If you have decided to invest or start trading Forex, and you just figured out how the market works and prepared the amount to replenish your account. Moreover, you have decided on the securities you want to own and are ready to purchase them. What goes next? You need an intermediary, which is a broker.
The first crucial point about Forex – if you want to trade currencies, cryptocurrencies, etc. quickly, then you cannot do without a broker! The problem for many traders, including beginners, is to choose the right broker, which will be comfortable to work with.
One of the advantages of DotBig Forex broker is a wide range of trading assets – from currency pairs and stocks to cryptocurrencies and commodities. It allows traders and investors to diversify their portfolios and find new earning opportunities.
But how do you ensure that a trading platform, such as DotBig broker, is suitable for you? Read the reviews!
Forex Broker Functionality and Fees
A broker is a professional participant in the global financial market who, on behalf of a client, makes transactions with securities and enters into contracts, for example, options and futures contracts.
When an investor signs to a brokerage company, the broker does this:
- Launch two accounts: a brokerage account and a depository profile. The first one is used to transfer money. The second one is used to store purchased securities.
- Ensure the provision of depository services. A depository is a market participant who keeps records of transactions with securities and their ownership rights. Thus, the securities of a client are not held by the broker but are stored in a depository, and the broker will be able to legally withdraw assets from there only on behalf of the client.
- Execute the orders of clients for the purchase and sale of assets on the Forex market.
- Withhold taxes on profits and dividends received. The way it works with foreign securities, one can learn separately.
- Compile reports. What securities the broker client bought, what he earned from it, what commission was withheld by the broker — all this can be seen from the report. The broker, such as the DotBig site, records all transactions of the client.
In addition, the brokerage company can provide ready-made ideas to investors, expert analytics, training texts, courses, or videos that will help the investor better navigate the current market situation.
As for the payment for the services of a brokerage firm, it comes as a commission or a spread. After opening and closing a position, the intermediary receives his percentage for the completed transaction, and then it is possible to meet with the spread on the Forex market. Its size is fixed, and it is paid only once. When opening a trade, the scoreboard will immediately show you a negative account, which will mean that your broker will withdraw the spread.
Why are Customer Reviews So Important?
Before choosing a reliable trading platform, it is worth reading reviews about companies from real clients. Why are reviews so crucial?
Customer reviews are an invaluable source of information about the experience of working with a brokerage firm. They may open up nuances that are not always obvious from the official descriptions of the services. When analyzing reviews, it is crucial to consider the following aspects:
- Variety of opinions (positive, negative, neutral);
- Specifics which are in the description of the experience of working with a broker;
- Relevance of the feedback information.
You should look for reviews on specialized forums, social networks, and independent resources dedicated to financial markets. Remember that one review cannot give a complete picture. Thus, it is crucial to study as many opinions as possible.
Advantages of Working with DotBig
Cooperation with the DotBig exchange is beneficial for both novice traders and professionals. The company offers a wide range of benefits that help clients achieve financial goals:
- Access to global markets. You can invest in stocks, currencies, cryptocurrencies, indices, precious metals, energy resources, and commodities using DotBig terminals.
- The financial company does not hide the fees and provides comprehensive information about the service costs.
- The intuitive interface, high-speed query processing, and access via mobile devices make the work comfortable.
DotBig investment activities are regulated by international authorities, which confirms its compliance with strict standards.
Honest Feedback from DotBig Customers
Users of the DotBig trading company note the possibility of testing strategies on a demo account. Also, clients write positive reviews regarding its trading tools and services. Here are some of the freshest DotBig reviews:
Peter, 2024, Helsinki
“DotBig has one of the cleanest and easiest-to-navigate websites. It provides fast customer service and adequate commissions. One of the best features is the round-the-clock chat, which I have often used since I am just starting my investment practice”.
Jack, 2024, Warsaw
“It is an excellent broker. I have been working on this platform for a year now without any problems. Funds arrived without problems, and the commission is quite acceptable. Registration is elementary, and you can get excellent cashback with a deposit. The interface is clear, and it is convenient to work in your account!”
Samuel, 2024, Vienna
“I have been working with DotBig for a little over four months. Fortunately, I could earn more cash than at my previous office job! There were almost no problems in the process, except for minor suspensions of the website. But the reason for this was my unstable home Internet. As it is, everything is fine for now. You can trade Forex and earn decently here.”