2022 Dotbig Review • Online Broker Pros, Cons + More
Dotbig is an online financial services broker that focuses on providing active investors with the opportunity to trade a wide range of assets. The platform was designed with day traders, professional traders and investors who make regular exchanges in mind and aims to provide a one-stop shop for quick access to multiple markets. As a trader who uses a Dotbig broker account for day-to-day investing, you have access to the following assets and securities.
- Currencies: Dotbig currently supports forex trading between 72 unique global currencies.
- Stocks: Dotbig supports stock trading on 244 individual share types. Most of the tradable shares you’ll find on the platform are issued by mega-cap corporations, including names like Netflix, Google, Spotify and Apple.
- Indexes and ETFs: Dotbig currently provides access to 13 major index funds and 20 ETFs. These assets can help add a layer of diversification to your portfolio by strategically bundling groups of stocks together during a single transaction.
- Commodities: You can currently trade futures on six major commodities through Dotbig. Commodities on the platform are traded using contracts for difference (CFDs).
- Cryptocurrencies: Dotbig offers wide access to the cryptocurrency market, with more than 650 supported coins and tokens on a single platform, offering significantly more exposure than most competing brokers that usually limit available projects to around 100 coins and tokens. This feature can make Dotbig an appealing option for active crypto investors.
- Venture investments: Select corporate investors can access venture investment options through Dotbig. This feature is not available to all users on the platform.
Alongside your Dotbig investments, you can also access leverage to enhance your trading. The amount of leverage that you’ll have access to will vary depending on the asset you’re trading and your account type. Currently available leverage maximums are as follows.
- Forex: 1:400
- Index funds and commodities: 1:100
- Cryptocurrencies, stocks and exchange-traded funds (ETFs): 1:10
Specialized cryptocurrency accounts are also available with up to 1:200 leverage. While this level of leverage can help experienced cryptocurrency investors multiply their profits, it can also be dangerous for beginners.
Dotbig also offers a range of tools that you can use to enhance your trading and better analyze the market to develop your trading strategy or execute a current strategy more effectively. You can follow the rate of popular assets in real-time through Dotbig’s platform and keep your finger on the pulse of economic events that are likely to cause market movements. Dotbig’s algorithmic news analysis analyzes and collects data points from a wide variety of news sites across the web while simultaneously leveraging each site’s credibility. The result is a highly curated news feed that helps you be the first to know when major market news breaks without spending hours searching through the day’s top stories.
Overall, Dotbig provides an impressive home base for investors who are looking to buy and sell a wide selection of assets. However, before you open an account, you’ll need to keep in mind that Dotbig does charge fees for accounts that do not make at least one trade per month. This means that the users who will get the most benefits out of their Dotbig account are active investors who won’t have a problem meeting this minimum.
Dotbig offers multiple methods that you can use to get into contact with its customer service team, including the following.
- Via text: Users can connect with customer support by texting +44-800-046-5677. Customer service is available by text around the clock, and you’ll receive a phone call from a representative as soon as possible to help.
- By email: To contact Dotbig by email, send a message to email@example.com. You can also contact the company by submitting an enquiry request form here.
- Via social media: Dotbig maintains a presence on Twitter, Facebook and Instagram. In order to use this contact method, you’ll need to already have an account on your preferred platform or be willing to make one.
Dotbig takes multiple effective steps to ensure that its clients’ data safety is as secure as possible. Personal data is protected by a 256-bit SSL digital encryption certificate, which is the same level of encryption used by some of the world’s largest banks and corporations. 256-bit encryption is one of the most secure encryption methods available and is considered to be logically unbreakable.
Dotbig’s FAQ claims that your money is also protected in the event that the company goes bankrupt. Dotbig segregates platform users’ money and funds from funds used for corporate activities across several banks simultaneously. Dotbig claims that this measure guarantees the safety of your money if the company is forced to file for bankruptcy. Overall, these measures make it easy to rest with the peace of mind that comes with knowing only you can access your account and that your funds are safe.
Dotbig charges commissions on all its orders. You’ll see these commission rates before you place an order through Dotbig, and the commission percentage that you’ll pay may vary depending on market conditions and the assets you’re trading. To open an account with Dotbig and start trading, you’ll also need to be able to make a minimum initial deposit of $250, which is higher than most major competing brokers.
Dotbig also charges an inactivity fee to users. As long as you have a balance of at least 1 euro or dollar in your account, you must complete at least one transaction every 60 calendar days in order to avoid the fee. If you do not meet this minimum, Dotbig reserves the right to charge a fee of up to $100 on a monthly basis. This inactivity fee is part of the reason why Dotbig is more suited to active investors who make multiple trades a month.
Dotbig offers its users a wide range of resources and tools that they can use to enhance their investing and trading. Some of the most impressive features offered by the platform include the following.
- Massive cryptocurrency selection: You can currently trade more than 650 cryptocurrency assets through Dotbig’s platform. This number is significantly higher than major competing crypto brokers. For example, Coinbase Pro users can currently trade a little over 100 varying crypto assets through its platform. This feature can make Dotbig a strong choice for traders who are interested in buying and selling more niche coins and tokens not commonly found on major platforms.
- Advanced trading signals: Active investors may not have time to fully scan the market and news media throughout the day. Dotbig helps these types of traders keep up with information that is likely to affect the market through its automatic news evaluation algorithm. The algorithm evaluates the quality of news…