WikiFX Review: Is DigibitsFX reliable?

Concerning DigibitsFX

DigibitsFX is an offshore forex broker founded in 2021, The physical address of this broker is Suite No 305 Griffith Corporate Centre P.O.Box 1510 Beachmont Kingstown Saint Vincent and The Grenadines. Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Leverage

When it comes to leverage, DigibitsFX permits traders to use the leverage of up to 1:400, which is significantly higher than the levels regarded appropriate by many regulators.

Leverage of up to 1:400 has been offered by DigibitsFX. High leverage can amplify benefits as well as losses. Newbies need to understand the potential risks.

Regulation

WikiFX has assigned it a regulatory status of “No License” and a fairly low rating of 1.16 out of 10.

Account Types

Spreads & Commissions

Spreads and commissions are set in the end by trading accounts. The Standard and VIP accounts offer a commission-free trading environment, accompanied by average spreads, starting from 1.8 pips and 1.4 pips, respectively. The Raw account holders can enjoy competitive spreads from 0.0 pips, yet with a certain amount of commission charged.

Deposit & Withdrawal

The minimum deposit amount varies depending on different payment options, ranging from $100 to $500. Funds will instantly arrive in your account after payment details are processed, but deposits via Bank Transfer take 2-5 business days to arrive. No deposit fees are charged except for Neteller, which asks for a service fee of 1.8%.

Concerning Withdrawal, the minimum withdrawal is $100 or the equivalent amount in your base currency. Digibits FX says it does not charge any fees for the external transfer of funds from clients forex accounts except for credit/debit card deposits, for which a 5.5 % (min 10 USD) charge is applied to cover a portion of the total charges made by the card processors involved in the transactions.

DigibitsFX on Social Media Platform

DigibitsFX has its official accounts on both Twitter and Facebook.

Conclusion

Although WikiFX does not receive exposure related to this broker yet, it does not mean you can trade with this broker without considering the risk as WikiFX has given a low score to this unregulated broker. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.

Click on DigibitsFX' WikiFX page for details