FXDD provides clients with a competitive range of trading options, as it has since it was founded in 2002. This broker currently accepts clients from 180 countries, and offers a variety of trading accounts. FXDD is regulated by both the Financial Services Commission of Mauritius and the Malta Financial Services Authority. Traders can choose between these two jurisdictions when they open their forex accounts – with Malta providing greater capital protection while Mauritius offering higher leverage limits.
FXDD is affordable and accessible, and does not require high minimum balances on their standard accounts. The spreads offered on currency pairs are competitive, with a zero slippage guarantee and no partial fills on order execution. FXDD has a no-commission policy on its standard account, with price improvements available on limit orders. Traders who are seeking the lowest possible spreads will want to opt for FXDD’s ECN account, with its low commissions and 99% fill rate. Indicative commissions of $0.0299/1000 on major currency pairs and $0.0499/1000 on exotic forex pairs are available on the ECN account. In addition to forex, FXDD also offers CFD (stocks and indices), metals, energies, and cryptocurrency trading. Traders can choose between various platforms: MetaTrader 4 and 5, FXDD’s proprietary Webtrader, and Zulutrader – an automated trading system. A demo account is available for traders who want to take some time to explore the FXDD platform before committing to funding a full account.
FXDD Pros and Cons
- Low minimum deposits
- A choice of two account jurisdictions
- No commissions on the standard account
- A good range of currency pairs and other assets to trade
- Multiple platform support and comprehensive market data and analysis
- Not available to traders in the US
- Only offers variable spread accounts
- EU-client leverage restricted to 30:1
Who Is FXDD Recommended For?
FXDD’s accounts do not have a definite minimum deposit requirement, although practically speaking, an amount of $250 or above is recommended for effective forex trading. This makes the platform ideal for cost-conscious traders. The range of trading options, including forex pairs, equities, metals and other asset types make this platform attractive as a one-stop trading solution, especially as it offers four different trading platforms.
Cryptocurrency is becoming more popular by the day, and FXDD’s Ethereum, Ripple, Litecoin and Bitcoin trading options will definitely be a welcome feature for traders in 2020. This broker encourages traders to engage with the latest research and trend analysis to sharpen their skills and increase their chances of a successful trading experience. Daily market updates and analysis, wave analysis, price action, webinars, and constant market data updates are some of the features that make FXDD an engaging and rewarding platform for forex traders.
Top FXDD Features
- Multi-Platform Support: FXDD clients enjoy access to multiple trade execution platforms including MetaTrader 4, MetaTrader 5, Webtrader, and ZuluTrade. Moreover, trades can be executed via available desktop, web, and mobile trading platforms.
- Multiple Cryptocurrency Pairs: Trade Bitcoin, Litecoin, Ripple and Ethereum with leverage up to 10:1 A minimum trade size of 0.01/1 and a 10-contract daily limit apply.
- Competitive Conditions: FXDD offers a large range of currency pairs , metals, energies, stocks,indices and cryptocurrencies to trade along with very affordable spreads and low or no commissions depending on the account type.
- Comprehensive Copy Trading: ZuluTrade offers traders access to profiles of some of the most successful forex traders and the ability to copy their exact trades. For those who are still learning forex, a dedicated automated trading platform is a great asset.
- Trading Data & News: Receive market news and updates directly from FXDD, with both data and insights provided by the brokerage’s in-house analysts. The scope of this information extends to charts, webinars, video and wave analysis and a live trading room.
- Type of Broker Market-Maker Broker
- Regulation & Licensing Financial Services Commission (Mauritius) Malta Financial Services Authority
- Accepted Jurisdictions 180 countries worldwide
- Assets Offered Currency Pairs (live quotes), CFDs, Cryptocurrency, Commodities, Stocks, Indexes
- Platforms Available Metatrader4, Metatrader5, Webtrader ZuluTrade
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit/Debit Card, Bank Transfer, Neteller, UnionPay
FXDD Account Types
|Starting Spreads||1.8 pips||0.5 pips|
|Commission Per Trade||
|From $0.0299/1K or $0.299/10K|
|Decimal Pricing||5 figures||5 figures|
67 forex pairs
67 forex pairs
|Min. Lot Size Per Trade||0.01 lot||0.01 lot|
|Max Lot Size Per Trade||Unlimited||Unlimited|
|Swap/Rollover Free||Swap free||Swap free|
|Copy Trading Support||Yes||Yes|
FXDD Compliance & Regulation
FXDD operates from Malta (an EU territory) and MauritiusThe company is regulated by the Malta Financial Services Authority and the Financial Services Commission in Mauritius.
When traders register their accounts, they will be asked to choose between a Malta and Mauritius account. While most of the features and benefits of these accounts are similar, it’s worth noting that Malta applies more stringent (EU) regulations when it comes to protection of deposits in the case of a broker’s liquidation – in the region of 95% of the first €20,000 held in the trading account. The Mauritius account offers relatively little in the way of deposit protection but makes up for this with a higher leverage allowance. Traders who have a keen risk appetite may want to opt for a Mauritius account to take full advantage of this flexibility.
FXDD operates its ECN accounts on a commission basis, with a commission of $0.0299/1k or $0.299/10k for common currency pairs and $0.0499/1k or $0.499/10k for less common ones. The standard account is commission free, although certain fees apply to both accounts.
The spreads offered by FXDD are reasonably competitive, especially considering that the brokerage offers zero commissions on its standard accounts and a large range of forex and other investment options. Traders will want to compare the spreads on various currency pairs as they certainly differ depending on the currency.
Deposits are free on the FXDD system, and so is one withdrawal of funds per month. If a trader wishes to make multiple monthly withdrawals, a fee of $40 will apply to each one. A $100 wire fee also applies, with an additional $25 if the amount is under $100. In terms of FXDD’s fee structure, it makes more sense to withdraw one large monthly amount than several smaller ones.
FXDD Reliability & Security
Reliability is essential for any online trading platform, and FXDD’s 18 years of experience in the market have given the company ample opportunity to refine its offerings. With four supported platforms, including FXDD’s proprietary Webtrader which offers web-based trading with full functionality, there is no room for error from a technical point of view. FXDD performs well where reliability is concerned, with effortless login and registration procedures that will have traders ready to use the system in a matter of minutes.
FXDD pride themselves on their speed of execution and superior customer service. These key advantages of using the platform spring from the company’s dedication to making the trading process as easy and safe as possible. As with their platform offerings, the company performs very well in this department.
In recognition of their reliable platform and customer service, FXDD have been the recipients of several awards. These include:
- 5 FX Traders’ Choice Awards in 2010
- Best Broker in Middle East and North Africa 2011
- Most Transparent FX Broker 2011
- Best New Platform (Europe) 2012
- Most Trusted Forex Broker (Europe) 2012
FXDD User Experience
The first step in becoming an FXDD user is registering an account. This process is relatively straightforward and can be completed in a matter of minutes. After receiving a confirmation email, traders will need to download the trading platform they chose during registration: MetaTrader 4 or 5, ZuluTrade, or the proprietary FXDD Webtrader which launches automatically in a browser window. If a demo account is used, the login details will either be generated by the third party trading platform or will be sent to the trader by email if they are using Webtrader.
In terms of funding the trading account, FXDD offers several deposit options: bank deposit, credit or debit card, Neteller, and Union Pay. The deposit process is simple and easy and no commissions are charged by FXDD to deposit funds. As mentioned previously, there are several fees that apply to multiple withdrawals within the same month, which act as an incentive for traders to bank their profits on the system and collect them as a single monthly lump sum withdrawal.
After logging in to their platform of choice, traders will immediately see the forex pairs and other trading options with their fluctuating prices and other market information. Using FXDD’s Webtrader platform, it’s possible to perform various types of analysis by using charting tools including moving averages, candlesticks and other technical analysis features. By clicking on a currency pair, metal, stock, or other asset type, traders will call up a buy window that will let them specify the details of their trade and execute it almost immediately. The overall user experience is smooth and enjoyable, with a variety of informative trading tools that are intuitive to use.
Final Thoughts on FXDD
Overall, FXDD is a comprehensive, low-commission online forex broker with a good range of asset types and platforms to choose from. Traders who are looking for a budget-friendly, low deposit platform with a respectable number of forex pairs and other tradable assets will probably find a good deal of value in FXDD’s offering.
Trading Platform Screenshots
K2, First Floor, Forni Complex Valletta Waterfront Floriana FRN 1913 Malta