DragonGain Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this DragonGain Review.
DragonGain offers its clients a single ECN account intended for institutional and professional traders. It provides variable spreads, leverage up to 1:100 and micro tradeable lots on the most widely used forex trading platform, the MetaTrader 4.
Besides, DragonGain provides managed account solutions (MAM accounts) for money managers and investors.
Overall, the broker‘s trading conditions are competitive: comparatively low variable spreads and no commission fees. For comparison purposes, you may look up real-time spreads of 15 leading brokers here. Some traders, however, may find the leverage levels offered mediocre, as most brokerages provide higher ratios.
The Company. Security of Funds
DragonGain provides traders with access to wide range of global markets including over 60 currency pairs, as well as CFDs on Indices, precious metals and some commodities through the MetaTrader 4 platform.
DragonGain is a brand of Finotec Trading UK Limited, which targets mainly Japanese investors. The company is authorized and regulated by the Financial Conduct Authority (FCA) since 2007. Stemming put of Asia, the company operates a number of brands: CSI-FX, Sky Clearing, Ballistic Markets, 121 Clearing Noa Prime, and others.
FCA applies stringent requirements and standards to financial services providers in the UK. To acquire a license from the UK financial watchdog, brokerages must hold net tangible assets amounting to €730 000 and maintain this capital. Furthermore, clients` assets should be kept in segregated bank accounts, separated from the company operating funds.
Most importantly, financial regulation in the UK involves a compensation scheme. All FCA-licensed companies are under the umbrella of the Financial Services Compensation Scheme (FSCS) and in the event of insolvency, there is a maximum compensation cover of £50,000 per person.
Like the majority of forex brokers, DragonGain supports the Metatrader 4 (MT4) trading platform, available as a desktop version and mobile applications.
Developed by Russian company MetaQuotes, MT4 is the worlds’ most popular trading platform. It is equipped with its one-click trading, outstanding charting package, a number of technical analysis indicators and signal copying options. Besides, MT4 enables clients to fully automate their trades by choosing from a wide range of Expert Advisors (EA) and let the program do all the work.
In addition, Built-in Virtual Hosting allows robots and signals to Work 24/7 without interruption.
Methods of Payment
Clients of DragonGain can make deposits to and withdrawals from their accounts via bank wire, credit/debit card (Visa, MasterCard, American Express), e-wallets, such as China Union Pay, and SafeCharge.
Keep in mind that SafeCharge involves 2.95% processing fee, while China UnionPay charges 3.95% plus a 35 cent(USD) transaction processing fee, plus additional withdrawal fee of 2% credit fee plus 20 EUR.
DragonGain is a brand operated by FCA-licensed Finotec Trading UK Ltd., which targets mainly Japanese traders.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
DragonGain Review Conclusion
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