DotBig is an online broker that offers access to an impressive range of tradable assets. With more than 600 available cryptocurrencies and 70 available fiat currencies, you’ll be hard-pressed to find a broker that offers the same range of diversity that Dotbig forex does. The platform also makes it easy to analyze the day’s news through its curated news notification system, which offers users the most relevant information.
While Dotbig’s streamlined platform is easy enough for anyone to take advantage of, active users will get the most benefits from their accounts. Dotbig uses automation to allow its users to have the most personalized or hands-off investing style they want depending on their trading style and preferences, which can be especially appealing to new traders.
- Active investors, day traders and scalpers
- Investors looking to trade a wide range of securities and assets
- Experienced traders seeking accounts with more available leverage
- Offers a wide range of tradable assets
- No deposit commissions
- Copy trader feature to mimic successful investors
- Minimum initial deposit of $250
- Inactivity fees
DotBig Ratings at a Glance
Dotbig is an online financial services broker that focuses on providing active investors with the opportunity to trade a wide range of assets. The platform was designed with day traders, professional traders and investors who make regular exchanges in mind and aims to provide a one-stop shop for quick access to multiple markets. As a trader who uses a Dotbig broker account for day-to-day investing, you have access to the following assets and securities.
- Currencies: Dotbig currently supports forex trading between 72 unique global currencies.
- Stocks: Dotbig supports stock trading on 244 individual share types. Most of the tradable shares you’ll find on the platform are issued by mega-cap corporations, including names like Netflix, Google, Spotify and Apple.
- Indexes and ETFs: Dotbig currently provides access to 13 major index funds and 20 ETFs. These assets can help add a layer of diversification to your portfolio by strategically bundling groups of stocks together during a single transaction.
- Commodities: You can currently trade futures on six major commodities through Dotbig. Commodities on the platform are traded using contracts for difference (CFDs).
- Cryptocurrencies: Dotbig offers wide access to the cryptocurrency market, with more than 650 supported coins and tokens on a single platform, offering significantly more exposure than most competing brokers that usually limit available projects to around 100 coins and tokens. This feature can make Dotbig an appealing option for active crypto investors.
- Venture investments: Select corporate investors can access venture investment options through Dotbig. This feature is not available to all users on the platform.
Alongside your Dotbig investments, you can also access leverage to enhance your trading. The amount of leverage that you’ll have access to will vary depending on the asset you’re trading and your account type. Currently available leverage maximums are as follows.
- Forex: 1:400
- Index funds and commodities: 1:100
- Cryptocurrencies, stocks and exchange-traded funds (ETFs): 1:10
Specialized cryptocurrency accounts are also available with up to 1:200 leverage. While this level of leverage can help experienced cryptocurrency investors multiply their profits, it can also be dangerous for beginners.
Dotbig also offers a range of tools that you can use to enhance your trading and better analyze the market to develop your trading strategy or execute a current strategy more effectively. You can follow the rate of popular assets in real-time through Dotbig’s platform and keep your finger on the pulse of economic events that are likely to cause market movements. Dotbig’s algorithmic news analysis analyzes and collects data points from a wide variety of news sites across the web while simultaneously leveraging each site’s credibility. The result is a highly curated news feed that helps you be the first to know when major market news breaks without spending hours searching through the day’s top stories.
Overall, Dotbig provides an impressive home base for investors who are looking to buy and sell a wide selection of assets. However, before you open an account, you’ll need to keep in mind that Dotbig does charge fees for accounts that do not make at least one trade per month. This means that the users who will get the most benefits out of their Dotbig account are active investors who won’t have a problem meeting this minimum.
Dotbig offers multiple methods that you can use to get into contact with its customer service team, including the following.
- Via text: Users can connect with customer support by texting +44-800-046-5677. Customer service is available by text around the clock, and you’ll receive a phone call from a representative as soon as possible to help.
- By email: To contact Dotbig by email, send a message to firstname.lastname@example.org. You can also contact the company by submitting an enquiry request form here.
- Via social media: Dotbig maintains a presence on Twitter, Facebook and Instagram. In order to use this contact method, you’ll need to already have an account on your preferred platform or be willing to make one.
Dotbig takes multiple effective steps to ensure that its clients’ data safety is as secure as possible. Personal data is protected by a 256-bit SSL digital encryption certificate, which is the same level of encryption used by some of the world’s largest banks and corporations. 256-bit encryption is one of the most secure encryption methods available and is considered to be logically unbreakable.
Dotbig’s FAQ claims that your money is also protected in the event that the company goes bankrupt. Dotbig segregates platform users' money and funds from funds used for corporate activities across several banks simultaneously. Dotbig claims that this measure guarantees the safety of your money if the company is forced to file for bankruptcy. Overall, these measures make it easy to rest with the peace of mind that comes with knowing only you can access your account and that your funds are safe.
Dotbig charges commissions on all its orders. You’ll see these commission rates before you place an order through Dotbig, and the commission percentage that you’ll pay may vary depending on market conditions and the assets you’re trading. To open an account with Dotbig and start trading, you’ll also need to be able to make a minimum initial deposit of $250, which is higher than most major competing brokers.
Dotbig also charges an inactivity fee to users. As long as you have a balance of at least 1 euro or dollar in your account, you must complete at least one transaction every 60 calendar days in order to avoid the fee. If you do not meet this minimum, Dotbig reserves the right to charge a fee of up to $100 on a monthly basis. This inactivity fee is part of the reason why Dotbig is more suited to active investors who make multiple trades a month.
Dotbig offers its users a wide range of resources and tools that they can use to enhance their investing and trading. Some of the most impressive features offered by the platform include the following.
- Massive cryptocurrency selection: You can currently trade more than 650 cryptocurrency assets through Dotbig’s platform. This number is significantly higher than major competing crypto brokers. For example, Coinbase Pro users can currently trade a little over 100 varying crypto assets through its platform. This feature can make Dotbig a strong choice for traders who are interested in buying and selling more niche coins and tokens not commonly found on major platforms.
- Advanced trading signals: Active investors may not have time to fully scan the market and news media throughout the day. Dotbig helps these types of traders keep up with information that is likely to affect the market through its automatic news evaluation algorithm. The algorithm evaluates the quality of news sources through MediaIndex analysis to only serve you the stories that matter. Investors also have access to more than 50 indicators they can use for their own charting analysis and independent research.
- Social trading functionality: Using Dotbig’s social trading feature, you can copy trades from experienced investors. First, take a look at Dotbig’s leaderboard, which lists real data on the profitability of trades, average return on investment and other indicators in traders' profiles. After you find a trader with a style of investment that works for you, you can enable automatic copy trading, which automatically replicates moves made by the investor. You can customize your social trading experience by adjusting the ratio used in trades. Stop loss and take profit orders also help fully automate your trading.
Dotbig is easy to use and offers multiple features that cut down on delay when trading. For example, the platform’s news notifications are curated using MediaIndex ratings, which means that you’ll only see items that are likely to move the market. This feature can make the platform especially inviting for investors on the go who can’t spend hours doing their own daily research finding relevant news.
Opening an account with Dotbig is also simple. Most users will be able to open their account in as little as five minutes, and verification typically only takes about an hour during the business day. Dotbig has also invested plenty of time making its platform easy to navigate while also providing you with a single universal trading platform. You can customize your interface, helping to further cut down on trading delays.
Dotbig vs. Competitors
Though Dotbig offers a range of tradable assets on its platform, it’s not the only online broker that you can invest through. Depending on the investments that you’re looking for and your trading strategy, competitors like Coinbase Global Inc. (NASDAQ: COIN), Robinhood Markets Inc. (NASDAQ: HOOD) and Interactive Brokers might be better suited to your needs.
Benzinga offers insights and reviews on the following online brokerage service providers. You may want to use the review links below to continue your research before you decide where to open an account.
- securely through DotBig's websiteBest For:ScalpersRating:
If you’re searching for a one-stop-shop for trading across multiple markets, you might want to consider opening an account with Dotbig. Though the platform does charge commissions on its trades and its account inactivity fee is high, active investors will appreciate the level of automation functionality included with their accounts. Dotbig’s security is also high level, employing the same level of encryption as major world institutions. Overall, investors interested in regular trading and social trading are likely to enjoy Dotbig’s clean interface, fast order execution and impressive selection of tradable assets.
Frequently Asked Questions
What does an online broker do?
As an individual retail investor, you cannot buy and sell shares of stock directly on the world’s major stock exchanges. An online broker is a financial services provider that is able to execute buy and sell orders on an exchange on your behalf. In some cases, an online broker charges a commission, which is a fee for carrying out each order. For example, if you wanted to buy 10 shares of Apple Inc. (NASDAQ: AAPL), you’d deposit funds into your online broker account to cover the cost of the shares and submit an order to buy. Your online broker then carries out the order with your funds and deposits the shares into your online account.
Are online brokers safe?
Online trading is safe so long as you use a trusted, regulated online broker. Legitimate brokers have insurance provided by the Securities Investor Protection Corporation (SIPC). This means that, if an insured online broker goes bankrupt, the insurance will refund you cash or assets held in your account. SIPC insurance doesn’t pay you back for a trade that goes south or if the company you hold stock in goes bankrupt, but it does protect you if the online broker itself is insolvent. This insurance is part of the reason why it’s important to only trust your money with well-known service providers.