from DotBig users express satisfaction with the variety of financial instruments. This is one of the important factors, as it allows you to diversify your trading strategies and create a more versatile portfolio of investments. Access to all markets is commission-free, and all trading fees are included in the spreads. For example, spreads on currency pairs range from 1.25 to 2.5 pips. It is important to note that spreads on cross pairs may increase after the trading sessions on the major exchanges are over.
Other financial instruments are traded under the following conditions:
- Equities: 232 shares of the world's leading companies have spreads between 0.67 and 14 points.
- Indices: Considered the safest instruments, providing access to more than 10 indices with a spread of 0.25.
- Commodities: Limited choice for commodities trading.
Don't forget about crypto trading as well. Consider becoming a holder of promising crypto-tokens, which are currently significantly undervalued. This could be a great time to get in on the action.
DotBig forex broker also provides contracts for difference (CFDs). But we strongly advise you not to try to use them without sufficient experience, given the statistics that show that approximately 60% of traders lose money when trading CFDs.
It is important to note that the broker offers unmanaged leverage for all instruments.
Pros and cons of the broker
Disadvantages:
- High minimum deposit.
- Limited choice of deposit methods.
- Restrictions on withdrawals.
Advantages:
- Wide choice of trading products.
- Use of the latest instruments.
- Ability to set a stop loss.
- Support for electronic payments and cryptocurrency.
- Global availability.
Final thoughts
Remember that trading is not a game where everything depends on luck. Success comes through hard work until your capital starts generating income. Forex market is a volatile financial environment with huge turnovers and constant changes in quotes. Without analyzing and forecasting it is difficult to achieve success.
For beginners in trading it is recommended to start with a demo account to learn the basics of working in the market, to learn how to enter and exit trades in time, using virtual funds. In addition, money management plays an important role. Effective money management allows you to reduce risks and participate in transactions with a part of your deposit, fixing and generating profits.
It is also necessary to analyze the market beforehand, work with a proven strategy, set stop orders and constantly monitor the market. Finally, special programs offered by DotBig are designed to help traders. Trading strategies, signals, indicators, automated trading robots, system testers and demo accounts are actively used to simplify the process of trading and market analysis. Predicting price behavior, searching for patterns on charts contribute to in-depth analysis, reducing risks and achieving expected profits.