RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Global DTT is an online forex and CFD broker, based in New Zealand and regulated by the local Financial Market Authority (FMA). The broker offers a choice of several account types and the MetaTrader4 platform.
The trading instruments available include some 35 forex pairs with a number of exotic currencies like South African Rand, Chinese Yuan, Turkish Lira, Singapore Dollar, Honk Kong Dollar and Mexican Peso. You can also choose to trade with CFDs on spot metals like gold, silver and copper, energy commodities like natural gas and oil, 10 indices, stocks and even CFDs on Bitcoin, Litecoin, Ethereum and Ripple.
Global DTT trading conditions
As tested with a demo account the benchmark EURUSD spread fluctuated between 2,7 pips and 2,9 pips, which is almost twice the levels traders would usually expect with a standard account. Have in mind that starting spreads below 1,5 pips are generally considered good.
Trading conditions with the premium VIP Account and the ECN Account are better, but the initial deposit requirement is also higher.
Global DTT offers leverage as high as 1:200 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.
Besides, form August 1st the European Securities and Markets Authority (ESMA) lowered the maximum leverage allowed with forex trade on the European market to 30:1.
Similar restrictions are already in place in the US and Japan, where leverage is caped at 50:1 and 25:1 respectively, and that leaves Australia the only place where traders can still enjoy unrestricted leverage.
Global DTT trading platforms
Global DTT supports the MetaTradcer4 platform, which is the best known trading solution on the market. The platform has great 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.
Global DTT regulation & safety of funds
Global DTT is owned and operated by Direct Trading Technologies Limited, a New Zealand company, regulated by by the the local Financial Market Authority (FMA). Global DTT has also a UK based subsidiary – Direct Trading Technologies UK Ltd, which on its part is authorized and licensed by the Financial Conduct Authority (FCA) in the UK.
That makes Global DTT totally reliable as FMA, along with FCA in the UK, the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) is one of the most reputable financial watchdogs in the industry.
Properly regulated brokers are subject to many regulations among which, the obligation to file regular reports, to allow external audits, to keep all clients funds in a segregated, protected form creditors account and to maintain a certain level of operational capital, which in the case of FMA is 1 million New Zealand dollars. Those funds guarantee that the broker will be able to meet all outstanding payments to traders.
Global DTT deposit/withdrawal methods and fees
You can choose to fund your account at Global DTT only with credit or debit cards like VISA and MasterCard and a wire transfer. Unfortunately popular e-wallets like Neteller and Skrill are not accepted.
The minimum deposit requirement with Global DTT is 500 USD, and this we should note is twice higher than the investment most brokers ask for.