DotBig vs ForexTime comparison

Finding a good broker in 2022 isn’t an easy task because there are a lot of different competitive companies in the industry. Your choice must be well-thought-out. The article below will help you to make this choice. Keep reading the comparison of forex brokers – DotBig LTD vs ForexTime – and make your best decision.

Overall Comparison

Comparison of Brokers’ Commissions

Commissions and fees impact online trading costs. This is very important information for traders to know because this impacts their forex trading strategy. Experienced participants don’t start trading if they don’t have a clear plan and budget. That is why we decided to compare trading costs.

Trading costs include not only trading fees but also other types of commissions. Both DotBig and FXTM charge them. 

It’s important to specify that the trading fees of both brokers represented here are based on Standard account types that require the minimum deposits.

The trading fees of DotBig

• Minimum spread on currency pairs – 1.2 pips
• Commission for access to the markets – 0%
• Commission on Islamic account – 0%

The trading fees of FXTM

• Minimum spread on currency pairs – 1.2 pips
• Commission for access to the markets – 0%
• Commission on Islamic account – 0%

As you can see, the trading fees of the brokers are the same. However, that doesn’t mean the trading costs are equal. This is because the trading costs are impacted by non-trading fees, and they are different for these companies. So except for comparison of brokers’ spreads, we have to pay attention to commissions charged for basic functions.

Non-trading fees of DotBig

• no account fees
• fees for inactivity
• no deposit fees
• 3.5% commission for withdrawal, 35 Euro for withdrawing via bank transfers

Non-trading fees of FXTM

• no account fees
• fees for inactivity
• $3 for withdrawing via credit cards, $20-40 – for bank transfers

Broker Comparison: Trading Conditions

When it comes to online trading, the majority of clients firstly pay attention to trading conditions of the companies. In this comparison of online brokers, we have a brief description of the most influential conditions.

DotBig LTD offers free access to Forex. Here, traders can speculate 72 currency pairs with the leverage of 1:400 and the minimum spread falling as low as 1.2 pips. As for Forex Time, it displays 59 currency pairs with a similar minimum spread.

Both brokers are good options for speculating assets on stock exchanges. However, the number of financial instruments offered by DotBig LTD is higher – 244 shares vs 170 shares. The same goes for cryptocurrencies because Forex Time isn’t the platform that offers a huge diversity of digital assets – only 4 cryptocurrencies, while DotBig has 659 with an average spread of 1.74 pips. 

The number of commodities and indices displayed on FXTM is also lower compared to assets offered by DotBig – 3 commodities and 11 indices vs 6 commodities and 13 indices. Despite the lower number of financial instruments, FXTM also allows trading CFDs and doesn’t have binary options to speculate.

Broker Comparison: Platforms and Account Types 

Both DotBig and FXTM have MT5 for online trading. However, it might not be available in all countries. That is why, if you prefer developments from MetaQuotes, you are better to choose FXTM because it also has MT4. If it doesn’t matter to you, you may sample the original development of DotBig – DotBig Web. It has a very usable interface and doesn’t need to be downloaded. If you have a good connection and a fast browser, you won’t face any bugs and will get your updates as fast as possible.

Both brokers have a lot of research and analysis tools. However, DotBig doesn’t have news on its platform – to receive them, you need to access the social networks of the company. FXTM, on the other hand, displays the latest news from top-tier sources.  

DotBig is the perfect choice for you if you want to try social or automotive trading. It has almost 100% accurate trading signals.

Demo and Islamic accounts are available with both DotBig and FXTM.

Which Broker is Better Overall?

Having studied conditions, platforms, and the comparison of brokers’ rates on platforms for testimonials, we dare conclude that DotBig is a better option. It offers more financial instruments with beneficial trading conditions and has more training materials for beginners. The only significant disadvantage is the high minimum deposit.