Recently, the number of brokerage companies and exchanges has increased significantly. If you have experience trading on the Forex market, you may have noticed that innovative tools and services are used there. Many platforms, such as DotBig exchange, operate with modern technologies to provide traders of different levels with as many effective services as possible.
To become a successful market participant, invest your funds in assets correctly and competently. For this, you should focus on the market specifics, its innovations, and tools. By choosing the right broker with the best tools and conditions, you will succeed faster.
Spread Definition
In the financial field, the word “spread” may have several meanings. It depends on a particular context. However, mainly, the spread in trading means the difference between two values: prices, rates, or profitability.
This term is mainly used for prices and yields. For example, the spread is called the difference:
- Asset purchase and sale prices;
- Asset prices at the time of trading and after a certain period;
- Prices of almost identical goods, for example, oil of various brands — Brent, WTI;
- Yields of bonds with different maturities.
The most common spread for an investor is the Bid-Ask spread. It indicates the difference between the best purchase and sale prices of an asset at a particular trading moment.
What Are Pips?
A pip, short for “percentage” and “point”, is the smallest price movement in the exchange rate of a currency pair. The pips is a standardized unit of movement that provides a quantitative assessment of price changes. Understanding pips is important for calculating profit and loss. Traders use this knowledge to effectively manage their positions.
What Is Brokerage Leverage?
Leverage is a brokerage credit support for the user. It is a specific loan in the form of cash or securities provided to a trader. Making transactions on the exchange using leverage is called margin trading. It is the conclusion of purchase and sale transactions using borrowed funds.
Benefits for DotBig Clients
Many experienced traders make money trading Forex through a DotBig intermediary. This company provides optimal conditions for online traders and investors. Even if the user has absolutely no experience in trading with the DotBig exchange, he will have every chance to succeed and achieve a stable passive income from DotBig investments.
Here are the advantages of working with a broker for users.
Low commissions
Commissions and spreads are the main costs that you should be aware of before starting Forex trading. Also, you need to know about swap rates, which are often ignored by novice traders.
Do not trust platforms that offer commission-free pricing. The fact is that such intermediaries charge users higher commissions compared to Forex platforms that have set rates at an average level.
The DotBig exchange does not charge a commission from the client for depositing funds. The trader can pay a fee if it is required by the payment system through which he replenishes the balance. When withdrawing cash rewards, broker users pay up to 3.5% commission.
DotBig also charges a small fee for transferring open positions to the next day.
DotBig leverage
The broker offers leverage for trading online. Thanks to this support, a trader can manage large amounts of assets at the expense of credit funds from a broker, having minimal amounts in his real account. It attracts both newbies and trading experts. Thanks to leveraged support, those who do not have a lot of funds but want to benefit from the price movement in the Forex market and at the same time preserve their capital.
On the DotBig Forex website, one can select many popular assets for trading, which will allow you to diversify one’s investment portfolio. For example, leverage can be used to trade stocks or crypto tokens such as Ethereum or Bitcoin. This feature allows you to significantly increase the chance of making a profit at minimal cost.
Correlation matrix
With this tool, any trader will determine how the exchange rates of currency pairs correlate with each other. This is helpful when you need to know the pip of the currency pair rate, which will allow you to predict its future value.
The correlation of different pairs may differ for any reason and due to various factors. Thanks to the matrix, a trader will determine the moment when a particular currency pair relative to the other will run, based on the data provided by the DotBig platform.
DotBig Trading Tools
DotBig Forex broker provides investors and traders with access to assets from various financial markets. To date, users can work with financial tools, including:
- An impressive pick of currency pairs, including general world money and exotic currencies;
- Raw products. With DotBig, one can trade commodities such as gold, silver, crude oil, and some others;
- Stocks. This international broker offers access to various stocks from around the world, allowing novice and experienced participants to invest in some of the most prominent companies on the global stock market (Microsoft, Boeing, Apple, Tesla, Uber, etc.);
- Indexes. The users can run deals with popular stock indexes such as S&P 500, NASDAQ, Dow Jones, and others after registering on the DotBig site;
- Crypto money. The broker also allows its clients to invest in digital money such as Bitcoin, Ethereum, and Litecoin, satisfying the growing interest in digital assets.
How to Start Trading and Making Money with DotBig?
The DotBig exchange provides clients access to global markets only after registration and verification. One can sign up at the broker’s official website. After that, you need to provide photos or scans of documents to confirm your identity. The broker needs this to ensure that you are a real person and to prevent the possibility of fraud on the part of investors.
If the verification is successful, you can open a trading account through your account at DotBig. Broker’s accounts are divided into two types:
- Demo profile. To run a demo account, one does not need to send real money on the balance, as demo trading is conducted for virtual funds. This option is suitable for novice clients and experienced investors to practice new trading methods, as well as to check the broker’s trading conditions. Thus, you cannot lose money on a demo account due to unsuccessful trades, but you also cannot receive a decent profit since this is a training account.
- A real money mode. To make a profit in the financial markets, you need to make a minimum deposit. On the DotBig broker site, it starts from $100.
The clients of the DotBig site can control the balance of their trading balances through personal accounts. In case of any failures in the trading terminals, delayed cashouts of funds, and other issues, one can ask DotBig’s round-the-clock technical support service. The helpline operates on weekdays. You can choose a convenient communication channel with the manager: by phone, email, via the feedback form on the official DotBig website, or in an online chat on your account.
Conclusion
Today, too many fixed-spread brokers add their “additives” to current quotes. Accordingly, if a user trades constantly in these conditions, he will hardly receive high profits. Thus, it is better to work with DotBig. The platform provides the trader with a low spread with valid interbank quotes, which significantly reduces the costs of market participants. According to DotBig reviews, the exchange provides clients with high trading efficiency, low spreads, and minimal fees.