Beware! DPS GLOBAL MARKETS is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
DPS GLOBAL MARKETS is an Australian, broker, offering a Standard and an ECN Account with leverage of up to 400:1 and the MetaTarder4 platform.
DPS GLOBAL MARKET offers a selection of 28 forex pairs, including a number of exotic currencies like Norwegian Krone, Chinese Yuan, Hong Kong Dollar and Singapore Dollar. The broker also offers some CFDs on spot metals like gold, silver and copper as well as crude oil – both West Texas Intermediate and Brent.
As tested with a demo account, which mirrors the DPS GLOBAL MARKET Standard Account, the benchmark EURUSD spread floated around 1,6 pips, which is slightly above what traders would usually consider attractive. Have in mind that with a standard account spreads are considered acceptable only when starting below 1,5 pips.
DPS GLOBAL MARKETS regulation & safety of funds
DPS GLOBAL MARKETS does not seem to be a regulated company, but what makes us even more suspicious of this web site is the fact, they do not bother to leave a contact address or even a phone number.
Have in mind that investing with unregulated companies comes with an unreasonably high risk of loosing your funds to scammers.
On the other hand, brokers, regulated by well respected financial institutions such as the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK provides a very sound regulatory framework, which guarantees the safety of capital, invested by traders.
Apart form the requirement to file regular reports and to allow external audits, properly regulated brokers are required to keep all clients funds in a segregated, protected form creditors account, to maintain a certain minimum operational capital and in certain cases even to insure traders money.
With an FCA broker for example you will be able to receive back up to 50 000 GBP of your capital in case your broker happens to be insolvent. A similar compensation scheme with all CySEC brokers guarantee traders up to 20 000 EUR of their investment,
DPS GLOBAL MARKETS deposit/withdrawal methods and fees
Unfortunately in its presentation DPS GLOBAL MARKETS does mot tell us what payment methods do they accept. And yet most brokers accept payments with major credit or debit cards like VISA and MasterCard, e-wallets like Neteller, Skrill and PayPal and naturally bank wire.
DPS GLOBAL MARKETS does not have a minimum deposit requirement, when it comes to its Standard Account, but for an ECN Account the minimum required investment is 20 000 USD.