Overview
Directa, founded in 1995 and based in Torino, Italy, is an online trading platform that operates without regulatory oversight. This lack of regulation presents potential risks for its clients, which is a key consideration alongside its pros, such as a diverse range of trading products, real-time market data, and user-friendly platforms. Directa caters to a variety of investment preferences with its extensive market instruments, including stocks, bonds, ETFs, ETCs, ETNs, certificates, warrants, futures, CFDs, funds, and options. While it offers the advantage of no account keeping or closing fees, there are specific service fees and additional charges for certain transactions. The platform provides access to markets in Italy, Europe, and the US, each with distinct trading hours. Directas trading solutions are accessible via multiple platforms, including web-based, desktop, and mobile apps, as well as proprietary platforms such as Darwin, Libera, and Classic. Comprehensive customer support is available through phone, live chat, and email, with the option for in-person consultations at their Torino headquarters by appointment.
Regulation
Directa operates without regulation, which poses potential risks and uncertainties for its clients. In the financial industry, regulatory oversight plays a crucial role in ensuring transparency, accountability, and the protection of investors' interests. When a brokerage firm operates without adequate regulation, it may expose its customers to a higher degree of uncertainty, including the possibility of inadequate safeguards against fraud or mismanagement of funds. It is essential for investors to exercise caution and conduct thorough research when considering using unregulated platforms like Directa. Exploring alternative options from regulated and reputable financial service providers can help mitigate potential risks and provide a greater sense of security for one's investments.
Pros and Cons
Directa offers a diverse range of trading products, including stocks, bonds, ETFs, options, and more, catering to various investment preferences. They provide real-time market data, auto-sync features, and a selection of user-friendly trading platforms. However, the lack of regulation poses potential risks and uncertainties for clients. Additionally, while Directa offers cost-effective account maintenance, there are fees for specific services.
Directa's offerings provide flexibility and accessibility for traders, but clients should exercise caution due to the absence of regulation and be aware of potential fees for specific services.
Market Instruments
Directa offers a diverse range of trading products, catering to various investment preferences and strategies:
Stocks: Directa provides access to trading stocks, allowing investors to buy and sell shares in publicly traded companies. This enables users to take ownership in the companies they invest in.
Bonds: The platform offers the opportunity to trade bonds, which are fixed-income securities issued by governments, corporations, or other entities. Bonds provide a steady stream of income through interest payments.
ETF, ETC, ETN: Directa allows trading in Exchange-Traded Funds (ETFs), Exchange-Traded Commodities (ETCs), and Exchange-Traded Notes (ETNs). These investment products provide exposure to various asset classes, including equities, commodities, and bonds, and can be traded like stocks.
Certificates & CW (Certified Warrants): Investors can trade certificates and certified warrants, which are derivative products that offer leveraged exposure to underlying assets like stocks or indices.
Futures: Directa offers trading in futures contracts, which are derivative contracts that allow investors to speculate on the future price movements of various assets, such as commodities, stock indices, or interest rates.
LMAX Exchange CFDs: Directa provides access to Contracts for Difference (CFDs) on the LMAX Exchange, allowing traders to speculate on the price movements of various financial instruments, including forex pairs and commodities.
Funds: The platform facilitates the trading of mutual funds and investment funds, providing a diversified way to invest in a broad range of assets managed by professional fund managers.
Options: Directa allows users to trade options contracts, which provide the right (but not the obligation) to buy or sell an underlying asset at a predetermined price within a specified time frame. Options are used for hedging or speculative purposes.
Directa's comprehensive range of trading products caters to investors and traders with different risk profiles and investment objectives, providing them with the tools and opportunities to diversify their portfolios and participate in various financial markets. However, it's essential for users to understand the risks associated with each product and trade responsibly.
Trading Fees
Directa offers a fee structure for its trading services, with several charges and costs outlined:
Account Keeping Fees: Directa does not charge any account keeping fees, meaning there are no monthly or annual charges for maintaining your account.
Account Closing Fees: There are no fees for closing your Directa trading account.
Withdrawals: Directa does not impose charges for withdrawing funds from your account.
Securities Transfer (Outgoing): Transferring securities out of your Directa account incurs no fees.
Stamp Duty on Liquidity: Directa does not charge stamp duty on liquidity for amounts exceeding €5,000 on average per year.
Stamp Duty on Securities: This fee is subject to the current legislation in your region.
Transactions Taxes (e.g., Tobin Tax): These fees are also subject to the prevailing legislation in your jurisdiction.
Interest on Liquid Assets: Directa does not charge interest on liquid assets.
Other Expenses: Directa has some additional charges for specific services and requests, including:
Certificate of membership in the Sistema Monte Titoli: €5 each + €10 Delivery Charges.
Certificate of dividends payment: €5 each.
Covering margined positions by Directa: €10 each affected security.
Management fees for Fatca regulatory requirements (applicable only to “US persons”): €20 per month.
Management fees for regulatory compliance D.lgs 231/2007 (applicable only to existing customers with account suspended for lack of adequate verification): €10 per month.
Contract documentation request and specific reporting (including necessary documentation for inheritance purposes): €25.
Special back-office operations on demand: €25.
Off-market transactions (OTC) with a counterpart internal to Directa: €50.
Off-market transactions (OTC) with a counterpart outside Directa:
Trade between 0 - €1 million: 9 bps, minimum €50.
Trade between €1 million – €3 million: 7 bps, minimum €50.
Trade between €3 million – €5 million: 5 bps, minimum €50.
Transfer of shareholding for physical shares: €80.
Advanced Tools for Your Trading Experience: Directa provides features like Dynamic Margin and Security Lending for short overnight, with associated interest rates.
Administrative Services for US Class Actions: In the event of a successful practice, Directa retains 20% of the net amount collected to cover administrative costs. If the practice does not generate any income, there are no costs to the customer.
Alert Services: Directa offers various alert services via SMS, Telegram, and email, with associated fees for SMS notifications.
Realtime Market Data Monthly Fees: Fees for access to real-time market data vary depending on the market and type of data. There are different rates for individual customers and companies/financial operators.
Traders and investors should review these fees carefully and consider them in their trading strategies to ensure they align with their financial goals and preferences. Additionally, fees may be subject to change over time, so it's advisable to regularly check Directa's official website or contact their customer support for the most up-to-date fee information.
Market Hours
Directa offers access to various financial markets and circuits in Italy, Europe, and the United States. Here is a summary of the available markets and their trading hours:
In Italy:
Borsa Italiana (MTA Euronext Milan) for equities, including daytime and evening trading hours.
SEDEX for warrants and covered warrants.
MTF for ETFs and OICR.
MOT for stocks and bonds.
IDEM for Mibo options and FTSE MIB Futures.
In Europe:
EuroTLX for Italian and foreign securities.
Eurex for various futures and options.
XETRA for trading DAX, MDAX, SDAX, TechDAX, and more.
Cboe for European blue-chip stocks.
LMAX Exchange for currency pairs, commodities, indices CFDs, and cryptocurrencies.
Spectrum Markets for trading certificates 24/5.
In the United States:
NYSE, NASDAQ, AMEX for equities, with access via Market Maker or ECN.
OTC for over-the-counter trading.
CME for various futures contracts.
Trading hours vary depending on the market and include preopening, opening, continuous trading, closure, and evening sessions. It's important for traders to be aware of these market hours when planning their trading activities on the Directa platform.
Trading Platforms
Directa offers a range of online trading platforms that cater to different preferences and devices. Here's a description of these trading platforms and their key characteristics:
Desktop/Mobile Web Trading Application: This is a web-based trading application that allows customers to trade directly from their web browsers without the need for installation. It is accessible on various operating systems, including Windows, Mac, Linux, and Unix. The platform provides real-time market data, order execution, and portfolio management.
Home/Office Desktop Trading Platforms: Directa offers several desktop trading platforms for home and office use. These platforms are fully maintained by Directa and receive regular updates. Users can trade across major operating systems, including Windows, Mac, Linux, and Unix. They offer real-time market data, order types (market, limit, conditional), short selling, margin trading, and detailed transaction reporting.
Mobile Trading App: Directa provides a mobile trading app, allowing traders to access their accounts and execute orders on the go. This app is compatible with various mobile devices and operating systems, providing real-time market data and order functionality.
dLite: This is another web-based trading platform designed for simplicity and ease of use. It offers real-time market data, order entry, and portfolio monitoring. It doesn't require installation and is accessible on multiple operating systems.
Libera: Libera is one of Directa's proprietary trading platforms, available without installation. It supports real-time market data, quick order execution, and various order types. Users can access their accounts 24/7, and the platform includes tax calculations.
Darwin: The Darwin trading platform is available across major operating systems but does not currently support Linux. It offers real-time market data, order entry, and detailed transaction reporting. It's a proprietary system maintained by Directa.
Classic: The Classic platform is another proprietary system that provides real-time market data, order execution, and portfolio management. It supports multiple operating systems and allows for short selling, margin trading, and tax calculation.
Traderlink VT: This platform, known as Visual Trader, is a technical analysis software that requires local installation on the customer's machine. It offers advanced charting and analysis tools for traders.
flashBoard: flashBoard is a web-based trading platform that doesn't require installation. It provides real-time market data, quick order entry, and portfolio monitoring.
flashBook: Similar to flashBoard, flashBook is a web-based platform with real-time market data, order types, and portfolio management. It is accessible across various operating systems.
multiBook (solo informativa): This platform is primarily for informational purposes and provides access to account data and market information.
directa App: A mobile application for trading and account management, providing real-time market data, order execution, and portfolio monitoring.
touchTrader: This mobile trading platform allows users to trade on the go, access real-time market data, and manage their accounts outside of exchange hours.
All of these platforms are offered free of charge by Directa and share common features such as real-time market data, quick order execution, multiple order types, short selling, margin trading, and detailed transaction reporting. They also provide auto-sync features, ensuring that settings and data are synchronized across all platforms for a seamless trading experience.
Customer Support
Directa offers a comprehensive customer support system to assist its users. Customers can reach the support team via phone in both Italian and English during business hours from Monday to Friday. Live chat support is available for online assistance during extended hours. Additionally, users can contact Directa through email at directa@directa.it. For those who prefer in-person interactions, Directa's headquarters in Torino welcomes visitors by appointment, providing a personalized touch to customer support inquiries, ensuring accessibility and assistance across various communication channels.
Summary
Directa is an online trading platform offering a wide range of financial instruments, including stocks, bonds, ETFs, options, and more. While it provides diverse trading opportunities, it operates without regulatory oversight, which may pose risks for investors. The platform offers various trading fees, including zero account keeping and closing fees, with additional charges for specific services. Directa's trading hours cover markets in Italy, Europe, and the United States, with multiple trading platforms accessible on various devices. The company provides customer support via phone, live chat, and email, with the option for in-person visits at their headquarters in Torino. Investors should carefully consider the pros and cons and conduct thorough research when using unregulated platforms like Directa to ensure they align with their financial goals and risk tolerance.
FAQs
Q1: Is Directa a regulated trading platform？
A1: No, Directa operates without regulatory oversight, which means it lacks the regulatory safeguards provided by financial authorities.
Q2: What types of trading products can I access on Directa？
A2: Directa offers a wide range of trading products, including stocks, bonds, ETFs, options, futures, and more, catering to various investment preferences.
Q3: Are there fees associated with maintaining a Directa account？
A3: No, Directa does not charge account keeping or closing fees, providing a cost-effective trading environment.
Q4: How can I contact Directa's customer support？
A4: You can reach Directa's customer support via phone, live chat, or email during their business hours, and even schedule in-person visits at their Torino headquarters.
Q5: Does Directa provide real-time market data？
A5: Yes, Directa offers real-time market data to help users make informed trading decisions across its various trading platforms.
