RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
DV Markets is an online FX and CFD broker, based in Sydney, Australia and regulated by the Australian Securities and Investments Commission (ASIC).
The trading instruments available include some 45 forex pairs with a number of exotic currencies like Turkish Lira, Singapore Dollar, Swedish Krona, Norwegian Krone, Mexican Peso, Honk Kong Dollar, and Singapore Dollar. You can also choose to trade with CFDs on 10 major indices, spot metals like silver and gold and oil.
DV Markets trading conditions
As tested with a demo account the benchmark EURUSD spread fluctuated between 1,3 pips and 1,5 pips, which is in line with what traders would usually expect with a standard account. Have in mind that starting spreads below 1,5 pips are generally considered good.
However, those are the spreads DV Markets offers with its Standard Account and unfortunately we were not able to find information about the trading conditions with the premium Pro and Prime accounts.
DV Markets offers leverage as high as 400:1 and this is perfectly enough to fit even the most aggressive trading strategy. Still, our advise is leverage to be used with caution as it is associated with a higher risk of depleting your funds with the slightest fluctuation of the market.
With that in mind, we should note that form August 1st the European Securities and Markets Authority (ESMA) lowered the maximum leverage allowed with forex transactions on the European market to 30:1.
And as similar restrictions are already in place in the US and Japan, where leverage is caped at 50:1 and 25:1 respectively, that leaves Australia the only place where traders can still enjoy higher leverage.
DV Markets trading platforms
With DV Markets you have a choice between MetaTrader4 and a web based trading platform.
MetaTrader4 is the best known trading solution on the market for the past decade or so. The platform has an excellent charting package and features various tools, including over 50 in-build, customizable market indicators and the option to run automated trading sessions with the help of specially designed trading robots, which you can, actually, quite easily modify on a proprietary editor.
DV Markets regulation & safety of funds
DV Markets is owned and operated by Forex Financial Services Pty Ltd., an Australian company, regulated by the Australian Securities and Investments Commission (ASIC), which also operates Forex FS.
That makes the broker totally reliable as ASIC, along with the Financial Conduct Authority (FCA) in the UK, the National Futures Association (NFA) in the US and the Cyprus Securities and Exchange Commission (CySEC) is one of the most reputable financial watchdogs in the industry.
All ASIC regulated brokers, for example, are obliged to follow strict financial and ethical rules, among which to maintain a minimum operational capital of at least 1 000 000 AUD in order to guarantee all payments towards traders.
Another requirement is the presence of a segregated, protected from creditors account, where all clients money are kept.
DV Markets deposit/withdrawal methods and fees
You can choose form a variety of payment methods to fund your account at DV Markets. They accept major credit and debit cards like VISA and MasterCard, bank wire transfers and popular e-wallets like UnionPay, Neteller, Skrill, Alipay, Poli, FasaPay and Internet Banking CNY.
DV Markets do not have a minimum deposit requirement for its two basic account – the Standard Account and the Pro Account and this is great news. Most brokers have a minimum deposit requirement of about 250 USD.
Still, for its premium Prime Account DV Markets asks for a minimum deposit of at least 50 000 USD.