Destek Global Ltd is authorized and regulated by the Securities Commission of The Bahamas under license number SIA-F191. The company ensures that all client funds are held in segregated accounts.
Trading assets include 37 currency pairs, 4 cryptocurrencies, and 3 metals. The maximum leverage can be 1:200 and the average spread for the EUR/USD pair is 1.6 pips in the Standard account.
Customers can trade through the widely used MetaTrader 4 (MT4) platform. MT4 is still one of the most popular trading terminals, allowing automated trading to be easy and personalized. It is suitable for all types of traders and provides a wide range of analytical tools that help determine the exact moments of entry and exit from the market. You can trade directly from the chart window or receive trading signals. MT4 is available as a desktop version and as a mobile app for iOS and Android devices.
There are four types of trading accounts that differ mostly in the initial deposit amount and the offered spread. The Standard account requires USD100 to open and the average spread for the EUR/USD pair is 1.6 pips. You must put at least USD1,000 into the Gold account to receive spreads starting from 1.2 pips. The VIP account requires an investment of USD5,000 and provides spreads as low as 0.8 pips. The last type is called the ECN account where spreads start at 0.2 pips at the expense of a commission of USD6/lot. All accounts can be funded via bank transfer and the minimum amount is USD20.
The Terms of Business document shows that in relation to any transaction, the company will effect such transaction as principal. The client shall relative to the company, enter into transactions as a principal. This means that Destek Capital acts as a market maker and the conflict of interest between the client and the company exists. The same document also reveals that the company platform is designed with safeguards to prevent the client from incurring a negative balance when trading under normal market conditions. This means that all retail clients are covered by negative balance protection and If the client incurs a negative balance through trading activity on its account, the client should inform the company’s trade audit team immediately. This team will evaluate the inquiry and report back to the client with its outcome, which is based on its sole and absolute discretion. So, the final decision belongs to the company.
The document also says that the company will try to execute Limit Orders, Stop Orders and Market Best Orders as soon as practicable but market conditions can affect the time it takes to execute such orders and all orders are executed in due turn. The company cannot guarantee that a Limit Order or a Stop Order will be executed even if the limit or stop price is reached. Market conditions may result in the execution of a Stop Order being at a price above or below the stop price. This means stop orders are not guaranteed and all orders are subject to slippage.
In general, the company has only offshore regulation and despite its announcement that the client’s money is held in a separate account, the regulator does not require the company to do so. Despite the relatively good trading conditions, be careful in your relationship with this company, as the protections you have are not the same as those provided by the European authorities for example.