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FXDD Forex broker review: Fraudulent provider analysis

FXverify website, FXDD user reviews by verified traders with a live account, reviews page. Negatively, some FXDD users pointed out the broker’s limited choice of trading accounts and market spreads widening occasionally. Yes, FXDD has regulatory deposit insurance for traders opening an account with Malta’s FSA regulated entity. Retail traders’ deposits are covered up to €20,000 per claim. FXDD is a brokerage company offering trading services for clients since 2002 with offices in Malta. If traders are having trouble with a deposit or trading process, they can call the support team which is available 24 hours a day, or send a complaint by email and live chat.

FXDD also sources in-depth analytics from TraderMade, which delivers numerous trading ideas daily. The overall research section, especially Trading Central and TraderMade, represents a competitive product. I rank trading costs among the most defining aspects when evaluating a Forex broker, as they directly impact profitability. With fxdd broker review regards to global monetary policy, recent developments have been decidedly hawkish. The Bank of England has opened the door to a potential rate hike this year, and the Federal Reserve has lined up its taper initiation for as early as November. In this environment, we have typically seen the dollar bid, and today is no different.

Trading Asset list – what can you trade?

FXDD Trading demo account gives users the chance to test the broker’s pricing and execution on several asset classes, without risking any real money. FXDD proposes a hand-picked range of 90+ CFDs for trading, providing investors with access to multi-asset trading. FXDD’s trading platforms are available for web browsers, desktop terminals and mobile devices. FXDD proprietary platform, only for mobile devices. When working with a trustworthy rebate provider, there is no ‘catch’.

fxdd forex

The company offers trading in the Major currency pairs, cross pairs, emerging market pairs, gold, silver, and oil. As of August 2013, FXDD offers trading in 32 currency pairs, including the USD/CNY, USD/CNH, USD/MXN, USD/INR, and USD/KRW. When trading in FXDD, clients’ fund is securely stored in a segregated bank account, existing separately from company funds. FXDD Malta holds and operates under the rules laid out by Malta Financial Services Authority . Under the MiFID, the company is approved to provide cross-border services across the European Economic Area .

How do FXDD Trading rebates work?

Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Moreover, the leveraged nature of Forex trading means that any market movement will have an equally proportional effect on your deposited funds. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses.

The broker’s activities and services are regulated by such major international regulators as NFA, CFTC, MFSA and MiFID. FXDD provides traders with out-of-the-box MT4 and MT5 trading platforms, where MT4 remains superior. It is also enhanced via the Trading Central MT4 plugin, offering clients a more competitive trading experience. MT4/MT5 is available as a desktop client, a web-based alternative, and a mobile app. Demo accounts are available at FXDD, but there is a 90-day time limit, which is disappointing as many other brokers offer unlimited demo accounts. However, 90 days is a reasonably lengthy period to forward test trading strategies or for platform usability.

  • It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value.
  • Despite difficulties in performance on a month-over-month basis, we continue to think that US stocks are likely to be a strong performer during global liquidity withdrawal.
  • adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
  • The core of the technical analysis is to identify the trend…
  • To date, the company supports its own share capital, and the company FXDD adheres to the same protocol compliance and financial policies of the parent company Compagnie Financiere Tradition.
  • FXDD does not require a minimum deposit when opening a live account.

Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.

While the minimum costs are acceptable, they are higher than many competitors, where the average spread ranges between 0.0 pips and 0.1 pips. FXDD launched in 2002, and its history confirms traders can trust this broker. It has offices in Malta and New York and has services over 400,000 accounts. Overall, FXDD maintains a trustworthy and reliable trading environment. Social trading, including copy trading, is available through Mirror Trader and clients can also connect a live account to ZuluTrade to copy the positions of other traders.

Does FXDD allow scalping trading?

You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure. FXDD supports a limited number of languages including English, Italian and Portuguese. There are generally two approaches to trading forex. The core of the technical analysis is to identify the trend… Pivot points are an excellent leading indicator in technical analysis.

fxdd forex

But when I have deposited a larger amount, the problems have started, slippages, requotes and other. I’ve tried to withdraw the rest of the depo, but unsuccessfully, they asked for some incredible verification so I dropped that. Totally suck, my live acount, over 300 usd eaten by their so called stupid trick stopout … Close my trade without asking and my account still got over 300 usd.. Lot of reqoute, when price down they do not allow you to buy, when u clicked buy the system said connection error . Be careful…One guy Stephen Simonis from FXDD called me up and asked to make a deposit.

Globally Regulated

To ensure that the platform runs properly be sure that you have the latest Java Runtime Environment on your computer. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. It matters a lot when a broker, regardless of its size, helps you solve your query when it’s actually a holiday. I had a problem with withdrawal on during the local holiday, so local fxdd team came ot rescue and made sure my transfer went thtrough.

As for the payment methods, you can choose between Credit/debit cards, Neteller, UnionPay and Wire transfer. The customer support is available via Email, Live chat and Phone. Monthly cash back Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. Spread or commission reduction The trader actually receives reduced commissions and/or spreads.

Established in 2002, FXDD tries to build and maintain a great trading environment and provide superior service for clients. They currently offer trading in 6 asset classes from their offices in Malta and New York. It is are generally well-suited for FXDD to provide their Forex/CFD trading services to global clients. Traders like both platforms, and these are the world’s famous trading platforms. Both are available to download for IOS, Mac, PC, and Android. Also, the web trader platform is easy to use from any device and web browser.

Tough offers uncompetitive accounts but FSC related account provides the better trading opportunity, features, and trading environments. The ECN pricing offers raw, direct spreads, a small commission, and markup free trading. It has the fastest execution and a 99% fill rate.

As you can see, the minimum spread for trading EUR/USD at FXDD is 1.6 pips, which is rather high when compared to the average EUR/USD spread of 0.70 pips. The table below compares how much it would cost to trade one lot of EUR/USD with FXDD against other brokers. FXDD receives raw price data for all trading instruments from its Liquidity Providers and data providers such as regulated markets, multilateral trading facilities and executing brokers. FXDD offers over 30 currency pairs and the popular Meta Trader 4 platform to trade on, as well as the proprietary FXDD trader and Mirror Trader platforms. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.

FXDD accepts account deposits with bank wire, credit & debit cards, China Union Pay, Skrill and Neteller. Yes, traders can earn rebates from trading with FXDD. Register for free and test your trading strategies, open a FXDD Trading demo trading account with no risk and no obligation now. Generating a total rebate value in excess of 14% of average account equity monthly could be considered grounds for rebates being voided due to broker policy. They’ve been fined several times by the authorities of Malta (where they’re registered) for artificially bloated slippage. It means people expected to lose just a little bit of money in spreads and ended up losing much more than that.

When I see that my leverage exceeded 10, I immediately deposit money. However it did not come to my account for 5 hours. I decided to chat with the support but they were telling me it will take extra 10 hours or so. According to them, it is not possible to get the deposit for extra 10 hours. FXDD’s innovative solutions are your gateway to the Forex market. We are revolutionary thinkers in trading who have set the trend in Forex by delivering new technologies backed by world-class support for individual and institutional traders.

November 7, 2022

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