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DPS Global Markets Review - is it scam or safe?

DPS Global Markets Review - is dpsmarkets.com scam or good forex broker?

RATING: 3 / 0 REVIEWS
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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade size Max. leverage Average spreads
Standard $1 0.01 1:400 1.6 pips
ECN $20 000 0.1 1:200 0.2 pips + commission

 

DPS Global Markets is an Australian forex and CFD broker that offers two account types. The Standard account is commission-free and has no minimum initial deposit requirement, but the spreads are slightly high. The ECN account, on the other hand, requires a significant investment, but offers rwa spreads.



DPS GLobal Markets Advanatges:

 

- Licensed in Australia

The most obvious disadvantage of this broker is that it holds a license from the Australian Securities and Investments Commission (ASIC). ASIC is a reliable financial regulator that exercises oversight of financial services providers in the country.

 

 

 

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- MT4 available

DPS Global Markets uses the most popular forex trading platform, Metatrader 4 (MT4). The MT4 offers superior charting and wide range of professional trading tools and features, such as technical analysis indicators, automated strategies (Expert Advisors), and more. Additionally, through the MQL Marketplace one could get a lot of newly developed technical indicators or automated trading systems.

 

 

>> Top MT4 brokers <<

 

 

- No minimum initial deposit

Another thing we like about Global Markets is that it has not set a minimum initial investment requirement. This means that you can open an account by depositing small amount of money.

 

- Leverage up to 1:400

DPS Global Markets offers high leverage ratios, reaching 1:400. This is a nice option, yet trading on margin involves risk of losses, exceeding the initial investments. That is why we advise our readers to be very careful when using leverage levels that high.

 

Those willing to take the risk, may also take a look at a list of brokers offering even higher leverage ratios.

 

 

>> Brokers offering leverage of 1:500 or higher <<

 

 

DPS GLobal Markets Disdvantages:

 

Spreads slightly above the average

We tried out this broker’s platform in demo mode and the spreads are as announced on their website, averaged 1.6 pips on EUR/USD.

 

 

Such spread is slightly above the average. Most brokers offer spread in the range of 1.0 – 1.5 pips for this pair. For example, the typical spread offered by FP Markets, another Australian broker, is 1.45 pips for the EUR/USD pair. For further information and comparison of spreads, check out our dedicated page.

 

 

>> Real-time spreads of tier-top FX brokers <<

 

 

- Limited CFD offering

DPS Global Markets offers trading in around 30 currency pairs and several CFDs. Its CFD portfolio is rather limited – there are no CFDs on stocks, nor ctryptocurrencies. The latter are very popular lately, so if you are interested in BTC trades, check out our list of tightly regulated brokers that offer Bitcoin CFDs.

 

Conclusion

 

DPS Global Markets is an Australian broker that also targets Chinese customers, as its website is also available in Chinese and it also offers Chinese customer support and market analysis. The broker uses the renown MetaTrader 4 platform, provides high leverage levels, and does not require any specific initial investment amount. The only weak sides of this broker are the slightly higher spreads and the fact that its portfolio is not very comprehensive.

 

Of course, the main selling point of DPS Global Markets is the fact that it is authorized to provide financial services by the Australian Securities and Investments Commission (ASIC). Brokers licensed by it must possess net tangible assets amounting to at least $1 million. Besides, they are required to keep customer funds in segregated accounts, separated from the company’s operating funds. DPS Global Markets claims that all customer funds are strictly separated stored in the Australia and New Zealand Banking Group Limited, commonly called ANZ.

 

 

>> Top ASIC-regulated brokers <<

 

 

Here is our summary with regards to DPS GLobal Markets:

 

Pros

Cons

Licensed by ASIC

Spreads slightly above the average

MT4 available

Limited CFD offering

No minimum initial investment required

 

High leverage levels offered

 

 

Latest news about DPS Global Markets
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Traders` reviews for DPS Global Markets

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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