DLSM Review 2026

Trust

Licensing Info

How Does DLSM Protect You?

I reviewed the broker’s client agreement, execution policy, and risk notice to examine how DLSM protects its clients. These and other files can be accessed from the ‘About’ section of the website, under ‘Legal Documents’.

Here is what I found out about the broker:

To learn more about the most important safety mechanisms and how they apply to you, check our dedicated guide on client protections.

Stability and Transparency

My first step was to check DLSM’s background. I reviewed the broker’s website and social channels, including its LinkedIn profile, and learned that the company is headquartered in Sydney, Australia, but operates out of Vanuatu. It was established in 2023 and employs 10-50 professionals, as listed on LinkedIn. All of this means that the broker is relatively new and still growing.

I checked DLSM’s certificate from The Financial Commission and confirmed the broker’s participation in the resolution scheme. This means that in cases of conflict of interest, The Financial Commission may intervene and weigh in on the situation.

The one major transparency issue with DLSM is that the broker does not disclose the percentage of traders who lose money with it. This is a standard industry practice among regulated brokers that illustrates the real dangers of trading leveraged products.

On the plus side, I found that DLSM warns that you may lose more than your initial deposit, which is important to note given that the broker does not offer negative balance protection.

Is DLSM Safe?

Despite some transparency issues, I found DLSM sufficiently safe to trade with due to the following factors:

• It is regulated by the VFSC
• Client funds are kept in segregated accounts
• Its clients are protected by up to EUR 20,000 under The Financial Commission

Fees

DLSM Trading Fees

DLSM Spreads

I tested DLSM’s spreads on Standard and ECN accounts on 21 April 2026 during the London and New York market openings. I used live accounts on the MetaTrader 5 platform. Here are my results:

Standard Account: The spreads I took down using the Standard account beat the industry average for most assets I tested, except for the EURUSD and crude oil. The 1.4-pip EURUSD spread exceeded the industry average of 1.15 pips marginally, but the 2.3-pip spread (average) for the GBPJPY beat the benchmark. This makes DLSM an attractive choice for forex traders interested in FX crosses.

Index, crypto, and metal spreads were also kept tight, while the $0.068 (average) WTI spread shot above the benchmark.

ECN Account: I observed similar tendencies on the ECN account. The EURUSD came in slightly higher than the industry benchmark, at 0.15 pips on average, while the GBPJPY spread was very tight. Stock, index, and crypto spreads were better than those with most other brokers, while the gold spread of 11 cents was in line with the industry average.

DLSM Commissions

In addition to spreads, DLSM charges round-trip commissions on both accounts. A round-turn (also round-trip) commission is a fee you pay to open and close a full-sized contract (100,000 units).

Standard Account Commissions

DLSM charges a $5 commission on stock trades on its Standard account, exceeding the benchmark. But even with this commission rate, the cost of trading stocks with DLSM is still lower than with most other brokers.

ECN Account Commissions

On the ECN account, the $4 commission on currency pairs and metals beats the industry average, while the $4 commission on energies, indices, and cryptocurrencies, and the $2 on stocks exceed it.

DLSM Swaps

The values listed below are for one full base currency contract (100,000 units). Here are my results:

The DLSM swaps I captured on the most popular assets were better than the industry average, from the $6.98 EURUSD swap long to the $12 swap long on Bitcoin. The one exception to the rule was the massive $1101 Dow 30 swap long, which came in nearly 13 times higher than the benchmark.

Please note that swaps fluctuate over time, subject to changing interest rates.

Are DLSM’s Fees Competitive?

To help you understand how much you’ll pay to trade each instrument, I calculated the cost of trade using the formula: spread rate x pip value + commission rate (swaps are not included).

DLSM’s Standard account consistently beat the industry on most major assets I tested. The only exceptions to this were the $14 trade cost for EURUSD and the $68 trade cost for crude oil. The one came in only marginally higher than the industry benchmark of $11.54, while the other was affected by external factors like the US/Iran war, straining the global energy supply.

The ECN account performed even better than the Standard account. It featured better-than-average costs for instruments across all major classes, except crude oil. Once again, this was owing to external factors.

Given that both the Standard and ECN accounts feature the same $10 deposit requirement, but the ECN account also has better pricing, I would recommend it to both casual and high-volume traders.

DLSM Non-Trading Fees

Inactivity Fee: $30 applied to accounts with less than a $500 balance that have been inactive for six months. The fee is charged monthly until account activity resumes or the balance drops to zero.

Deposit and Withdrawal Fees: No internal fees, but third-party processing fees (e.g., bank wire charges) may apply.

Platforms and tools

MetaTrader 5 Desktop

A classic outlook. MetaTrader should be given credit for popularizing a design that is replicated by many other trading platforms. It features a broad charting area occupying the middle section of the screen, a comprehensive tools panel at the top, and watchlists and navigator screens on the left-hand side.

Multiple functionalities. My favorite thing about MetaTrader is that it accommodates a range of trading styles. Beyond day and swing trading, the platform supports automated trading via Expert Advisors (EAs), scalping via one-click trading, and depth-of-market (DoM) trading. You can even use the built-in strategy tester to assess your strategies’ performance and tweak their parameters.

Practical insights. I also appreciate MetaTrader for its vast library of practical guides, educational articles, and platform tutorials. From the ‘Help’ tab, you can access dozens of materials on how to use various technical indicators, drawing tools, Expert Advisors, etc.

Outdated charting capabilities. The biggest drawback of MetaTrader is that its charting is stuck in the past and can’t compete with more modern trading platforms, such as cTrader and TradingView.

Availability & Features

The MT5 platform by DLSM is available for Windows and Mac users and supports 39 languages, including English, Spanish, German, Arabic, and Chinese.

MT5 features include:

• Price Alerts: Set alerts when an instrument hits a specific price — ideal for spotting trade entry opportunities.
• Customizable Watchlists: Monitor your favorite trading instruments from your custom-built watchlists.
• One-Click Trading: Enter trades instantly at market price — perfect for scalpers or fast-paced traders.
• Chart Trading: Place and manage orders directly from the chart, including entry points, volume, stop-loss, and take-profit levels.

Charting & Analysis Tools

MT5 is loaded with analytical tools, including:

• 38 built-in technical indicators: From trend-following to oscillators and volume-based tools. You can use these to spot price trends and ranges and to assess their strength.
• 24 drawing tools: Including Fibonacci retracements, Elliott Waves, and more for technical pattern spotting. I use tools like the Fibonacci retracement levels to map out major support and resistance levels within a price trend.
• 21 timeframes: Great for multi-timeframe analysis. MT5 offers one of the largest time-frame selections of any platform. Typically, I use higher timeframes (above 4H) to determine the market’s general direction and smaller timeframes (below 1H) to spot viable entries within the broader trend.
• 3 chart types: Line, bar, and candlestick options let traders view price action in their preferred format. Personally, I prefer candlesticks because they provide a more comprehensive picture and can help identify potential trend reversals. For example, when found at the top of a bullish trend, a Hammer candle could indicate a bearish reversal. Alternatively, an Inverted Hammer at the bottom of a downtrend may signal a possible bullish reversal.

Order Types

MT5 offers four execution modes and covers all the core order types that most traders need:

• Market Orders: Instant execution at the best available price — ideal for quick entries.
• Limit Orders: Target a specific price level for entry, though execution isn’t guaranteed.
• Stop Orders: Protect open positions with predefined risk levels. Stop-loss orders automatically convert into market orders once triggered.
• Stop-Limit Orders: Unlike classical stop orders, when the stop price is reached, the order turns into a limit order, which guarantees precise price execution.

MT5 App

I tested the DLSM MT5 app on my personal Google Pixel phone running Android.

The app supports most of the platform’s functionalities across the desktop and web versions, such as watchlist customization, setting price alerts, placing market, limit, and stop orders, and more. This makes the MT5 app a convenient tool for staying connected to the market and adjusting your positions on the go.

You can place market, limit, and stop orders, as well as manage position size and risk directly from the app. That said, the charting experience still feels a bit cramped, and price action can be hard to scale and analyze comfortably on a small screen.

DLSM GO

The DLSM GO app is a major improvement over MT5, offering greater functionality and a sleeker design. I used the app to place a short order on EURUSD per a Trading Central signal. I accessed the signal directly from the DLSM app, and it flagged a potential short entry at 1.17379. In the next 24 hours, the price had indeed dropped to 1.16940.

The other perk of DLSM GO is its TradingView-powered charts. Price action is more fluid and easier to scale up and down, despite the app running on low-resolution devices.

I found out that the app does not have any technical indicators, but it features 16 drawing tools, 14 timeframes, and 2 chart types. You can use the app to place market, limit, and stop orders, to configure your watchlists, and place price alerts.

Copy and Managed Trading

I also learned that DLSM offers comprehensive social and copy trading services. Its custom-built environment connects signal providers and signal followers. To access it, you only have to pay a one-time registration fee of $1. Then, signal followers can choose which strategy/ies to replicate. They may have to pay a subscription fee to the strategy provider.

Additionally, DLSM has integrated the HUBx software to help fund managers manage their clients’ portfolios with ease. Using the system, they can instantly place similar orders across multiple accounts.

DLSM Execution

Execution Model

DLSM operates as the principal (market maker) to client orders without a dealing desk. It sells against buying orders and buys from selling orders.

Execution Speed

I used the MetaTrader 5 platform to measure DLSM’s order execution speed. I placed several orders on the EURUSD, gold, crude oil, the Dow Jones 30, and Bitcoin in quick succession on 21 April, just after the London market opening. I used a demo account for my hands-on tests because I did not deposit real capital to my live account.

The fastest speed I recorded with DLSM was 136ms on the Dow Jones 30 index, which still came above the benchmark of 100ms. Generally speaking, we consider speeds below the 100ms threshold as sufficient for high-pace trading, such as scalping, because they reduce the risk of negative slippage.

Note that the speeds I recorded are only illustrative. You may experience faster or slower speeds with DLSM, depending on your internet speed, physical location, and other external factors.

Tradable instruments

What CFDs Can You Trade With DLSM?

Customer support

Customer Support Channels

Customer Support Test

I contacted DLSM via live chat on 22 April at around 09:00 CET. An agent connected within 30 seconds. Initially, I asked them about DLSM’s office locations and regulations, and they explained that the company had offices in major regions of the Asia-Pacific, but the office locations were confidential.

The agent’s answers seemed strange to me for two reasons. First, it makes no sense for a client-oriented broker to have confidential offices, and second, the online customer support agent advised me to contact DLSM’s online customer support.

I then asked the agent about DLSM’s base currencies, which seemed to confuse them at first. When I clarified my question, the agent said that the broker offered USD and EUR as base currencies. However, according to DLSM’s website and my own experience with setting up an account with the broker, you can only open an account in USD.

Lastly, I inquired about DLSM’s account maintenance and inactivity fees. This time, the agent’s responses were better-informed. They explained that an inactivity fee of $30 is applied to dormant accounts; however, they failed to mention the waiting period after which an account is considered inactive. From my own research, it is 6 months.

I conducted my second test on 22 April at around 15:00 CET. An agent again entered the chat within 30 seconds of me opening it. I began by asking whether DLSM provides guaranteed stop orders. The agent wasn’t sure what that meant, so they asked me to clarify, which was a good signal. Once they understood what I meant, they responded by saying no.

I then asked about DLSM’s social trading service and whether it featured any servicing fees, to which the agent said that there is a one-time registration fee of $1 charged by the broker. The agent also clarified that I may have to pay a subscription fee to the trader I choose to follow.

Deposit and withdrawal

Note: I did not deposit or withdraw any real funds for this review, so I wasn’t able to check the real processing speed with DLSM.

How Do You Deposit Money with DLSM

How Do You Withdraw Money with DLSM

I noticed that the number of available withdrawal options is markedly lower than the number of deposit methods, which may limit some traders. Moreover, the available currencies for local bank transfers and e-wallet withdrawals are also narrower.

Account types and terms

How to Open an Account With DLSM

To open an account with DLSM, follow these simple steps:

1. Click ‘Register’ at the top-right corner of the main page.
2. Provide your name, email, and phone number.
3. Choose your country of residence and portal password.
4. Proceed to account verification.
5. Confirm you’ve read DLSM’s privacy policy.
6. Upload proof of ID and proof of address to verify your account.
7. You can use your national ID, driving license, a bank statement, or a utility bill.
8. Configure the parameters of your trading account.

DLSM Account Types

I noticed that the two DSLM accounts offer a pretty similar set of features. The main distinguishing factor is their pricing mechanism: the Standard account features floating spreads and zero commissions, while the ECN account charges both raw spreads and commissions. Both accounts feature the same deposit requirements ($10), margin calls (80%), and stop-outs (40%).

What Leverage Does DLSM Offer?

The maximum retail leverage with DLSM is 1:1000, which is normal for an overseas broker but much higher than that offered by brokers authorized by top-tier regulators. With a leverage of 1:1000, if you use just $100 to open a trade, you would be able to open a position worth $100,000.

A word of caution: Trading on margin with high leverage is extremely risky and may result in significant losses.

DLSM Restricted Countries

DLSM does not accept traders from the United States, North Korea, Iran, or any other country or jurisdiction where trading is prohibited by law.

Research

Economic Calendar

The economic calendar is the bread and butter of market research. It highlights upcoming market events, such as inflation report releases and speeches by prominent figures, that could stir price action. News traders use it to prepare themselves for such events by positioning themselves before or immediately after their releases.

You can access DLSM’s calendar and the rest of its research content from the ‘Trading Tools’ segment of the client area.

Featured Ideas

I found the featured ideas by Trading Central the most useful bit of market research currently available with DLSM. You can use them to learn about emerging setups, such as the descending channel breakout play on USDHUF shown below. Notice the recent uptick in buying pressure, as indicated by the RSI, just as the price tests the upper boundary of the channel.

While there is great value to such signals, especially for day traders, I consider the lack of any supporting fundamental analysis a major drawback. There is virtually no explanation of why the market behaves as it does – only a description of where it might be headed next.

Market Buzz

The TC package also includes the Market Buzz sentiment gauge. It tracks recent mentions (over the past 24 hours) of popular assets, such as EURUSD, Apple stock, crude oil, and more. By keeping pace with market hype, you can forecast potential upsurges in volatility on certain assets when those are mentioned a lot more than other assets from the same sector.

Education

DLSM’s educational blog is available from the ‘Insights’ tab on the website. I checked several of the 130 articles. One of the articles I looked into was dedicated to price trends – what they are, how they form, and how you can trade them. It was nicely structured and easy to follow. The article also broke down the different stages of the Wyckoff cycle (Accumulation, Re-Accumulation, Distribution, and Re-Distribution), though for some strange reason, the name Wyckoff was not mentioned. Still, the article offered some great insights into how price trends emerged, and the information was supported by helpful visuals.

The bottom line

Founded in 2023 and headquartered in Sydney, DLSM is a forex and CFD broker licensed and regulated by the VFSC of Vanuatu. It offers 121 tradable instruments at very competitive prices. For example, I recorded a $11 cost of trade for Apple stocks vs the industry average of $31.78.

You can trade on MetaTrader 4 and 5, as well as the DLSM GO proprietary app. The two trading stations accommodate different trading styles – from day and swing trading to algo trading – but have weak charting capabilities. I also found out that DLSM’s order execution speeds start from 127ms, and the broker does not provide VPS hosting.

DLSM offers the Trading Central package, which includes detailed technical analyses and featured trading ideas. However, the broker does not offer any in-house market research, and its educational offering is rather limited.

All things considered, I found DLSM a great pick for cost-conscious traders looking for competitive prices and affordable accounts with low barriers to entry from $10.

What I Did not Test

Please note that for this review of DLSM, I did not:

1. Use live accounts to test DLSM’s order execution speeds;
2. Upload proof of ID and proof of address to fully verify my DLSM’s live accounts;
3. Deposit or withdraw real capital into or from DLSM.