FXDD Review

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Overview

Company Information Incepted and finding its centre of operations in Malta, FXDD is a developing core for global finance and Forex trading. The company unites a workforce of 180+ diverse… more

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Details

BrokerFXDD
Website URLwww.fxdd.com
HeadquartersValletta, Malta
Support Number+356 2013 3933
Support Emailsupport@fxdd.com.mt
Support TypesPhone, E-mail, Live Chat
LanguagesEnglish, Spanish, Arabic, Vietnamese, French, Italian, Japanese, Russian, Chinese, German, Turkish, Portuguese, Korean, Czech
Minimum Trade Amount0.01 lots
Maximum Trade Amount10,000 lots
Payout200:1
Free Demo AccountYes
Regulated Yes
RegulationMalta Financial Services Authority
Account TypesIndividual, Joint, Corporate
Deposit MethodsVISA, MasterCard, Skrill, Safecharge, NETELLER, Bank Wire
Withdrawal MethodsVISA, MasterCard, Skrill, Safecharge, NETELLER, Bank Wire
Types of AssetsForex, CFDs, Oil, Metals, Options
Account CurrencyUSD, JPY, EUR, GBP
ECN Broker No
Scalping Allowed No
Managed No
Lowspread Yes
Forex Demo Contests No
Forex Live Contests No
US Traders Allowed No

Full Review

Company Information

Incepted and finding its centre of operations in Malta, FXDD is a developing core for global finance and Forex trading. The company unites a workforce of 180+ diverse FX experts that speak 14 languages.

The Forex brokerage provides trading solutions not only to individual and institutional traders but also to money managers, hedge funds, introducing brokers, and white labels. And all of these solutions are bespoke to every specific need or strategy of the investor.

The international reach and the ability to craft ground-breaking tools with a rate that outstrips the bulk of other brokers has aided FXDD in turning into an FX global powerhouse. Next to their vertiginous growth is the outstripping development of the company’s technologies and offerings, providing traders with the chance to get the most of the foreign exchange niche.

The broker’s proprietary technology is at enterprise level, uniting a broad arsenal of trading solutions to house each and every strategy.

With its new-fangled approach to learning and an award-winning multilingual customer support, FXDD just breathes innovation and strives to always address client issues with the utmost care that’s provided around-the-clock.

To further boost its image as a Forex gargantuan, stern regulations are set in place by the Malta Financial Services Authority (MFSA), which is entirely harmonised with the European Commission’s MiFID.

Trading Information

Irrespective of one’s competency level, trading size, or strategy, FXDD presents optimal solutions for Forex trading online. The simple, quick, and secure application process comes with no concealed costs or fees.

Besides a demonstration account, which newbie investors may utilise to craft their trading edges, there are three (3) live accounts – an Individual, a Joint, and a Corporate.

In addition to the Standard trading accounts, there’s also the handy alternative to incept a Mini account. It possesses a tinier size and permits you to familiarise yourself with the exhilarating FXDD platform. No prerequisite for a minimum deposit exists for the Mini account, and the maximum leverage and lot size for this trading account are 200:1 and 10,000 units, respectively. With a Standard account, the lot size will be ten times higher – 100K units, but it will have the same leverage limit – 200:1.

The principal difference between a Standard (Individual or Joint) and a Corporate (ECN) account lurks in the size of the spread. For the former, the spreads’ lows are between 1.5 and 2.5, depending on the currency pair, while for the latter, the lows of the spreads are as tiny as 0.1 for EUR/USD and 0.7 for AUD/USD. These are indisputably some of industry’s lowest spreads.

Trading Platforms at FXDD

There are two principal trading platforms at FXDD – MetaTrader4 and Mirror Trader.

The MT4 combines tonnes of outstanding features that include:

  • Real-time charting.
  • Automated trading.
  • Customisable alerts.
  • EAs allowed.
  • Streaming news.
  • Custom indicator capable.
  • 24-hour client support.
  • Ticket-based trading.
  • Multilingual platform.
  • Automatic live updates.

Mirror Trader, save for streaming of news, EAs, and custom indicator capable, possesses the same features. Both platforms are an epitome of elegance and are extremely easy-to-handle, which makes them brilliant for novices. The recommended min deposit for both of them is $500.

Next to those two sophisticated innovations of technology, there is FXDD’s WebTrader platform. Its perks are that it does not necessitate downloading, has a highly customisable interface, advanced quote panel, and an enhanced charting, as well as 1-click trading. The WebTrader is a position-based trading system.

To fully utilise the advantages of Forex/CFD trading, you can make use of RoboX. It uses an exclusive algorithm which makes relations between one’s personal trading profile and the world’s biggest database with algorithms to craft a trading package that is tailored to an investor’s necessities in the most appropriate way. He/she only has to respond to a quick questionnaire, evaluating his/her trading flavour and risk tolerance.

Mobile device aficionados may also derive benefit from FXDD’s mobile applications force. Accessible for Android, Blackberry, and iOS, the app enables continuous integration between desktop accounts, permitting you to manage positions and place orders speedily and securely.

Security and Customer Services

An investor can never have a good night sleep without the proper security set in place for his/her pecuniary means. FXDD’s cutting-edge services come with a stupendous level of safety. The Maltese financial entity – MFSA – stringently regulates and scrutinises all actions of FXDD in an attempt to defend clients. With MFSA, the Forex brokerage has a Category 3 licence.

Now, we are stepping in the most helpful section – customer support. FXDD can easily be pointed out as one of the harbingers in this field. This is due to the utterly professional, multilingual customer service it pampers its clients with. This is done in a timely fashion, 24/5 over the phone, via e-mail, or through a live help assistance. The office hours are Sunday, 5 PM – Friday, 5 PM, EST.

The languages accessible at the brokerage’s website include English, Spanish, Arabic, Vietnamese, French, Italian, Japanese, Russian, Chinese, German, Turkish, Portuguese, Korean, and Czech.

Deposits and Withdrawals of FXDD

Compared to other brokerages, FXDD does not possess that huge of a choice when it comes to depositing funds. However, there are no costs for initiating a deposit and one is free to withdraw cash at any time.

The available deposit options include credit cards, ($10,000 max deposit), Bank Wires (no max deposit), and E-wallets (Safecharge Cashier, NETELLER, and Skrill – $10,000 max deposit for all). Another unfortunate fact about this Forex broker is that all deposits need up to 2 working days to materialise. Deposits via Skrill, credit cards, and bank wires can be executed only in USD, JPY, and EUR, while for NETELLER and Safecharge Cashier, you can also deposit in GBP. Neither third-party deposits nor paper check deposits are permitted.

As regards withdrawals, FXDD covers the costs of the first withdrawal of a client every calendar month. Additional redemptions come with a $40 fee per withdrawal. The minimum amount per redemption is to the tune of $100. If you’d like to withdraw anything less than $100, an extra $25 fee will be added.

Deposit Bonus and Loyalty Programmes

Unfortunately, this Forex brokerage does not provide any perks, promotions, and bonuses, which for a Forex colossus such as FXDD is surprising.

Nonetheless, the industry-low spreads and commissions with no markups, 0 slippages, and 99%+ fill rate make this Forex company as alluring as (if not more) others that teem with loyalty programmes.

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