DPS- Some Detailed Information about This Broker

GENERAL INFORMATION AND REGULATION

DPS Global Markets is an Australian forex and CFD broker that offers two account types. The Standard account is commission-free and has no minimum initial deposit requirement, but the spreads are slightly high. The ECN account, on the other hand, requires a significant investment, but offers raw spreads.

Although DPS Global Markets‘ trading conditions might seem good, we don’t reccomend doing business with this broker, as we suspect it is a clone firm. Read on to get all the details.

The most obvious disadvantage of DPS Global Markets is that it it seems to use the name of a wealth management company that is not related to this broker. While the brokers website mentions nothing about regulation, those who check the name in the ASIC register will probably come accross this and believe that DPS Global Markets is indeed regulated by the Australian Securities and Investments Commission (ASIC).

MARKET INSTRUMENT

DPS Global Markets offers trading in around 30 currency pairs and several CFDs. Its CFD portfolio is rather limited – there are no CFDs on stocks, nor ctryptocurrencies.

ACCOUNT AND LEVERAGE

DPS Global Markets offers high leverage ratios, reaching 1:400. This is a nice option, yet trading on margin involves risk of losses, exceeding the initial investments. That is why we advise our readers to be very careful when using leverage levels that high.

Another thing we like about Global Markets is that it has not set a minimum initial investment requirement. This means that you can open an account by depositing small amount of money.

TRADE SIZE

DPS has a minimum trade size of 0.01 lots.

SPREADS AND COMMISSIONS

The spreads offered by this broker is around 1.6 pips.

TRADING PLATFORM AVAILABLE

DPS Global Markets uses the most popular forex trading platform, Metatrader 4 (MT4). The MT4 offers superior charting and wide range of professional trading tools and features, such as technical analysis indicators, automated strategies (Expert Advisors), and more. Additionally, through the MQL Marketplace one could get a lot of newly developed technical indicators or automated trading systems.

DEPOSIT AND WITHDRAWAL

No reviews were discussed or obtained as for the available payment methods offered by this broker.