The Foreign Exchange market, popularly known as Forex, is the largest and most liquid market in the world. Every day, thousands of people all over the world enter the market with the goal of making investments and being able to make profits from these investments.
If you are just a new entrant into the world of online trading, chances are that you have little to no knowledge of how the industry works and you may equally have little information about trusted online brokers that will guide you through your journey of becoming a forex trader. Your intentions are to sign up with a broker that knows its onions in the foreign exchange market, to give you a thrilling experience of how the market works and how you can trade and make profits.
However, there is a dilemma you will be bound to face. You will be conflicted in making the choice of an online broker to sign up with, seeing as there are thousands of online brokers who are providing the same services, with each one of them claiming to be the best in the industry. It is very crucial, though, to note that although they all provide the same services you need, the level of their services differs to a large extent.
Therefore, whether you are a new entrant in the financial market or you are an experienced trader searching for a secure, transparent and reliable online broker, there is a wide variety of trusted brokers that you can sign up with and choosing DMX Markets is one of the best choices of online brokers that you can make.
All You Need To Know About DMX Markets
DMX Markets is an online forex broker that delivers its services to millions of clients all over the world. The brokerage platform is operated by Digital C Media, Ltd. and provides its clients with the latest forex trading technologies, institutional-grade spreads, top tier liquidity, and lots more.
The company is well established in providing its clients with a variety of services and a guarantee of safe access to the financial market, equipping them with the essential tools they need to enable them to have the best online trading experience.
In this DMX Markets review, we will be going over some of the provisions that the broker has made for its clients, which tends to set it apart from the rest of the other online brokers and what makes it a wise choice for traders, both old and new.
A factor that is of utmost concern to online traders, both old and new, is the safety of their investments and sensitive personal information. You would not want to sign up with an online broker that does not take the issue of security very seriously, putting your funds and information at great risk.
Interestingly, DMX Markets is one broker that is very concerned about the safety of its clients’ transactions. As a result, it has put in place several strict security measures to ensure that both users’ funds and personal information are not endangered, especially at this time, when the activities of cyber thieves seem to be on the increase.
When it comes to the funds that you deposit into your account, the broker keeps track of them all, down to the smallest amount. These funds are kept in segregated accounts, which are scattered across a wide range of leading banks in the world.
In terms of sensitive personal information that you have shared with the broker, DMX Markets has employed the best encryption systems to verify this information and secure them. The broker has also incorporated the best SSL technologies on every one of its platforms to further ensure the safety of your transactions.
The firm also has strict Anti-money laundering (AML) and Know Your Customer (KYC) policies put in place, with thoroughly vetted employees.
Indeed, DMX Markets is well aware of the importance of security in online trading and aspires to keep the investments of its clients as safe as possible.
DMX Markets helps its clients to diversify their portfolios by offering them different assets they can trade on. The broker provides you with a variety of products such as forex, where you can trade on different currencies including EUR/USD, GBP/USD, USD/JPY, and many more.
Clients can also trade on various commodities in DMX Markets, whether soft or hard, using short or long-term strategies that could potentially be very lucrative.
It also makes provision for stock trading. Although the prices of stocks in the market are constantly fluctuating due to various factors including world events such as the COVID-19 pandemic, shifts in technical progress, and several major business deals, DMX Markets provides its clients with the necessary tools and information required to make good trading decisions.
Indices can also be traded on the DMX Markets online trading platform. These indices are traded as CFDs and they are measured across a fraction of the leading market Equity/Stock indices.
Contract of Difference (CFD) refers to a contract between two parties that are described as the “buyer” and the “seller”, which states that the seller will have to pay the buyer the difference between the current value of an asset and its value at the time of contract. However, if the difference is in the negative, the buyer will then have to pay the seller.
CFDs allow you, as a trader, to take advantage of bull markets, when prices are moving up to make profits from the trade by opening a Long Position, where you can express your optimism that the when closing the position price of the underlying assets will be higher than when you opened it. You can also take advantage of bear markets when prices are moving down to also make profits by opening a Short Position, where you can predict that the price of the underlying asset will be lower at the time of closing the position than when you opened it. You can do all these without actually owning the underlying asset.
DMX Markets has about three different types of trading platforms that you can choose from they include:
The Meta Trader 4 (MT4) is the most widely used trading platform, as it is the most secure platform in the market, with data encrypted and kept private to enable secure trading.
It offers instant responses to trading alerts and signals with chart-based trading and position-keeping.
Using the WebTrader, you can customize your trading in a manner that suits your style, split charts to view the same market on various time frames at the same time.
You can also open, edit, and close different positions with just a couple of clicks, apply a variety of indicators and drawings without any lags.
The DMX Markets trading platform is also available on mobile devices and can be downloaded on iPhones, iOS, and iPads. It is very efficient for people who want to utilize their spare time wisely. It affords you the opportunity of trading with your mobile device anywhere you are.
The mobile app has all the interesting features that can be found on the desktop platform but with an easy to use and understand interface to enable you to trade at a faster and comfortable pace.
The processes involved in depositing funds into your DMX Markets trading account are very easy to follow and fast too. The broker accepts deposits made through various methods such as direct bank transfers and card deposits, including MasterCard, Visa, Union Pay, and many more.
The minimum card deposit is $5 and there are no deposit fees charged. Your deposit will be processed immediately, unlike most brokers that take so much time to process payments.
You can only withdraw funds after you have validated your trading account, and you can do this by uploading your supporting documents, Proof of Identity and Proof of Residency, that deem you eligible for withdrawal on the platform’s secure Members Area.
Once this process is completed, you can then be able to withdraw your funds either by wire transfer or the use of credit/debit cards. The broker makes sure that every fee pertaining to withdrawal is transparent.
We are living in a rapidly changing digital world, and the financial market is not an exemption. Outdated trading methods and tools are ousted and new ones are introduced. Every day, you learn something new pertaining to the market, and in order to make profits, you need to keep acquiring more knowledge, irrespective of how long you have been in the financial market.
DMX Markets is well aware of the importance of education that is why it has provided various learning materials to enable its clients to better understand the global forex trends. The broker has made it easy to access these learning materials by creating the Knowledge Center and the Resources Section on their websites.
These training materials can be used by anyone in the industry, both a beginner and an experienced trader, to gather more information about the financial market from the basics of trading to the most advanced strategies.
There are a variety of formats that these training materials can come in such as e-books and videos loaded with insightful information that is easy to understand, which are created by experts, to help you learn as fast as possible.
You can also derive the most vital form of information from webinars, where you have the opportunity of learning directly from trading experts who have a great deal of experience in forex trading and have quite a vast knowledge of the financial market. You can have access to these training courses, from the basics to the advanced or in-depth courses, depending on the level of trading that you are currently engaging in.
Demo Trading Account
When choosing to sign up on DMX Markets, you can choose whether or not you want to create a demo account or a real account.
For someone who is new to trading, a demo account provides you with the opportunity to test your trading skills by placing virtual trades in real markets. This experience is highly recommended for beginners since it gives them a chance to master the market.
With DMX, you can even use the demo account with leveraged positions, which equips you to better handle market risks and opportunities.
Leveraged trading or more popularly known as margin trading gives a trader the opportunity to trade with more capital than they have on their trading account.
Rest assured, margin trading has its risks and reward, but it is a frequently used tool for experienced traders.
On DMX Markets, verified accounts can trade across different markets such as Forex and commodities, with leveraged positions. The possible leverage ratio is further increased based on the account holders trading history and collateral.
What is Missing?
At the time of writing this review, DMX Markets does not offer trading in cryptocurrencies or derivatives based on these emerging assets. However, being an innovative platform means that such products may become available in the future, and especially based on client demand.
So far, we have evaluated some of the interesting features that make DMX Markets different from the thousands of other online brokers in the world. It has strict security measures to ensure the safety of clients’ funds and personal information, it is regulated by one of the most popular financial watchdogs and many more.
DMX Markets is a broker that has a clear vision of becoming a criterion for the best-practice service by means of around-the-clock coverage that is provided by an efficient client management team.
Therefore, if you are contemplating signing up with the best online broker that will help you make smart trading choices, then, definitely DMX Markets should make it to the top of your list.