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DIDI FX Review - is it scam or safe?

DIDI FX Review - Is didifx.co.uk scam or good forex broker?

RATING: 2 / 1 REVIEWS ForexBrokerz DIDI FX
DIDI FX is an offshore broker. Your money is not safe.

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Trading Accounts

Account Type Minimum Deposit Maximum Leverage Spread
Standard $1 1:500 From 0.2 pips


 
DIDI FX is a STP forex broker, which currently offers a single account type. They are mostly focused on the Chinese market, as several sections of their website suggest


 
The Company. Security of Funds


 

Company Country Regulation
DIDI FX Investment Limited Vanuatu VFSC


DIDI FX Investment Limited is the company behind this broker. It is registered and regulated in Vanuatu. Off-shore companies don’t inspire the same level of trust, as ones based in developed economies.


You may already know this, but most countries have specific regulatory agencies, which oversee the financial services industry. In Vanuatu, this is the VFSC, which is best known for its low capital requirement for forex brokers – only $2,000. On the other hand, let’s say the Australian Securities and Investments Commission (ASIC) requires a minimum of AUD 1 million. This measure alone prevents most scammers from even attempting to register in the land down under. Furthermore ASIC forces companies to keep client funds in the so-called segregated accounts. This rule states a broker can’t freely access a trader’s funds. In essence, a simple form of fraud – your broker taking your money, giving you a fake trading environment and not allowing you to withdraw – is totally prevented.



 
Trading Conditions
 


Minimum Initial Deposit

DIDI FX has set the minimum deposit at $1, allowing basically everybody to join. As you may assume, there are legal and technical costs associated with the creation of a new account, so this policy may seem a bit absurd to you. That being said this is not the only broker, attempting to attract clients by lowering the entry bar. For instance, the FCA-regulated industry pioneers at IG do not have a deposit requirement.


Do keep in mind this is something which new traders should maybe look at. Experienced ones, will tell you better funding is required, if you are to succeed in the forex market.
 
Average spreads & Commissions

Spreads at DIDI FX are amazingly low. They are variable and start at around 0.2-0.3 pips. There is no commission on top of that. However we have not tested the slippage on live accounts.


Although these conditions appear amazing, given the current offerings by other brokers, we must remind you this is an off-shore broker. As mentioned earlier, there are several risks involved with such a company.
 
Leverage

DIDI FX has set the maximum leverage at 1:500. Such a level is not that uncommon nowadays, although it can be dangerous for the unsophisticated trader.


Many industry analysts state, misusing leverage is the key reason for the astonishing amount of losing traders in the FX market. In the US, regulators have capped the levels which can be offered to retail traders to 1:50. Think twice before over-gearing.


 
Trading Platforms

 


DIDI FX offers the popular MetaTrader4 (MT4) platform to its clients. This is the current standard, when it comes to currency trading. It is provided by many brokers, as the platform is stable and enjoyable by traders of all calibers.MT4 is great for technical traders, as it provides a fantastic charting environment and a plethora of indicators, including custom-0made ones. This leads us to one of the platform’s key advantages – the MQL programing potential and marketplace. There are thousands of tools, create by traders for traders. Other than the technical indicators, automated trading systems, or Expert Advisors are also very popular.


Here is a preview of the MetaTrader4 platform, as provided by DIDI FX:


 


 
Methods of Payment


 
DIDI FX offers a few payment methods, which cover a lot of bases. They are Credit/Debit card, Skrill, Webmoney and China Uionpay.


Conclusion


 DIDI FX is an off-shore broker, which offers amazing spreads. This leaves us with mixed feelings, although we would still consider the regulatory framework, in which a company operates to be more important than the trading conditions. Trading with better spreads will not compensate you, if your funds aren’t 100% secure. Here is a summary of this broker:

Pros Cons
MetaTrader4 platform Off-shore regulation
Low spreads  

 

Latest news about DIDI FX
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Traders` reviews for DIDI FX

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

Pros

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