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DGCX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.dgcx.ae/, about the company's legal and temporary regulatory information, the company's address Floor 37, Gold Tower, Cluster I, Jumeirah Lake Towers, Dubai, UAE.

DGCX Forex Broker

Basic Information

Registered Region
United Arab Emirates
Operating Period
--
Company Name
Dubai Gold & Commodities Exchange
Abbreviation
DGCX
Company employee
--
Customer Service Email Address
info@dgcx.ae
Contact Number
+971 4361 1600
Company Website
Company address
Floor 37, Gold Tower, Cluster I, Jumeirah Lake Towers, Dubai, UAE
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

DGCX Review SummaryFounded2005Registered Country/RegionUnited Arab EmiratesRegulationNo regulationMarket InstrumentsCurrencies, Equities, Hydrocarbons, MetalsDemo Account/Leverage/Spread/Trading PlatformCinnober (by Nasdaq) via FIX APIMinimum Deposit/Customer SupportTel: +971 4361 1600Email: info@dgcx.aeDGCX Information DGCX is a UAE-based derivatives exchange established in 2005, offering trading in futures contracts across currencies, metals, hydrocarbons, and equities. It operates on a robust institutional platform (Cinnober by Nasdaq) but is primarily accessible to members and not retail-friendly.Pros and ConsPros Cons Wide range of futures instrumentsNo regulationTransparent fee scheduleHigh trading and membership feesStrong regional presence in Middle East marketsLimited info on trading conditionsIs DGCX Legit? DGCX (Dubai Gold & Commodities Exchange) is based in Dubai and operates under the supervision of the Dubai Multi Commodities Centre (DMCC). However, it does not hold a license from any of the major international financial regulators such as the FCA (UK), ASIC (Australia), or NFA (USA). The domain dgcx.com was registered on January 18, 2002, and will expire on January 18, 2027. It was last updated on August 30, 2024. The domain is currently in a locked status that prevents deletion, renewal, transfer, or updates. Its name servers are listed under Bodis, which suggests the site might be parked or inactive.What Can I Trade on DGCX? DGCX offers a total of 4 types of products, which include a variety of currency pairs, metal futures, hydrocarbon contracts, and equity-related instruments.Tradable Instruments Supported Currencies✔Equities✔Hydrocarbons✔Metals✔Forex❌Commodities❌Indices❌Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌MembershipMembershipApplication FeeFeatureSuitable forBroker Membership$75,000Trade on behalf of clients; requires SCA licenseLicensed brokers, financial firmsTrade Membership$30,000Trade only for own accountInstitutional or proprietary tradersDGCX Fees DGCXs trading fees are high compared to typical retail brokers, especially for precious metals. This is expected as DGCX operates as an institutional-level futures exchange rather than a retail CFD broker. DGCX charges fixed per-side fees per contract. These vary by product.ContractTrade FeeClearing FeeTotal (Excl. VAT/SCA)Daily Gold Futures Contract (DGFC)$125.00$50.00$175.00Mini INR Futures Contract (DINRM)$0.04$0.04$0.08USD/CNH Futures Contract (DUSDCNH)$0.15$0.05$0.20Single Stock Futures – Indian (SSF)$1.00$0.14$1.14Shariah Spot Gold Contract (DGSG)$13.00$2.00$15.00Swap Rates DGCX does not apply traditional swap rates like those used by retail CFD brokers. Instead, it charges a penalty for overnight funds settlement shortages at a rate of 36% per annum.ConditionPenaltyStandard penalty rate36% per annumShortage lasts more than 2 daysPenalty doubled from day 1More than 3 shortages in a calendar monthFuture penalties doubledAdditional consequencesLoss of trading rights, forced position closureTrading PlatformTrading PlatformSupported Available Devices Suitable for Cinnober (by Nasdaq)✔Desktop / Institutional Systems (via FIX API)Institutional and professional traders requiring direct market access

Rating Index

How to login to DGCX?
dgcx Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a dgcx Account The first step to trading on the Dubai Gold and Commodities Exchange (dgcx) is to complete the registration process. This guide will walk you through

  

DGCX Brokers - Comprehensive Information Guide

  

1. Overview of the Broker

  The Dubai Gold and Commodities Exchange (DGCX), established in 2005, is the first derivatives exchange in the Middle East. Located in Dubai, United Arab Emirates, DGCX operates under the regulatory framework of the Dubai Multi Commodities Centre (DMCC). As a private entity, it serves a diverse clientele, including retail traders, institutional investors, and corporations seeking to trade in commodities and currency derivatives.

  Since its inception, DGCX has made significant strides in expanding its product offerings and enhancing trading infrastructure. The exchange has introduced various innovative products, including Sharia-compliant contracts, and has become a pivotal player in the MENA region's financial landscape. The exchange aims to provide a secure and efficient trading environment, facilitating access to global markets for its members.

  DGCX operates as a clearing house, ensuring that all trades are settled efficiently and securely. Its business model encompasses both retail forex trading and institutional services, catering to a wide array of market participants. As a DGCX broker, firms can access a range of trading instruments, including precious metals, base metals, energy products, and currency pairs.

  

2. Regulatory and Compliance Information

  DGCX is regulated by the Securities and Commodities Authority (SCA) of the UAE, ensuring compliance with strict regulatory standards. The registration number for DGCX is F003059, and it holds various licenses that allow it to operate as a derivatives exchange. The regulatory framework is designed to protect investors and maintain market integrity.

  The exchange ensures that client funds are kept in segregated accounts, providing an additional layer of security for investors. Moreover, DGCX participates in investor compensation schemes, offering protection to clients in case of broker insolvency.

  To comply with international standards, DGCX implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. These protocols are essential for maintaining transparency and preventing illicit activities within the trading environment.

  

3. Trading Products and Services

  DGCX offers a wide variety of trading products, catering to the diverse needs of its clients. The exchange provides access to:

  • Forex Currency Pairs: A broad range of currency pairs, including major, minor, and exotic pairs.
  • CFD Products: Contracts for difference on indices, commodities, stocks, and cryptocurrencies.
  • Specialized Products: Unique trading instruments such as Sharia-compliant gold contracts.

  The frequency of product updates is consistent, with new instruments being introduced based on market demand and feedback from members. Retail trading services are complemented by institutional offerings, allowing for a comprehensive trading experience.

  Additionally, DGCX brokers can leverage white-label solutions and asset management services, enhancing their service portfolio and enabling them to cater to a broader client base.

  

4. Trading Platforms and Technology

  DGCX supports the widely-used MetaTrader 5 (MT5) platform, providing traders with advanced tools for analysis and execution. The platform is known for its user-friendly interface and robust functionality, allowing traders to engage in various trading strategies effectively.

  In addition to MT5, DGCX may offer proprietary trading platforms that cater to specific trading needs. The exchange's web-based trading platform is accessible from multiple devices, ensuring traders can manage their accounts and execute trades seamlessly.

  Mobile applications for both iOS and Android devices are also available, providing traders with the flexibility to trade on the go. DGCX operates on an Electronic Communications Network (ECN) model, ensuring fast execution and competitive pricing.

  The exchange's infrastructure is supported by state-of-the-art technology, including high-speed servers located in strategic locations to minimize latency. Furthermore, DGCX offers API access for automated trading, enabling clients to develop and deploy trading algorithms efficiently.

  

5. Account Types and Trading Conditions

  DGCX provides various account types to cater to the needs of different traders. Standard accounts typically require a minimum deposit, with competitive spreads and commissions. Advanced account types, such as VIP and professional accounts, offer enhanced trading conditions, including lower spreads and higher leverage.

  Islamic accounts are available for traders seeking Sharia-compliant options, ensuring that all trading practices adhere to Islamic finance principles. Additionally, DGCX offers demo accounts for traders to practice and familiarize themselves with the trading environment before committing real funds.

  Leverage ratios can vary based on the asset class, allowing traders to maximize their trading potential while managing risk effectively. The minimum trade size and overnight fees are clearly outlined, ensuring transparency in trading conditions.

  

6. Fund Management

  DGCX brokers offer a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirements vary by account type, ensuring accessibility for all traders.

  Deposit processing times are typically swift, allowing traders to fund their accounts without significant delays. Importantly, DGCX brokers do not impose fees on deposits, enhancing the overall trading experience.

  Withdrawal methods are equally diverse, with clear limitations and processing times communicated to clients. The fee structure for withdrawals is transparent, ensuring that traders are aware of any potential costs associated with their transactions.

  

7. Customer Support and Educational Resources

  DGCX brokers provide multiple support channels, including telephone, email, live chat, and social media platforms. Customer service is available during trading hours, accommodating clients across different time zones.

  Multilingual support is offered, catering to the diverse client base of DGCX. Educational resources, such as webinars, tutorials, and e-books, are available to help traders enhance their knowledge and skills.

  Market analysis services are also provided, including daily updates, news, and research reports. DGCX brokers equip their clients with various trading tools, such as calculators, economic calendars, and signal services, to support informed trading decisions.

  

8. Regional Coverage and Restrictions

  DGCX primarily serves clients in the Middle East, with a strong focus on the UAE market. The exchange has established regional offices to facilitate local operations and enhance client support.

  While DGCX welcomes clients from various jurisdictions, certain countries may be restricted due to regulatory compliance. It is essential for potential clients to verify their eligibility before engaging with DGCX brokers.

  Overall, DGCX stands as a leading player in the derivatives trading landscape, offering a robust platform for traders looking to access a diverse range of products and services. As a DGCX broker, firms can leverage the exchange's infrastructure and regulatory framework to provide their clients with a secure and efficient trading experience.

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DGCX Forex Broker has an overall rating of 1.53, Regulatory Index 0.00, License Index 0.00, Business Index 7.15, Software Index 4.00 Risk Control Index 0.00.