Worth to Know

    • US traders
    • PAMM accounts
    • Islamic accounts
    • Mini accounts
    • Segregated accounts
    • Vip accounts
    • Scalping
    • Hedging
    • Trailing stops
    • Commition
    • Bonuses
    • Mobile Trading
    • Web-based traiding
    • Expect Advisors
    • Metals
    • Oil
    • Gold
    • Stocks
    • Commodities
    • CFDs

General Information

    • Broker Name
    • FXDD
    • Founded
    • 2002
    • Headquaters
    • K2, First Floor, Forni Complex, Valletta Waterfront Floriana, FRN 1913 Malta
    • Broker type
    • DD (Dealing Desk), NDD (No Dealing Desk), ECN (Electronic Communication Network)
    • Regions
    • Arabic, Chinese, English, French, German, Japanese, Portuguese, Russian, Spanish, Turkish, Vietnamese
    • Payments Methods
    • ClickandBuy, Credit/debit cards, Skrill (Moneybookers), Wire transfer
    • Minimum Deposit
    • $100
    • Min lot size
    • 0.01
    • Spread
    • 1.3 pip
    • Spread type
    • Fixed
    • Max Leverage
    • 200:1
    • Platforms
    • MetaTrader 4, Currenex Viking, MirrorTrader, ZuluTrade, JForex, Swordfish, FXDD Trader

Read Review of FXDD Broker

General Information

FxDirectDealer (FXDD) was registered in Malta in 2002. Currently it is based in New York.

FXDD is one of the leading brokerage companies in the world. The main reason for the broker being so popular is the high quality of its services due to wide use of advanced trading and information technologies.

FXDD has customers in almost 200 countries of the world.

Tight cooperation with largest international banks ensures high liquidity of the company and allows it to offer unique trading conditions to its clients.

Deposits and Withdrawals

To make a deposit or withdraw funds from the trading account, FXDD customers can use one of the following financial instruments:

  • Visa, MasterCard, Western Union credit cards;
  • PayPal, WebMoney E-Wallets;
  • Bank transfer.

High level of safety of money transfer is a distinctive feature of the broker setting it apart from its competitors.

Moreover, the company charges no additional commission for transfers. Transfers with the use of banking products are made within 1-3 banking days (exact transaction period is specified by banks). E-Wallet payments are processed within one banking day.

Reliability

Financial activity of FXDD is regulated by the following agencies:

  • the Malta Financial Services Authority (MFSA IS:48817), which complies with the European Markets in Financial Instruments Directive (MiFID);
  • FCA (ID# 524754).

FXDD pays great attention to the safety of money transfers. Customer funds protection is also of great importance to the company. Apart from traditional protection methods, such as segregated accounts, the company is offering unique insurance and risk management programs to its customers thanks to close cooperation with major insurance companies and hedge funds.

Owing to the strong financial support from reliable partners, FXDD is ranked among the most reliable and high-liquidity brokers.

Bonuses and Promotions

FXDD currently holds no promotions and offers no bonuses. The company only compensates a withdrawal commission once a month.

Trading Accounts Types

FXDD has an internal classification of trading accounts:

  • Individual accounts (a customer can trade on a live account on its own);
  • Joint accounts (an account is managed by more than one client);
  • Corporate accounts (trading accounts of legal entities);
  • Trust accounts (trading account opened by a trustee or an authorized person on behalf of a real owner of the account);
  • Pension accounts.

The latter two types of accounts (trust and pension accounts) can be opened only by US customers.

With regard to trading conditions, live accounts of FXDD are of two types:

  1. Standard;
  • minimum deposit – $2 000 USD;
  • minimum traded volume – 0.1 lot;
  • variable spread from 0.8 pip;
  • maximum leverage – 1:500;
  • ECN commission – $12-20 USD for $1 million USD of trade volume.
  1. Mini.
  • minimum deposit – $250 USD;
  • minimum traded volume – 0.01 lot;
  • variable spread from 2 pips;
  • maximum leverage – 1:500;
  • ECN commission – $12-20 USD for $1 million USD of trade volume.

Live accounts can be opened in the following currencies:

  • USD;
  • EUR;
  • JPY;
  • GBP;
  • AUD.

Trading Platforms Types

Traders and investors who are customers of FXDD can trade using the following trading platforms:

  • FXDD Power Trader;
  • FXDD Metatrader 4;
  • MTXtreme;
  • FXDD Trader;
  • FXDD Auto;
  • Currinex;
  • JForex.

These are either unique corporate solutions or substantially modified and upgraded popular platforms.

Customer Service

Customer service of the company provides all the necessary information on 24/5 basis. Support representatives can give professional advice on any trading issue and assist in solving technical problems.

There are the following customer service options:

  • Multiline phone (call back);
  • Email;
  • Live chat.

Customer support is available in 14 languages:

  • English;
  • Spanish;
  • Chinese;
  • Japanese;
  • Arabic;
  • Vietnamese;
  • German;
  • Portuguese;
  • Russian;
  • French;
  • Turkish.

Instructional videos, which are in free access on the company website, are worth special mention. Watching these videos, you can learn trading platforms peculiarities and find out more about advantages of using various trading and financial tools.

Pros of Trading with FXDD

Bold use of modern trading, information and financial technologies allows FXDD to hold a leading position among Forex brokers.

Well-planned and very careful selection of partners among banks and other financial institutions enables the broker to offer unique trading conditions, among which the following are worth special emphasis:

  • Narrow spreads (zero for some currency pairs);
  • Transparent pricing patterns and policies;
  • High level of marginal funds safety;
  • High quality of order execution;
  • Powerful multilingual software;
  • No commissions and other hidden charges.

Cons

Bureaucracy typical for US companies can be counted as a disadvantage. It takes up to three weeks to complete all the required documents.

FXDD Reviews

Texosa: In my view, it’s the best ECN platform as for now. I have been working with the broker just for half a year but I can safely say that no other brokers have such accurate order execution (believe me, I have much to compare it to). Excellent information support. Payments through online payment systems were sometimes processed within just 2-3 hours. I would recommend it to all. Still, there is one sting. If you decide to cast in lot with FXDD, be patient. It may take “some time” to complete the documents. With me, it took almost six weeks.

Odednerra: When reading FXDD reviews I’m constantly stumbling on praising of “the money transfer protection system”. All payments are made in full and in due time (sometimes even faster) – that’s true. What is especially attractive at FXDD is its trading platforms and accurate order execution. FXDD Power Trader is just a gem. A possibility of constructing any graphs alone is worth much.

Conclusion

FXDD’s priority is ensuring high level of customer funds safety as well as offering and supporting unique trading conditions.

It is difficult to evaluate the quality of the safety system from the standpoint of a trader. We start to think about it only when lacking it. Strict deposit/withdrawal procedures are noteworthy.

As for the quality of services, all the company statements are proven in deed. Conditions the broker is offering are exceptional in many respects.

Every trader knows that “accidental” slippages often happen at ECN brokers. FXDD trading platforms are arranged in the way that makes such “accidents” almost impossible.

To sum up, it must be admitted FXDD is worthily considered one of the best ECN brokers in the world. Even the Maltese registration cannot hide the American approach to solving technical issues.

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