Top Options
73/ 100
Regulated: Regulated by the MFSA, FCA, AMF and others
Min Deposit: $250
US Clients:
Free Demo Account:
Trading Platform: MT4, Mobile, MTXtreme, Power Trader, VikingTrader, JForex
Payment METHOD NAME Charge Time

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Full Review

About FXDD

FXDD functions as a market-maker and an ECN broker. Started in 2002, FXDD operates a global headquarters in Malta, with a financial services license issued by the Malta Financial Services Authority (MFSA). Regional offices are located in New York, UK, France and other European countries, where the company is licensed by the individual licensing bodies:

–       FCA in UK

–       AMF (France)

–       CNMV (Spain)

–       AFM (Netherlands) BaFin (Germany)

–       PSzAF (Hungary)

–       CNB (Czech Republic).

 

Special Offers and Bonuses

The bonuses awarded on FXDD are as follows:

a)    A $25 no-deposit bonus.

b)    A 5% initial account deposit bonus.

c)     There are various competitions which are also held periodically. Information about these offers is usually released to the public when the competitions become active.

 

Types of Trading Accounts

Only three types of live accounts can be opened, usually on the basis of type of ownership. The account types are:

a)    Individual: This is the regular individual trading account.

b)    Corporate: This is for corporate account ownerships, and is suitable for those who want to open trading accounts for their companies.

c)     IRA: The Individual Retirement Account is a form of trading account used for retirement goals, and can only be opened on FXDD using custodian firms. The following custodian firms are accepted by FXDD for this purpose: Millennium Trust, Entrust Group, Equity Trust, The IRA Club, Alternative Investment Funding Solutions and Advanta IRA. All deposits and withdrawals are done through the custodian firms.

The trading conditions, minimum deposit requirements and trade sizes are the same for all types of accounts.

 

Trading Platform Features

FXDD provides trading platforms for its retail and institutional clients alike. These platforms are listed below:

  1. Retail Platforms

Retail platforms are suitable for those just starting out in the forex market, with great access to a variety of tools.

a)    MetaTrader4: The latest build of the MT4 platform is available for desktop computers, mobile devices and tablets.

b)    Swordfish: The Swordfish is FXDD’s proprietary forex platform which offers traders variable spreads, automated Algo-style execution and one-click execution.

c)     Mobile Trading Platforms: These are optimized for the iPhone, iPad and Android phones and tablets. Apart from the tablet devices which use the JForex platform, the other mobile devices run on the MT4 platform. The various mobile trading apps can be downloaded from the respective app stores.

 

  1. Professional Platforms

Professional platforms on the FXDD suite are for the more advanced users, and include the following trading platforms:

a)    MTXtreme,

b)    Power Trader

c)     Viking Trader

d)    JForex

These platforms operate in an ultra-low latency environment, allowing for faster execution times and opportunities to make quicker entries than would otherwise be available to other market players on other platforms.

 

Commissions and Spreads

The payable spreads on trading currencies on FXDD are shown in this table below. The standard spreads are obtainable on the MT4 platform while the extreme spreads are seen on the MTX platform.

CURRENCY PAIR Extreme Spread (in pips) Standard Spread (in pips)
EUR/USD 1.17 2.07
USD/JPY 0.75 2.08
USD/CAD 1.79 2.38
AUD/CAD 2.56 1.46
AUD/JPY 1.24 3.84
AUD/NZD 3.97 5.97
CAD/JPY 1.1 3.7
CHF/JPY 1.6 4.47
EUR/AUD 2.58 2.78
EUR/CAD 2.55 4.15
EUR/CHF 2.03 3.82
EUR/GBP 1.92 2.71
EUR/JPY 1.12 3.10
EUR/TRY 10.58 17.44
XAG/USD 4.17 4.17
XAU/USD 30.9 40.96
GBP/AUD 2.57 3.57
GBP/CAD 2.59 3.59
GBP/CHF 3 4.80
GBP/USD 1.55 2.33
NZD/CAD 3.09 3.69
NZD/CHF 2.91 3.51
NZD/JPY 1.85 4.45
NZD/USD 2.41 2.98
OIL/USD 1.22 1.22
USD/CAD 1.79 2.38
USD/CHF 1.60 2.19
USD/CNH 18.39 18.39
USD/CNY 30.81 30.81
USD/HKD 4.99 10.01
USD/INR 6.21 8.21
USD/KRW 51 61

 

Charting Packages

The various platforms on FXDD are all loaded with interactive charts and indicators, which traders can use for their technical analysis.

 

Education and Demo Accounts

The following materials and resources make up the educational suite of FXDD:

a)    An opportunity to meet the in-house forex experts at FXDD Masters Live, a live training event hosted by Greg Michalowski, Chief Currency Strategist on FXDD. Traders can also submit their questions and have them answered on YouTube.

b)    There is an online blog which features content on a variety of topics.

c)     Traders can also access forex video tutorials on the FXDD website.

Traders can also get access to a free and unlimited demo trading account.

 

Customer Service

Customer Support on FXDD can be reached via the following means:

a)        Phone: (+356) 2013-3933

Trading: (+356) 2013-3939

b)        Email: [email protected]

Sales: [email protected]

Marketing: [email protected]

 

Deposit and Withdrawals 

The various methods of making deposits and withdrawing funds from their trading accounts are presented below:

a)    Credit Card: For a deposit maximum of $10,000, traders can send their money using credit cards.

b)    CLICKANDBUY: This is an online payment method which allows deposits of up to $25,000 into the trading account.

c)     Bank Wire: Traders can perform transactions in Euros, British Pounds and US Dollars using bank transfers.

d)    Skrill: Skrill allows deposit limits of up to $10,000. There are no charges for transacting with Skrill. Skrill also presents an avenue for up to 99 online payment methods to perform payment processing, depending on which one is available in the trader’s country. 

Deposit Limits

The minimum deposit amount on the FXDD platform will depend on the type of account and the deposit method used for the transaction. Mini accounts allow a minimum deposit of 250 USD, while a trader with a Standard account can transfer a minimum of US$2,000. The maximum deposit limits are usually defined for each payment method and is stated above.

Withdrawal Limits

No withdrawal limits exist on FXDD, either on the downside or the upside. The only conditions that must be fulfilled are account verification, and extra security verification of the credit card by supplying some of the card details in a secure manner.

 

Conclusion

For traders looking for a forex brokerage with a complete learning experience, FXDD is it. FXDD has shown that the era of traders being left alone to navigate the market for themselves is gone, and has provided the opportunity to interact with the top currency analysts for better understanding of the markets.