Destek Markets Review 2018

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Destek MarketsReview

Destek Markets Review

Destek Markets is a London based online forex and CFD broker that is owned by the Destek Group. Their office is located at 100 Fenchurch Street, London. Although the broker was only established recently in 2017, the Destek Group which started in Turkey has a long operational history stretching back as far as 1992. To offer their clients a superior trading experience, Destek Markets uses a combination of the latest technology and personalized service. The broker also offers a wide range of trading assets with an extremely competitive spread. For traders who require assistance, and around the clock customer support team is on hand to render assistance throughout the entire trading week.

Destek Markets Video Review

Destek Markets Regulations

As a financial services provider based in the heart of the financial center of London, Destek Markets is regulated by the UK’s Financial Conduct Authority (FCA) under the registration number FRN 739949. Although originally a Turkish based company, the management of the Destek Group decided to operate from London as the city is also considered the financial center of Europe. In addition, the regulatory environment in the UK is also one of the strictest for the region. Apart from the legal protection offered by the regulatory oversight from the FCA, traders at Destek Markets can rest assured that their deposited funds will be safe as the broker is also a member of the Financial Services Compensations scheme (FSCS). Under this scheme, each Destek Markets’ client can file a claim for compensation for up to £50,000 should ever Destek Markets run into insolvency issue.

Destek Markets Reliability

Normally, it is difficult for a newly established broker such as Destek Markets to be able to convince traders of their reliability. This is mainly due to the fact that newly established brokers lack the operational history to judge their performance by. Nevertheless, this is not the case with Destek Markets as the Destek Group has an operational history that spans over 25 years. A further assurance of Destek Markets’ reliability is the fact that that the broker is also a regulated entity under the jurisdiction of the FCA, one of the most highly regarded financial regulatory agency in Europe.

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Destek Markets Trading Platforms

The mainstay of Destek Markets trading platform is the popular MetaTrader 4 or MT4 trading platform. User-friendly and highly customizable, the MT4 platform is well liked by both beginner and experienced traders. Hence, it is not surprising to find that the MT4 platform has been adopted by the majority of the forex and CFD brokers in the industry. The platform comes integrated with a wide selection of trading tools designed to enhance the trading abilities of traders. It has a comprehensive charting package and a wide selection of technical indicators. Another special feature of the MT4 platform is its ability to support automated trading. With software add-on programs called “Expert Advisors”, a trader can program the MT4 to trade based on the trading parameters that he has specified.  Specifically, the features of the MT4 platform include:

  • 9 time frames
  • Ability to trade straight from the chart
  • Automated Trading
  • Built in MQL4 programming language
  • Detailed charting
  • Flexible trading
  • In excess of 50 technical indicators
  • Support copy and signal trading
  • Support multiple types of market orders

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Understanding the fact that different traders have different preferences, in terms of the devices used for trading the financial markets, Destek Markets has ensured that their MT4 platform is capable of being used on all devices.

Mobile Trading

Given the fact that nearly everyone nowadays has a smartphone, Destek Markets has also had the foresight to provide a dedicated MT4 mobile trading app for iOS and Android powered devices. With the mobile trading app, traders are no longer restricted to trading the financial markets on their desktop computers.

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Destek Markets Trade Types/Instruments

In terms of trade types, Destek Markets traders have a choice of trading the spot forex market or CFDs for indices and commodities. For spot forex, you have a choice of more than 40 pairs to choose from. These currency pairs can be traded with leverage as high as 1:200. As for CFDs products, Destek Markets’ traders have a selection of major stock indices from the Asia, Europe, U.S and African markets to choose from. There are also a dozen different types of commodities, which you can trade with. They include major commodities such as coffee, Gold, Brent Crude Oil, and Sugar.

Destek Markets Account Types

As for the choices of trading accounts at Destek Markets, you have a selection of 4 different types of trading account, Standard Account, Gold Account, VIP Account and ECN Account.

Standard Account

  • Minimum Deposit: $100
  • Commission free trading
  • Expert Advisor: Allowed
  • Hedging: Allowed
  • Maximum leverage 1:200
  • Minimum Lot Size: 0.01

Gold Account

  • Minimum Deposit: $1000
  • Commission free trading
  • Expert Advisor: Allowed
  • Hedging: Allowed
  • Maximum leverage 1:200
  • Minimum Lot Size: 0.01

VIP Account

  • Minimum Deposit: $5000
  • Commission free trading
  • Expert Advisor: Allowed
  • Hedging: Allowed
  • Maximum leverage 1:200
  • Minimum Lot Size: 0.01

ECN Account

  • Minimum Deposit: $10,000
  • Commission: Yes
  • Expert Advisor: Allowed
  • Hedging: Allowed
  • Maximum leverage 1:100
  • Minimum Lot Size: 1 Lot

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Apart from making the accounts affordable by requiring a low minimum deposit of $100, Destek Markets has also made the account opening process simple. Basically, it just requires a 3-step process for the entire account opening process to be completed.

Destek Markets Commissions & Spreads

The spreads that are applicable for traders trading at Destek Markets depend on the type of trading account that the trader is using. To give you an idea of the kind of spreads that a trader can enjoy at Destek Markets, the table below shows some of the typical spreads that the standard account can enjoy.

Instrument

Spreads (in pips)

EUR/USD 1.57
EUR/GBP 2.24
USD/JPY 1.93
EUR/JPY 2.18
XAG/USD 0.37
XAU/USD 0.41
Germany 30 1.6
UK100 1.6
US500 0.46
US30 2.4

Destek Markets Deposits & Withdrawals Options

As an international broker, Destek Markets supports all internationally accepted form of payment transfer methods. These methods included transfer by:

  • Bank Wire Transfer
  • Credit/Debit Cards
  • eWallets

These methods are applicable for both deposits and withdrawals. Understanding that the withdrawal time is of primary concern to almost every trader, Destek Markets has sought to assure their traders by trying to process all withdrawal requests as quickly as possible. Typically each withdrawal request takes up to 3 business days to process. However, it should also be noted that the entire withdrawal process can take up to 7 business days to complete due to the extra time that some 3rd party payment processors will require processing the fund transfer.

Destek Markets Bonus & Promotions

Destek Markets is offering new clients a $25 welcome bonus when opening a live account. T&Cs apply.

Destek Markets Customer Support

To ensure that their traders have satisfying trading experiences with Destek Markets, the broker has made its support service available on a 24/5 basis.

This means that should ever any trader require any assistance regarding their trading activities, he will be able to get the help that he needs regardless of the time or day. To get in touch with the customer support team, traders at Destek Markets can communicate with them through email, live chat, and the telephone.

Destek Markets Q&A

  • Is Destek Markets regulated?

Yes, Destek Markets is a regulated broker under the jurisdiction of the UK’s Financial Conduct Authority. Their FCA registration number is FRN 739949

  • Where is Destek Markets based?

Destek Markets is based in the city of London. Their office is located at 100 Fenchurch Street, London.

  • How does Destek Markets make money?

Destek Markets makes its own by charging traders a small spread on the trades they made through the Destek Markets’ trading platform.

  • How to deposit in Destek Markets account?

To deposit funds into a Destek Markets’ account, you can do so with your credit card, eWallet or bank wire transfer.

  • How to withdraw money from Destek Markets?

Withdrawal methods at Destek Markets are the same as the methods used for making a deposit.

  • How to open an account with Destek Markets?

To open an account at Destek markets, simply fill out the registration form and submit it will all the necessary documents for account verification.

  • Is Destek Markets reliable?

Yes, Destek Markets is a reliable broker. Its parent company has 25 years of experiences operating in the financial field.

  • Does Destek Markets use MetaTrader?

Yes, Destek Markets uses the MetaTrader 4 platform as its main trading platform.

  • What is Destek Markets’s leverage?

The maximum leverage provided by Destek Markets is 1:200.

  • Is Destek Markets a scam?

No, Destek Markets is not a scam. It is a legitimate broker that is regulated by the FCA.

  • How safe is Destek Markets?

Destek Markets is a safe broker as it is regulated in one of the most tightly regulated environment.

Conclusion

From our observation, we find that this broker is sincere in trying to deliver a positive trading experience for all its traders. For example, the broker’s website is designed not for its aesthetic value but rather for its functionalities. The layout is simple but all the information and functions are easily accessible. Rather than trying to overwhelm its traders through informational overload, Destek Markets has sought to make things as simple as possible. Their focus on trying to provide their traders with a positive experience can also be noted in the context of the trading platform chosen by Destek Markets. Instead of confusing traders with multiple types of trading platforms, the broker has only concentrated on providing its traders with a reliable and efficient trading platform, which is the MT4 platform. In addition, the same trading platform is also available in different versions so as to be able to support different computing platforms.

Destek MarketsOverview

Company Information

Broker DetailsInfo
Regulated byFCA
Headquarters CountryUnited Kingdom
Foundation Year2017
Publicly TradedNo
Number Of Employees50

Deposit Options

Credit Card, Webmoney, Wire Transfer

Withdrawal Options

Credit Card, Wire Transfer

Trading Account Options

Account TypeInfo
Min. Deposit$100
Max. Leverage1:200
Mini AccountYes
Demo AccountYes
Premium AccountYes
Islamic AccountNo

Destek Markets Trading Features

Suitable For

Trader LevelYes/No
BeginnersYes
ProfessionalsYes
ScalpingYes
Day TradingYes
Weekly TradingYes
Swing TradingYes

Customer Service

TimeYes/No
24 Hours SupportYes
Support During WeekendsNo

Customer Support Languages

Arabic, Chinese, English, German, Italian

Trading Services

ServiceInfo
Supported Trading PlatformsMT4
Educational ServiceYes
OCO OrdersYes
Trailing SP/TPYes
Automated TradingYes

Supported Instruments

Instrument TypeYes/No
CurrenciesYes
CommoditiesYes
CFDsYes
IndicesYes
ETFsNo
StocksNo
BondsNo

Destek MarketsPromotions

Promotion infoOfficial Site
$25 welcome bonus
Destek Markets is offering new clients a $25 welcome bonus when opening a live account. T&Cs apply.
Claim Now
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Destek MarketsUser Reviews

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  • 4.0
    Reliable Trading Platform
    Robert
  • 4.0
    Competitive Spreads
    Kai
  • 5.0
    Only $100 minimum deposit requirement
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  • 4.0
    FCA regulated Broker
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