Trust Score

75
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Regulation

  • FCA

Platform

  • ZuluTrade

  • MT4

  • MT5

Min Deposit

$200

Leverage

200:1

Bonus

Zero Commissions

FXDD is a forex broker that provides services for retail and institutional clients. Founded in New York in 2002, FXDD opened an offshore company in Malta in 2010. Regulated in Malta and EEA authorised by the FCA, it offers six types of assets including cryptocurrencies, indices, metals, energies, stocks, and Forex with a minimum deposit of $200 and maximum leverage of 1:200. However, It doesn’t offer services to US customers.

Broker Introduction

FXDD, also known as FXDirectDealer, is a forex broker that provides services for retail and institutional clients in six asset types. FXDD opened its offices in New York in 2002. The company opened an offshore company in Malta called FXDD Malta in 2010. In 2014, FXDD sold all US retail forex accounts to FXCM. After that, the company stopped offering products to US-based clients.

In 2013, the CFTC fined FXDD with $2.74 Million for supervision failures relating to trading platforms. The broker offers cryptocurrencies, indices, metals, energies, stocks, and Forex. FXDD is regulated in Malta and it offers services in Europe by a FCA EEA Authorization.

Broker Products: Six types of assets, from traditionals to cryptos

FXDD is an online trading brokerage that offers standard and ECN accounts. It provides a total number of 54 Forex pairs to trade including majors, minors and exotics, six cryptocurrency pairs, seven metals, three energy assets, ten stocks shares, mostly on the technological sector, and ten of the most critical indices around the world. FXDD permits fractional lot trading and OCO orders. The broker offers Contract for difference, or CFD.

FXDD Trading Conditions: High speed execution, low latency

FXDD offers custom latency for market movements during order "flight time." Orders may experience positive or negative slippage. "If order price is unavailable and beyond latency allowance, order is rejected." The maximum leverage accepted is 1:200 for professionals.

Broker Account Types: Two options with micro, mini opportunities

FXDD provides customers with two types of accounts: Standard or ECN pricing. The standard account offers low spreads and no commissions, while the ECN delivers ultra-low, direct raw spreads but it has commissions.

Broker Commissions & Fees: Variable model with fixed fees

FXDD uses a variable pricing model depending on the market and account type. The ECN Pricing accounts have fees per lot. All major forex pairs have spread as low as 0.2 pips, depending on time and market. Pairs like the USD/MXN has 43.4 pips spread, and EUR/TRY spread is 47.6 pips.

In the ECN Pricing account, major pairs have a commission of $0.0299 per 1,000 and $0.299 per 10,000. Al other assets have $0.0499 per 1,000 and $0.499 per 10,000. There is a fee of $30 for inactivity after 90 days with no trades executions.

Broker Platforms and Tools: Solutions for each kind of trader

FXDD offers a family of four platforms and a mobile solution. The Metatrader 4 and 5, a proprietary platform called WebTrader and the ZuluTrade solution for automated trading.

Metatrader 4 (MT4)

FXDD has an optimized version of MT4 where the trader can operate multiple assets. Experts Advisors can be used and leverage is from 1:1 to 1:500.

Metatrader 5 (MT5)

The evolution of MT4 offers advanced graphical charting tools, strategy testers and more pending orders solutions. MT5 puts news directly into the chart.

WEBTRADER

The FXDD proprietary platform has easy access anytime and anywhere. It offers advanced studies and tools for the experienced trader.

ZuluTrade

This automated trading platform allows traders to pick strategies developed by experienced traders.

Is Broker Mobile Friendly? FXDD is Well served in mobile

FXDD has a mobile-friendly website that works very well in any smartphone. The web is similar to the desktop version.

FXDD has two proprietary apps: The FXDD Europe JForex, and the iSwordfish, both can be downloaded in Android and iOS.

FXDD Europe JForex

An App powered by Dukascopy Bank and launched in 2012. It allows traders to check positions directly from charts and build  strategies based on multiple currency pairs.

iSwordfish

The iSwordfish app is the mobile version of the WEBTRADER desktop software. It provides real-time information, reporting options and a full list of order types.

Broker Promotions

There is no promotion or bonuses currently in play for new or actual customers. According to the customer service: “Under FXDD Global which is regulated under ESMA normative we are unable to offer any bonus or promotions.”

Broker Deposits & Withdrawals: Few options but all covered

FXDD has different payment methods including credit cards, bank's wire, and other electronic options. All redeemed funds will be returned the way the money was received. There are no fees, neither minimum amounts. FXDD accepts deposits in USD, EUR, GBP, JPY , CHF and BTC. Paper checks are not permitted. FXDD covers the costs of the first withdrawal per client each calendar month.

Broker Customer Support: An award winning tool

FXDD customer support is efficient. They answer questions around the clock. The most popular service is the chat, but if they they do callbacks. FXDD contact email is [email protected]

The customer service is offered in English, Spanish, Italian, Japanese, Chinese and Vietnamese. The firm has  Facebook, Twitter and YouTube accounts. FXDD has a complete FAQ page.

Broker Research and Education

FXDD provides users with many tools, white papers and trading guides. They also have historic 1-minute prices and an economic calendar powered by Metatrader and third-party research and news such as TraderMade and ForexLive. However, FXDD doesn’t provide users with enough educational resources for newbie traders.

Noteworthy Points to mention for Broker

In 2012, FXDD  was named next FX broker in USA and best FX trade executions by World Finance. It also won the Most trusted Forex Broker in Europe and the Best new platform in Europe in 2012 by Global Banking & Finance Review.

FXDD is also known for its sponsorships in top teams like the Red Bull Racing team in Formula 1 in 2010, the New York Rangers in 2009, and the student-run cycling club at the MIT from 2006 to 2015

The broker has a VPS service. The fee is $30, $40 or $85 if the customer doesn't maintain a minimum deposit of $2,500 and he trades a minimum of five, seven or ten standard lots in the previous month.

Conclusion for Broker

FXDD is one of the historic brokers in the Forex Industry. It has offshore services in Malta as it lost its US business in 2014 when all its US retail business was sold to FXCM. FXDD has a relatively good reputation, but the issue with the CFTC back in 2012 raises red flags.

The broker doesn't accept US customers, and it’s only regulated in Malta. Investors' money is secured by the MFSA for up to €20,000. FXDD review found that the broker is very competent and provides traders with the necessary tools to enhance their trading performance.

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