DotBig exchange fees: How to minimize costs when trading

Many novices make mistakes when choosing an asset to invest in. Forex newcomers are driven by emotions, the news background, and the desire for quick profits. To reduce the risks of losing money, it is worth taking a more responsible approach to choosing financial instruments, as well as carefully choosing an intermediary between yourself and the Forex market.

DotBig broker is a trustworthy brokerage company with a worldwide reputation, offering an impressive range of services to both beginners and experienced investors and traders. This market intermediary operates in several regions, including Asia, Europe, and the USA. The company’s clients get access to popular assets of the global financial markets.

Read on to learn more about which assets to choose when trading with the DotBig trading site for the first time, as well as how to minimize your costs.

Briefly about DotBig

DotBig is an online trading platform where users can trade cryptocurrencies, stocks, and other assets. High order processing speed and low spreads make the broker suitable for scalpers. Intraday trading and long-term investment strategies are also available to traders.

DotBig has been operating in the financial markets of Asia, Europe, the USA, and other regions for more than 20 years. The company regularly develops new regions and improves trading and analytical tools.

You can use fundamental and technical analysis tools to predict asset quotes.

Choosing an Asset for Trading

At the beginning of the Forex dealing, experts recommend novice investors choose what to invest money in based on these parameters:

• Liquidity. This parameter shows how easily an asset can be bought or sold on the market without changing its price. High liquidity is important for novice traders, as it allows them to enter and exit trades more smoothly;
• Volatility (the rate at which the price of an asset increases or decreases). Novice investors should choose financial instruments with moderate volatility, as it is easier to predict changes in their quotes;
• Availability of information about the asset. The more popular a financial instrument is, the more news, analytical articles, forecasts, etc. can be found about it. A large amount of up-to-date information in the public domain makes it easier to predict asset quotes.

Beginners in trading are not recommended to choose assets with a high degree of risk, such as binary options. It is also worth avoiding difficult-to-predict instruments that are characterized by increased exchange rate volatility or uncertain growth prospects. Such assets include shares of companies that have just entered the market, exotic currency pairs, cryptocurrencies with short-term price increases, and sharp drops in quotations.

DotBig Fees

This broker operates on a spread-based pricing model. This means that most of Dotbig’s revenue consists of the difference between the purchase and sale prices (spread). This structure simplifies the calculation of costs for the exchange’s clients since it eliminates hidden fees.

In addition to the spread, DotBig exchange has a swap. This commission is charged by the broker for open trades that traders transfer to the next trading day.

DotBig also charges a fee for an inactive account. The company is interested in active customers, so it charges a commission from traders who do not use their trading account for one month or longer.

When depositing funds, traders do not pay anything. The broker charges a commission only for the withdrawal of funds.

When withdrawing profits to a card or e-wallet, the commission amount can reach 3.5%, depending on the withdrawal amount and payment method. A fixed fee is charged for the transfer through the bank. Because of this, some traders in DotBig reviews recommend using a bank transfer to withdraw large amounts from a trading account to minimize costs when trading.

Training Program

To trade assets with minimal costs, you do not need to have a lot of investment experience. The company is aimed at novice traders and will teach you everything you need.

You can use Forex market articles, instructions on how to launch trading terminals, DotBig Forex analytics, and reviews on financial markets. If you are not confident in your abilities, register on the social trading platform and copy the deals of more experienced investors.

Summary

DotBig is a reputable brokerage agent that offers a comprehensive range of trading accounts, convenient platforms, and competitive investing conditions. Before choosing the DotBig site or any other broker, you need to evaluate your trading goals and level of investment knowledge to determine which type of account and platform best suits your needs.

DotBig broker is suitable for investors who trade using various trading strategies. To get more benefits, discuss your trading goals in detail with your manager before starting. The broker provides support at all stages of cooperation, so you can ask any questions to representatives of the brokers support.