FXDD’s accounts do not have a definite minimum deposit requirement, although practically speaking, an amount of $250 or above is recommended for effective forex trading. After logging in to their platform of choice, traders will immediately see the forex pairs and other trading options with their fluctuating prices and other market information. Using FXDD’s Webtrader platform, it’s possible to perform various types of analysis by using charting tools including moving averages, candlesticks and other technical analysis features. By clicking on a currency pair, metal, stock, or other asset type, traders will call up a buy window that will let them specify the details of their trade and execute it almost immediately. The overall user experience is smooth and enjoyable, with a variety of informative trading tools that are intuitive to use.
However, when you’re done trading and what to withdraw your money, they’d ask you for all sorts of documentation, including even your own photo. Depending on the type of product, the numbers would change, but the usual fee was $40. The deposits, meanwhile, wouldn’t be charged at all and there would be a fairly large selection of transfer means .
Daily market updates and analysis, wave analysis, price action, webinars, and constant market data updates are some of the features that make FXDD an engaging and rewarding platform for forex traders. Overall, FXDD is a comprehensive, low-commission online forex broker with a good range of asset types and platforms to choose from. Traders who are looking for a budget-friendly, low deposit platform with a respectable number of forex pairs and other tradable assets will probably find a good deal of value in FXDD’s offering. Trading with FXDD can be done via the Metatrader 4, Metatrader 5 available for desktop and mobile, FXDD’s own WebTrader and the FXDD Mobile App, available for Android and iOS.
Their urge to let anyone in as smoothly as possible actually resulted in them being scammed by a fraudulent user who somehow manipulated the prices, which resulted in some funny litigation. They are a scam, however, and this was confirmed both by people who keep track of such malevolent brokers and by the authorities. Indices – 11 world indices, including US 30, UK 100 and NIKKEI 225.
Regulations and Money Protection
They are generally a fraud company, this much should be clear – there’s a lot of evidence. But if you put your finger on something specific, these several problems would be major. The local currency pairs don’t just include the big players, like USD, GBP and EUR, but also countless smaller currencies. They are less liquid and more volatile – but such abundance also means more depth and room for strategic thinking. When an account has been deemed inactive for a period of 90 days, FXDD will apply an inactivity fee of 30 USD.
In order to trade any of these products, you would need one of the two account types. Unlike many other brokers, they don’t have a ‘gradual access’ type of account division, but rather a technical split. Currently, FXDD trading accounts are available in USD, EUR, GBP, JPY, CHF and BTC. FXDD Malta Limited is a member of the Malta Investor Compensation Scheme , a rescue fund for customers of failed investment firms which are licensed by the Malta Financial Services Authority . Deposits are free on the FXDD system, and so is one withdrawal of funds per month.
Deposit fees – Trading accounts can be opened in 6 different currencies and maintained via different funding methods, including cards, bank wires and e-payments such as Neteller and Unionpay. To access the better trading conditions of the ECN , FXDD will charge a broker commission. With an ECN account, the standard lot commission for 1 lot is 6 USD commission (3.0 USD per side/per lot). We consider this commission to be quite in line with other top brokers. On one hand, you have a Standard account, which means you’ll be trading through this broker, and they’ll be your mediator with the other side. You’ll be paying moderate spreads, but they promise there won’t be any slippage.
Withdrawals fees – FXDD will cover the costs of the first withdrawal per calendar month. Additional redemptions within the same calendar month will be charged 40 USD and an extra 25 USD for bank withdrawals, if the amount is below 100 USD or equivalent. For accounts opened via FXDD Malta Limited there is a default NBP in place, protecting traders from any losses bigger than their original investments, in compliance with ESMA regulations. FXDD also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. FXDD holds client’s money separately to the company funds and does not use these funds for any operational expenses or purposes. FXDD complies with the highest safety standards for client’s funds.
Who Is FXDD Recommended For?
Also available the WebTrader, FXDD’s own proprietary trading platform, with a web-based interface for easy access anytime, anywhere. For the more experienced trader, this platform offers robust charting on the go and is available with the ECN and Standard accounts. FXDD provides clients with a competitive range of trading options, as it has since it was founded in 2002. This broker currently accepts clients from 180 countries, and offers a variety of trading accounts. FXDD is regulated by both the Financial Services Commission of Mauritius and the Malta Financial Services Authority.
- FXDD Malta Limited is a member of the Malta Investor Compensation Scheme , a rescue fund for customers of failed investment firms which are licensed by the Malta Financial Services Authority .
- They’ve been fined several times by the authorities of Malta (where they’re registered) for artificially bloated slippage.
- In it, the users would be gradually charged more withdrawing commission during the month.
- Their overly-harsh security results in the comfortable problems for the users.
While on the subject of commissions, FXDD intended to have a very interesting withdrawing system. In it, the users would be gradually charged more withdrawing commission during the month. The first return wouldn’t be charged at all, but all the following ones will.
With four supported platforms, including FXDD’s proprietary Webtrader which offers web-based trading with full functionality, there is no room for error from a technical point of view. FXDD performs well where reliability is concerned, with effortless login and registration procedures that will have traders ready to use the system in a matter of minutes. When traders register their accounts, they will be asked to choose between a Malta and Mauritius account. The Mauritius account offers relatively little in the way of deposit protection but makes up for this with a higher leverage allowance. Traders who have a keen risk appetite may want to opt for a Mauritius account to take full advantage of this flexibility.
Trading accounts – The FXDD ECN account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $6.00 per lot traded. Extra points for FXDD’s policy of no fees on deposits or withdrawals. Reliability is essential for any online trading platform, and FXDD’s 18 years of experience in the market have given the company ample opportunity to refine its offerings.
FXDD innovative solutions are a gateway to the Forex markets, by delivering new technologies backed by world-class support for individual and institutional traders. FXDD customers can take advantage of a diverse range of products, https://forex-review.net/ Forex, metals, stocks, indices and commodities CFDs. FXDD offers trading via the Metatrader 4 and 5 available for desktop and mobile, and via their proprietary platform WebTrader, also available for desktop, Android and iOS.
Any information or advice contained on this website is general in nature only and does not constitute personal or investment advice. They’ve been fined several times by the authorities of Malta (where they’re registered) for artificially bloated slippage. It means people expected to lose just a little bit of money fxdd review in spreads and ended up losing much more than that. This is actually the major problem, but it neatly compliments the previous problem. See, they rarely return your money after you’ve submitted a withdrawal request. When they feel like explaining, they sometimes summon the security problems or say nothing at all.
FXDD allows for social trading, including copy trading, via the CopyFX account and MQL Signals. FXDD pride themselves on their speed of execution and superior customer service. These key advantages of using the platform spring from the company’s dedication to making the trading process as easy and safe as possible. As with their platform offerings, the company performs very well in this department.
FEATURED FOREX BROKER
If not for their many shortcomings , it would be a very good broker with an outstanding selection of assets to trade. For accounts opened via FXDD Mauritius Ltd, there is no Negative Balance Protection. Without NBP, FXDD Mauritius Ltd customers are not protected from any losses bigger than their original investments, in cases of extreme market volatility. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
Even larger spreads are usually not a big deal, because decent brokers try to mitigate the spread slippage. Data supplied in partnership with CashBackForex – Forex Rebates places FXDD on the top 25 brokers for popularity with traders opening an account in 2020. Forex education – FXDD also gets extra popularity points for their good range of Forex education materials, available through the Resources tab. FXDD clients can access market analysis and forecasts, with daily articles and expert market analyst’s comments. Also available FXDD trading guides with some Forex trading courses.