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Dif Broker Review - is it scam or safe?

Dif Broker Review - is difbroker.com scam or good forex broker?

RATING: 2.3 / 1 REVIEWS ForexBrokerz Dif Broker
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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade size Max. Leverage Spreads
Stabdard 2000 EUR 0.1 1:30 3.0 pips, fixed

 

Dif Broker is a Portuguese broker that offers trading in many currency pairs and various CFDs, including wide range of stocks on its in-house platform. The broker has a single account type with fixed spreads and no option to use micro tradeable lots. Below, you can read a detailed description of the positive and negative sides of Dif Broker’s offer.

 

 

Dif Broker Advanatges:

 

Regulated in Portugal (EU)

One of the main benefits of dealing with Dif Broker is the fact that it is a well regulated broker. The brand is woned by Sociedade Corretora SA, a company based in Portugal that is authorized and regulated by the Portuguese Securities Market Commission (CMVM). It is also registered with a number of EU financial regulators, such as UK’s FCA, Germany’s BaFIN, and others.

Portugal is definitely not a popular destination for forex brokers, but it is a European Union Member State and an integral part of Eurozone. This means that a CMVM license allows a broker to provide its services throughout the EU and the EEA.

 

A plethora of financial instruments

Clients of Dif Broker are offered wide range of assets for trade, including Forex, CFDs, equities, stocks futures, options, and bonds. The broker claims that its product portfolio inclues more than 30 000 financial instruments.

 

Relatively nice trading platform

Unlike most brokers, this one does not offer trading on MetaTrader 4 (MT4). Instead, it has developed an in-house multi-asset trading platform, called DIF Freedom.


The platform allows users to place market or limit orders, to trade from the watch list, or directly from the charts in real time. It also has up-to-date news bulletins, trading analysis, economic calendar, etc. It is available as a desktop download, web version, and mobile apps. Nonetheless, it lacks some features available on the MT4 - most notably, the advanced charting and the automated trading options.

 

 

DIF Freedom (web). Click to zoom.

 

 

Dif Broker Disdvantages:

 

High Spreads

As we mentioned earlier, Dif Broker is a fixed-spread broker. While most such brokers offer a fixed spread of 2 pips on EUR/USD, however, Dif Broker’s spread for this pair is 3 pips.

 

In case you prefer trading with fixed spreads, you can check out the offer of easyMarkets – a European broker that provides a spread fixed at 1 pips to each client who deposits $250.

 

MT4 not available

Although the DIF Freedom platform is not that bad, it lacks some of MT4’s advanced features. That is why most brokers that have developed their proprietary trading platforms, still support the highly praised MT4. Unfortunately, Dif Broker is not one of them.

 

 

>> Searching for a MT4 broker? <<

 

 

Metatrader 4 (MT4) is user-friendly and reliable, MT4 is globally popular for its top-notch charting, speed of execution, variety of built-in indicators, automated trade options (EAs) and extensive back-testing environment.

 

High initial deposit

In order to open a live account with Dif Broker, one has to deposit at least EUR 2000, which is not a small amount of money. Meanwhile, most forex brokers require $200 or even less as a start.

 

Negative user comments 

Dif Broker is short for different, but our research revealed that this broker is not that different from the others. There is quite a lot negative user feedback about it. Traders mostly complain of slow execution speed and delays in withdrawals. Some also claim that Dif Broker’s customer support is incompetent.

 

Conclusion

 

Dif Broker a Portuguese forex and CFD broker whose product portfolio is quite impressive. Its main advantage, however, is the fact that it is licensed by Portugal’s financial authority, the CMVM, and is therefore entitled to operate throughout the EU and the EEA.

 

Speaking of EU financial regulation, probably the most popular jurisdiction for forex brokers in Europe is currently Cyprus. Now that the UK is in the process of exiting of the EU, a lot of brokers eye the Cyprus Securities and Exchange Commission (CySEC) as the best alternative. Below, you can find some of the best forex brokers, regulated in Cyprus.

 

 

>> CySEC-licensed forex brokers <<

 

 

To sum up the strong and weak sides of Dif Broker:

 

Pros Cons
Well-regulated Wide fixed spreads
Wide range of trading instruments MT4 not available
Relatively nice platform High min. deposit required
  Negative feedback

 

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Traders` reviews for Dif Broker

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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