FXDD Review 2023 - Verified Customer Reviews

Regulations and Money 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

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

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

• 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

Spreads

Rollover Rates

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

• 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.
  
  

• 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