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However, when you’re done trading and what to withdraw your money, they’d ask you for all sorts of documentation, including even your own photo. Depending on the type of product, the numbers would change, but the usual fee was $40. The deposits, meanwhile, wouldn’t be charged at all and there would be a fairly large selection of transfer means .
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. 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. 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. FXDD complies with the highest safety standards for client’s funds.
FXDD allows for social trading, including copy trading, via the CopyFX account and MQL Signals. FXDD pride themselves on their speed of execution and superior customer service. These key advantages of using the platform spring from the company’s dedication to making the trading process as easy and safe as possible. As with their platform offerings, the company performs very well in this department.
With four supported platforms, including FXDD’s proprietary Webtrader which offers web-based trading with full functionality, there is no room for error from a technical point of view. FXDD performs well where reliability is concerned, with effortless login and registration procedures that will have traders ready to use the system in a matter of minutes. When traders register their accounts, they will be asked to choose between a Malta and Mauritius account. The Mauritius account offers relatively little in the way of deposit protection but makes up for this with a higher leverage allowance. Traders who have a keen risk appetite may want to opt for a Mauritius account to take full advantage of this flexibility.
FXDD Regulators
Any information or advice contained on this website is general in nature only and does not constitute personal or investment advice. 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. This is actually the major problem, but it neatly compliments the previous problem. See, they rarely return your money after you’ve submitted a withdrawal request. When they feel like explaining, they sometimes summon the security problems or say nothing at all.
- FXDD complies with the highest safety standards for client’s funds.
- Reliability is essential for any online trading platform, and FXDD’s 18 years of experience in the market have given the company ample opportunity to refine its offerings.
- Cryptocurrency is becoming more popular by the day, and FXDD’s Ethereum, Ripple, Litecoin and Bitcoin trading options will definitely be a welcome feature for traders in 2020.
- Their urge to let anyone in as smoothly as possible actually resulted in them being scammed by a fraudulent user who somehow manipulated the prices, which resulted in some funny litigation.
- FXDD holds client’s money separately to the company funds and does not use these funds for any operational expenses or purposes.
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. FXDD provides clients with a competitive range of trading options, as it has since it was founded in 2002. This broker currently accepts clients from 180 countries, and offers a variety of trading accounts. FXDD is regulated by both the Financial Services Commission of Mauritius and the Malta Financial Services Authority.
FXDD Overview
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.
Traders will want to compare the spreads on various currency pairs as they certainly differ depending on the currency. 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.
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. To access the better trading conditions of the ECN , FXDD will charge a broker commission. With an ECN account, the standard lot commission for 1 lot is 6 USD commission (3.0 USD per side/per lot). We consider this commission to be quite in line with other top brokers. On one hand, you have a Standard account, which means you’ll be trading through this broker, and they’ll be your mediator with the other side. You’ll be paying moderate spreads, but they promise there won’t be any slippage.
Accounts, Instruments and Platforms
In order to trade any of these products, you would need one of the two account types. Unlike many other brokers, they don’t have a ‘gradual access’ type of account division, but rather a technical split. Currently, FXDD trading accounts are available in USD, EUR, GBP, JPY, CHF and BTC. FXDD Malta Limited is a member of the Malta Investor Compensation Scheme , a rescue fund for customers of failed investment firms which are licensed by the Malta Financial Services Authority . Deposits are free on the FXDD system, and so is one withdrawal of funds per month.
If not for their many shortcomings , it would be a very good broker with an outstanding selection of assets to trade. For accounts opened via FXDD Mauritius Ltd, there is no Negative Balance Protection. Without NBP, FXDD Mauritius Ltd customers https://forex-review.net/ are not protected from any losses bigger than their original investments, in cases of extreme market volatility. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
Their urge to let anyone in as smoothly as possible actually resulted in them being scammed by a fraudulent user who somehow manipulated the prices, which resulted in some funny litigation. They are a scam, however, and this was confirmed both by people who keep track of such malevolent brokers and by the authorities. Indices – 11 world indices, including US 30, UK 100 and NIKKEI 225.
They are generally a fraud company, this much should be clear – there’s a lot of evidence. But if you put your finger on something specific, these several problems would be major. The local currency pairs don’t just include the big players, like USD, GBP and EUR, but also countless smaller currencies. They are less liquid and more volatile – but such abundance also means more depth and room for strategic thinking. When an account has been deemed inactive for a period of 90 days, FXDD will apply an inactivity fee of 30 USD.
FXDD Account Types
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. Reliability is essential for any online trading platform, and FXDD’s 18 years of experience in the market have given the company ample opportunity to refine its offerings.
Daily market updates and analysis, wave analysis, price action, webinars, and constant market data updates are some of the features that make FXDD an engaging and rewarding platform for forex traders. Overall, FXDD is a comprehensive, low-commission online forex broker with a good range of asset types and platforms to choose from. Traders who are looking fxdd review for a budget-friendly, low deposit platform with a respectable number of forex pairs and other tradable assets will probably find a good deal of value in FXDD’s offering. 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.