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DMM FX Brokers Fees and Spreads

DMM FX Fees and Spreads

 

 

 

DMM FX does not charge commission fees with spreads from 1.7 pips.

DMM FX doesn’t charge any account fees, while deposits and withdrawals are also free of charge. It is unclear if DMM FX charges an inactivity fee.

 

Finding a reputable list about DMM FX Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below are an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

DMM FX is a fixed spread forex broker and spreads start from 1.7 pips on EUR/USD.

Fees, spreads, and commissions mentioned on the company spread list that traders can expect when trading with DMM FX is as follows:

  • DMM FX offers competitive spreads on its commission-free account – 1.7 pips on EUR/USD, 0.5 on USD/JPY, 0.7 on EUR/USD, and 0.7 on AUD/USD.
  • The broker adds negative balance protection and waives withdrawal fees for high-volume traders.
  • There are no commissions, deposit or withdrawal fees, or account fees on CFD accounts but withdrawals to overseas bank accounts incur an AUD $20 bank handling fee.

 

Additional Trading Fees

When trading financial instruments such as forex, traders can expect that overnight fees or swap fees may be charged when positions are held for longer than a trading day.

DMM FX makes provision for an Islamic Account for Muslim traders who follow the Sharia Law, and thus prohibited from earning or paying interest where the holding of open positions is concerned.

The DMM FX support team can also advise whether spread betting is allowed and what spread betting fees could apply.

 

Broker Fees

DMM FX adds negative balance protection and waives withdrawal fees for high-volume traders.

There are no commissions, deposit fees or withdrawal fees, or account fees on CFD accounts but withdrawals to overseas bank accounts incur an AUD $20 bank handling fee.

Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

 

Pros and Cons

✔️ PROS ❌ CONS
Demo account can be opened Although regulated, no compensation scheme is available
MetaTrader platform available to traders No option to open an Islamic or swap-free account
Regulated by the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Services Agency (FSA) in Japan. Only one trading account available to traders
The broker offers tight spreads
The web interface is user-friendly.

 

 

You might also like: DMM FX Minimum Deposit

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You might also like: DMM FX Account types

 

FAQ’s

 

How many instruments can I trade with DMM FX?

You can trade several different instruments with DMM FX, which include the following:

  • Commodities
  • Precious metals
  • Oil
  • Indices

 

 Which platforms are supported by DMM FX?

DMM FX provides the following popular trading platforms:

  • MetaTrader 4
  • ChartIQ
  • WebTrader

 

Does DMM FX offer leverage?

Yes, DMM FX offers maximum leverage of up to 1: 600.

 

What spreads can I expect with DMM FX?

DMM FX offers spreads of 1.7 pips on EUR/USD, 0.5 on USD/JPY, 0.7 on EUR/USD, and 0.7 on AUD/USD.

 

Does DMM FX charge commission?

No commission is charged.

 

Are there additional charges on the Islamic account?

DMM FX does not offer an Islamic Account. Some brokers charge extra fees on Islamic accounts – are either in wider spreads, additional commissions, or administration fees to make up for money that they lose with not charging overnight fees.

New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.

 

Is DMM FX regulated and by whom?

DMM FX is regulated by the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Services Agency (FSA) in Japan.

 

Is DMM FX a recommended forex trading broker for experts and beginners?

DMM FX offers the best trading environment for most types of traders, from new to experienced traders.

 

What is the overall rating out of 10 for DMM FX?

7/10.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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