FXDD Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
FXDD, which also goes by the name FXDirectDealer, is a foreign exchange
broker that caters to retail as well as institutional customers across six
different asset classes. In 2002, FXDD established its headquarters in the city
of New York. In 2010, the business established an offshore subsidiary known as
FXDD Malta in the island nation of Malta. FXCM acquired all retail forex
accounts that had been held by FXDD in the United States in 2014. After that,
the corporation decided to discontinue selling their wares to customers in the
United States. Visit FXDD Website.
The Commodity Futures Trading Commission (CFTC) levied a punishment of $2.74 million on FXDD in 2013 for failing to adequately supervise its trading platforms. The broker provides trading in equities, indices, commodities, and energy in addition to cryptocurrencies and Forex. FXDD is subject to the regulations of Malta, and it possesses an FCA EEA Authorization, allowing it to provide its services throughout Europe.
FXDD is an online trading brokerage that provides clients with the option to open either a normal or an ECN account. It offers a total of 54 different currency pairs to trade in Forex, including majors, minors, and exotics; six different cryptocurrency pairs; seven different metals; three different energy assets; ten stock shares, most of which are focused on the technological sector; and ten of the most important indices from around the world. Trading in fractional lots and OCO orders are both supported by FXDD. The financial instrument known as a CFD is provided by the broker.
FXDD provides customers with the ability to select their own latency for market movements throughout the "flight time" of their orders. Slippage of either a positive or negative nature can occur with orders. "Order is refused if pricing cannot be found and latency allowance has been exceeded." When dealing with experts, a maximum leverage of 1:200 is acceptable.
Customers can choose to open either a Standard or an ECN pricing account while trading with FXDD. The normal account has reasonable spreads and does not charge commissions, however the ECN account has straight raw spreads that are extremely low but does charge charges.
The price plan that FXDD use is one that varies based on the market and the kind of account. There is a charge levied per lot for use of the ECN Pricing accounts. Depending on the time of day and the market conditions, the spread for all of the main forex pairs might be as little as 0.2 pip. The spread on currency pairs such as EUR/TRY is 47.6 pips, while the spread on USD/MXN is 43.4 pips.
Within the ECN Pricing account, the fee for significant pairs is $0.0299 per 1,000 and $0.299 per 10,000. The cost of all other assets is $0.00499 per thousand, and $0.00499 per ten thousand. After ninety days of inactivity during which no trades were carried out, a charge of thirty dollars will be assessed.
FXDD provides its customers with a family of four different platforms in addition to a mobile option. Metatrader versions 4 and 5, an in-house developed trading platform known as WebTrader, and the ZuluTrade automated trading solution are all available.
Traders at FXDD get access to a streamlined version of MT4 that enables them to manage various assets. It is possible to utilize Experts Advisors, and the leverage ranges from 1:1 to 1:500.
MT4 has progressed to the point where it now provides superior graphical charting tools, strategy testers, and more pending order options. The MT5 chart incorporates the news feed directly.
Tweets by FXDD
Access to the FXDD unique platform is simple and unrestricted at all times and in any location. It provides sophisticated study and trading tools for the seasoned market participant.
Traders are given the ability to select methods devised by more seasoned traders using this automated trading platform.
Is the Broker Compatible with Mobile Devices? The mobile platform is very well handled by FXDD.
The FXDD website has been optimized for mobile use and displays and functions superbly on any smartphone. The web interface is very much like the desktop version.
The FXDD Europe JForex and the iSwordfish apps, both of which are available for download on Android and iOS, are FXDD's two proprietary applications.
The PC application known as WEBTRADER has a mobile counterpart known as the iSwordfish app. It offers information in real time, a variety of reporting options, and a comprehensive range of order kinds.
At this time, neither new nor existing clients are eligible for any kind of promotion or incentive offer. "Under FXDD Global, which is regulated under ESMA norms, we are unable to give any incentive or promotion," the customer care department stated.
Credit cards, wire transfers from banks, and other electronic choices are some of the payment methods that are accepted by FXDD. The manner in which the money was originally received will be used to repay any amounts that have been redeemed. There are neither fees nor a minimum amount required to participate. FXDD allows deposits in the following currencies: USD, EUR, GBP, JPY, and CHF. Paper checks are not allowed at this establishment. The fees associated with the client's initial withdrawal within each month's calendar are paid for by FXDD.
The customer assistance offered by FXDD is effective. They are available to respond to inquiries around the clock. The chat feature is by far the most popular option, but they also have callbacks in case you'd prefer to have a conversation over the phone.
There are seven different languages supported by the customer care team: English, Spanish, Italian, Japanese, and Chinese. The company has a presence on the social networking sites Facebook, Twitter, and YouTube. FXDD includes a detailed FAQ page.
Users get access to a wide variety of tools, white papers, and trading manuals through FXDD. They also provide historical prices that are updated every minute, as well as an economic calendar that is driven by Metatrader as well as research and news from third-party sources such as TraderMade and ForexLive. However, FXDD does not offer its consumers an adequate number of instructional tools, particularly those geared toward novice traders.
In 2012, World Finance recognized FXDD as the next top foreign exchange broker in the United States and as having the finest foreign exchange deal executions. In addition, Global Banking & Finance Review recognized it as the Most Trusted Forex Broker in Europe in 2012 and named it the Best New Platform in Europe the same year.
FXDD is also well-known for the elite teams that it has sponsored in the past, including the Red Bull Racing team in Formula 1 in 2010, the New York Rangers in 2009, and the student-run cycling club at MIT from 2006 to 2015, among others.
The broker offers a virtual private server service. If the client does not keep a minimum deposit of $2,500 and he trades a minimum of five, seven, or ten standard lots in the preceding month, then the customer will be subject to a cost of $30, $40, or $85 respectively.
One of the most venerable brokerage houses in the foreign exchange market is FXDD. As a result of the company's loss of its US business in 2014, when it sold all of its US retail business to FXCM, it now offers offshore services in Malta. Even though FXDD has a generally positive reputation, the problem that they had with the CFTC in 2012 is cause for concern.
Because it is solely regulated in Malta, the broker does not accept customers from the United States. The MFSA will protect up to €20,000 worth of an investor's money at any given time. According to the findings of the FXDD review, the broker is extremely knowledgeable and gives traders access to the resources they need to improve their overall trading success.
FXDD is a reliable foreign exchange broker that possesses full registration and regulation by virtue of the Malta Financial Services Authority (MFSA), the Financial Conduct Authority (FCA), and the EU/EEA under MiFID passporting rights. In addition to offering services for trading foreign exchange, FXDD also facilitates trading in a wide variety of other financial assets, including cryptocurrencies, equities, indexes, energy, and metals. Since its founding, the business has been in operation for more than a quarter of a century and has recorded a transaction volume of $7.3 trillion while simultaneously fulfilling over 320 million orders. Additionally, FXDD has a total of 350K registered account holders on its site. Customers of this foreign exchange broker may anticipate tight spreads and quick deal executions due to the FX broker's extensive market coverage. Trading platforms MT4 and MT5 are also accessible for use, and both offer access to the full range of financial products. At the moment, clients of FXDD have access to more than 67 different currency pairs, in addition to a wide variety of choices pertaining to metals, energy, stocks, indices, and cryptocurrencies. FXDD began operations in 2002 and is currently enjoying more than 15 years of outstanding trading performance in the foreign exchange (FX) market. The business is managed by a group of professionals that have decades of combined expertise in areas such as foreign exchange trading, account management, and financial research. FXDD's offices in New York and Malta each house six different asset types. At FXDD, protecting the privacy and confidentiality of our customers is a top priority. This is ensured by the use of separate accounts that are maintained for each customer in the event that the firm becomes bankrupt or is sued. This foreign exchange broker was granted a Category 3 MFSA license, and thanks to MiFID, it is now able to provide its services to customers located anywhere inside the European Economic Area (EEA). Because of regulation by the Financial Conduct Authority (FCA), forex dealers in the UK can have some peace of mind. FXDD, among other things, provides speedy trade executions and enables the implementation of different strategies on MetaTrader 4 and 5, WebTrader, and ZuluTrade. This foreign exchange brokerage supports all of the major mobile operating systems, including Android, iOS, and PC, as well as browsers (Chrome, Explorer, Firefox).
Standard accounts and ECN accounts are the two basic account categories that traders may choose from when opening an account with FXDD. Traders who intend to handle all aspects of their own trading activity should choose the basic account. There are no commissions charged, and the spreads are competitive. Fill-or-kill execution with no partial fills, no slippage on entry orders, and price improvements on limit orders are just a few of the numerous advantages offered by the regular account. There is no markup added to the raw direct spreads, and there are no charges charged on any transactions made through ECN accounts. With an ECN account, you can expect a fill rate of more than 99 percent and lightning-fast trade executions at all times. For example, the commission on major currency pairings is only $2.99 for every 100,000 dollars transacted. The commissions per side are significantly lower than average, and there are no partial fills available. Additionally, pricing enhancements might be made available to customers with limit orders. If you click this link, you will be sent to a page that has further information about ECN pricing for foreign exchange, metals, energy, indices, stocks, and cryptocurrencies.
Customers may choose from a variety of trading platforms, including as
MetaTrader 4, MetaTrader 5, WebTrader, and ZuluTrade. Forex traders may take
advantage of a variety of advantages thanks to each of these, including the
The most widely used trading platform in the business is MetaTrader 4, sometimes known as MT4. It offers comprehensive charting capabilities, a comprehensive toolkit, and automated trading options, among other things. MT4 is entirely designed for use on mobile devices running iOS, Android, and Windows. It is compatible with a variety of web browsers, including Firefox, Internet Explorer, and Chrome. Customers have access to a diverse selection of tradable assets, including foreign exchange (Forex), commodities, equities, and indexes. The FCA has allowed a range for leverage that goes from 1:1 all the way up to 1:50.
MetaTrader 5, sometimes known as MT5, is an improved version of the previous platform, MetaTrader 4. It provides tools and resources for testing strategies, and it covers a diverse set of market areas. On MT5, the charting tools and resources have seen significant advancements, and users may take advantage of MT5's complete mobile capability across a variety of browsers.
WebTrader, which is FXDD's own (in-house) trading platform, features an intuitive user interface and provides users with immediate access to the financial markets. Clients have access to a comprehensive collection of tools and resources, leverage ranging from 1:1 to 1:50, and fully supported EAs, allowing them to trade at any time and from any location. Multiple asset types, including commodities, indices, equities, and foreign exchange, are all tradable on MT4, just as they are on MT5. Commissions for trading foreign currency on WebTrader are as follows: $2.99 for every 100,000 FX majors; $4.99 for every 100,000 FX other pairings.
This industry-leading trading platform, ZuluTrade, gives users the ability to "copy and paste" the trading methods used by seasoned industry experts, allowing them to then profit from these trading methodology. Trading can be completely automated, semi-automated, or carried out manually across all operating systems when using the ZuluTrade platform. To further improve your trading experience and at no additional cost to you, the signal providers are at your disposal.
The margin call is set at 20 percent, whereas the stop out is always set at zero percent across all trading platforms.
Credit cards, bank wires, China UnionPay, and e-wallets like Neteller are some of the deposit methods that are accepted. The "deposit" tab, located in the upper right corner of the screen, has further information about each of these banking options. The processing time for credit card deposits is normally one business day, however the processing time for withdrawals can range anywhere from five business days to ten business days. Neteller deposits can take up to one business day to complete, whereas China UnionPay deposits are accessible between two and five business days after the transaction has been processed.
The variety of markets may be located in the Markets category, which can be accessed by clicking on the Trading button at the very top of the page. Forex pairings such as the USD/JPY, EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD, NZD/USD, AUD/USD, and NZD/USD are traded on the markets. Other Forex pairs include the EUR/GBP, EUR/JPY, EUR/CHF, EUR/AUD, EUR/CAD, and EUR/NZD.
Metals include copper, XPD/USD, XPT/USD, XAG/EUR, XAU/EUR, XAG/USD, and XAU/USD.
Natural gas, oil from the United Kingdom, oil from the United States (both types), and oil from the United States.
The SPX500, the NAS 100, the USA 30, the HKG 33, the JPN 225, the AUS 200, the UK 100, the FRA 40, the GER 30, and the ESP 35 are all examples of indices.
The term "stocks" refers to a variety of financial instruments, some of which include the following: Bank of America Corporation (BAC), Twitter (TWTR), Google (GOOG), Netflix (NFLX), Amazon (AMZN), Facebook (FB), and Apple (AAPL).
There are several exchange rates available for cryptocurrencies, including XRP/USD, LTC/USD, ETH/USD, BTC/JPY, BTC/EUR, and BTC/USD.
We called FXDD's customer service in order to obtain information on their bonus and promotional offer options. No promotions are available. Due to the fact that this brokerage is regulated by the FCA, no incentive offers are being advertised. The contact for customer support mentioned that "We might provide a 5 percent incentive based on your first deposit, but these are reviewed case by case, not posted on our site." The customer service agent emphasized that "they are not displayed on our site."
Customer service is very quick to respond to any questions or concerns raised by customers. From Sunday through Friday, between the hours of 5 PM and 4:55 PM Eastern Standard Time, you will be able to contact support representatives around the clock. Customers can reach us at the following telephone numbers:
The number to call for support is (356) 2013-3933
Traders may be reached at this number: +356-2013-3939
The support email address is email@example.com, and the sales email address is firstname.lastname@example.org.
Clients also have access to an online contact form, which allows them to enter their first name, last name, email address, and details regarding their query before waiting for a response from a customer service professional.
Traders in foreign exchange may deal with this broker with complete peace of mind because it holds a valid license and is regulated by both the Financial Conduct Authority and the Malta Financial Services Authority (MFSA) (FCA). Client monies are kept in separate accounts as an additional layer of security against the risk of insolvency, claims, or bankruptcy. SSL, or secure socket layer technology, prevents third parties from illegally accessing traders' financial accounts.
At FXDD, all of the possible category selections are presented at the very top of the page, and drop-down menus are provided for easy navigation. This provides information about us, our trading, our relationships, the resources we provide, and how to reach us. Because it gives information on accounts, platforms, and markets, the trading tab is the most helpful of the tabs. The steps required to open an account and engage in online trading are not overly complicated so long as you come from a nation that is recognized.
Your journey into actual market trading activity may be made more manageable with the assistance of FXDD's demo trading account. Because it acquaints you with MetaTrader 4, MetaTrader 5, WebTrader, and ZuluTrade, this is an excellent educational resource that you should make use of. In general, this foreign exchange broker is a tested and trustworthy choice, having spent over 15 years working in the business. There are over 67 currency pairs available for trading, in addition to a wide range of other assets.
FXDD is a CFD and forex broker that has its headquarters in Malta for clients
located in Europe and in Mauritius for clients located elsewhere in the world.
The Malta Financial Services Authority (MFSA) and the Mauritius Financial
Services Commission are the two regulatory bodies that oversee the activities of
the broker in both of the nations in which it operates (FSC).
Unfortunately for traders residing in the EU/EEA, the maximum trading leverage is limited to 1:30 on the currency pairings with the most liquidity, and it is much lower on products with a higher degree of volatility. Traders who are located in the EU, on the other hand, enjoy the additional benefit of being eligible for a government-guaranteed investor compensation system with a maximum payout of 20,000 EUR and the assurance that they will never have a negative balance on their trading account.
The maximum trading leverage that FXDD provides for traders from from all other parts of the world is 1:200.
FXDD provides clients with access to a wide variety of trading instruments, such as more than 50 different currency pairs, six different cryptocurrency CFDs (including BTC/USD, BTC/EUR, BTC/JPY, ETH/USD, LTC/USD, and XRP/USD), and a selection of indices, metals, and energy commodities that are offered in the form of CFDs.
In addition, CFDs that are based on a few specific stocks of US-listed firms are available to trade with FXDD. Apple, Facebook, Amazon, Netflix, Tesla, Google (Alphabet), Alibaba, Twitter, Bank of America, and Baidu are some of the corporations that make up this group as of the time of this assessment.
Traders who choose to open an account with FXDD have the option of opening either a "Standard" Straight Through Processing (STP) account or an Electronic Communication Network (ECN) account. As is customary, the ECN account offers the lowest spreads on all trading products but does so at the expense of fees on each and every trade. The Standard account, on the other hand, does not charge any commissions for trades but has broader gaps between the prices at which you may buy and sell.
Because of the distinctions between these two types of accounts, it is obvious that traders who have access to higher quantities of capital will do better with an ECN account. However, the Standard account is likely to provide a better value for novice users who have more modest balances.
As an illustration of the spreads that are accessible with FXDD, the EUR/USD currency pair has a spread of 0.8 pips when traded through the ECN account, but 1.9 pips when traded through the Standard account.
You have the option of funding any trading account using a Visa, MasterCard, or Neteller card, as well as the China UnionPay card. This particular broker does not, sadly, support bitcoin deposits of any kind.
MetaTrader 4 and MetaTrader 5 (often abbreviated as MT4 and MT5, respectively) are two of the most widely used retail trading platforms in the world. FXDD provides clients with access to both of these platforms. In addition to that, the broker provides access to its own own custom-built online platform.
It is important to note that the web-based trading platform that is exclusive to the broker can only be used by customers who have an ECN account. The online platform offered by FXDD is equipped with an intuitive user interface and charts that are derived from the widely used TradingView charting platform. In addition to enabling users to examine up to four charts concurrently, this facilitates the performance of complex technical analysis on the charts in a straightforward manner. Traders who are already comfortable with TradingView will thus find it simple to begin utilizing the online interface offered by FXDD.
The fact that the customer care team at FXDD is available via a phone number registered in Malta, email, and live chat 24 hours a day, seven days a week is something that we value highly.
Overall, we think that FXDD is a respectable forex and CFD broker. It is especially recommended to traders who are interested in trading crypto CFDs against fiat currencies such as the euro and the yen, which are not typically offered by other brokers. The charts that are available on TradingView are also available on the broker's own online platform, making this an excellent option for traders who like the TradingView platform. Because FXDD is a forex broker that is completely regulated, we believe that it is a good option for all traders because it is reputable and trustworthy.
Established in Malta, FXDD is a provider of financial services that offers extensive investment alternatives to retail, corporate, and institutional customers. A customer may benefit from cheap spreads and no commissions thanks to the ECN-based technology, which also ensures that raw spreads and quotations are obtained directly from liquidity providers while maintaining an extremely low latency. Since the beginning of this decade, the Forex sector has been primarily expanding. Therefore, it attracts and includes more than several million traders from all over the world who are wanting to earn some money on the side. These traders come from every region of the world. In addition, this market is the one that has the potential to provide them just that, but it also has the potential to cause them to lose everything. The first thing you need to know about the Foreign Exchange market is how to handle the money you already have, namely where to put your money and how much you should put in. The very first safety measure that should be taken is to collaborate with a regulated firm. Find out more about the company with which you are interested in working, read any reviews that have been left, look for individuals online who have worked successfully with them, and make sure that you have information from many sources indicating that they are legally regulated. It will make things much easier for you in the future. The foreign exchange market is dominated by FXDD, which is one of the top dealers in the market. It has been active on the international scene for a number of years, and it has gained a lot of notoriety as a result of its sponsorship of several racing teams. The fact that FXDD is regulated by both the MFSA with the number 48817 and the FCA with the ID number 524754 is the very first thing that you will notice when visiting the website for FXDD. Everyone who considers entering the market is left with a very favorable image as a result of this. As a result, everyone can be certain that they are collaborating with a corporation that is both open and subject to regulation. FXDD is a Forex and CFD broker that operates out of Malta, where the company's headquarters are located. FXDD Europe, the company's branch office, was established in the year 2002. In addition to being licensed by the Malta Financial Services Authority (MFSA), it is regulated by the EU Markets in Financial Instruments Directive (MiFID). In addition, the broker is licensed to do business by the FCA in the United Kingdom, the AMF in France, the CONSOB in Italy, and the CNMV in Spain. In Germany, it is controlled by BaFin; in the Netherlands, it is regulated by AFM; in Sweden, it is regulated by FI; in Denmark, it is regulated by The Danish FSA; in Hungary, it is regulated by PSzF; in Slovakia, it is regulated by NBS; and in the Czech Republic, it is regulated by CNB. As a result, FXDD was recognized as the Most Trusted Forex Broker in Europe in 2012, in addition to receiving numerous accolades.
The FXDD firm provides customers with a number of different trading platform alternatives. These include the industry standard MetaTrader 4, in addition to MTXtreme, AUTO platform, PowerTrader, VikingTrader, and their own FXDD Trader. It implies that it has a vast variety of options for the clients who use platforms other than MetaTrader 4, which is a key benefit for many of the people who are interested in FXDD's services since it means that more clients may utilize the company's services. Because the majority of these systems can also be accessed through mobile devices, you will always have access to and management of your financial resources.
When it comes to account types, you have a choice between two different options, which is more than adequate for many different kinds of clients.
Mini and Standard Accounts: These two accounts can either be set up as individual accounts, joint accounts, or as accounts for a corporation. The fact that these accounts do not require a specific initial minimum deposit and that the spreads are the same for both types of accounts is one of the most essential aspects of these accounts. However, the Standard account is more suited for those who are going to be working with bigger sums of money than the Basic account is. In addition, a Demo account is offered to everyone who is interested in gaining knowledge about the market. This account is accessible for a period of ninety days after the first registration.
We are sorry to inform you that FXDD does not currently provide any incentives or promotions. However, this should not be considered a sufficient cause to avoid participating in the FXDD trade or accepting their services. FXDD's numerous strong points more than make up for this shortcoming, despite the fact that this is an annoyance for a significant number of its customers.
One of the many advantages of using FXDD is that it gives users a wide variety of options for quickly and easily depositing, withdrawing, and moving money between accounts. It is also vital to emphasize that there are no costs associated with making a deposit, and that you have the opportunity to withdraw your cash at any moment. Both of these details are crucial to keep in mind. You are simply need to fill out the FXDD Funds Redemption form and fax it to the office in Malta when you want to redeem your funds. It may appear to be an impediment at times, but all of the funding may be accomplished through the use of credit cards, bank transfers, and other e-wallet payment methods such as Skrill, Neteller, and other online payment programs.
This broker organization provides its clients with a variety of different alternatives for customer service. There is a wonderful support staff that works quickly and effectively and is always prepared to answer any questions you may have. A live chat feature and an option to be called back are included among the support choices, in addition to an email address and a phone number. You can get in touch with an FXDD representative by phone around the clock from Sunday 5 PM to Friday 4 PM Eastern Standard Time (EST). In addition, the support staff will respond to your e-mail as quickly as they can. It is clear from reading the reviews that the company values the relationships they have with its patrons.
FXDD is a foreign exchange broker firm that operates out of New York City in
the United States.
Forex brokers are organizations that offer traders with access to platforms that enable them to purchase and sell foreign currencies. These platforms are known as forex trading platforms. Retail forex brokers and currency trading brokers are both names that refer to the same type of business.
In turn, retail currency traders employ these brokers in order to acquire access to the 24-hour currency market for the sake of speculating.
Institutional clients and huge corporations such as investment banks can also take use of the forex broker services that are available.
FXDD is a global provider of financial services that was founded in 2002. The firm caters to retail, corporate, and institutional investors by providing a wide range of investment alternatives.
FXDD uses technology that is based on ECNs to give clients with cheap spreads and does not charge clients any commission costs. It has about 350 000 clients that it services, and the total amount of its transactions is up to 7.3 trillion US dollars. Traders may take advantage of FXDD's competitive pricing and market circumstances.
FXDD provides a selection of trading platforms that are compatible with a wide range of devices as well as online browsers. FXDD has been operating as a broker for close to 18 years, and throughout that time it has established a significant reputation by consistently delivering outstanding service to its customers.
On the website, it does not appear that there are any prizes for FXDD.
A foreign exchange account, often known as a forex account, is a trading account that is held by a trader with a business such as FXDD and is primarily issued for the purpose of trading currencies.
Typically, the number of accounts and types of accounts that a trader is permitted to open with a broker firm will vary depending on the country in which the brokerage is based, the trader's country of residence, and the regulatory authorities under whose jurisdiction the firm is authorized to conduct business.
Standard and ECN pricing accounts are the two types of trading accounts that are available to choose from while using FXDD. The type of account that a trader has with FXDD, in addition to the financial instrument that is traded, helps decide the spreads that are made available by the company.
Traders may benefit from reduced spreads as well as the absence of commission fees with the Standard Pricing Account. The following are some of the features offered by this account:
The slippage rate for entry orders is guaranteed to be zero.
Executions using the fill-or-kill system with no incomplete fills
There are no costs associated with the commission.
Order restrictions that allow for price adjustments to be made
Traders are able to have access to raw spreads that do not include a markup by using the ECN Pricing Account, which also provides the added benefit of minimal commission fees that are levied each trade. The fill rate for this account is greater than 99 percent, and high-speed performance can be relied on at all times.
The following are the fees that are associated with the ECN Pricing commission:
The rate is US Dollar 0.0299 per 1,000 for the EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, EUR/JPY, and GPB/JPY pairs, and US Dollar 0.299 per 10,000 for those pairs.
Everyone else will be charged. US Dollar 0,0499 per 1,000 and US Dollar 0,499 per 10,000
In addition, having an ECN Pricing Account entitles you to price increases that are accessible on limit orders and the elimination of partial fills in your transactions.
The use of debit or credit cards, Neteller, UnionPay, or wire transfers from your bank is accepted as methods for both depositing and withdrawing monies. Deposits may be made using a variety of currencies, including US Dollars, Euros, British Pounds, Japanese Yen, Swiss Francs, and Bitcoin.
FXDD does not recognise any payments made by other parties. Any funds that be sent into the trading account must be done so using the exact same name that was used to register the trading account.
When withdrawals are requested, the first withdrawal in each calendar month is processed free of charge because FXDD is responsible for covering the associated costs; nevertheless, further withdrawals will result in a fee of an extra forty dollars in United States currency.
The smallest amount that may be withdrawn is one hundred dollars in US currency. It is simple for customers to make withdrawal requests; all they need to do is log in to their client portal on the internet.
Price and Associated Fees, together with Commissions and Spreads
The amount of money spent on trading is determined by a number of variables, including fees, spread, and margins.
The difference between the bid rate and the asking rate for a currency pair is known as the spread for that pair. A point of interest (pip) is the smallest possible change that can occur in a currency exchange rate. For currency pairs in which the Japanese yen serves as the term currency, one pip is equal to 0.01, but for all other pairs, one pip is equal to 0.0001.
Margin refers to the amount of money that must be present in an account before a position may be opened. The current price of the base currency in relation to USD, the size (volume) of the position, and the leverage that has been applied to your trading account are all factors that go into the calculation of margin.
Commissions are the fees that a trader must pay to an investment broker in exchange for the broker's assistance in conducting transactions on the trader's behalf. The amount of commissions charged will fluctuate from one broker to the next, as well as depending on the asset that is being traded and the kind of service that is being provided by the broker.
Traders often pay lesser commissions when they work with execution-only brokers, which are defined as brokers that do not offer any kind of personalized financial advice and who grant traders full authority over the manner in which they trade the markets.
Commission on shares will be required for trading contracts for differences (CFDs), a common type of derivative trading that is becoming increasingly popular since it lets traders to bet on the rising or falling prices of rapidly changing global financial markets.
Trades in contracts for difference (CFDs) made on other markets don't incur commission fees, but they do add a spread on top of the price of the underlying asset.
In order to create an account with FXDD, a minimum deposit of ten dollars in US currency is required. When you choose a Standard Pricing Account, you will be subject to variable spreads that have been marked up, but you won't be charged any commission costs.
The direct raw variable spreads on the ECN account are smaller, and the account's commission costs are only three dollars, which are both competitive and reasonably inexpensive.
If a position is maintained for more than one day, traders need to be aware of the rollover and overnight costs that may apply. The amount of these fees is dependent on the specific financial instrument being used.
In addition, in the event that the account is inactive for a period of three months or more, FXDD will assess an inactivity fee. This cost is either equivalent to the lessor of the trader's remaining balance in their account or thirty dollars in United States currency.
Leverage refers to the facility that enables a trader to create a position with a considerably bigger exposure to the market in comparison to the amount of money that they first placed in order to do so. Leveraged products like this amplify a trader's potential profit, but they also raise the trader's potential loss, which is to be expected.
The level of leverage is typically stated as a ratio, such as 50:1, 100:1, or 500:1. Assuming that a trader has a trading account balance of US Dollar 1,000 and is trading ticket sizes of 500,000 USD/JPY, the trader's leverage will be equivalent to 500:1.
The quantity of leverage you use while trading is determined in part by the instrument you are trading with, as well as by the regulatory constraints in place and your own particular level of expertise.
However, skilled traders may be eligible for a larger leverage of 1:100 than what is offered by FXDD, which gives leverage with increasing level up to 1:30.
FXDD provides its traders with a variety of leverage options, which vary based on the financial instrument and are as follows:
10% of the account's total leverage on the USD/CNH, USD/HKD, EUR/TRY, EUR/DKK, USD/DKK, USD/TRY, and JPY/TRY pairs
25 percent of the account's total leverage on the USD/MXN and EUR/MXN currency pairs
leverage of fifty percent of the entire account on the XAU/USD, XAG/USD, XAU/EUR, XAG/EUR, XPT/USD, OIL/USD, NATGAS, UKOIL, and COPPER pairs
5 percent of the total account leverage is applied to individual stocks
A margin requirement of 1:10, or 10 percent, is placed on cryptocurrencies, and
Maximum scale of 1:100 for all Indices CFD Instruments.
It is common practice for forex brokers to entice new traders with promises of enticing deposit incentives. This could be helpful, but it is very necessary to determine what a legitimate bonus is.
A bonus of this kind is just a method of compensating traders for selecting a certain broker, given that once the account is established, the trader will be subject to the same fees as any other participant in the market.
Once the trader has demonstrated that he is an active trader, he will be eligible to get the bonus, which is just a reward for the trader's decision that will reimburse part of the trader's costs.
In addition, the European Securities and Markets Authority (ESMA) has imposed investor protection requirements on the promotion, distribution, or sale of CFDs to retail clients as of August 1, 2018. These regulations have been in effect since that day.
These regulations prohibit brokers from providing retail customers, either directly or indirectly, with a payment, monetary or excluding non-monetary advantage in regard to the marketing, distribution, or sale of a CFD, other than the profits realized on any CFD that is offered.
This indicates that a Deposit Bonus is not presently available for use with retail customers at this time.
On the website, it is not made abundantly obvious whether or not FXDD provides clients with any kind of incentive when they first register an account.
The platform is the name given to the forex trading software that is made available to the customers of a broker firm and is utilized by those customers in the execution of their transactions.
A platform has the potential to be multi-asset, which implies that customers can trade not just foreign currency but also other asset classes, such as contracts for difference (CFDs) on equities, stock indexes, precious metals, and cryptocurrencies on it in addition to FX.
What a customer wants to trade will play a significant role in determining which trading platform they should go with; thus, this factor will also be one of the factors they use to select a broker.
As trading platforms, FXDD provides its customers with a choice between MetaTrader4, MetaTrader5, and the company's own WebTrader.
The trading community's primary and most preferred platform is MT4, which was developed by MetaQuotes. It boasts a user-friendly and straightforward design, in addition to its sophisticated charting and trading capabilities, which contribute to its status as the greatest product in its category.
Trading may be done from any location in the world using MT4, which can be utilized on cellphones.
MT4 is equipped with all of the following features:
The choice to engage in trade with a single click.
An interface that is very amenable to modification.
Access to real-time pricing quotations
Three different kinds of charts
Warnings and informational messages
The capacity to execute trades automatically
Nine different chart periods
More than fifty different kinds of technical indicators
MetaTrader4 online is compatible with many of the most widely used web browsers, in addition to having the same features as the other MT4 platforms. This gives it an extra advantage over the competition. This platform does not require the downloading or installation of any supplementary software in order to be used.
MT5 is an improvement over MT4, and despite the fact that most of its features are virtually identical to those of MT4, it comes with a number of new capabilities, including the following:
More technical indications
Additional tools for creating graphical charts
More time frames
Having the ability to employ a multi-currency strategy tester, to name just one example, is also important.
This platform also comes in a mobile version known as MetaTrader5 mobile, which gives users the opportunity to trade financial products even while they are not at their desk.
This platform has exactly the same capabilities as the desktop platform, and it may be downloaded through the app stores that are appropriate for devices running software developed by Android or Apple.
MetaTrader5 Web may be accessed using the majority of widely used browsers, and users are not need to download or install any additional software to use it. This trading platform may be used on computers running Windows, Mac OS X, or Linux as long as the PCs also have a browser and a connection to the internet.
This is an internal trading platform, and it comes equipped with the following features:
Web-based interface that is easy to use
Beginner traders are able to utilize it because of how simple it is.
Charting that may be customized
Uncomplicated access to a wide range of marketplaces at any time and from any location
Offers a wide range of charting tools, many of which are geared at traders with more expertise.
There is an abundance of freely available scripting and indicators.
This trading platform supports order execution with a single click, in addition to many other features.
The majority of brokers make available for trading all of the following types of market instruments, or at least some of them:
Trading foreign exchange, also known as currency trading or FX trading, takes place on the currency exchange market, which is comprised of private people, corporations, and financial organizations. Participants on this market exchange currencies for one another at varying exchange rates.
The commodities markets, just like the currency exchange markets, provide traders with a variety of chances for making investments. During periods of inflation or economic unpredictability, one tried-and-true method for mitigating risk is to make investments in contract-based, tradable products.
Actual stock market indices, also known as equity or stock indices, are a type of stock market index that are used to quantify the value of a particular sector of a stock market. Either a particular stock market or a subset of the greatest corporations in a country's economy can be represented by these symbols, depending on the context.
Hard commodities are traded things that are dependent on contracts, and the trading of gold and other precious metals entails the trading of these commodities.
The high degree of price fluctuation that is typical of this commodity as a result of political and environmental variables, supply and demand, harsh weather conditions, and the expansion of economies throughout the world is one of the reasons why trading in this product is another popular option.
The following financial market instruments are available for trading with FXDD:
Forex, Metals,Energies, Indices
Cryptocurrencies and Stocks
A prospective trader needs to determine, as one of the very first things they must do, whether or not a broker such as FXDD is secure to trade with. To determine which regulatory agencies are acting as watchdogs over the activities of a brokerage is one of the most reliable benchmarks for measuring the safety of a brokerage.
FXDD is a subsidiary of an EU-based parent company that satisfies the prerequisites of a number of laws. This parent company has obtained an Investment Service Category 3 license from the MFSA, in addition to a Group Licence and Authorization, both of which are authorized by the FSC in Mauritius and subject to its oversight.
FXDD is registered with the partner EU authorities that are regulated and allowed by the MiFID. In addition, FXDD offers its services to customers located inside the EEA zone.
FXDD is a reliable business partner, and the company ensures that client money are held in separate accounts, making it impossible for FXDD to access these assets for any reason.
Potential traders need to be able to have confidence that the broker firm they choose will be able to provide them with the essential assistance and aid anytime they may want it.
From Sunday at 5 PM through Friday at 4:55 PM Eastern Standard Time, FXDD offers customer service around the clock. You may get in touch with the organization by calling them, sending them an email, or requesting that they give you a call back. You can also use live chat.
Before beginning to engage in speculative trading, prospective traders should always undertake as much study on the topic as they possibly can.
Because trading with self-assurance and achieving financial success is highly dependent on having knowledge and an understanding of the markets, the research options provided by brokers are an essential component of the features that should be considered when selecting the right company to trade with.
FXDD offers a variety of research tools, including the following:
Trading Central is an online trading platform that offers investors not only high-quality technical research but also fundamental analysis. You may get to this information by logging into the client portal on the website or by using the MT4 indicator plugin.
Calculators for trading may be used to determine a number of different things, including margin amounts, position sizes, and Fibonacci levels, amongst other things.
Free Virtual Private Servers (VPS) are made available to traders who keep a minimum balance of US$2,500 and trade a minimum of 5 lots each month. In addition, these traders must meet certain volume requirements. Because of the VPS, traders are able to keep their trading platform active around the clock.
Traders who use MetaQuotes have access to an Economic Calendar that not only provides the most recent economic news but also displays the results of prior, anticipated, and real economic events that are related to news releases.
Before beginning to trade, those who are considering becoming clients of FXDD should ensure that they have mastered all of the relevant knowledge and trading abilities necessary to be successful in the field of forex and commodities trading.
A trader should look into other helpful websites and methods to get the necessary expertise if the FXDD website does not supply enough of the necessary resources on its own.
Not only does FXDD's website offer beneficial teaching tools and information for novice traders, but it also caters to more experienced traders who are looking for further support.
The trading guidelines not only provide novice traders with a better understanding of the trading community, but they may also act as a point of reference for traders with intermediate and advanced levels of expertise. You may either browse these trading guidelines on the internet or save them to your computer in PDF format.
In addition, FXDD provides live trading and instructional programs on a consistent basis through its regularly scheduled programming. There will be weekly live video sessions provided as a provision.
Traders will also find that the glossary and the frequently asked questions area, which covers a number of themes and offers access to questions that are asked most frequently in relation to trading, the services that FXDD provides, and other issues, are useful resources.
Because it complies with some of the industry's most stringent operating requirements, FXDD has earned a reputation for being a reliable and trustworthy broker. It distinguishes itself from its competitors by providing customers with rates, spreads, and trading conditions that are among the most favorable in the industry.
The foreign exchange market is saturated with several brokers, each of which
has its own set of advantages and disadvantages. On the other hand, there is one
website in particular that can point you in the correct direction when it comes
to making the appropriate choice of a dependable and user-friendly form of
software. Meet FXDD Forex broker, the broker that cares for you and that enables
you to make up your mind and your choice in the most suitable method with a
large lot of useful advice to guide you along the road! Find out more about this
awesome platform right away by reading our comprehensive review of FXDD.
Information Regarding the FXDD Forex Broker Company and Its Origin
These days, the Foreign Exchange sector generally acknowledges FXDD as one of the most significant players among the largest Forex brokers. In addition to this, the website's solid reputation as a financial dealer has helped it to get to one of the first positions in the charts that rank the best suppliers of financial services. However, it's not just about the amazing pack of facilities that FXDD delivers; it's also about the rich expertise that has turned this broker into a superb possibility for trading to all traders, whether they are novices or experienced professionals. You have the proper idea if you believe that this website would work with traders from the United States of America because the broker was founded in New York in the year 2003. The broker is of the ECN variety, and it is able to boast an outstanding regulatory program that will keep your funds and personal information in a location that is really secure.
FXDD Is The Broker That Suggests And Gives You Access To The Trading Platform That Is The Most Appropriate For You
You are not required to use any specific trading platform if you choose FXDD as your broker, which is both an unusual and a wonderful feature compared to those offered by other Forex websites. On the contrary, it provides access to the most trustworthy and reputable software kinds available on the market, and you are free to select whatever option best meets your needs. In addition, the FXDD website offers a specialized tool known as Platform Guru that may assess your requirements and, as a consequence, provide you with a recommendation that takes into account your own tastes. In general, the list of available platforms on FXDD broker includes the some of the most popular software types on the market, as well. These include MetaTrader 4, MTXtreme, AUTO, MoneyBookers Skrill, Neteller, PowerTrader (with/Currenex), VikingTrader (with/Currenx), FXDD Trader, Standard Spreads, various mobile versions for mobile trading from your tablet or smartphone, and numerous automated trading platforms.
Customer Support Services Offered by Forex Brokerage Firm FXDD
While you are trading on the FXDD platform, you will be presented with a wide variety of choices for customer service. In point of fact, the website has one of the greatest and most well-educated customer service people available to react to any questions or unique requirements you may have in a variety of languages and at any time of the day or night. You have access to the following options: phone calls, emails, and an integrated live chat that may immediately resolve any and all of your trading concerns or fulfill any need for more information you might have. It is important to be aware that the FXDD broker has an incredible education center, which allows novice traders to pursue their advanced education as well.
FXDD Broker Features, Options, and Accounts FXDD Forex broker enables you to open both individual trading accounts for private traders and corporative trading accounts if you are a financial firm. Individual trading accounts are for private traders, and corporative trading accounts are for financial firms. Take note that the minimum deposit required for the ordinary private account is $100. This is a rather typical figure that both experienced traders and newcomers to the sector may afford. The trading tools available on the site are the standard ones, including a large number of various pairings of foreign currencies, precious metals, equities, and indexes. Trading with binary options is another alternative available through the FXDD broker. The leverage is set at 200:1, and the following payment methods may be utilized for both deposits and withdrawals: debit and credit cards, wire transfers from regular banks, PayPal, BPS, and Click and Buy.
Find out More About the Generous Bonus System on the FXDD Forex Platform.
The FXDD broker places a significant amount of emphasis, both in theory and in practice, on the concept of large abundance. In addition to the vast number of Forex trading platforms that are available on the website, there is also an incredible selection of bonuses available there. Visit the trading page of FXDD to learn more about the many sorts of bonuses offered, as well as their fundamentals:
The FXDD platform is pleased to announce the availability of a welcome bonus up to one hundred percent. This indicates that whatever the primary deposit you make will be, you will have it doubled and placed in the e-wallet associated with your account.
The demo account provides you with a terrific opportunity to trade without risking any of your own money, while yet appearing in a genuine environment in order to evaluate the capabilities of the specific platform that you have selected from the FXDD software list.
You are eligible to make a claim and submit an application for participation in a unique loyal customer program at the FXDD trading platform as soon as you become a regular customer there. It is important to keep in mind that these programs are not often published directly on the page; rather, you are expected to contact the customer service specialists at the FXDD homepage in order to obtain further information.
Why FXDD is the Best Option for You When Choosing a Forex Broker Find out why we are recommending the FXDD platform to you so strongly right now by reading our comprehensive list of the main advantages associated with it:
Detailed instruction for choosing the right platform
Trading tools that are unique and intriguing in their variety.
It is safe to say that FXDD is a trustworthy online broker for traders of all experience levels. The key advantages it offers include social trading options, competitive pricing and execution, user-friendly platform management, and a lengthy history (back to 2002).
FXDD is a foreign exchange (Forex) and contracts for difference (CFD) firm that operates out of Malta. FXDD was established in 2002 and has offices in both Malta and New York. The company provides access to six different asset classes. Individual investors as well as institutional investors, hedge funds, money managers, and introducing brokers can take use of the trading solutions they provide. FXDD operates two websites: FXDD.com, which is based in Malta and caters to traders residing in Europe; and FXDD.com. FXDD Trading FXDDtrading.com is based in Bermuda and welcomes trading customers from throughout the world (except USA).
FXDD is a well-respected industry leader that adheres to all applicable rules and keeps its customers' money separate. The company is in possession of a Category 3 License from the Malta Financial Services Authority and does business in accordance with its regulations (MFSA). FXDD is authorized to provide cross-border services within the European Economic Area in accordance with MiFID II, which is the Markets in Financial Instruments Directive of the European Union (EEA). FXDD Malta is licensed to conduct business and offer cross-border investment services in all of the countries that are members of the EEA. These countries include, but are not limited to, the United Kingdom (FCA), Italy (CONSOB), Spain (CNMV), and Poland (KNF).
For the purpose of this study, we tested out FXDD using their premium account. In addition, we gathered secondary data from reliable sources and read evaluations that were produced by users.
The Markets in Financial Instruments Directive, often known as MiFID II, and the Malta Financial Services Authority both oversee FXDD's regulatory compliance (MFSA).
What Do Competing Forex and CFD Websites and FXDD Customers Have to Say About the Company? Even if there is a wealth of information readily available about each and every broker in today's world, making a deliberate choice is not made any simpler as a result. The sheer volume of data available to traders may rapidly become overwhelming and lead to confusion rather than providing them with clear solutions.
We have combed through authoritative user-generated and broker listings/reviews websites in an effort to, with any luck, provide additional clarity on how well it is received by its customers.
The vast majority of websites of this type give a direct stream of consciousness by traders, some of whom are upset while others are delighted. Because of this, it is very crucial to keep in mind that some of the evaluations will consist of nothing more or less than such statements.
Given that a significant number of traders sustain financial losses and may turn to websites such as Forex Peace Army (FPA) to air their grievances, our objective is to differentiate between reviews that are more subjective and reviews that are less subjective, and to present our perspective, which is necessarily limited. The evaluations of FXDD on FPA are not exactly gentle, but the criticism has been aimed at the service for more than 5 years. Because there have only been a few new reviews added in the past two years, we are unable to draw any conclusions.
FXDD has received a review of four stars from a number of other review websites, including Forexbrokers.com and DailyForex. FXDD is rated with 5 stars by Forex-ratings.com, however one other website only offers it 1.5 stars, and two other websites only give it 3 stars. There are a total of 7 ratings, and the average rating is 3.14 stars.
The interaction with FXDD's customer care was, on the whole, a very satisfying one. Live chat, email, and the ability to request a callback are all available with FXDD. The responses to all of our questions and concerns were provided in a timely and expert manner. In addition to English, Italian, and Spanish, FXDD provides access to three other important languages spoken across the world. Instead of assigning account managers to customers, FXDD prefers to provide the same high quality of service to each and every one of its clients.
FXDD provides its customers with three distinct account types: DEMO, STANDARD, and PREMIUM, all of which provide minimal spreads and protection against negative balances.
The STANDARD account has a minimum initial deposit of $25, enables you to trade using micro lots, and presents a lesser amount of risk than other accounts. You are able to trade with normal lots using the PREMIUM account, which requires an initial deposit of a minimum of $2,000 from you.
In addition, a dormant fee of $30 will be assessed when an account has been inactive for three months.
Also keep in mind that the location of origin of the account has an impact on the amount of leverage that is accessible. Because of ESMA regulations, the maximum leverage that EU traders can employ is set to 1:30 by default. This limit is in place to protect traders.
There are more than 50 different currency pairings accessible, spanning from the most important to the least important currencies and even including some bizarre ones. The list of exotic pairings included several unusual alternatives, such as EUR/ZAR, GBP/ZAR, USD/NOK, EUR/MXN, USD/SGD, and many more. The list of majors included the standard EUR/USD, GBP/USD, and USD/JPY currency combinations. Majors also featured USD/JPY.
CFD trading is available on around 34 different indices. This encompasses the most important stock markets as well as indexes.
Traditional commodities, including metals (gold and silver) and energies, are available for trading by market participants (oil).
Customers have the ability to trade in the following five major cryptocurrencies: Bitcoin (in both USD and EUR), Litecoin (in USD), Ethereum (in USD), and Ripple (in USD).
Your FXDD account provides you with a number of different options for transferring money into and out of the account. FXDD is able to accommodate the Local Payment Methods that are now the most used, such as Credit/Debit Cards, Neteller, Union Pay, Bank Wire Transfer, and many others.
The procedure for adding money to an account is generally available around the clock and is handled entirely automatically. FXDD takes care of all the fees associated with transferring funds for one transaction every month at no additional cost and does not charge any hidden fees or commissions for deposits of monies.
Demo accounts in addition to genuine ones Clients of FXDD have access to as many as 4 trading platforms, each of which supports market, limit, stop, and trailing orders, and all of which may be accessed directly from a single account. This speeds up trading processes and provides traders with a great deal of freedom, allowing them to trade easily from any location and at any time. At FXDD, the award-winning trading platform Metatrader 4 is compatible with an unlimited number of actual and demo accounts, and it also supports Expert Advisors (EAs).
The following is a list of the trading software that is available: Web Trader and ZuluTrade in addition to the MT4 and MT5 Terminals, which are compatible with a broad variety of devices.
Traders need still ensure they have access to Elite CurrenSea's Wizz, Camarilla indicators, and SWAT or CAMMACD tools in order to successfully engage in trading.
In addition, FXDD is able to meet the requirements of investors who favor mobile trading on smartphones and tablets. The MT4/MT5 mobile applications for Apple and Android make it possible to access the full functionality of trading accounts and to trade in a seamless manner from any location at any time.
The Research and Education Center offered by FXDD was not as extensive as those offered by other brokers; however, this will soon change as a result of the collaboration between Elite CurrenSea (ECS) and FXDD.
Webinars, films, and analyses of the market will be provided by ECS.
Technical analysis with Nenad on a daily basis
Wave analysis performed daily with Chris
Webinars with live trading action
Webinars presenting live instructional content
Videos on the market that provide trading suggestions
Other features offered by FXDD include the following:
Trading calculator VPS service
Other analyses of the market
Blog-related tools and content are translated into six different languages. Clients are able to maintain an up-to-date knowledge of global markets and regularly improve their trading abilities as a result of this service.
FXDD is a widely used online broker that caters to traders of varying experience levels. Negative balance protection, deposit insurance for retail traders, and market research and webinars from Nenad, Chris, and Elite CurrenSea are among its key advantages. Other advantages include cheap pricing, a long history, and recognized industry leadership (2002).
FXDD is the broker of choice for traders who are searching for a reputable MetaTrader broker that provides both MT4 and MT5 due to its extensive market selection and affordable pricing.
Maltese broker FXDD, which is owned by Triton Capital Markets LTD, assures
traders of flexibility as well as competitive pricing and execution. In addition
to this, it emphasizes that the quality of its customer service, the expertise
of its staff, and the sophistication of its technology all contribute to an
improved trading experience. Traders have the option of using either the MT4 or
MT5 trading platforms or the proprietary WebTrader, which, in contrast to the
majority of other trading platforms, fully enables automated trading. I
conducted an analysis of this broker to determine its trading environment and
see whether it lives up to the price and technology promises it makes. Is FXDD
the broker that best suits your needs?
The fact that algorithmic trading is supported on the FXDD proprietary trading platform is something that I like. Unfortunately, FXDD's Maltese-regulated brokerage does not support algorithmic trading through the company's platform.
The initial glance at FXDD:
There is support for algorithmic trading on all three trading platforms, as well as high-speed order processing and a fill rate of 99 percent.
Only FXDD's FSC brokerage is authorized to engage in algorithmic trading; the company's Malta operation is not permitted to do so. Limited asset selection and no cryptocurrencies are offered by FXDD.
A commission-based pricing system that is reasonable, yet the commission-free offer is quite expensive
A high price for inactivity after ninety days, as well as penalties for internal withdrawals
There is no educational material provided for novice traders.
Trading Central add-on for the MT4 platform
Trading with a broker who is subject to regulation will reduce the risk of being a victim of fraud or malpractice. Traders should always check for regulation and verify it with the regulator by confirming the given license with their database. This may be done by providing the license number. Clients of FXDD have access to two different regulatory bodies.
The following are some of the reasons why I like the Mauritius subsidiary:
The decision to permit algorithmic trading from FXDD's Mauritius business was an internal one and had nothing to do with the regulatory climate in either Malta or Mauritius.
Protection against a negative balance.
Keeping separate the cash paid in by customers and those paid in by the business.
Market circumstances that are open to negotiation
What is it that is lacking?
Insurance for third parties
Transparency with regard to the fundamental members of the executive team Notable:
An investor compensation fund that covers up to 90 percent of deposits or €20,000 is made available by the Maltese subsidiary.
The regulatory history of FXDD is completely spotless.
Triton Capital Markets LTD is the owner and operator of forex trading platform FXDD.
The fact that FXDD has been in business since 2002 is more evidence that traders may put their faith in this broker. In addition to providing customer assistance for more than 400,000 clients, the company maintains offices in both Malta and New York. In general, trading at FXDD is conducted in an environment that is honest and dependable.
When considering a Forex broker, the trading expenses are one of the things that are most important to me because of the direct influence they have on my profitability.
FXDD gives traders a choice between two different pricing structures:
Costs for commission-free trading begin at 1.7 basis points, which is equivalent to $17.00 every 1 standard round lot.
The minimum spread for commission-based accounts is 0.2 pip, and the commission rate is $5.98 every round lot, for a total cost of $7.98.
The commission rate for standard round lots traded in currency pairings other than EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and EUR/JPY is now $9.98.
FXDD is one of the more costly brokers, charging equity CFD traders $16.00 every round deal, making it one of the most expensive.
Forex traders need to decide which type of pricing environment to use.
I would advise doing the following:
The price structure that is based on commissions is far more affordable, particularly for dealers who deal in all seven currency pairings. For the lesser commission, FXDD notes are provided.
Equities traders need to be aware of the high commission fees that come on top of higher spreads, which together make equity CFD trading highly pricey.
Where does FXDD fall short, exactly? A refund scheme that is determined by volume for high-volume traders.
It is significant that there is no volume-based rebate program, which maintains the commission-based pricing structure as one that is more expensive in comparison other brokers that offer similar services. Even while the minimum expenses are reasonable, they are far more than those of many of the company's rivals, whose typical spreads range from 0.0 to 0.1 pip. According to FXDD, they range from 0.2 to 0.3 pip spreads.
When compared to those forex brokers who offer the most favorable trading conditions for seven different currency pairs, the fees of trading at FXDD are, on average, more than fifty percent higher.
All leftover Forex crosses are up to 300 percent more expensive
The equity trade cost is more than twenty dollars each transaction.
Swap rates on leveraged overnight positions are often one of the most overlooked fees associated with trading. It's possible that it will become the most significant charge each transaction, but that will depend on the trading plan. Before determining the entire costs associated with trading, it is imperative for traders to first evaluate the current swap rates.
FXDD provides a positive swap on qualified short positions, which means that traders have the opportunity to earn money by holding contracts overnight.
Traders using MT4 or MT5 can log in to their platform and obtain the swap rates by following these steps:
1. In the Market Watch window, right-click the symbol you want to examine, and then pick the Specification option.
2. Go down the page until you find the Swap Long and Swap Short options.
The following is a list of trading cost examples for buying and selling the EUR/USD and the EUR/GBP currency pairs using an FXDD account that is based on commissions. The examples cover holding the transaction for one night and seven nights.
After 90 days of inactivity on your account, FXDD will charge you a $30 monthly fee.
There is a minimum order requirement of $50 for transactions involving a single stock.
There is no mention of any currency conversion fees in the terms and conditions.
Withdrawals that are less than $100 are subject to a $25 fee.
For the second withdrawal made within a given month, FXDD will charge an internal withdrawal fee of $40.
FXDD only offers a restricted variety of assets, and cryptocurrencies are conspicuously absent from this offering. Forex traders can choose from 54 different currency pairings. Every one of the trading fees is unreasonably high; the only exceptions are the seven assets that are eligible for the lowest commission. Therefore, scalpers and high-frequency traders with a targeted strategy that requires limited but liquid assets would find FXDD to be a perfect trading platform.
The absence of cryptocurrencies is the single most significant source of dissatisfaction.
The equities CFD list, which is still limited to a few large-cap firms, does not include any options from the mid-cap or small-cap markets, which I would like to see included.
FXDD is unable to provide clients with worldwide exposure because they exclusively provide CFDs on US-listed stocks.
ETFs are not yet offered, which is another another critical omission on FXDD
FXDD limits the leverage available to regular customers to 1:30, while experts have access to 1:100. In my opinion, this makes it difficult for both groups of traders, which in turn reduces the flexibility and profitability of trading. FXDD mentions a number of different leverage options for its Mauritius brokerage but does not provide further information.
FXDD provides the same two account kinds, but distinguishes them based on the regulatory body they fall under. The FSC subsidiary provides the most adaptable trading conditions of the two.
Traders have two options to choose from when deciding what sort of account to use:
a commission-free account or one that is dependent on commissions
Trading using algorithms or trading via human intervention
My thoughts and observations on the various FXDD account types:
Because FXDD's MFSA unit does not permit algorithmic trading, algorithmic traders are required to create an account with the FSC subsidiary.
FXDD does not demand a minimum deposit
There is a listing of the FIX API for both subsidiaries on the account summary page, but FXDD does not mention it anywhere else on its website.
There is a choice between corporate and Islamic accounts.
The Standard Account, which does not charge commissions, has an excessively high markup, thus the ECN Account, which does charge commissions, is the more practical choice.
FXDD, in contrast to the vast majority of ECN brokers, does not make raw spreads available to its customers. The company's minimum mark-up is 0.2 pips, which is unacceptable for an ECN execution model.
Only the company's proprietary WebTrader is eligible for the commission-based account, which unfairly discriminates against MT4 and MT5 traders.
Due to the varied regulatory contexts, picking the operational unit is the most important option that can be made about the accounts.
Due to its ill-advised account structure, FXDD does not offer the necessary infrastructure for scalping or algorithmic trading, despite the fact that both of these trading strategies are supported by the company.
Although FXDD mentions the benefits of the FSC unit, it does not provide any specifics.
Despite the fact that FXDD does not permit algorithmic trading at its MFSA brokerage, VPS hosting is offered by both of the company's subsidiaries.
Sample accounts may be opened with FXDD; however, they only last for a period of ninety days, which is a disappointing constraint considering that many other brokers provide limitless demo accounts. However, ninety days is a relatively long period of time to put trading methods or the platform's usability through their paces. As another piece of advice for novice traders, I strongly advise against utilizing a demo account as a form of education. It leads to traders having expectations that aren't realistic, and the lack of trading psychology reduces the instructional value of the experience.
Traders get access to out-of-the-box versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms with FXDD. In addition to this, it is improved by the use of the Trading Central MT4 plugin, which provides customers with a more competitive trading experience. Desktop clients, web-based alternatives, and mobile apps are all available for MT4 and MT5 trading platforms.
Additionally, FXDD maintains its own proprietary WebTrader, which provides automated trading solutions comparable to those offered by MT4 and MT5. The majority of brokers, however, are solely concerned with manual traders because they do not include it in their own products. The web-based version of FXDD served as inspiration for the development of the mobile app. It is a unique mobile alternative that enables the construction of automatic trading solutions while the user is on the move. As a result, it is one of the most advanced mobile trading applications available throughout the whole industry.
The Trading Central MT4 plugin is one of my favorites since it extends the functionality of the standard MT4 trading platform. It is made up of a variety of trading tools of a high quality, and it gives customers an advantage by doing things like recognizing chart patterns automatically. The automated trading solutions are supported by the MetaTrader 4 VPS Hosting. The service has a monthly fee that ranges from $30 to $85 unless the customer has a minimum monthly volume of 5.0 lots and a monthly trading volume of $2500 or more.
In addition to the services provided by Trading Central, FXDD has an analyst on staff who is responsible for developing high-quality in-house trading ideas and market analysis. Another component of FXDD's database contains theme research and was most recently updated in August of 2020.
Additionally, FXDD obtains its in-depth statistics from TraderMade, which provides a multitude of trading ideas on a daily basis. A competing offering is represented by the research department as a whole, particularly Trading Central and TraderMade.
There is no educational information provided for new traders, however FXDD does provide five trading tutorials that cover the different currency pairings. Although the quick introductions are appropriate, I strongly advise traders to seek knowledge from reputable third parties that is provided free of charge in order to get a more thorough overall educational strategy.
Support for customers is accessible from Sunday through Friday between the hours of 17:00 and 16:55 Eastern Standard Time (EST).
Before contacting a customer support agent, traders need to familiarize themselves with the Frequently Asked Questions area.
For non-urgent problems, I prefer live chat
FXDD offers phone help, which is great for urgent situations, and maintains a trading hotline just for clients.
The Malta office of FXDD does not offer any bonuses or promotions to its customers. Even though they are mentioned in the introduction to Mauritius, FXDD does not offer any specifics.
When opening an account for the first time, new traders will need to complete a somewhat extensive online application that includes a questionnaire. In order for FXDD to continue to maintain compliance with its regulators, including the requirements imposed by AML, the second step, which involves verifying the account, is required. This phase is often completed by providing a copy of the trader's identification document and one document to verify the trader's place of residence; however, FXDD may need more information.
In the safe environment of FXDD's back office, any and all financial dealings are conducted. FXDD, to our regret, does not give a great deal of information on the various methods of deposits and withdrawals.
The FXDD website displays logos for bank transfers, credit/debit cards, Neteller, and UnionPay, however the company does not provide complete clarity on the payment methods that are accepted.
Deposits continue to be free of charge, although fees imposed by third parties may apply.
One withdrawal per month is provided free of charge by FXDD; further withdrawals cost $40, and bank wires must meet a minimum threshold of $100 to avoid an extra $25 in internal expenses.
Deposits can be made with USD, EUR, GBP, JPY, or CHF in addition to BTC at FXDD.
At FXDD, the extraordinary lack of openness about deposits and withdrawals is unacceptable and should be addressed immediately.
In the event that problems emerge with finances, a hotline is available 24 hours a day, 7 days a week.
The payment processor with the lowest fees should be the one that merchants use.
If you don't have access to a debit or credit card, you should also investigate the fees associated with transferring money from the payment processor to the bank account.
When it comes to day-to-day financial transactions, it is best to utilize a method that is not associated with a bank or a credit/debit card.
Because it has three trading platforms that facilitate algorithmic trading, the trading environment at FXDD is one that I really enjoy. Aside from that, the cost structure is pretty high, and FXDD only permits its somewhat cheaper commission-based alternative for trading through its proprietary WebTrader platform. Moreover, the cost structure is relatively high. The practice of algorithmic trading is prohibited on FXDD's Maltese brokerage platform, however the company does provide algorithmic traders with VPS hosting and access to the FIX API. FXDD's research, which it does in cooperation with Trading Central and TraderMade, is one aspect of its offering that adds value, but the company's total product and service range leaves plenty to be desired.
The FXDD (FX Dealer Direct) is a rather well-known foreign exchange (Forex) broker, and its headquarters can be found in the middle of the financial area in New York City. It is important to remember that the Malta Financial Services Authority oversees the activities of the firm and regulates them accordingly (MFSA). This is rather a trustworthy and credible regulatory agency, with norms and standards that are in complete compliance with the terms of the EU Markets in Financial Instruments Directive (MiFID). When it comes to organizing the trading process on the Forex market, the business FXDD makes it a priority to provide the most efficient solutions possible and makes use of cutting-edge technologies. These advancements have been designed specifically to be of assistance to both individual and institutional Forex traders, as well as to make the traders' businesses more productive and lucrative.
The company FXDD has been honored with a significant number of important awards. The following are some of the accolades that have been bestowed upon this Forex broker: Most Trusted Forex Broker Europe 2012, Best New Platform 2012, Most Transparent FX Broker 2011, Jordan Forex Awards 2011, and so on. Learn about the most recent news and accomplishments of the brokerage business FXDD by visiting the area of the TopBrokers.com website devoted to foreign exchange brokers.
The foreign exchange broker The instructional resources provided by FXDD are of the highest possible quality. Unfortuitously, each and every one of them is written in English, which poses a significant challenge for businesspeople who communicate primarily in Russian. Every day, the firm FXDD hosts seminars with some of the most respected and well-known names in the trading industry. And yet every single one of them is conducted in the English language. You are more than welcome to register for a demo account if you would like the opportunity to improve your trading abilities and get further information without putting any of your own money at danger.
The fact that consumers of the brokerage business FXDD may receive assistance in one of thirteen languages and around-the-clock assistance makes the company's customer support service a significant competitive edge. The consultants have a propensity to find solutions to any problems in the quickest and most effective manner feasible. The research provided by Forex broker FXDD is comprised of the most recent news as well as market reviews, in addition to a wide variety of useful services (such as an economic event calendar and calculators with a specific emphasis, among other things). Regrettably, each and every analytic piece of information and the aforementioned services are only made available in the English language. It is important that you pay attention to the FXDD review.
Traders have voiced their dissatisfaction with the limited number of promotions, incentives, and contests offered by the forex broker FXDD. You have the opportunity to trade in a wide variety of financial assets, including the most liquid currency pairs, indexes, CFDs, stocks of the world's leading firms, metals, and oils, amongst many others. Because there is such a diverse selection of tools, each client has the ability to pick the strategy that appeals to him or her the most and looks to provide the most potential for success.
As trading platforms, you may choose between MetaTrader 4, Viking Trader, and a web-based version of MetaTrader 4. The FXDD is now working on developing its own referral program, which might provide you with an extra source of revenue. This business is a perfect match for the trading accounts managers since it possesses a collection of trading and administrative software of a high quality, which enables it to carry out large-scale trading.
In addition to this, we are able to name the following benefits of FXDD as important advantages: - tight spreads; - the guaranteed order execution at the expected price; - the clients' deposits are kept in the segregated accounts; - interactive training classes tutored by the master analysts on a daily basis; - the high-quality deals execution without failures.
If you are interested in viewing the FXDD review of the forex broker, click on the link below. The independent traders who have worked with the broker in the past have provided their feedback on their experiences in this area of the TopBrokers.com platform. If you would want to, you can also give your testimonial or just discuss with the other employees how you found working with the FXDD to be beneficial. Webinars hosted by FXDD are available to see.
Forex, contracts for difference (CFDs), equities, and commodities are only
some of the key asset classes offered by FXDD, an online trading broker. FXDD is
a worldwide brand that provides services to customers in over 200 different
countries, some of which include the United Kingdom, Canada, Australia, Egypt,
Singapore, and the Philippines. In this analysis, we explore a variety of
topics, including trading platforms, account opening, laws, and more.
FXDD was established in New York in 2002, and its headquarters are currently located in Malta. Since 2004, when the current CEO took over, the firm has seen the opening of 400,000 new accounts while he has been at the helm. FXDD Europe is authorized to offer its services in all of the countries that make up the EEA in accordance with the MiFID law that was passed by the EU. This authorization comes from the Malta Financial Services Authority (MSFA).
The FXDD worldwide brand is owned by FXDD Malta Ltd, which is a company based in Malta. Some of the services are contracted out to FX DirectDealer LLC in Jersey City by the Malta business. Group trading licenses are shared between FXDD Mauritius, FXDD Bermuda Limited, and other FXDD subsidiaries. Customers come from all around the world, including Japan and Indonesia.
FXDD provides a number of trading platforms, each of which is suited to a certain degree of expertise. A mobile trading application is included with every platform.
ZuluTrade is another copy trading platform that customers may take advantage of from FXDD Mauritius and FXDD Bermuda Limited.
FXDD provides customers with an enhanced trading experience by offering a free download of the well-known and widely used MetaTrader 4 platform, which has been augmented with proprietary technologies. You may trade using MT4, which can be downloaded to desktop devices, or you can use popular web browsers.
Some of the highlights of MT4 are as follows:
Video lessons and instructions
VPS hosting as a possible alternative (for a small fee)
To facilitate automated trading, expert advisers
Multiterminal is a system that allows users to access several accounts through a single interface.
Highly configurable user interface backed by industry-leading charting package
FXDD MetaTrader 4 FXDD MetaTrader 4
Additionally, the broker provides access to the MT5 platform, which is designed for more advanced traders and can be downloaded for free on desktop computers and through the majority of popular web browsers.
The following are some of the highlights of MetaTrader 5:
Tester of the improved strategy
A variety of different kinds of pending orders
Trading instruments with advanced graphical interfaces
MT5 comes equipped with a built-in economic events calendar and a 1-minute historical data option that can be included straight onto charts.
Integrated market for purchasing or renting technical indicators and signal providers
FXDD MetaTrader 5 FXDD MetaTrader 5
This trading platform is a customized solution created over the years by the broker specifically with the requirements of sophisticated users in mind.
Some of the highlights of WebTrader are as follows:
Scripts are available for use.
Trading depending on one's position
Simple and fast procedures for registration
Execution of orders with a single click
Financials of the market broken down in detail
Charts of financial indicators that may be highly customized
Access to the following financial markets is provided to customers by FXDD:
On the foreign exchange market, there are 67 significant currency pairs, such as EURUSD, USDJPY, and GBPAUD.
Commodities such as gold, silver, and energies Stocks of companies such as Facebook, Apple, and Amazon Indices such as the UK100 and the GER30 Company stocks such as Facebook, Apple, and Amazon
Additionally, the broker provides access to binary options.
Spreads in the foreign exchange market offered by FXDD Trading Ltd start as low as 0.3 pips on the USDJPY and 0.7 pips on the EURUSD.
On the other hand, the broker levies commission fees on ECN accounts but not on Standard accounts for any trades that are executed using those accounts. In addition, the business levies swap rates on positions that are held overnight; more information on these fees may be found on the website of the brokerage.
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In accordance with ESMA standards, the maximum leverage available through FXDD is 1:30.
1:30 for Foreign Exchange, 1:20 for Commodities, 1:20 for Indices, and 1:5 for Stocks.
Both the MT4 and MT5 systems are compatible with mobile trading on iOS and Android smartphones. Traders may use either platform for mobile trading. The mobile product is capable of supporting comprehensive charting packages in addition to the trading capabilities that is available on the desktop terminals.
FXDD Mobile is an extra mobile trading application that the broker makes available to its customers. Users are able to obtain analyst perspectives and sources of worldwide news with this app, which features an intuitive user interface. Users may do this while they are on the road. The program gives traders the ability to manage deals with a single click of a button by utilizing data refresh feeds in conjunction with high-speed server speeds.
Clients are not charged any fees when they use the FXDD client interface to deposit monies into their accounts. The broker will take deposits in a variety of currencies, including US dollars, euros, and British pounds, with a minimum deposit of one pound or one dollar.
Deposit techniques include:
Cards granting credit
Neteller, Skrill, PayPal
Customers are required to fill out a money withdrawal redemption form in order to withdraw winnings. Redemption requests need 24-48 hours to process. Through the use of the funds transfer form, customers may move money between preexisting accounts as well as open brand new accounts.
The broker will not charge you for the first withdrawal you make during each calendar month; however, there will be a fee of $40 for any further withdrawals you make. A wire withdrawal has a minimum redemption requirement of $100, and there is a charge of $25 for all redemptions that fall below this threshold. FXDD recommends that customers call them if they experience any difficulties with the withdrawal process.
Demo accounts are available for use on all of FXDD's trading platforms. In order for customers to have the opportunity to put their talents to the test with risk-free virtual cash totaling $3,000, they are need to fill out an online registration form. Demo accounts are active for a period of ninety days; however, customers can ask for more time by contacting customer service.
Demo accounts give users the chance to become familiar with the software that is used by the FXDD trading platform and to practice trading instruments such as foreign exchange. However, it should be noted that the price for the demo accounts, while suggestive of the pricing for live accounts, does in fact change somewhat from genuine pricing.
At the time of this writing, there are no promos or incentives available. This includes a welcome offer for new accounts and a bonus that does not need a deposit. Despite the absence of incentives, competitive trading conditions are still provided, therefore this should not prevent individuals from registering accounts.
The Malta Financial Services Authority has granted FXDD authorization and oversees its operations (MFSA). Because of this, the forex broker adheres to the safety regulations established by the EU, including the separation of customer funds.
The online trading broker also complies with the EU's MiFID II (Markets in Financial Instruments Directive) and is authorized to offer its services anywhere within the European Economic Area as a result of this compliance. As part of this initiative, FXDD releases yearly reports on their Regulatory Technical Standards (RTS28), in which they disclose the top 5 execution venues for client orders.
Users are further protected by the Investor Reimbursement Scheme, which is managed by the MFSA and offers compensation of up to 90 percent of the value of any investments made up to a maximum of €20,000.
The website of FXDD provides users with a comprehensive educational platform that includes training guides and tools like as margin calculators, position size calculators, and rollover rate calculators.
In addition, the broker provides clients with online access to market analytics on a daily and weekly basis, as well as instructional material, a blog, and an economic calendar. There are trader manuals available for a variety of subjects, including currency pairings, developing markets, and commodities, amongst others. In addition, there is a comprehensive lexicon that provides rankings for financial terminology as well as a frequently asked questions area.
After submitting the necessary paperwork, customers of FXDD can choose from one of three distinct account kinds. The process of opening an account is same across all accounts and requires the submission of identification issued by the appropriate government agency as well as evidence of current address. FATCA provisional questions are required to be answered on the account opening forms as well.
After your account has been validated, you will have access to the customer site, where you may log in and make a deposit of a minimum of one pound or one dollar. On the website of the broker, one may get comprehensive information on the procedure of setting up an account.
These are the available account options:
Mini, Micro and Standard Accounts. Spreads, rollover rates, chart types, and cost structures are same across all account types.
Two different price models are available for customers to trade on:
Standard price (which is only accessible on platforms powered by MetaTrader):
No partial fills
Spreads that are below the norm
No commission per trade
Guaranteed zero slippage on entry orders
ECN pricing is something that is offered on both the MetaTrader and WebTrader platforms.
No partial fills
Rapid carrying out of the sentence
Exceptionally high fill rate, greater than 99 percent
Raw, straight spreads that have not been marked up in any way.
The biggest currency pairings only incur a charge of $0.0299 every 1000 trades.
The following are some of the features of FXDD as a broker when compared to XM or FXCM:
Trades that are conducted automatically
$1 minimum deposit 24/5 multilingual customer support
Trading accounts that do not use swaps and are compatible with Islamic law
Multiple trading systems, including MT4 and MT5, are available for use.
Protection against having a negative balance is place for all retail customers
Licensed by the MFSA and offering protection for investor compensation investments
Trading with FXDD has a number of drawbacks, including the following:
After ninety days of inactivity, there is a fee of $30.
There is a charge of $25 for all withdrawals of less than $100.
Charges incurred for withdrawals of more than one payment in a given calendar month
Business & Finance:
The broker adheres to the industry-standard trading hours, which normally run from Sunday evening (5:00 pm) until Friday evening (5:00 pm) (EST). There is a possibility that the monthly trading hours will vary depending on the instrument, and any adjustments will be communicated in the current news section of the broker's website.
FXDD provides multilingual customer care, including Arabic and Spanish, around the clock and every day of the week:
Email address for customer service is email@example.com. The phone number is (+356) 2013-3933.
the location of the mt Address is as follows: FXDD Malta Ltd., K2, First Floor, Forni Complex, Valletta Waterfront Floriana, FRN 1913, Malta.
On the page that serves as the client contact gateway for the broker's website, there is also a call back option and a live chat engine that can be accessed by clicking on the respective logos on the page's right-hand side.
Both the MT4 and MT5 systems provide high-tech encryptions, safe logins, and data privacy that is on par with industry standards. Access to any account or portal requires a username and password at all times.
FXDD facilitates straightforward online trading across a variety of financial items, including equities, commodities, and currencies. Users of varying skill levels are accommodated thanks to the availability of the recognized industry platforms MetaTrader 4 and MetaTrader 5, in addition to the WebTrader platform provided by the broker. Because we were glad to find authentic regulation and investment compensation protection throughout our investigation, we have high levels of confidence that the broker is not a fraud.
FXDD welcomes traders from most countries, including the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar, as well as Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, and most other nations.
Traders located in the United States are unable to utilize FXDD.
In order to create a live account with FXDD, what kinds of documentation are required? You will need to present a picture identification card issued by the government and documentation of your current residence that was issued within the past six months. During the onboarding process, you will be expected to demonstrate that you are who you say you are by utilizing the online verification tool.
Is FXDD subject to regulation? The Malta Financial Services Authority (MFSA) and the Mauritius Financial Services Commission both regulate and license the broker, so you may trade with them with confidence (MFSC).
Does FXDD impose a fee on transactions made using their platform? Customers that use the broker's normal pricing are not assessed commission fees for transactions they execute, however the broker does assess fees for customers who use its ECN accounts.
What kinds of currencies are accepted for deposits at FXDD? FXDD allows customers to make deposits and withdrawals in the following currencies: USD, EUR, GBP, JPY, CHF, and BTC.
Is FXDD a reputable company or just a scam? FXDD is a genuine business that is authorized to conduct operations in the EU as well as other regions. The broker is subject to regulatory scrutiny from not one but two respected authorities, and they receive favorable feedback from their clientele.
FXDD Malta Limited is a company that has been approved by the MFSA of Malta and has the registration number IS/48817.
FXDD Mauritius Ltd is approved by the Financial Services Commission of Mauritius and has the registration number C117017252.
The individual, corporate, and institutional clients of FXDD have access to a large array of investment options made available by this Malta-based provider of financial services. A customer may benefit from cheap spreads and no commissions thanks to the ECN-based technology, which also ensures that raw spreads and quotations are obtained directly from liquidity providers while maintaining an extremely low latency.
The organization has been in operation for 15 years, during which time it has serviced over 350 thousand customers and processed 7.3 trillion dollars' worth of transactions. The accessible trading markets include the execution of orders over stocks, commodities, and indices in addition to the presentation of cryptocurrencies like as bitcoin, ethereum, litecoin, and ripple.
FXDD is a registered broker that offers trading with minimal risk, a decent platform selection with research, and a choice of products that includes cryptocurrencies. The pricing is either based on a spread or a commission, depending on how it was created.
On the other hand, the standard of schooling isn't particularly great, and the spreads on standard accounts are quite large.
FXDD is not a fraud; rather, it is a registered broker that offers trading with little risk.
FXDD Malta Limited is a member of the EU and a company that carries an Investment Service Category 3 License. This means that the firm satisfies the legal criteria pertaining to financial service companies and is in compliance with the law. The Malta Financial Services Authority is the entity that grants and oversees compliance with this license.
Due to the fact that the firm is a European regulator, it is authorized to offer its services inside the EEA zone, and it is registered with the partner EU authorities as being subject to the regulations of the MiFID.
Additionally, there is an extra entity of FXDD, which is registered by the offshore jurisdiction of Mauritius. This, in conjunction with European legal requirements, positions FXDD as a reliable business partner.
In general, the registration gives compliance and safety management to the assets of the clients, while the security given by the variety of stringent standards imposed by the authority protects the clients at every stage of the process.
As is the case with the vast majority of Forex brokers, FXCC allows its clients to make use of leverage, which is a formidable instrument that may multiply the potential for profits by allowing for multiple starting account balances. On the other hand, leverage should be utilized with caution because it boosts the power of both winners and losers.
The degree of leverage available to you will vary based on the instrument that you trade as well as the regulatory constraints that are in place and your own particular level of expertise. Because of this, it is possible to trade with an enhanced level of up to 1:30 thanks to the available leverage; however, expert traders may be entitled to a greater leverage of 1:100.
Based on the pricing models, the firm FXDD made the decision to provide two distinct account types, which resulted in the account types Standard and ECN being offered through both of its platforms, MT4 and MT5.
Additionally, the Demo account of both sorts is immediately accessible to new customers of the organization. After that, when the customer is satisfied with his level of knowledge, the next step, which is the simple and rapid registration of a real account, is carried out.
Standard account price provides customers with minimal spreads and does not impose any commission fees, all without lowering the excellent standards of execution and service delivery maintained by the organization.
When you trade using an ECN account, you will receive straight raw spreads without any markup; the only cost associated with each transaction will be the fee. The commission for trading major currencies is normally 0.0299 dollars per 1,000 units, whereas the commission for trading other instruments is typically 0.0499 dollars.
Spreads Depending on the type of account you have, you can see some of the FXDD Standard spread for commonly traded products.
A rollover or overnight fee is a cost that should always be taken into consideration. This price is imposed on positions that are held for more than one day and is defined differently by each instrument. You can also view some of the samples I've provided above, and you can check out the most recent updates using the FXDD platform.
The numerous ways to make deposits or withdrawals of monies are carried out using the most practical and secure means of conducting financial transactions. The customer portal is responsible for requesting each and every transaction, and the available payment methods include Credit and Debit Cards processed by SafeCHange, as well as UnionPay, Neteller, Skrill, and Wire Bank transfers.
If you deposit at least the required minimum of one hundred dollars into either of your FXDD accounts, you will be able to switch from a demo to a real money trading account. During the course of your trading, you should never forget to double verify the required margins for each individual instrument.
FXDD does not assess any fees for the process of making a deposit, and you are free to withdraw funds whenever it is convenient for you. FXDD offers a variety of withdrawal options, including bank wire and cards, and the broker will pay the fees associated with the customer's initial withdrawal during each calendar month. The minimum amount that may be redeemed is set at a hundred dollars, and any more redemptions may result in an additional truncation cost of forty dollars.
The FXDD variety of platforms includes the well-known MetaTrader, which is used by many manual and automatic traders across the world. Traders have the option of opening either a Standard or an ECN account with FXDD. In addition, the supplied platforms include both the veteran MetaTrader4 as well as its more recent version, MetaTrader5, which is not only a standard feature but is also improved by the broker edition with systems that have been optimized.
The platforms themselves are meant to be used through Windows, Mac, the web, and smartphones running iOS and Android.
In addition, the business promises to improve the functionality of MT4 by providing a VPS service. This service shields the platform from the effects of trailing pauses and makes it possible to execute numerous strategies continuously while reducing latency. The service is offered free of charge to those who keep a minimum deposit of 2,500 dollars and trade at least 5 standard lots each month; if you do not meet these requirements, you will be charged a cost of either thirty, forty, or eighty-five dollars (according to the VPS package level).
The web-based interface of the proprietary trading software offered by FXDD is another one of the company's platforms, which allows for convenient access at any time and from any location. The platform is a specialist feature designed for experienced traders, and it offers just an ECN pricing model and comes with a powerful charting package.
In addition to this, FXDD provides its users with useful guidelines and an introduction into trading for those who require it. The educational assistance and resources provided by FXDD make it possible for users to begin trading in the appropriate manner. In addition, the market research that is done by the professionals working inside the company provides daily insights into the marketplaces throughout the world.
The customer support team is available around the clock and puts their years of expertise to good use by working directly with customers; this is unquestionably an excellent development for you as a trader.
The FXDD Review discloses that there are favorable chances for investing on a worldwide scale, and it offers a variety of trading accounts, trading styles, trading tools, and trading features. Customers of FXDD are able to make intelligent investments and advance toward potential success thanks to the degree of customer service offered by FXDD, which is of the highest operating standards. Traders of every type may benefit from the most appropriate platform, an expanded selection of trading conditions, and a hassle-free environment thanks to STP technology. Traders can also trade in an atmosphere free from conflicts.
Sites like FXDD in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.