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The difference between the two platforms is that MT4 is a Forex-only platform, while MT5 allows trading on all the assets available at DotBig. We recommend using MT5 if you are looking for a more powerful and faster trading platform when it comes to back-testing functionality for automated trading algorithms. Additionally, traders prefer MT5 for its depth of market display, additional technical indicators, and analytical tools.

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As well as fully audited trading procedures that are strictly checked by the authority on a daily basis in addition to negative balance protection. There are numerous entities Ava respectfully established apart from being regulated by the Central Bank of Ireland. Which also includes authorization from the world famous regulatory bodies ASIC , FSP , FSA , Abu Dhabi authority, ESMA in European Union, British Virgin Islands and more.

• Unlike DotBig’s proprietary web trader, algorithmic trading is available, and MT4 is fully customisable.
• They blocked my access to account for a few days without any reason or justification.
• If you want to explore more, browse our list of top forex brokers in Nigeriaand get details on various platforms.
• Traders must have worked in the financial sector for at least one year in a professional position.

DotBig doesn't charge any account fees, while deposits and withdrawals are also free of charge. On the flip side, the product portfolio is limited as it consists only of forex, various CFDs (for stocks, indexes, commodities, etc.) and cryptos. Inactivity fees are high, and forex trading fees are not the most competitive on the market. With so many online brokers to choose from, how can you decide which one to work with? There are a number of ways to make this decision, including looking at the broker’s track record, regulatory status and also reputation. We are proud to say that most of the feedback we get is extremely positive.

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Also you may open a Demo account at the beginning to test brokers’ environment. Islamic account is meant for clients trading following Sharia Law. It shares most of the standard account features but does not include cryptocurrencies and Rollovers for most forex pairs . As you sign https://www.plus500.com/en-US/Trading/Forex up on DotBig, you can open one of the following account types. All of them have their similarities and fixed spreads and support mini or micro lots of trading. Yes, DotBig is a legit trading platform that allows trading of forex and CFDs along with cryptocurrency trading.

Lastly, there is an inactivity fee that is charged if you didn’t show any activity or open trades for a period of 3 month. Moreover, the broker sets a fee for administration of 100$ in case you didn’t use the account for 12 consecutive months, so you better keep an eye over your account. DotBig is a broker that offers range from Forex pairs, CFD trading to Cryptocurrencies available to trade with no restrictions on short selling or scalping. Generally, DotBig is an STP and OTC broker that also uses high-technology for order executions, means quotes received from interbank and connected to the market itself. DotBig offers traders a commission-free pricing environment, but it comes with higher spreads.