Destek Markets Review 2024
Website: www.britannia.com
Min. Deposit: US$ 100
Leverage: 1:30
Trading Platforms: MT4
Regulation: FCA
Headquarters: UK
Founded: 1992
Regulatory Licenses:
- BRITANNIA CAPITAL MARKETS LIMITED - authorized by FCA (UK) registration no. 739949 - not active
Updated on March 22, 2024
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Britannia has established itself as a broker with a solid reputation, despite having undergone several name changes throughout its history. It offers advanced trading technology and solutions for automated trading across a diverse range of instruments.
Pros
Good trading technology and solutions for automated trading
Wide range of trading instruments
Cons
Lack of comprehensive educational resources
Trading instruments primarily limited to CFDs and Forex
Is Britannia safe or a scam? ▲
Britannia is definitely not a scam. Operating under the name Britannia Global Investments, previously known as Destek Markets, it is a brokerage firm based in the UK. It holds full authorization and regulation by the prestigious Financial Conduct Authority (FCA) in the UK. As an entity regulated by the FCA, Britannia Global Investments Limited is required to adhere to strict rules and regulations designed to offer the highest level of client protection.
Being based in the UK, one of the most reputable jurisdictions globally for financial services, means that client funds are treated with the utmost care. In accordance with FCA’s Client Money Rules, clients' funds are segregated in Tier 1 bank accounts, ensuring their safety.
Furthermore, accounts are monitored and reconciled on a daily basis, enhancing the protection and integrity of clients’ funds. An additional layer of security is provided through the Financial Services Compensation Scheme (FSCS), which protects deposits up to £85,000.
While engaging in trading activities with Britannia Global, traders are presented with the opportunity to utilize leverage, a powerful tool that can amplify potential profits by multiplying the initial account balance. The extent of leverage available is influenced by various factors, including the trader's level of experience, the type of financial instrument being traded, and regulatory limitations. As Britannia Global Investments is regulated by the UK's Financial Conduct Authority (FCA), it adheres to stringent leverage caps, setting the maximum leverage at 1:30 for major currency pairs, 1:20 for minor pairs, and 1:10 for commodities. These restrictions are in place to manage risk and protect traders from the volatile nature of the forex market.
Britannia Global shines in its technological sophistication and breadth of services, rendering it an ideal trading partner for both novice and experienced traders alike. Its provision of access to a wide array of trading instruments via the MetaTrader4 platform—the industry's gold standard—facilitates a convenient and diverse trading experience. Britannia Global's offerings encompass a broad spectrum of financial markets, including currencies, indices, commodities, and metals. This variety ensures that traders can explore and engage with global financial markets in a dynamic and potentially lucrative manner. Recognizing the challenges that new traders may face, Britannia Global not only grants access to an advanced suite of financial instruments but also extends comprehensive support to enhance trading skills and knowledge.
Britannia Global caters to a wide range of traders by offering several account types, beginning with the Standard account. This account type is accessible with an initial deposit of just $100 and features an average EURUSD spread of 1.57, based on a floating spread model. For those seeking more competitive terms, account diversification is tailored to the individual's experience level and account balance, presenting opportunities for tighter spreads. This structure ensures that traders at different stages of their journey can find an account that best suits their needs. Additionally, all Britannia Global trading accounts come equipped with a comprehensive suite of services, including support, analytical tools, and more, designed to enrich the trading experience.
Britannia's fee structure is primarily built around the spread, with variations across different account types. Additional charges, such as funding fees and inactivity fees, are detailed in the corresponding sections below.
Britannia's spread varies depending on the account type selected by the trader. The Gold Account, requiring a deposit of $1,000, offers lower costs with an average spread on EURUSD of 1.17 without any commission charges. The VIP account, aimed at clients with a deposit of $5,000, significantly reduces spreads to just 0.77 on EURUSD. Lastly, the professional tier of service is the ECN Account, which necessitates a $10,000 deposit and offers interbank spreads as low as 0.17 for EURUSD. For comparison, typical spreads for Forex instruments can also be reviewed alongside those offered by X Open Hub and BlackBull Markets to gain a better understanding of Britannia's market positioning in terms of retail pricing.
Britannia provides various funding options to facilitate easy and convenient account management for traders. These methods are designed to accommodate a wide range of preferences and include traditional bank transfers, credit and debit card transactions, and various electronic payment systems. Each funding method is selected for its reliability and efficiency, ensuring that traders can fund their accounts and withdraw their earnings with confidence.
Britannia Global Investments primarily utilizes the MetaTrader4 (MT4) platform, offering traders access to the markets at any time and from anywhere, across multiple devices through a single account. The MT4 platform is renowned for its wide range of trading tools, secure and user-friendly interface, making it suitable for both novice traders and seasoned professionals. Available as a desktop application for all operating systems, a web application, and a mobile version app developed specifically for trading on-the-go from a mobile or tablet. MT4's powerful analytical tools, including 50+ indicators and analytical objects, along with trading signals and the ability to automate trading via Copy trading tools, significantly enhance trading capabilities and informed decision-making.
This comprehensive review of Britannia highlights a broker with a longstanding operational history, initially known as Destek Markets. Having first focused on the local region, Britannia has expanded its services globally, allowing traders to benefit from a diverse product selection without hidden costs across various account types and cross-device platforms. The support provided aids daily trading activities, complemented by market analysis and trading specifications. Britannia offers a reliable trading environment to a wide range of traders, enabling international engagement.
Britannia Updates
It has been observed that the Britannia website is currently inactive and unreachable, indicating a suspension of its trading offerings and account openings. It is advised to conduct thorough research if any trading opportunities are presented, as scam brokers often use the names of previously regulated brokers to attract clients.
