To start online trading, you first need to decide on a reliable intermediary in the Forex market. When choosing an intermediary company, you need to take into account various factors: commission, account types, availability of bonuses, available assets. Comparing brokers will help you find a company that suits your needs. In this article, we will look at two companies that were in demand in 2021: RoboForex and DotBig.
Fundamental differences between brokers
Selected brokerage companies offer suitable conditions for anyone looking to trade Forex from scratch. Newcomers can attend courses, study articles on trading and financial markets. DotBig ltd in all tariffs also provides access to free PRO-webinars, the number depends on the type of account.
RoboForex trading conditions:
- financial instruments: stocks, metals, Forex, cryptocurrencies, ETFs, indices, energy products, CFDs;
- account types: demo, Prime, ECN, R StocksTrader, Pro-Cent, Pro;
- bonus program – yes;
- mobile platform – yes;
- affiliate program – yes;
- leverage – 1:2000;
- payment systems: bank transfer, Skrill, Neteller, AdvCash, Perfect Money, Visa/Mastercard/JCB, Kassa24;
- technical support – 24/7;
- negative balance protection – yes.
DotBig trading conditions:
- financial instruments: stocks, metals, Forex, cryptocurrencies, ETFs, indices, energy products, CFDs;
- account types: basic, standard, silver, gold, platinum, VIP;
- bonus program – yes;
- mobile platform – yes;
- affiliate program – yes;
- leverage – 1:400;
- payment systems: VISA/MasterCard, bank transfer, YooMoney, PayPal, WebMoney, Qiwi, Transferwise, cryptocurrencies;
- technical support – 24/7;
- negative balance protection – yes.
When comparing online brokers, the availability of analytical tools was also taken into account. RoboForex clients can use forecasts, economic calendars, and analytics at the rate of popular assets. DotBig ltd provides automatic trading with trade signals.
Trading platforms
In both companies, you can trade Forex through the MT4 and MT5 terminals. RoboForex also opens access to cTrader and R StocksTrader platforms. The second broker also offers its own web terminal with all the basic functions for online trading.
Both the brokers we compare offer social trading platforms. Copy-trading services developed by companies allow investors to copy profitable trades of successful Forex participants.
Trading accounts
To compare the rates of brokers, we analyzed the volume of the initial deposit, the availability of bonuses, and other conditions. The minimum deposit amount at RoboForex for all accounts except R StocksTrader is $10. The latter rate differs from the others by the absence of bonuses. This broker also has Islamic and Cent accounts.
DotBig, on the other hand, offers optimal conditions for newcomers in a basic account with a minimum deposit of $100. Silver, Gold, Platinum rates are good for traders with large trading volumes. VIP account holders receive favorable conditions with bonuses, cashback, and the development of an individual strategy. One of the advantages of this broker is the availability of a universal account for trading various assets.
Comparison of fees
RoboForex does not charge withdrawal fees, unlike the second broker. However, transaction fees can be charged by payment systems. When choosing an intermediary for making money on Forex, consider not only main but also additional commissions. The latter include swaps, transaction fees, and an inactive account. So DotBig was the last announced commission. If you do not use an open account for more than 1 month, the company charges an additional fee.
When comparing broker commissions, it is also important to consider spreads. This indicator is floating for both companies and starts from 0 points. Comparing brokers’ spreads, it was also found out that their size depends on the type of account. The lowest threshold for this indicator is present in tariffs with a minimum deposit.
Conclusion on the broker comparison
When comparing brokers, it is better to prefer a company with the highest commission for deposit or withdrawal of funds, but with tight spreads. Both companies in question offer a wide range of assets. DotBig has more favorable conditions for crypto traders. Clients of this broker can use a crypto card to deposit and withdraw funds, which is quite relevant in 2021.