Country: Malta, USA
Type: Market Maker and ECN
Markets: Forex, CFDs, Vanilla and Binary Options
Deposit: USD 500
Methods: card, transfer, Neteller
Platforms: MetaTrader4, Viking (Currenex), Mirror Trader
Spread: 2 EURUSD standard, 0.2 in ECN
Commissions: yes on ECN account
What is FXDD?
FXDD is one of the most veteran and well – known brokers on the world Forex scene.
Along with Oanda, FXCM or IG Markets, it is one of the oldest brokers on the market.
FXDD is based in New York and offers its services to clients around the world.
FXDD is registered with the NFA, the futures membership association of the United States.
Despite having its origin in the United States, FXDD has the majority of its clients outside the North American giant and offers its international services from its Malta office.
This is so because this broker specializes in Forex and CFDs trading, being the second of these prohibited in the United States, and taking into account, in addition, that the first has strong restrictions in that country.
This broker offers customer service Monday through Friday 24 hours while the markets are open. You can contact both by phone or email.
FXDD offers its clients various options for training in the Forex and markets.
Among them we have manuals and trading guides that can be studied both through reading and through videos.
Among the currency tutorials, we can find the following:
Introduction to Forex
Exchange rates and sales margins
Basic chart types
Understanding of technical analysis
Understanding of fundamental analysis
And many more still.
The guides can be downloaded for free, although they are in English.
Discover which are the best brokers on the market
Among them we will have the following:
Forex pairs guide
Guide to emerging market Forex pairs
Guide to major Forex pairs
Guide to raw materials
FXDD also offers various institutional trading services.
One of the best known is the introductory broker offering for other companies that want to use FXDD liquidity on their behalf.
Likewise, FXDD offers capital management services and all possible facilities for capital managers and their clients.
The minimum to open an account with FXDD is 500 USD.
The deposit methods will be: credit card, Clickandbuy, transfer and Neteller.
FXDD offers several platforms, including MetaTrader 4 , Mirror Trader, VikingTrader, and the binary options platform.
Their characteristics are as follows:
MetaTrader 4 Mirror Trader Currenex (Viking)
Novice traders yes yes not
Automatic trading yes yes not
Trading EAs yes not not
Minimum deposit 500 USD 500 USD 2,000 USD
In July 2018, a new maximum leverage will be applied for traders residing in Europe by ESMA regulations. The same, which will apply to Forex products and CFDs we have in the following table:
products New leverage
Main Forex pairs 30: 1 or 3.33% margin
Main indices, gold and minor Forex pairs 20: 1 or 5% margin
Lower indices, commodities and exotic Forex pairs 10: 1 or 10% margin
Actions 5: 1 or 20% margin
Cryptocurrencies 2: 1 or 50% margin
FXDD commissions spreads
FXDD offers trading in Forex, CFDs and vanila and binary options.
The number of markets is quite wide and we can choose between two types of basic trading: standard or ECN.
With the standard we will operate without commissions and with the costs included in the spread that will be more or less fixed.
With the ECN we will have much lower spreads but commissions will have to be paid .
Commissions for major currencies are $ 2.99 per lot for major pairs and $ 4.99 per lot for all other pairs.
EURUSD 2 0.4
GBPUSD 2.4 0.5
USDJPY 2.6 0.3
AUDUSD 2 0.5
Gold 0.3 0.12
Petroleum 0.12 0.10
IBEX 35 8 6.6
DAX 30 7 5
SP500 0.6 0.5
With the FXDD Spot Binary Trader platform we will be able to trade in the main binary options in the world and with the different modalities typical of these instruments, including, of course, 60-second operations, among many others.
This is one of the most veteran brokers on the market and one that offers a variety of services and broader trading, offering something for all tastes.
From trading for newbies to trading for professionals with Viking’s Currenex, as well as social trading with Mirror Trader or trading in binary options.
It is, therefore, one of the most versatile and solid brokers on the market.