FXDD Review 2020 - Verified Customer Reviews

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4.1
User Rating
4.4
(19)
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FXDD Review

Updated November 05, 2020
4.1
Score breakdown
Pricing: 4
Regulation: 4
Popularity: 4
User Rating: 4.4 (19)

FXDD overall score rank: 8 out of 35

FXDD forex broker review
KEY TAKEAWAYS

  • Excellent choice of trading platforms
  • Accepts BTC deposits
  • No fees on deposits/withdrawals
  • Regulated in Malta and Mauritius

Regulations and Money Protection

4.0  


Entity Name FXDD Mauritius Ltd (MU) FXDD Malta Limited (EU)
Licence & Regulation Mauritius FSC Licence Malta FSA Licence
Client Money Protection ✔️ - segregated client money
Deposit Compensation Scheme ✔️
up to €20,000
Negative Balance Protection ✔️

Entity/Regulation

  • International customers: FXDD Mauritius Ltd will be the counterparty for International customers. This entity, with registered address in C/o Abax Corporate Services Ltd, 6th Floor, Tower A, 1 Cybercity, Ebene, Mauritius, is regulated by the Financial Services Commission of Mauritius (FSC) with licence number C117017252.

  • European customers: FXDD Malta Limited, with address at K2, First Floor, Forni Complex, Valletta Waterfront Floriana, FRN 1913 Malta, is regulated by the Malta Financial Services Authority (MFSA) with licence number IS/48817. The Malta FSA licence allows FXDD Malta Limited to carry out brokerage activities in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.

Client Money Protection

  • FXDD complies with the highest safety standards for client's funds. For this reason, FXDD client's funds are kept in top-tier international investment banks, fully segregated from the company's funds.

  • FXDD also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. FXDD holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

FXDD Malta Limited is a member of the Malta Investor Compensation Scheme (ICS), a rescue fund for customers of failed investment firms which are licensed by the Malta Financial Services Authority (MFSA). If FXDD Malta Limited is unable to meet its obligations, clients might be entitled to compensation up to the value of €20,000, or 90% of an investor's eligible claims, whichever is the lower, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

Negative Balance Protection

  • For accounts opened via FXDD Mauritius Ltd, there is no Negative Balance Protection. Without NBP, FXDD Mauritius Ltd customers are not protected from any losses bigger than their original investments, in cases of extreme market volatility.

  • For accounts opened via FXDD Malta Limited there is a default NBP in place, protecting traders from any losses bigger than their original investments, in compliance with ESMA regulations.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Standard
✔️ECN
✔️PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
✔️Stocks
❌Futures
❌ETFs
❌Bonds
✔️Commodities
❌Cryptos
✔️MT 4
✔️MT 5
❌cTrader
✔️Web Trader
✔️FXDD Mobile*
❌Myfxbook
✔️ZuluTrade**
30:1 Europe

500:1 Rest of World

Account types and currencies

  • FXDD offers two types of trading accounts; Standard and ECN. FXDD also offers swap-free accounts for traders of Islamic belief.

  • FXDD allows for social trading, including copy trading, via the CopyFX account and MQL Signals.

  • FXDD has MAM and PAMM accounts alternatives for money managers.

  • FXDD maximum leverage is 30:1 for accounts opened within Europe and up to 500:1 for accounts opened in other countries around the world.

  • Currently, FXDD trading accounts are available in USD, EUR, GBP, JPY, CHF and BTC.

    *FXDD Mobile account not available to International customers
    ** ZuluTrade account not available to European customers

Financial instruments

Trading with FXDD can be done via the Metatrader 4, Metatrader 5 available for desktop and mobile, FXDD's own WebTrader and the FXDD Mobile App, available for Android and iOS. FXDD offers a good selection of more than 12,000 assets to trade, including Forex, indices, stocks, commodities and cryptocurrencies.

  • FX market - 67 currency pairs (including Minor and Exotic crosses).

  • Indices - 11 world indices, including US 30, UK 100 and NIKKEI 225.

  • Stocks - 17 stocks CFDs from global top companies and banks, such as Tesla, Facebook and Amazon.

  • Commodities - 10 commodities CFDs available for trading; 7 combinations for metals and 3 energies, with UK Oil, US Oil and Nat Gas.

Pricing

4.0  


Pricing/
Account
Standard ECN
Spread EUR/USD from 1.8 pip from 0.1 pip
Commissions (1 lot) from 6 USD
Minimum Deposit from 0 USD from 0 USD

Spreads

FXDD trading spreads are not the most competitive in the market for the entry-level account (Standard). For the most traded pair, the EUR/USD, the spread starts at 1.8 pip. On the positive side, with an ECN account, the EUR/USD minimum spread is 0.1 pip (typically 0.2 pip).

To access the better trading conditions of the ECN (lower spreads), FXDD will charge a broker commission. With an ECN account, the standard lot commission for 1 lot (100,000 units) is 6 USD commission (3.0 USD per side/per lot). We consider this commission to be quite in line with other top brokers.

Rollover Rates

FXDD swap rates, as of 01-10-2020 for the EUR/USD stand at -5.10 for holding overnight a 1 lot long contract and at +0.10 for holding overnight a 1 lot short contract. In their defense, these swap rates are slightly lower compared with other brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 6 different currencies and maintained via different funding methods, including cards, bank wires and e-payments such as Neteller and Unionpay. FXDD does not charge any fees for deposits.

  • Withdrawals fees - FXDD will cover the costs of the first withdrawal per calendar month. Additional redemptions within the same calendar month will be charged 40 USD and an extra 25 USD for bank withdrawals, if the amount is below 100 USD or equivalent.

  • Inactivity fee - FXDD charges a Trading Inactivity fee. When an account has been deemed inactive (no trading activity) for a period of 90 days, FXDD will apply an inactivity fee of 30 USD.

Popularity

4.0  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Market Analysis
Trading Guides
Weekly Research
Cards
Bank Wire
E-payments
Bitcoin
❌/Conditions apply ✔️ Multi language
24/5 Support
Live Chat

Opened for business in 2002 and several thousand trading accounts opened in more than 17 years of business, FXDD seems to have their fair market share and managed to capture the attention of traders. The company also believes in educating traders, by giving away the resources needed to improve client's trading experience and results.

FXDD is also a popular Forex broker with traders for the variety of trading platforms on offer. Trading can be done with MT4 and MT5, available on desktop, Android and iOS versions. Also available the WebTrader, FXDD's own proprietary trading platform, with a web-based interface for easy access anytime, anywhere. For the more experienced trader, this platform offers robust charting on the go and is available with the ECN and Standard accounts.

  • Trading accounts - The FXDD ECN account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $6.00 per lot traded. Extra points for FXDD's policy of no fees on deposits or withdrawals.

  • Forex education - FXDD also gets extra popularity points for their good range of Forex education materials, available through the Resources tab. FXDD clients can access market analysis and forecasts, with daily articles and expert market analyst's comments. Also available FXDD trading guides with some Forex trading courses.

Funding Methods Bank Wire, China Union Pay, Credit Card, Neteller, Skrill (Moneybookers), Debit Card
Support Languages 13 languages


  • Minimum deposit - Opening a trading account with FXDD is quite easy and fast, taking around 12 minutes to complete all the forms with the required information. The minimum deposit requirement with FXDD is 0, of course with a zero balance customers will not be able to open any trades. But FXDD traders have an opportunity to test the real trading conditions, like how the spreads widen on high impact news, and the broker's trading platforms.

  • Customer support - FXDD's multi language customer support service is available 24 hours, 5 days a week, in 13 languages. FXDD's support is available via direct phone call, or even by requesting a call-back, webform, email and through live chat directly from their website.

Broker Profile

Founded in 2002 and headquartered in Malta, FXDD is an emerging hub for foreign exchange trading and global finance. FXDD Malta Limited holds and operates under the rules laid out by a Category 3 License from the Malta Financial Services Authority (MFSA).

Under the EU's MiFID II (Markets in Financial Instruments Directive), FXDD Malta Limited is approved to provide cross border services across the European Economic Area (EEA). FXDD offers trading solutions to individual and institutional traders, hedge funds, money managers, white labels and introducing brokers; all of which are tailored to each specific traders needs and strategies.

FXDD innovative solutions are a gateway to the Forex markets, by delivering new technologies backed by world-class support for individual and institutional traders. FXDD customers can take advantage of a diverse range of products, Forex, metals, stocks, indices and commodities CFDs. FXDD offers trading via the Metatrader 4 and 5 available for desktop and mobile, and via their proprietary platform WebTrader, also available for desktop, Android and iOS.

Overall, on our FXDD review, the broker scores 4.1 out of 5 as it is a good choice for traders (within Europe) looking for a reputable broker with safety of funds. On the downside, the protection offered by the Mauritius regulator is quite basic and that could scare-off many customers. Also, on the negative side, the overall cost of trading with FXDD is higher compared with other top brokers, with uncompetitive spreads and account related fees.

Data supplied in partnership with CashBackForex - Forex Rebates places FXDD on the top 25 brokers for popularity with traders opening an account in 2020.


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FXDD User reviews

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4.4
(19 reviews)

FXDD user rating score rank: 6 out of 35

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FXDD Products

Forex
Cryptocurrencies
Indices
Metals
Bitcoin
Oil/Energies
Shares/Equities