Destek Markets Review – All The Key Facts And Potential Problems
The first thing important to clarify is that ownership of this trading brand currently belongs to Destek Markets Ltd. This company is incorporated in Saint Lucia.
Even though the broker is using previous names that were regulated, that is not necessarily the situation with this one. But to find out all irregularities and potential problems, read out Destek Markets review carefully.
|Regulated By:||No regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Registered In:||Saint Lucia|
|Trading Platforms:||Proprietary platform|
|Deposit Bonus:||Not available|
|Trading Assets:||Cryptos, Forex, Indices, Commodities, Shares|
|Free Demo Account:||Available|
|How To Withdraw From This Company?||Even though the broker is somehow connected to a regulated entity, they have all the conditions of an offshore unregulated broker. Therefore, you can expect potential withdrawal problems. If that happens, don’t hesitate to contact our refund experts for assistance.|
Legal Info: Is Destek Markets Legit?
Firstly, the company claims to be operated by Destek Markets UK. However, this entity appears to be registered in St. Lucia, not the UK. Luckily, if you look at the FCA register, you will see all the previous names of this broker. And the only one currently active is Britannia Global Investments Limited.
Even if the broker is FCA-regulated, their trading conditions don’t comply with those regulations. On top of that, the company doesn’t have any other Tier 1 license, such as BaFin, ASIC, or CFTC.
Who Are Destek Markets’s Clients?
Actually, Destek Markets T&Cs seem to be updated in 2019, probably stolen from a legitimate firm. However, whois.com reveals that their current domain is registered in 2023. In any case, for the time being, they are mainly working with traders from:
- United Kingdom
But let us know what’s your experience with this broker and if you had any issues with them. After all, if you need refund advice, you can contact us directly.
Leverage, Commissions, Spreads, Fees, and Taxes
The first thing you must remember is the leverage. All UK and FCA-regulated brokers must comply with regulations and provide a maximum of up to 1:30. And yet DestekMarkets allows up to 1:500.
With spreads from 1.5 pips, they are around the industry average. However, they don’t have any fees or commissions, except for VIP service which includes better conditions but a $7 commission per lot.
Destek Markets Trading Features
For a so-called regulated broker, they have quite a poor platform choice. Instead of reliable third-party MetaTrader or cTrader, they provide proprietary apps.
But instead of a trusted download option, they only provide web trader. Even though they advertise ultra-fast execution and NDD intervention, there are already too many irregularities about the broker.
Available Trading Assets
Tradeable assets with Destek Markets are the same as with any other broker. You can choose from 5 top classes, such as:
- Forex – USD/JPY, AUD/NZD
- Commodities – palladium, cotton
- Indices – DAX30, FTSE100
- Shares – Netflix, Walt Disney
- Cryptos – BTC, ETH
Another discrepancy with this broker is their account types. Practically, with a higher deposit, you get a bit lower minimum potential spread. Anyway, the options are:
- Micro – $1.000
- Standart – $5.000
- Raw – $20.000
- VIP – Unknown
Mobile Trading App
Here comes the interesting part. The broker seems to mislead traders about its mobile app. There are icons of trusted stores like PlayStore and AppStore.
Their app doesn’t exist there, and those website options are not functional. Which is not a sign of a trusted broker. We invite you to read our FxxTrader review as well to learn more tips.
According to the company, a demo account is available. But after all the irregularities and uncertainties, that would be a risky experience. Instead, you can find more transparent Tier 1 licensed brokers and try your luck there.
Education with Destek Markets doesn’t remind you of a regulated broker. They only provide basic articles about trading and e-book recommendations. But nothing they can offer as the company. You’d have to look elsewhere if you were looking for live sessions or webinars.
Destek Markets Withdrawal
According to the company, there are two withdrawal options. Either you choose bank wire or card transfer. The commission for any type of withdrawal sits at $0. However, the bank may charge you additional fees.
A minimum withdrawal for wire is $250, while for card transfer, it is only $20. Also, card transfers are processed within 1 day, while wire transfers can take up to 7 days. But we suggest you read their withdrawal policy carefully before investing.
You can choose phone, mail, and web question forms for customer service options. Destek Markets support should be available 24/7.
Without transparent reviews, it’s hard to determine the quality of their customer representatives. But read our Axiom Trade review to learn how to diversify high-quality services from poor ones.
Key Information To Consider About Destek Markets?
If we assume that the broker is regulated, their conditions don’t comply with it. If you believe they are not regulated, then it’s even worse. In any case, there are too many irregularities where potential problems can pop up. Instead, you can take your time, be patient, and choose your broker wisely.
But, what is important to know is that our refund team can advise you about any withdrawal problems. The first consultation is free, and you don’t have any obligations. Ultimately, the choice is yours. If any broker makes you a withdrawal problem, don’t hesitate to contact us.
What Is Destek Markets?
Destek Markets is an offshore brokerage registered in Saint Lucia with unclear regulatory status.
Is Destek Markets Legit?
Destek Markets appears to be legit, but there are too many discrepancies that can cause you potential problems. If that happens, contact our chargeback experts for help.
What Are The Destek Markets Trading Platforms?
Instead of trusted third-party software, the company only provides a web-based platform with limited functionalities. On top of that, without mobile apps available.