Daily FX Markets Forex Broker

Daily FX Markets Information Daily FX Markets is an unregulated brokerage company registered in 2023 in the United Kingdom and mainly focuses in forex trading. The company offers 3 tiered accounts with minimum deposit $100. The MT5 trading platform ensures pleasant trading experience. Moreover, the broker does not charge any commissions, which significantly reduces trading costs for clients. You can get immediate help by chatting with their representatives online. Furthermore, the learning resources help traders to grow fast in the investment world.Pros and ConsProsConsMT5 platformLack of regulationTiered accountsLimited product optionsAffordable minimum depositNegative review on WikiFXNo commissionNew in the marketEconomic calendarIs Daily FX Markets Legit? The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.What Can I Trade on Daily FX Markets? Daily FX Markets does not diclose much of its business scope, but per its website, forex is its main trading product. Forex (foreign exchange) is the global market for trading national currencies against one another, driven by factors like interest rates and economic indicators. Popular currency pairs include EURUSD, GBPUSD, USDJPY, etc. Nonetheless, when comes to investment, the key principle is always to scatter risks and put money in more than one product.Tradable InstrumentsSupportedForex✔Commodities❌Indices❌Cryptocurrencies❌Shares❌ETFs❌Bonds❌Mutual Funds❌Account Type (Minimum Deposit/Leverage/Spread & Commission) Daily FX Markets does not offer demo accounts for testing and practicing, which is a drawback. But there are 3 tiered live accounts designed for the needs of different customer groups with varying experience levels and financial capacities. The Mini Account requires a minimum deposit of $100, affordable for beginners and those with limited initial capital. Whie goes further, you can choose the Standard acccount, requires an entry level of $1,000, which is said to be the popular one among the three live accounts. For those with ample capital and expect higher returns while accepting the same level of risks, they can choose the Pro account, with a minimum deposit requirement of $5,000. Leverage is up to 1:1000 across all account types. But it's always recommended for you to use leverage prudently to avoid tremendous losses. One of its competitive advantage is the commission-free structure, which significantly reduces trading costs for traders. Moreover, welcome bonuses apply for each account, ranging from 100%-150% of your initial deposit with conditions. You can check with the broker for this if you are interested. However, the broker only claims to offer tight spreads from 0.1 pips, specific details for each account is not readily available.Account TypeMin DepositMax LeverageCommissionMinimum Lot SizeWelcome BonusMini$1001:1000❌0.01100% (Conditions Apply)Standard$1,000125% (Conditions Apply)Pro$5,000150% (Conditions Apply)Trading Platform Daily FX Markets offers the powerful and versatile MT5 trading platforms, which is renowned for its user-friendly intuitive interface, robut performance, advanced analysis tools and flexible customization. You can reach the platform on web, PC and Android devices.Deposit & Withdrawal Per its website, the broker accepts payment by several channels: Visa, American Express, Maestro, Mastercard and NetBanking.Negative Daily FX Markets Reviews on WikiFX On WikiFX, “Exposure” is posted as a word of mouth received from users. Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter. As of now, there's one Daily FX Markets exposure on WikiFX, details as below: Exposure 1. FraudClassificationFraudDate2024-07-28Post CountryMalaysia An investor from Malaysia reported a scam case of the broker. The broker added the trader in an investment group and then froze his funds.Customer Support Options If you want any help or support from Daily FX Markets, you can reach them through phone, email, live chat or visit them in person in their Colombia office. In addition, a contact form is also available on its website. You can fill in your contact info on its website and wait for their representatives to call you or email you.Contact OptionsDetailsPhone+44 20 8638 7242Emailsupport@dailyfxmarkets.comSupport Ticket System✔Online Chat✔Social Media❌Supported LanguageEnglishWebsite LanguageEnglishPhysical Address30 Crown Place 12th Floor, London, United Kingdom, EC2A 4EBThe Bottom Line In summary, though the brokers offers tiered accounts with affordable minimum deposit from $100 and the economic calendar keeps traders catch with the latest market updates. However, the operation without regulation impair its credibility and limitation of product options prevent traders from diversifying their portfolio. Worst of all, the reported fraud case on WikiFX is a major red flag that traders should be careful of. Therefore, before choosing this broker, make full investigation and weigh all the pros and cons is strongly recommended.FAQs Is Daily FX Markets safe? No, the broker is not regulated by any authorities so far, which implies less protection on customers. And there's a fraud report on WikiFX about this broker, which is a major red flag. Is Daily FX Markets good for beginners? No, though the minimum investment is affordable to most traders at $100, the fraud report alerts traders, especially beginners, to be vigilant. What trading platform does Daily FX Markets have? Daily FX Markets offers MT5 platform on web, PC and Android devices.Risk Warning Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.