Also called Direct Trading Technologies Ltd (UK), Direct TT is a forex broker offering various trading opportunities through four types of accounts. Registered in New Zealand, Direct TT is one of the Financial Services Company registered, authorized, and also regulated by the Financial Conduct Authority. Direct TT’s forex activities are regulated by the Vanuatu Financial Services Commission based in the Republic of Vanuatu. This broker is also registered/ regulated by the Financial Markets Authority, FMA, and is listed as part of the Financial Services Providers Register.
Before we look at some of the trading opportunities offered by the company, it is important to note that New Zealand was, for the longest time, the hotspot for forex brokers, thanks to the ease of registration. Over the years, however, the local regulators of financial services in the country have tightened trading conditions. The implementation of the Financial Markets Conduct Act forced all forex brokers registered in the country to follow strict rules and meet specific standards to offer trading services. For example, the brokerage firm has to hold a minimum net holding of $1 million, as goodwill. This, therefore means that Direct TT is one of the forex brokers you can trust.
Direct TT’s Market
It would appear that Direct TT forex brokers are focused on the Middle East market largely given their representatives offices span across Saudi Arabia, Lebanon, and Kuwait. To meet the needs of these markets, the broker has some of its marketing material in Arabic. Along with the Middle Eastern countries, the broker also has a presence in at least six other countries.
The broker targets the forex and CFDs markets.
Direct TT Review – Features
It has recorded over 1,000,000 executed trades and at least 10,000 serviced clients. The reason for this level of success comes from the broker’s long list of trading opportunities. Its top features include:
The company has four main account types and a demo account. The account types include the Mini, Standard, VIP, and the ECN account. While all the accounts give traders maximum leverage of 1:200, the deposit amount varies as does the spread. The minimum deposit is $500, $2000, $10,000, and $25,000 for the four respective accounts. regarding the spreads, the Mini, Standard, and the VIP accounts have an average spread of 3 pips, while the ECN account feeds at least $10 for every lot.
Minimum trading amount: as mentioned above, the minimum deposit varies depending on your selected account with $500 as the minimum for the Mini account and $25,000 as the minimum for the ECN trading account. Unfortunately, this minimum is quite high, compared to the minimum deposit given by other brokers. Note, however, that you need a strict risk management strategy before you start trading.
Commissions, Spreads, and Leverage
Direct TT offers high spreads compared to other traders and the industry’s current state. As mentioned above, the average spread for every account is 3 pips. Most other brokers have spreads ranging from 1-1.5 pips. There are no mentions of commissions.
Regarding the leverage, the broker offers a maximum leverage of 1:400. As absurd as it sounds, this is almost the norm in the world of retail forex. Note, however, that such high leverage can be devastating if you don’t understand the risks involved in such high-leverage trading environments.
Direct TT’s runs its trading activities on the acclaimed MetaTrader 4 (MT4) platform, and you can trade on Direct TT from your PC, smartphone, multiterminal, on the web, on Mac computer, and other iPhone and Android devices.
A look at MT4 for PC reveals that the platform gives traders access to at least 75 instruments which include CFDs, Forex, and cryptocurrencies. It has single login access. Once you’re logged in, you can enjoy the full range of expert advisor functionalities, the one-click trading option, hedging, as well as the technical Analysis tools which come with charting tools, and indicators. The platform also comes with three types of charts.
These functions are available across different devices and operating systems.
Direct TT also offers trading on the Smart Social Trading platform, the leading online and mobile social trading. This platform gives traders access to at least 300 strategy providers, various trade/ risk allocation strategies, and you can automatically adjust your risk’s size as well as the size of the traded lots. You also get to set your maximum acceptable loss. The social platform also offers fast deposits and withdrawals, and it gives you access to dedicated support.
To enhance your trading experience, you get trading tools and resources like research, trading signals, and unique tools like the historical volatility and Pivot points.
The Direct TT’s DTT Signals, Trend-Catcher, and the DTT Plus are tools that will guide you through trading.
Since the company doesn’t have a demo account that is easily accessible, you will need these resources before you start trading.
You can contact Direct TT for a callback. The broker is yet to launch its live chat service.
This broker offers rather limited access to payment methods which include Credit/ Debit cards, Bank transfers, and CashU.
- MT4 Trading platform
- Several trading instruments
- High leverage
- Multi-device accessibility
- Social sharing Trading
- High minimum deposit
- Limited payment methods
- Few support services
A forex broker operating from New Zealand, Direct TT is regulated by the FMA. Its trading opportunities are not, however, competitive with the high leverage, high minimum deposit, and the high spreads.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK