FXDD Review 2022
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FXDD offers online trading in six major asset classes on the MT4, MT5 and WebTrader platforms.
FXDD is an online trading broker, providing six major asset classes including forex, CFDs, stocks and commodities. FXDD is a global brand, servicing clients in more than 200 countries, including the UK, Canada, Australia, Egypt, Singapore, and the Philippines. Our review covers trading platforms, account opening, regulations, and more.
FXDD was founded in 2002 in New York and is headquartered in Malta. The company has been trading under the leadership of its CEO since 2004, with 400,000 accounts opened. FXDD Europe is regulated by the Malta Financial Services Authority (MSFA) and is licensed to offer services in all countries within the EEA under the EU’s MiFID legislation.
FXDD Malta Ltd is the owner of the FXDD global brand. The Malta entity outsources some services to FX DirectDealer LLC, Jersey City. Group trading licenses are shared with FXDD Mauritius and FXDD Bermuda Limited. Clients span from the UK to Indonesia and Japan.
FXDD offers several trading platforms suitable for different experience levels. All platforms come with a mobile trading app.
Note: FXDD Mauritius and FXDD Bermuda Limited also offer clients the ZuluTrade copy trade platform.
FXDD offers a free MetaTrader 4 download, industry recognised, but optimised with bespoke technology to provide users with an enhanced trading experience. You can download MT4 to desktop devices or trade through major web browsers.
Highlights of MT4 include:
- Online marketplace
- Video tutorials and guides
- VPS hosting option (for a small fee)
- Expert advisors for automated trading
- Multiterminal to provide access to numerous accounts on a single interface
- Highly customisable interface supported by an unrivalled charting packaging
The broker also offers the MT5 platform, available as a free download to desktop devices and through major web browsers, suited to the more experienced trader.
Highlights of MetaTrader 5 include:
- Enhanced strategy tester
- A range of pending order types
- Advanced graphical trading tools
- Built-in economic events calendar
- MT5 1-minute historical data option to add directly onto charts
- Built-in marketplace to purchase or rent technical indicators or signal providers
This trading platform is the broker’s proprietary solution, developed over the years with the needs of advanced user in-mind.
Highlights of WebTrader include:
- Tight pricing
- Scripting available
- Position based trading
- Quick & easy to register
- One-click order execution
- Detailed market financials
- Highly customisable financial indicator charts
FXDD offers clients access to the following financial markets:
- Forex – 67 major currency pairs including EURUSD, USDJPY, and GBPAUD
- Company stocks – including Facebook, Apple, and Amazon
- Commodities – including gold, silver, and energies
- Indices – including the UK100 and GER30
The broker also offers binary options.
FXDD Trading Ltd offers competitive forex spreads as low as 0.3 pips on USDJPY and 0.7 pips on EURUSD.
The broker charges no commission on trades using the Standard account, however, commissions are charged on ECN accounts. The company also charges swap rates for positions held overnight, further details of which can be found on the brokerage’s website.
Maximum leverage at FXDD is 1:30 in line with ESMA regulations:
- Forex – 1:30
- Commodities – 1:20
- Indices – 1:20
- Stocks – 1:5
The MT4 and MT5 platforms are both available for mobile trading, compatible with iOS and Android devices. The mobile offering supports full charting packages and the trading functionality found on the desktop terminals.
The broker also provides an additional mobile trading application; FXDD Mobile. This app provides users access to analyst views and global news sources in an easy to navigate interface while on the move. The application allows traders to utilise data refresh feeds with high-speed server times to manage trades at the click of a button.
Clients can deposit funds through the FXDD customer portal, with no fees. The broker accepts deposits in several currencies including USD, EUR, and GBP, with a minimum deposit of £1/$1.
Deposit methods include:
- Credit cards
- Bank wires
To withdraw profits, clients must complete a funds withdrawal redemption form. Redemption requests require 24-48 hours to process. Clients can also transfer funds between existing or new accounts through the funds transfer form.
The broker covers the cost of the first withdrawal each calendar month, however, $40 is charged for additional withdrawals. The minimum redemption for wire withdrawal is $100, any redemptions below this will incur a $25 fee. For any withdrawal problems, FXDD suggests contacting them via telephone.
FXDD offers a demo account on all trading platforms. Clients must complete an online registration form for the opportunity to test their skills risk-free with virtual funds of $3,000. Demo accounts are live for 90 days, however, additional time may be requested via customer support.
The demo accounts provide the opportunity to become familiar with the FXDD trading platform software and practice trading instruments such as forex. It is noted however, that the pricing on the demo accounts, while indicative of live pricing, does differ slightly.
At the time of writing, there are no promotions or bonuses, this includes a new account welcome deal and no deposit bonus. This should not discourage account opening as competitive trading conditions are offered despite the lack of rewards.
FXDD is authorised and regulated by the Malta Financial Services Authority (MFSA). As a result, the forex broker follows EU safety standards, including client fund segregation.
The online trading broker also operates under the EU’s MiFID II (Markets in Financial Instruments Directive) and is therefore approved to provide services across the European Economic Area. Under this, FXDD publishes annual reports on their Regulatory Technical Standards (RTS28), disclosing the top 5 execution venues of client orders.
Users are also covered by the Investor Compensation Scheme, administered by the MFSA, with compensation of 90% of investments up to the value of €20,000.
The FXDD website offers a vast education platform with training guides and tools such as rollover rates, margin calculators, and position size calculators.
The broker also offers clients online access to daily and weekly market insights, instructional material, a blog, and an economic calendar. Trader guides are available across several topics, including currency pairs, emerging markets, and commodities. There is also a substantial glossary ranking financial terms and an FAQ section.
FXDD offers three different account types upon completion of the relevant documentation. The process to open an account is the same for each account and includes providing government-issued identification and proof of residence. The account opening documents also require FATCA provisional questions.
Once your account has been approved, you can log in via the customer portal and fund your account with a minimum deposit of £1/$1. Full details of the setup process can be found on the broker’s website.
The account options are:
All account options offer the same spreads, rollover rates, charts, and fees.
Clients can trade on two pricing models:
Standard pricing (only available on MetaTrader platforms):
- No partial fills
- Fill-or-kill execution
- Low standard spreads
- No commission per trade
- Guaranteed zero slippage on entry orders
ECN pricing (available on MetaTrader and WebTrader platforms):
- No partial fills
- High-speed execution
- High fill rate over 99%
- Raw, direct spreads with no mark-up
- Small commission per trade (major currency pairs $0.0299 per 1000)
- Automated trading
- $1 minimum deposit
- 24/5 multilingual customer support
- Swap free / Islamic friendly trading accounts
- Choice of trading platforms including MT4 and MT5
- Negative balance protection policy for all retail customers
- Regulated by the MFSA with investment compensation protection
Downsides of trading with FXDD include:
- $30 inactivity charge after 90 days
- $25 withdrawal fee for payments under $100
- Withdrawal fees for more than one payment per calendar month
The broker follows standard trading hours typically Sunday 5 pm to Friday 5 pm (EST). Monthly trading hours may change by instrument and are posted on the latest news section of the broker’s website.
FXDD offers multilingual customer support including Arabic and Spanish, 24/5:
- Phone number – (+356) 2013 – 3933
- Email – firstname.lastname@example.org
- Address location – FXDD Malta Ltd, K2, First Floor, Forni Complex, Valletta Waterfront Floriana, FRN 1913, Malta
The customer contact portal page on the broker’s website also offers a call back option and live chat engine via the respective logo on the right-hand side of the webpage.
The MT4 and MT5 platforms assure high-tech encryptions, secure logins, and industry-standard data privacy. All account and portal access is password protected.
FXDD offers easy online trading on a range of instruments including forex, commodities, and stocks. Access to the industry-renowned MetaTrader 4 and MetaTrader 5, as well as the broker’s WebTrader platform, means users of all abilities are catered for. Our review was pleased to see legitimate regulation and investment compensation protection, so we’re confident the broker isn’t a scam.
FXDD accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FXDD from United States.
Compare FXDD with similar brokers that accept traders from your location. Among available brokers these are the most similar to FXDD:
AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
FXDD Comparison Table
|FXDD||AAAFx||World Forex||InstaForex||IG Group|
|Markets||Forex, Stocks, Commodities||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||0.01 lots||0.01 lots||0.01 Lots||0.01 Lots||0.1 lots|
|Regulators||Malta Financial Services Authority (MFSA), Mauritius Financial Services Commission (MFSC)||HCMC (Greece), FSCA (South Africa)||SVGFSA||BVI FSC||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin|
|Bonus||–||100% Deposit Bonus available for Global clients||100% Deposit Bonus||30% – 100% Welcome Bonus||–|
|Platforms||MT4, MT5||MT4, MT5||MT4, MT5||MT4, MT5||MT4|
|Leverage||1:30||1:30 EU, 1:500 Global||1:1000||1:1000||1:30|
|Detailed Comparison||–||FXDD vs AAAFx||FXDD vs World Forex||FXDD vs InstaForex||FXDD vs IG Group|
Compare Trading Instruments
|FXDD||AAAFx||World Forex||InstaForex||IG Group|
FXDD vs Other Brokers
Compare FXDD with any other broker by selecting the other broker below.
What documents are needed to open a live account with FXDD?
You will need government issued photo ID and proof of residential address issued within the last 6 months. You will be required to verify your identity through the online verification tool during the on-boarding process.
Is FXDD regulated?
Yes, the broker is regulated and licensed by the Malta Financial Services Authority (MFSA) and the Mauritius Financial Services Commission (MFSC).
Does FXDD charge commission on trades?
The broker does not charge commissions on trades made by clients using the standard pricing but it does charge for ECN accounts.
What currencies can I deposit with at FXDD?
FXDD accepts deposits and withdrawals in USD, EUR, GBP, JPY, CHF and BTC.
Is FXDD legit or a scam?
FXDD is a legitimate company licensed to operate in the EU and beyond. The broker receives positive customer reviews and is subject to regulatory oversight from two reputable agencies.
|FXDD offers online trading in six major asset classes on the MT4, MT5 and WebTrader platforms.|