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Global DTT Review - is it scam or safe?

Global DTT review - Is globaldtt.com scam or good forex broker?

RATING: 2.8 / 0 REVIEWS Global DTT
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Global DTT is a New Zealand forex and CFD broker, offering a good selection of currency pairs and CFDs, with a choice of several account types on the MetaTrader4 platform.  Here you may check the trading conditions they offer.

 

Account type Min. deposit Max. leverage Spreads
Mini Account $500 1:200 2,8 pips, floating
Standard Account $2000 1:200 1,5 - 2,5 pips, floating
VIP Account $10 000 1:200 1 - 2 pips, floating
ECN Account $25 000 1:200 0 pips*
*commission
 
 

Global DTT Advantages:

 

Sound regulatory status

 

Global DTT is owned and operated by Direct Trading Technologies Limited, a company registered in New Zealand and regulated by the local Financial Market Authority (FMA). There is also a UK based subsidiary of the company - Direct Trading Technologies UK Ltd, which on its part is authorized and regulated by the Financial Conduct Authority (FCA) in the UK.

 

Sound regulation is the single most important factor for the security of any investment on the retail forex market and it is good news that Global DTT is regulated by some of the most respected financial watchdogs in the industry.

 

FCA and FMA regulated brokers are required to follow strict financial and ethical rules, among which to maintain a certain minimum capital adequacy ratio and to keep all clients money in a segregated, protected form creditors account.

 

More over all FCA regulated brokers have to participate in a clients compensation scheme. Under the Financial Services Compensation Scheme all traders with FCA brokers can receive back up to 50 000 GBP of their capital in the event their broker is unable to pay. Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Leverage of up to 200:1

 

Leverage as high as 200:1 is basically enough to accommodate any trading style. Besides, after the European Securities and Markets Authority (ESMA) lowered the maximum leverage allowed with forex transactions in Europe to 30:1, the only regulatory hubs still allowing higher leverage remain New Zealand and Australia. (Restrictions, already in place in US and Japan, limit the maximum leverage to 50:1 and 25:1 respectively.)

 

Good selection of currency pairs including some crypto CFDs

 

Global DTT has a decent selection of trading instruments, including some 35 forex pairs, with some exotic currencies like South African Rand, Chinese Yuan, Turkish Lira, Singapore Dollar, Honk Kong Dollar and Mexican Peso. 

 

Other assets include CFDs on spot metals like gold, silver and copper, energy commodities like natural gas and oil, 10 indices, stocks and even CFDs on Bitcoin, Litecoin, Ethereum and Ripple. Still, here you may also check our list of brokers offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

MetaTrader4 supported 

 

With Global DTT you can choose to download MetaTrader4 for iPhone, Android, Mac and PC  or to use the MT4 web based version. MetaTrader4 is a classic trading solution, supported by most brokers and featuring excellent charting tool, more than 50 in-build market indicators and the option to run automated trading sessions with the help of proprietary trading robots or Exper Advisors, which by the way, you can easily modify on a scripting editor. Here you may check our list of brokers, also supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

Global DTT Disadvantages:

 

Good spreads only with the premium accounts

 

As a rule spreads starting above 1,5 pips are considered uncompetitive. And Global DTT offers spreads, starting below that level only with its premium accounts – the VIP Account and the ECN Account, where spreads are close to zero, but you have a trading commission of 10 USD per lot, which basically adds another 1 pip to the spread, when the second currency of the pair is USD.

 

So when we opened a Demo Account, which mirrors the starting Mini Account, the benchmark EURUSD spread fluctuated about 2,8 pips, which in our opinion is unreasonably high. Here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

High minimum deposit requirement

 

You can start trading at Global DTT with a minimum deposit of 500 USD, which is about two time higher than what most brokers ask as an investment to give you a trading account. Besides, some big well established players like FBS and IG in practice do not have a minimum deposit requirement at all.

 

Few payment methods

 

Global DTT accepts payments only with credit or debit cards like VISA and MasterCard and a bank wire. So here we miss some rather popular e-wallets like Neteller and Skrill. Also we do not see the option to pay with Bitcoins, so here you may check our list of brokers, accepting payments with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion: 

 

Global DTT is a regulated New Zealand broker, which offers a good variety of trading instruments with attractive leverage on the MetaTrader4 platform. 

 

On the downside we should note the relatively high minimum deposit requirement for the premium accounts, which offer tighter spreads.

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Traders` reviews for Global DTT

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