FXDD Forex Broker Review

FXDD is an online broker with a registered address in Floriana, Malta. As such it is licensed and regulated by MFSA (Malta Financial Services Authority). It offers trading services for individual and institutional clients, as well as hedge funds, money managers, white labels and introducing brokers. It was established in 2002, and has so far won some prestigious awards, such as the Most Trusted Forex Broker Europe 2012, and the Best New Platform Europe 2012.
It has also made a name for itself by sponsoring technology-driven events. In 2010, it partnered with the Formula 1 Red Bull Racing Team, and also the FXDD Mazda-RX8 which was driven by Emil Assentato and Jeffrey Segal, and won the 2010 GRAND-AM Rolex Sports Car Series Championship. It is also known for the FXDD Foundation which works with charitable organisations, providing access to nurturing technologies and empowering the dreams and ideals of young children.
We should also mention that FXDD has received a spot of bad press as well. In 2013, it was ordered to pay $2.74 million for Supervision Failures Relating to Trading Platform by the US Commodity Futures Trading Commission.

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*not available for EU clients, **Clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd are not eligible for this bonus. This bonus will also depend on the client’s country of residence.

fxdd

Bonus

No

Regulation

MFSA

Mobile

Yes

Instruments

Forex, indicies, Binary options, shares

Website

www.fxdd.com
Not Verified

FXDD uses an array of trading platforms

FXDD makes use of an unusually large array of trading platforms, aside from the ever popular MetaTrader 4. They include:
fxdd home

There aren’t many other brokers who can offer such an extensive range of trading platforms. There really should be something to suit everyone.

Three different account depending on the type of trader

fxdd supportFXDD offer three different accounts, and the choice will depend on the number of people trading. There is an individual account, which obviously is only for one person. There is also a joint account for two or more traders who want to trade together. Joint accounts must be supported by a customer agreement form signed by the individuals who are party to the account. And there is a corporate account that is opened under a company name.
We should also mention the demo account, which gives new traders the chance to try the popular MT4 trading platform, as well as trying out new strategies in a risk free environment.

FXDD promises competitive spreads

Before you choose to trade with FXDD, it’s important to understand their pricing structure. There are two pricing models, Standard and ECN pricing.
Standard pricing – Spreads can be as low as 1.5 for EUR/USD, 2.5 for GBP?USD, and 2 for USD/JPY or AUD/USD. 0 slippage is guaranteed, and there are no commissions. Spreads do vary across other currency pairs, but they are all clearly laid out in FXDDs website.
ECN pricing – Spreads can be as low as 0.1 for EUR/USD, 0.5 for GBP/USD, 0.2 for USD?JPY, or 0.7 for AUD/USD. There are no markups and commissions are small at $2.99 per standard lot, per side.

Heaps of free Forex tools and utilities to get traders started

FXDD want to make you a better trader

FXDD say on their site they want to help traders make better trading decisions, and after taking a look at the educational material, we weren’t disappointed. There is plenty of reading material targeting all different levels. Also available are a number of instructional videos covering everything from the basics to in-depth technical analysis. And there is a library of trading guides covering the basics of Forex and options trading.

Get in touch with customer support and you could find yourself speaking to a representative in New York

Customer support is available 24 hours a day from Sunday 5PM to Friday 4PM. And there are a couple of numbers to ring. They are kind enough to mention that some calls could be routed through their New York offices, so it doesn’t come as a surprise when you speak with someone who has an American accent. There are two email addresses, one for sales and one for support. And they have also been kind enough to give a postal address should you feel the need to put pen to paper.
All in all, we were very impressed with FXDD, and found their website very informative and easy to navigate. There were no nasty surprises when it came to trading, and we couldn’t find any reason not to sign up for a real money account.

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FXDD Forex Broker Review
3.2 (64%) 5 votes

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3 comments on “FXDD Forex Broker Review”

  1. Virginia Hefferman says:
    Country & city: USA, New York
    Rating: .
    The above review briefly states that FXDD has had "a spot of bad press," and there is a warning sticker stating that they are not verified. But all of this really wildly understates the issues with FXDD. First, they were fined 25,000 Euro by the government of Malta for illegal practices. They then were fined 2 million dollars by the NFA for the practice of illegal assymetric slippage (basically, intentionally delaying processing a trade so that the client loses money). As if that wasn't enough, they were required to pay $1.8 million back to their clients for the illegal "slippage" issues. FXDD settled for this amount (so, nearly 4 million dollars) without either admitting or denying guilt... And as if all of that wasn't enough, while these lawsuits were going on, FXDD response was to threaten lawsuits against their CUSTOMERS, in the hopes of intimidating them, silencing, and keeping them from talking to the NFA (which is the U.S. regulatory Forex commission). Basically, there is no end of bad things to say about FXDD, and you can read more about them elsewhere. Just stay far, far away from them.
  2. Marvin Silverberg says:
    Country & city: Canada, Toronto
    Rating: .
    Yeah, I've heard much the same stuff about FXDD that was mentioned in the comment above, and I got burned by them to the tune of 250 dollars, which isn't a lot, but shows how quickly I realized it was all a scam. Nor do I understand why the main review here starts with a WARNING label, then ends by saying there's not reason not to sign up with FXDD. Say what?
    • topratedforexbrokers.com says:
      Hello Marvin! Thanks for the note. We will soon update the review. Have a good day and profitable trading!