FXDD Reviews – Is FXDD safe or a scam?

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  • Country: Malta, USA
  • Regulation: NFA
  • 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
  • Scalping: yes

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.

FXDD Malta

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.

Risk warning!

This broker offers customer service Monday through Friday 24 hours while the markets are open. You can contact both by phone or email.

FXDD Services

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
  • Market participants
  • Exchange rates and sales margins
  • Basic chart types
  • Understanding of technical analysis
  • Understanding of fundamental analysis
  • Economic indicators
  • 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.

FXDD accounts

  • 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 4Mirror TraderCurrenex (Viking)
Novice tradersyesyesnot
Automatic tradingyesyesnot
Trading EAsyesnotnot
Minimum deposit500 USD500 USD2,000 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:

productsNew leverage
Main Forex pairs30: 1 or 3.33% margin
Main indices, gold and minor Forex pairs20: 1 or 5% margin
Lower indices, commodities and exotic Forex pairs10: 1 or 10% margin
Actions5: 1 or 20% margin
Cryptocurrencies2: 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.

Risk warning

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.

StandardECN
EURUSD20.4
GBPUSD2.40.5
USDJPY2.60.3
AUDUSD20.5
Gold0.30.12
Petroleum0.120.10
IBEX 3586.6
DAX 3075
SP5000.60.5

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.

FXDD reviews

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.

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