FXDD is a well-regulated and trustworthy broker with a long history. It offers excellent trading conditions and platforms, which are suitable for beginners and professional traders.
|Max Leverage||1:30 (EU), 1:500|
|Trading Platform||MT4, MT5, Webtrader, ZuluTrade|
|Regulation||MiFID (EU), Malta (MFSA)|
MT4, MT5, ZuluTrade
CySEC, ASIC, FCA
FXDD is a Forex and CFD broker with headquarters in Malta. FXDD was founded in 2002 and offers 6 asset classes from their offices in Malta and New York. They offer trading solutions to both individual and institutional traders, hedge funds, money managers, and introducing brokers. FXDD has two websites: FXDD.com is located in Malta and is for traders from Europe. FXDD Trading FXDDtrading.com is located in Bermuda and accepts all traders (except USA).
FXDD is an established industry leader with clear regulations and a segregation of clients’ funds. The firm holds and operates under the rules of Category 3 License from Malta Financial Services Authority (MFSA). Under the EU’s MiFID II (Markets in Financial Instruments Directive), FXDD is approved to provide cross border services across the European Economic Area (EEA). FXDD Malta is authorised to operate and provide cross border investment services in all the countries within the EEA, including but not limited to the UK (FCA), Italy (CONSOB), Spain (CNMV), Poland (KNF).
As a plus
- Regulated broker
- Social copy-trading such as Zulu trade and others
- Low costs when trading
- Wide range of instruments, including 6 asset categories (cryptos too)
- Negative balance protection and deposit insurance for retail traders
- Established industry leader with clear regulations
- Segregation of clients’ funds
- No max for account holders, charts, and EAs.
On the flip side
- Some negative cases back in 2012-13 but those issues have not returned
FXDD is realy a reliable online broker for traders of all skill levels. Its primary benefits are the social trading options, pricing and execution, easily manageable platforms, and long history (back to 2002).
For this review we tested FXDD, premium account, plus we collected secondary information from reputable sources, as well as user generated reviews.
FXDD is regulated by MiFID II (Markets in Financial Instruments Directive) and Malta Financial Services Authority (MFSA).
What Other Forex & CFD Websites and Customers Say about FXDD?
Although nowadays there is plenty of information available on every broker, this does not make it easier to take a thoughtful decision. The abundance of information can quickly become overwhelming and confuse traders rather than provide clear answers.
We’ve gone through, authoritative user-generated and broker listings/reviews websites to, hopefully, offer more clarity on the reception among its clients.
Most of the websites of this kind offer a raw stream of consciousness by angry and happy traders alike. It is, therefore, important to keep in mind that some of the reviews will be nothing more or less than such.
Given that a lot of traders lose funds, and may go to the websites like Forex Peace Army (FPA) to complain, we aim at distinguishing, well, more subjective from less subjective reviews and offer our limited view on the situation. The reviews on FXDD on FPA are not mild but the criticism dates back to more than 5 years ago. Only a couple of reviews have been added in the last 2 years so no conclusion can be made.
Other review sites such as Forexbrokers.com and DailyForex give FXDD a review of 4 stars. Forex-ratings.com has FXDD at 5 stars whereas one site gives 1.5 stars and 2 other sites give FXDD 3 stars. The average rating of all 7 ratings is 3.14 stars.
Review from ForexBrokers.com
As you can see from the review score in the image above that FXDD has the weakest scores in the categories of research and education. This is exactly where Elite CurrenSea will step in and help because Elite CurrenSea will provide webinars and analysis for FXDD and traders will be able to find our analysis on the FXDD website from December 2018.
FXDD are serious about improving their service in the area of resarch and eduation. Their cooperation with ECS confirms this desire. For those that want more info about ECS, you can find the feedback from Elite CurrenSea’s clients on our website and in FPA.
Overall experience with FXDD customer service was very positive. FXDD offers live chat, email and request a callback. All of our requests were answered quickly and professionally. FXDD offers English, Italian, Spanish, and 3 other major world languages. FXDD prefers to treat each customer with the same high level of service rather than appointing account managers.
Account Types and Execution
FXDD offers its clients 3 types of account: DEMO, STANDARD, and PREMIUM with low spreads and negative balance protection.
The STANDARD account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $25. The PREMIUM account allows you to operate with standard lots and it has minimum initial deposit of $2,000.
Also there is $30 dormant fee after 3 months of inactivity.
Also keep in mind that the available leverage depends on the region of origin of the account. For EU traders, the maximum leverage is limited by default to 1:30, because of ESMA regulations.
More than 50+ currency pairs are available, ranging from major to minor and some exotic pairs as well. Majors of course includes the usual EUR/USD, GBP/USD, USD/JPY but the list of exotic pairs had some interesting options including EUR/ZAR, GBP/ZAR, USD/NOK, EUR/MXN, USD/SGD, and many more.
You can find around 34 indices to trade as CFDs. This includes the largest stock markets and indices.
Traders are able to trade traditional commodities such as Metals (Gold, Silver) and Energies (oil).
Customers can trade with 5 Major Cryptos: Bitcoin (BTC/USD & BTC/EUR) Litecoin (LTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD).
There are a variety of ways of depositing and withdrawing cash from your FXDD account. FXDD accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Union Pay, Bank Wire Transfer, etc.
The account funding process is normally open for 24 hours a day and it is fully automatic. FXDD covers all the fund transfer fees for one transfer a month and does not include any hidden fees or commission for funds deposits.
Both demo and real account FXDD clients can trade on as many as 4 trading platforms that support market, limit, stop and trailing orders, and directly accessible from 1 account. This speeds up trading operations and gives traders great flexibility to trade from anywhere and at anytime with ease. At FXDD the multi-award winning platform Metatrader 4 works with an unlimited number of demo and real accounts, and Expert Advisors (EAs) are also supported.
The available trading software is as follows: MT4 & MT5 Terminals for a wide range of devices; Web Trader and ZuluTrade.
FXDD also fulfils the needs of investors who prefer mobile trading on smartphones and tablets: the MT4/MT5 mobile applications for Apple and Android enable full trading account functionality and seamless trading from anywhere and at any time.
Research, Education & Analysis
The FXDD Research and Education Center was not as robust as other brokers but this will soon change now that Elite CurrenSea (ECS) and FXDD will cooperate together.
ECS will deliver webinars, videos, and market analysis:
- Daily technical analysis with Nenad
- Daily wave analysis with Chris
- Live trading webinars
- Live educational webinars
- Market videos with trade ideas
Other features from FXDD include:
- Trading guide
- Trading calculator
- VPS service
- Other market analysis
Tools and materials are available in 6 languages. It helps clients stay informed about the global markets and enhance their trading skills on a regular basis.
Fly or Frie Verdict
FXDD is a popular online broker for traders of all skill levels. Its primary benefits are social copy-trading solutions, low costs, robust history and established industry leader (2002), negative balance protection, deposit insurance for retail traders, and the market analysis and webinars from Nenad, Chris and Elite CurrenSea.
Traders looking for a well-regulated MetaTrader broker offering both MT4 and MT5 choose FXDD for its range of markets and competitive pricing.
Research done by Chris Svorcik and Nenad Kerkez Co-founders of Elite CurrenSea, Nenad and Chris are award-winning traders with over 10 years of technical analysis and teaching experience. They also offer education and technical analysis on top industry websites and constantly works on his proprietary trading system based on wave analysis ecs.SWAT and technical analysis ecs.CAMMACD.