In 2022, clients don’t stay in queues in banks to open investment accounts and put their money in shares. Everyone can do this from his or her personal computer or even from a mobile device. What’s more, you get exposure to a wider selection of financial markets and instruments. However, unlike with banks, when trading online, you aren’t always sure that this access is completely secure. So if we recommend you to trade with the DotBig company, we must be sure it protects your funds and data. Do we have any reasons to claim this? Yes, we do. Let’s review the safety features of this broker.
Licensing and legitimacy
Foremost, a safe forex broker shouldn’t hide any legal information that might be necessary for clients when filing potential complaints. DotBig LTD is a legal transparent company that has its main office in St Vincent and the Grenadines. It’s also a legal institution in the US and has its representative office in New York and Stuttgart.
Many complaints toward this broker are caused by a lack of supervision by respectable institutions such as CySEC or FCA. However, this fact doesn’t make it illegal. DotBig has legal permission to provide its financial and intermediary services to clients from the US.
Trading through secure accounts
You store your trading funds and assets on the accounts opened with the DotBig forex broker. How can you know that your money cannot be withdrawn from your personal account without your permission?
It’s simple – DotBig simply doesn’t have access to it. When you register an account and fund it, all the money is transferred to segregated accounts of a European bank. Funds of clients and their assets cannot be used for the operational needs of the broker or any other institution. This is the core part of the money-laundering policy of the broker.
In DotBig testimonials, clients write that they love commission-free deposits. And that’s a really positive feature because it allows you to accumulate money. But what’s more important, is the selection of payment services, through which money can be deposited.
DotBig LTD offers safe systems for funding your account. You may use such reputable credit and debit card providers as VISA or MasterCard. Or, you can use bank wire transfers. Note, that they might come with higher extra fees. Even electronic payment solutions and cryptocurrency wallets are available.
The minimum deposit required by the DotBig forex broker depends on a chosen plan. Basic is the cheapest plan that can be activated after depositing $250 to your account. It doesn’t offer any special perks or bonuses – just free educational materials and a wide selection of tradable instruments. Although the deposit is minimum, the assets aren’t limited.
The other account plans are the following:
- Standard. This one starts from depositing $2,500. But here you can use some perks for making a bigger deposit. For instance, participate in PRO events and gain a lot of valuable experience in online trading. Also, enjoy working with a personal manager and super-advanced tools.
- Silver. This upgrade comes after you deposit at least $10,000. Such a payment seems reasonable for the personal trading strategy, developed for you and other cool bonuses.
- Platinum. This one is for real professionals and institutional traders who know how to benefit from a 10% swap return. Deposit not less than $25,000 deposit.
- PAMM account.
- Islamic account. This is a special option for Islamic traders who need special conditions to trade in accordance with their laws.
Withdrawing your earnings
The majority of brokers process deposits almost instantly, but not all of them can guarantee the same fast withdrawal from trading accounts. Can DotBig do this? On the website and in some DotBig testimonials, we see that yes. But in reality, this is not always possible because of the peculiarities of different payment methods. For example, Bitcoin transactions work much faster than bank wire transfers.
Speed is not a problem in many cases, clients take care of the efficiency of the operations. From the DotBig testimonials, we see that traders don’t have complaints about the amounts they receive and the safety of the process in general.
What they complain about is the limitation for a minimum withdrawal set at $50. Some say that this is inconvenient for them because they often need to get small amounts as fast as possible. Other DotBig testimonials also complain about high withdrawal commission, but this factor is determined mainly by payment systems.
In this dotbig.com review, we didn’t mention trading conditions and the efficiency of tools. We find this problem isn’t relevant currently, that’s why we paid attention to the safety aspect. We conclude that the DotBig forex broker is safe. If we needed to estimate its safety in stars, we would put 4 out of 5. But still, we recommend you to make your own research before signing up for any trading platform. Good luck!
Suman(Kul Prasad) Pandit is a graduate from Tribhuvan University with four-year experience in corporate and start-up sectors in UK and USA. Being a responsible & sustainable business enthusiast he is dedicated to business education to solve problems in entrepreneurship and business growth.