RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Doto is one of those rare brokers on the forex market that is fully regulated and meets all the expectations when it comes to transparency, regulation and security. The company has a legit license issued by Cyprus Security and Exchange Commission and can prove it with all kinds of documents. It also displays all the important information about its trading conditions and payment methods. Keep reading for more details about Doto.eu.
Doto’s Regulation and Safety of Funds
Doto is the registered trademark of a UK holding company of Vasby Capital Markets Ltd. On its website it states that the firm is situated and registered in Limassol, Cyprus and that Doto is a group of regulated brokers.
Vasby Capital Markets, which is trading as Doto, is fully regulated by Cyprus Security and Exchange Commission (CySEC) and is free to operate on the forex market in the EU. It also points out its license number – 399/21. We checked the CySEC`s register and here’s the proof of their regulation, take a look:
You can see the same license number, address and domain information as the one given on the website.
If you have any doubt about a broker’s reliability, always check the respective financial regulator’s register. A lot of the scam brokers claim they have a legit license, but in fact operate on the market illegally. Remember that you put your funds at risk every time you deal with offshore brokers. Happily this is not the case with Doto, as this broker is fully regulated as it became clear already. Let’s see more details about all the requirements that a broker must meet in order to get a license.
All brokers regulated in the EU should also have a minimum capital of 730 000 EUR.
Another requirement states that client’s funds must be kept in segregated accounts, apart from the company’s own capital. Doing so the company assures you that your funds won’t be stolen or misused.
In addition regulated brokers in the European Union are obligated to take part in a compensation scheme. If the broker happens to be insolvent, a relevant institution steps in to compensate the client with a certain amount. In Cyprus the Investor Compensation Fund (ICF) can issue a trader with compensation for up to 20 000 EUR. The amount is similar for most of the European countries.
Doto of course is not an exception from the rule and offers all of the above and even more. Take a look:
On its web page Doto also displays all kinds of different documents that serve as a proof that this firm is to be trusted. For example you can find a Leverage Policy, Order Execution Policy, Client agreement CFD and a lot more.
As you probably know the leverage in the EU is limited to 1:30 for retail traders. This aims to minimize the associated risk of trading with a high level of leverage. Doto also offers a leverage less than 1:30 as well as other excellent trading conditions.
Bonuses in the European Union are also restricted and Doto follows the guidelines once again as it doesn`t offer any kind of promotions. Yet, if you wish to benefit from a starting bonus you can look at some of the offshore subsidiaries of reputable forex brokers here.
As a rule, reputable brokers have to post a warning on their site about the risk of trading with forex assets. Doto also fulfills this requirement, take a look:
Doto’s Trading Software
After we registered on Doto’s website we were told that our request is received and we only have to wait until it’s approved. However there’s no information about their trading platform on the web page and since we couldn’t enter our account immediately we can’t tell for sure what software you can benefit from. This is probably one of the very few downsides of Doto to be honest. Most of the traders look for platforms like MetaTrader 4 and MetaTrader 5 in specific and it would be nice to know if the broker offers them before you make an account.
Anyway, as being industry standard, MT4 and MT5 are what most reputable brokers tend to offer and Doto is probably not an exception.
There’s a reason that MetaTrader 4 and MetaTrader 5 are so popular and preferred by both brokers and traders around the world. We can’t list all of their exceptional features but we can point out some of the top-notch perks.
Starting with security, as we know how important this is for everyone. You can be sure that your funds and personal data are safe as all transactions are encrypted and so is your IP address. We can assure you that very few trading platforms can offer that. Moreover you can really rely on this software to execute your orders promptly and efficiently without any risk of failure.
Maybe the most popular feature of MT4 are the Expert Advisors. This is yet another fantastic aspect of MT4 that traders specifically look for as it can ease your trading experience a lot. In short, Expert Advisors are trading bots that search for market conditions set by you in advance. The bots start automatically to trade the moment they find them.
Don’t think however that MT4 is designed for experienced traders only. On the contrary – this platform is perfect for novices as well as for advanced traders. Its web version can be used on any browser, anywhere and anytime. Furthermore this piece of software can be used on PCs, smartphones and tablets. MetaTrader 4 also provides different educational resources and forex news in case you need to upgrade your knowledge a little.
Both MetaTrader 4 and MetaTrader 5 can be easily downloaded from Google Play Store. With a 4,6 star rating, over 10 million downloads, and 371 000 reviews at Google Play, MetaTrader 5 is by far one of the most popular platforms in the forex industry.
Unfortunately Apple recently removed MT4 and MT5 from its AppStore so these platforms are no longer available for iPhone and iPad. We hope this is going to be temporary and that Apple shall bring them back very soon. All of you that have already downloaded the app – don’t worry, you can still use it, but without any further updates or upgrades.
Doto’s Trading Conditions
On its website Doto accurately lists the trading conditions it offers. Take a look:
As you can see the leverage levels for retail traders don’t exceed 1:30 which is exactly what the European Securities and Markets Authority (ESMA) suggests.
The spread is also said to be less than 1 pip, which is highly advantageous as it comes with lower trading costs.
We couldn’t find any information about the minimum deposit Doto accepts. Usually most of the reputable brokers like Doto offer a minimum deposit of 250 USD or even less – sometimes you can open a micro account with 10 USD. So in this case there’s no need to worry if you ask us.
Doto’s Deposit/Withdrawal methods and fees
On its website Doto gives detailed instructions on how to make a deposit with them. Apparently there is only one option which is a bank transfer.
Everything looks fine and on point here. Unfortunately Doto doesn’t accept a more versatile range of payment methods like Visa/Mastercard, crypto currencies or popular e-wallets like PayPal, Skrill or Neteller. Paying with your credit/ debit card gives you the opportunity to file for a chargeback in 540 days in case you have been a victim of a scam. PayPal, Skrill and Neteller on the other hand also have some advantages in this situation as you can always open a dispute. Note however that bank transfer is also a secure payment and is used by most of the regulated brokers.
Benefits from investing with a regulated broker
Investing your funds with a licensed broker comes with a lot of advantages as security being the top one. You can always be sure that your funds won’t be stolen or misused and that your personal information is well protected. You can also benefit from compensation in the unlikely event of a broker’s insolvency, as we already mentioned.
Regulated brokers like Doto also tend to offer the best possible trading conditions on the forex market. You can also benefit from using industry standard platforms like MetaTrader 4 and MetaTrader 5 and take your investment to the next level.
Reputable brokers usually accept secure payment options that you can trust as well. They also don’t usually ask for a fee upon a withdrawal request unlike a lot of the scam firms out there. But even if there’s a fee, note that it would be insignificant.
But even if you have some complaints against a particular regulated broker, you can always turn to the official authority that oversees its activity and look for your rights.