Pros & cons of Destek Global broker

Destek Global Fact sheet

Destek Global is regulated and licensed in the Bahamas by the Securities Commission of The Bahamas (SCB). In addition, the broker has segregated accounts and is part of the investor compensation fund. 

If a trader incurs losses higher than their balance, resulting in a negative balance amount, the broker’s team will review the case and decide if they are going to set your account back to 0. So the client is at the broker’s discretion and traders should trade with good risk management. So there is no real negative balance protection per se.

Four account types are offered by Destek Global, and these are named STANDARD, GOLD, VIP, and ECN. Each account type offers something different from the others and the Standard account is the cheapest to get going. The minimum deposit is 100 USD. The spreads start from 1.57 pips on EUR/USD on the Standard account, 1.17 for Gold, 0.77 for VIP, and 0.17 for the ECN account. There are no commissions on the first three accounts, but there are commissions on the ECN one. The minimum lot size allowed is 0.01 for all account types and leverage is 1:200 for all accounts except ECN. The leverage on the ECN account is capped at 1:100. Hedging and automated trading via Expert Advisors (EAs) are allowed on all accounts. These spreads are very competitive, especially on VIP and ECN accounts. There are different minimum deposit requirements for each account type, with Standard accounts starting from 100 USD (but a minimum of 150 is possible through bank transfer), $1,000 for the Gold account, $5,000 for VIP accounts, and $10,000 for the ECN account. 

Pros & cons of Destek Global account types

Comparing Destek Global fees with other brokers

Destek Global fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Destek Global fees compared to CM Trading fees

Destek Global fees compared to plus500 fees

Destek Global fees compared to XM fees

Destek Global fees compared to AvaTrade fees

Destek Global fees compared to Capital.com fees

MetaTrader 4 (MT4) is offered by Destek Global for both desktop and mobile devices. The MT4 platform is a well-known advanced trading software that has all the tools necessary to analyze price charts and control the trading process. Destek Global’s mobile MT4 app provides advanced trading capabilities, including numerous inbuilt indicators to trade on the go, and can be accessed with the same credentials as on a desktop.

There are abundant educational materials of all sorts on Destek Global’s website including articles, webinars, trading courses, and video tutorials. There is a trader’s glossary to learn all the basic terms and slang of Forex markets. There are no trading tools or market research available. It would be nice if Destek Global had some market research tools to assist its traders, but as of now, such tools are lacking. 

Support is available at Destek Global 24/5 and there is no live chat available. The main way to get support at Destek Global is by phone, email, and the ability to leave a message online or visit their office. There are emails available for each department to directly mail them in case some issues arise. These departments include sales, inquiries, marketing inquiries, press, and compliance. 

Being regulated under Bahama’s SCB, Destek Global is a Forex and CFDs broker with 49 total trading instruments. The minimum deposit requirements start from 100 USD, but a wire transfer requires a minimum of 150 USD. The deposits and withdrawals both require about 3-5 business days to be processed. Destek Global offers 4 different trading account types, namely Standard, Gold, VIP, and ECN, each of them with different spreads and required minimum deposits. Support is available through phone calls, email, or online forms. Additionally, it is possible to visit the broker’s office in the Bahamas. Educational materials are excellent, but trading tools are limited.