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The WikiFX Score of this broker is reduced because of too many complaints!

DTT

New Zealand|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

http://dttforex.com/en/

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Contact

info@dttforex.com
http://dttforex.com/en/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

DIRECT TRADING TECHNOLOGIES LIMITED

Company Abbreviation

DTT

Platform registered country and region

New Zealand

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 5
Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

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DTT · Company Summary

Aspect Information
Company Name DTT(DIRECTTRADING TECHNOLOGIES LTD)
Registered Country/Area New Zeland
Founded Year 2018
Regulation Unregulated
Minimum Deposit $500
Maximum Leverage up to 1:200
Spreads as low as 0 pips
Trading Platforms MT4,MT5,DTT pro,smart social trading
Tradable Assets Forex, commodities,stock,indices,CFDs,crypto
Account Types Mini,standard,vip,ECN
Demo Account Available
Customer Support Email :info@dttforex.com
Deposit & Withdrawal Bank transfer,credit/debit card
Educational resource Weekly webinars

Overview of DTT

DTT (Direct Trading Technologies Ltd) is a trading company established in 2018 and registered in New Zealand. Though unregulated, DTT offers a variety of trading platforms, including MT4, MT5, DTT Pro, and smart social trading.

They provide the opportunity to trade in a wide range of assets, such as forex, commodities, stocks, indices, CFDs, and cryptocurrencies. The firm offers various account types, including Mini, Standard, VIP, and ECN, with a minimum deposit requirement of $500 and maximum leverage up to 1:400.

DTT also boasts spreads as low as 0 pips. For those interested in practicing trading, they provide a demo account and also extend educational resources through weekly webinars. Transactions can be made via bank transfer or credit/debit cards, and customers can seek assistance via their email at info@dttforex.com.

Overview of DTT

Is DTT Legit or a Scam?

DTT (Direct Trading Technologies Ltd) is unregulated, suggesting that it isn't under the governance or supervision of any official financial regulatory authority.

While DTT provides a platform to trade in diverse assets like forex, commodities, stocks, indices, CFDs, and cryptocurrencies, there's no guarantee it adheres to the precise legal or ethical guidelines established for trading platforms in any jurisdiction.

It is paramount for potential traders to proceed with caution when considering trading with unregulated entities. It's recommended to undertake comprehensive research or seek advice from financial professionals prior to engaging with DTT.

Pros and Cons

Pros:

  1. Diverse Trading Platforms: Offers a range of trading platforms, including MT4, MT5, DTT Pro, and smart social trading, catering to various trader preferences.

  2. Wide Range of Tradable Assets: Provides an extensive selection of assets, including forex, commodities, stocks, indices, CFDs, and cryptocurrencies, giving traders multiple avenues for investment.

  3. Educational Resources: The availability of weekly webinars indicates a commitment to educating and supporting their traders.

  4. Flexible Account Options: With account types like Mini, Standard, VIP, and ECN, traders can choose based on their needs and investment capacity.

  5. Accessible Customer Support: The provision of an email contact suggests a direct line for trader inquiries and concerns.

Cons:

  1. Lack of Regulation: Being unregulated means they aren't bound by any financial regulatory authority's standards, leading to potential trust issues.

  2. Potential Financial Risks: Without regulatory oversight, traders might face challenges like the absence of compensation mechanisms if the company goes bankrupt.

  3. Minimum Deposit Requirement: A minimum deposit of $500 might be high for some beginner traders or those with limited capital.

  4. Unspecified Spreads: While they claim spreads as low as 0 pips, the typical spread isn't specified, which could lead to unexpected trading costs.

  5. Risk of Fraudulent Activities: Unregulated platforms inherently carry a higher risk of deceitful operations, which could jeopardize trader investments.

Pros Cons
Diverse Trading Platforms Lack of Regulation
Wide Range of Tradable Assets Potential Financial Risks
Educational Resources Minimum Deposit Requirement
Flexible Account Options Unspecified Spreads
Accessible Customer Support Risk of Fraudulent Activities

Market Instruments

Market Instruments

DTT (Direct Trading Technologies Ltd) furnishes traders with a rich array of market instruments, granting access to an expansive trading environment encompassing several asset types. Here's a deeper look into the market instruments they facilitate:

  1. Forex (Foreign Exchange):

    1. Currencies: DTT bestows traders with the opportunity to traverse the comprehensive forex landscape, promoting trade across major, minor, and perhaps even exotic currency pairs. This provision empowers traders to capitalize on the dynamics of global currency markets.

    2. Market Instruments
  2. Commodities:

    1. Diverse Resources: DTT extends access to the commodities market, which might cover an array of hard commodities like metals and energy, and potentially soft commodities such as agricultural products. This facilitates traders in sculpting a diversified trading portfolio.

    2. Market Instruments
  3. Stocks:

    1. Equity Markets: With DTT, traders can dive into the world of stocks, investing in a vast range of companies from multiple industries, and possibly from different geographical regions, thereby harnessing the volatility and prospects of equity markets.

    2. Market Instruments
  4. Indices:

    1. Market Benchmarks: DTT provides paths to engage in market indices, which epitomize a composite value derived from a grouping of relevant stocks or other investment entities. This proposition enables traders to predict and act upon the collective trajectory of specific markets or sectors.

    2. Market Instruments
  5. CFDs and Cryptocurrencies:

    • Market Instruments
    1. Flexible Contracts: DTT allows traders to deal in Contracts for Difference (CFDs), facilitating speculation on price movements without ownership of the underlying asset. Moreover, the inclusion of cryptocurrencies offers an entry into the world of digital assets, tapping into its unique volatility and opportunities.

    2. Market Instruments

Through these offerings, DTT equips traders with a comprehensive toolkit to explore and invest across diverse financial domains, nurturing an ecosystem conducive to a plethora of trading strategies.

Account Types

Finap Trade offers 2 types of accounts for its users.And there are 3 different types in both of them.

FX/CFD Real Accounts (MT4):

  1. Mini Account:

    The Mini account with DTT offers a starting point for traders with a minimum deposit requirement of 500 USD. It comes with a leverage of 1:200 and a contract size where 1 Lot is equivalent to 100,000. The commission for this account type is zero, and traders can expect a normal spread. Additionally, a prepaid card is available at a cost of 35 USD.

  2. Standard Account:

    The Standard account demands a minimum deposit of 2,000 USD. Like the Mini, it offers a leverage of 1:200 and a contract size set at 1 Lot equating to 100,000. This account type does not charge any commission and boasts a professional spread. Users can also access a prepaid card for a charge of 35 USD.

  3. VIP Account:

    For those seeking premium features, the VIP account is tailored with a minimum deposit requirement of 10,000 USD. It provides a leverage of 1:200, and its contract size remains consistent at 1 Lot being 100,000. No commission is levied, and it offers a VIP spread. An added benefit is the free prepaid card available to account holders.

  4. ECN Account:

    The ECN account, seemingly catering to a more professional audience, has an unclear minimum deposit (which might need verification). It provides a more conservative leverage of 1:2. The contract size is consistent at 1 Lot being 100,000. This account type charges a hefty commission of 40,000 USD per lot and ensures no markup on spreads. A prepaid card is available for free.

    1. Account Type Minimum Deposit Leverage Contract Size Commission Spread Prepaid Card Cost
      Mini 500 USD 1:200 1 Lot = 100,000 Zero Normal Spread 35 USD
      Standard 2,000 USD 1:200 1 Lot = 100,000 Zero Professional Spread 35 USD
      VIP 10,000 USD 1:200 1 Lot = 100,000 Zero VIP Spread Free
      ECN 15,000 USD 1:2 1 Lot = 100,000 40,000 USD/Lot No Markup Free
      Account Types

Exchange Traded Stocks (DTTShares):

  1. Standard Account:

    Within the realm of exchange-traded stocks, the Standard account necessitates a 2,000 USD deposit. Managed by Direct Trading Technologies UK LTD, it recognizes 1 Lot as 1 Share, both for segregated client money and contract size. The commission rate is 0.0199, and CFD trading is denoted by the symbol “人”. A minimum charge of 2.99 applies, and trading exchanges include NYSE, NASDAQ, and NYSE MKT.

  2. 10,000 USD Account:

    Despite its unconventional name, this account requires a 10,000 USD deposit. Also managed by Direct Trading Technologies UK LTD, its specifications include 1 Lot being equivalent to 1 Share for segregated client money and contract size. It charges a commission rate of 0.0199 and employs the symbol “K” for CFD trading. Users are subject to a minimum charge of 1.99, and permissible exchanges encompass NYSE, NASDAQ, and NYSE MKT.

  3. Platinum Account:

    The Platinum account, positioned as a premium offering, mandates a significant minimum deposit of 100,000 USD. While it lists a leverage of 1:200 (which might be an oversight), its contract size defines 1 Lot as 1 Share. It charges a commission rate of 0.0199, with CFD trading priced at 1.19. Trading exchanges for this account are NYSE, NASDAQ, and NYSE MKT.

Account Type Minimum Deposit Entity Contract Size Commission Minimum Charge
Standard 2,000 USD Direct Trading Technologies UK LTD 1 Lot = 1 Share 0.0199 2.99
10,000 USD 10,000 USD Direct Trading Technologies UK LTD 1 Lot = 1 Share 0.0199 1.99
Platinum 100,000 USD 1:200 1 Lot = 1 Share 0.0199 1.19
Account Types

How to Open an Account?

Opening an account on a trading platform in DTT typically involves several standard steps. Heres a step-by-step guide:

  1. Visit the Official Website: Start by navigating to the official website of Direct Trading Technologies Ltd (DTT). Look for the “Open an Account” or “Register” button, typically prominently displayed on the homepage.

  2. Fill Out the Registration Form:Once you click on the registration button, you'll be presented with a form. Here, provide all the necessary personal details such as your name, email address, contact number, and any other requested information. Ensure that all details are accurate to avoid any future complications.

  3. Submit Required Documents:Regulatory and security protocols often require identity verification. Be prepared to upload scanned copies of identification documents like your passport, driver's license, or national ID. Additionally, proof of address might be needed, such as a recent utility bill or bank statement.

  4. Choose an Account Type:Based on your trading needs and the amount you're willing to deposit, select one of the available account types (Mini, Standard, VIP, ECN, etc.). Each account type might offer different features and benefits, so choose the one most suitable for you.

  5. Deposit Funds and Start Trading:Once your account is approved, you'll need to fund it. Navigate to the deposit section, choose your preferred payment method (bank transfer, credit/debit card, etc.), and follow the on-screen instructions to complete the deposit. After your funds are credited, you're ready to start trading!

How to Open an Account?

Leverage

Direct Trading Technologies Ltd (DTT) provides leverage up to 1:200 across its various account types. In practical terms, this denotes that a trader can boost their position size to be as much as 200 times greater than their existing account balance.

While this can significantly increase potential returns, it's crucial to remember that it can also escalate potential losses. As a result, leveraging should be approached with caution, and traders should be well-informed of both its benefits and inherent dangers.

Leverage

Spreads &Commissions

Spreads:In the trading world, spreads refer to the difference between the buying and selling price of an asset, often serving as an implicit cost that traders must consider. For Direct Trading Technologies Ltd (DTT), spreads can go as low as 0 pips, particularly beneficial for traders aiming for minimal trading costs.

Depending on the account type, DTT offers varying spread structures. For instance, the Mini account has a normal spread, the Standard account offers a professional spread, and the VIP account boasts a VIP spread.

It's essential for traders to be familiar with the spread details of their chosen account type to effectively manage and predict their trading expenses.

Commissions:At DTT, the commission structures differ across account types. The Mini, Standard, and VIP accounts all offer 0.0019 USD commissions.However, the ECN account is distinct, imposing a substantial commission of 40,000 USD per lot. This indicates that for each lot traded in the ECN account, the trader would be charged this hefty commission.

Trading Platform

Direct Trading Technologies Ltd (DTT) offers its traders a suite of versatile trading platforms, ensuring that both beginners and professionals find tools tailored to their needs.

MetaTrader 4 (MT4):MT4 stands as an iconic platform in the trading community, lauded for its intuitive interface, comprehensive technical analysis capabilities, and the option to employ automated trading tactics through Expert Advisors (EAs).

Both newcomers and seasoned traders will appreciate MT4's expansive charting tools, multiple timeframes, and a vast marketplace brimming with indicators and trading resources.

With the integration of the MQL4 programming language, traders and developers at DTT can create customized indicators and craft automated trading strategies, enhancing their trading experience.

MetaTrader 5 (MT5):Often viewed as the natural evolution of MT4, MT5 retains all the strengths of its predecessor while bringing in additional functionalities to satisfy the demands of advanced traders.

MT5 unveils a broader range of timeframes, augmented order types, an embedded economic calendar, and support for an expanded list of asset classes. One pivotal enhancement is the introduction of MQL5, a refined programming language that permits the creation of even more intricate algorithmic trading strategies.

DTT's provision of MT5 ensures that traders looking for a cutting-edge platform find what they're seeking.

DTT Pro & Smart Social Trading:In addition to the MetaTrader offerings, DTT introduces its proprietary platform, DTT Pro, which might offer unique features and tools tailored to the specific needs of its clientele.

The Smart Social Trading platform further expands the options, potentially allowing traders to follow and replicate the strategies of seasoned professionals in the community.

All these platforms, including MT4 and MT5, are available across a spectrum of devices—desktops, mobiles, and web browsers—guaranteeing that DTT traders maintain uninterrupted access to global markets, regardless of their location.

Trading Platform

Deposit & Withdrawal

Direct Trading Technologies Ltd (DTT) presents traders with an array of methods for both depositing and withdrawing funds, ensuring that users experience both adaptability and ease in their financial transactions.

Deposit Methods:

  1. Bank Transfer: This classic method facilitates traders to move funds straight from their bank accounts into their DTT trading accounts. Although this method is known for its security, it's worth noting that bank transfers might necessitate several business days to finalize.

  2. Credit/Debit Card: A widely favored approach, funding via credit or debit cards usually results in the swift crediting of funds to the trading account, allowing traders to commence their activities without undue delays.

Withdrawal Methods:While the specifics regarding withdrawal avenues aren't delineated in the initial details, it's a standard procedure for trading entities like DTT to enable withdrawals via the same channels provided for deposits. Thus, traders can anticipate the availability of both bank transfers and credit/debit card methods for their withdrawal needs.

Deposit & Withdrawal

Educational Resources

Direct Trading Technologies Ltd (DTT) demonstrates a commitment to trader education by offering weekly webinars as part of its educational resources.

These webinars are likely designed to provide traders, both novice and experienced, with insights into the current market dynamics, trading strategies, and best practices. The live format of webinars allows for real-time interaction, enabling participants to pose questions and seek clarifications on various trading-related topics.

By providing such resources, DTT aims to equip its traders with the necessary knowledge and skills to navigate the complexities of the financial markets confidently.

Educational Resources

Customer Support

Direct Trading Technologies Limited (DTT) is committed to providing comprehensive customer support to its clients. For any queries or concerns, clients can reach out to DTT via email at info@dttforex.com.

Given DTT's registration in New Zealand, traders are encouraged to exercise due diligence when interacting and seeking assistance to ensure a seamless trading experience. For further details and to explore more about DTT's offerings, clients can visit the company's official website at http://dttforex.com/en/.

Customer Support

Conclusion

Direct Trading Technologies Ltd (DTT), registered in New Zealand and established in 2018, offers a diverse trading environment to its clientele. With a range of account types, advanced trading platforms, flexible deposit and withdrawal options, and a dedicated educational segment featuring weekly webinars, DTT endeavors to cater to both new and seasoned traders.

However, being unregulated, it's imperative for potential users to approach with caution, ensuring thorough research and understanding of the platform before engaging in trading activities. Overall, DTT seems to provide a comprehensive trading experience, but its regulatory status demands careful consideration.

FAQs

Q: What trading platforms does DTT offer to its clients?

A: DTT provides its traders with access to many trading platforms,as MetaTrader 4 (MT4),MT5,DTT pro,smart social trading.

Q: What is the minimum deposit required to open an account with DTT?

A: The minimum deposit varies based on the account type. For a Mini account, the minimum deposit is $500, while for a Standard account, it's $2,000.

Q: Does DTT provide any educational resources for its traders?

A: Yes, DTT offers weekly webinars as part of its educational resources to help traders enhance their trading knowledge and skills.

Q: Are there any commissions associated with trading on DTT?

A: Commissions vary depending on the account type. For instance, ECN accounts have a commission of 40,000 USD per lot, while Mini, Standard, and VIP accounts have zero commissions.

Q: How can I contact DTT's customer support?

A: You can reach DTT's customer support through email at info@dttforex.com.

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FX1088954166
more than one year
THIS COMPANY IS A SCAM! DO NOT INVEST WITH THIS COMPANY UNDER ANY CIRCUMSTANCE. THEY WILL BULLY AND PRESSURISE YOU INTO DEPOSITING FUNDS BUT YOU WILL NEVER BE ABLE TO WITHDRAW.
2022-12-06 15:44
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