FXDD Review 2020
Founded in 2002, FXDD are a regulated online broker with flexible trading platforms and accounts. They have a selection of useful trading tools with daily market analysis and educational materials.
FXDD Review 2020, Pros & Cons
- Segregated client funds
- Negative balance protection
- Investor Compensation Scheme
- Commission free accounts
- Trading central
- Free VPS
- No US clients
- Restricted leverage for EU clients
- No fixed spread accounts
- Limited deposit / withdrawal options
In this detailed FXDD review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FXDD is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including FXDD.
FXDD Review: Summary
FXDD was founded in 2002 and provides traders across the world with access to trade the global markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. They aim to offer competitive spreads and commissions with good execution speeds and no limitations on trading strategies.
FXDD claim to have over 400,000 accounts opened, 350+ million orders processed and 8+ trillion on transaction volume. Their history has enabled them to establish an abundance of knowledge to offer a personalised trading service that utilises powerful technologies.
FXDD offer a range of flexible trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms which are free to use on desktop, web and mobile. The friendly and experienced customer service team is on hand to answer all general and technical questions in a prompt and efficient manner.
FXDD primarily acts as a counterparty to client’s trades, executing them at the best prices offered by their liquidity providers (LPs). The system implemented will automatically select the best available price to display on client’s platforms. Despite this conflict of interest, most client orders are executed top of the book with no discrimination in prices between clients and no compromise on execution. They also operate as an agent in which instance client’s transactions are received and transmitted to other liquidity providers.
FXDD have a robust back-end price feed infrastructure with data coming from liquidity providers (LPs) such as regulated markets, multilateral trading facilities (MTFs), executing brokers and others. They are not over reliant on one provider and manage risks in compliance with a risk management framework. LPs must pass a due diligence process conducted by the by risk and compliance departments and are continually reviewed.
FXDD are always monitoring their prices compared to the market via internal monitoring measures and third-party solutions. Prices are monitored around execution time within specific thresholds against market price and the underlying instrument. They have also developed an in-house application that can keep track of any discrepancies of price levels and latency of all price feeds.
FXDD Review: Regulation
FXDD Malta Ltd is regulated by the Malta Financial Services Authority (MFSA) with license number 48817. They operate under the rules laid out by a Category 3 License from the MFSA.
FXDD Malta Ltd is authorised to operate and provide cross border investment services in all the countries within the European Economic Area (EEA). Due to the European Securities and Markets Authority (ESMA) FXDD Malta has some trading restrictions such as limited leverage.
FXDD Mauritius Ltd is authorised and regulated by the Financial Services Commission (FSC) with license number C117017252.
FXDD client funds are held in segregated bank accounts that are separate from the company funds so should not used for any purpose such as company running costs.
All retail clients have negative balance protection which means that they cannot lose more than the funds in their trading account. This helps to give clients extra protection as FXDD will absorb negative balance in extreme market conditions.
FXDD Malta’s customers who are eligible could claim up to €20,000 compensation through the Investor Compensation Scheme in the event that the company becomes insolvent. Professional clients or eligible counter parties are not eligible for compensation as they fall out of the scope of the Investor Compensation Scheme which was set up as a protection for retail customers.
FXDD Review: Countries
FXDD accepts clients from most countries excluding the USA and some other jurisdictions where there are strict regulations in place. Some FXDD broker features and products mentioned within this FXDD review may not be available to traders from specific countries due to legal restrictions.
FXDD Review: Trading Platforms
FXDD offer two of the most popular trading platforms which are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MetaTrader is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). They also offer their proprietary WebTrader platform.
MetaTrader 4 (MT4)
MT4 is the dominant platform in the industry, primarily due to its powerful charting and trading tools. It is known for its user-friendly intuitive interface and offers a pleasurable trading environment with all the functionality required for most novice and experienced traders.
MT4 features a highly customisable interface with real time price quotes for trading instruments displayed in the market watch window. It supports multiple order types, 9 chart timeframes, 3 chart types (candlesticks, line & bars), one click trading, alerts and automated trading. There are 50+ built in technical indicators for analysing the charts to find potential trade opportunities.
MT4 has a built in MetaEditor where users can programme their own custom indicators or automated trading systems (expert advisors) in the MQL4 language. There is a built-in strategy test for historical testing of expert advisors. The online market place contains customised tools that can also be added to the platform.
MetaTrader 4 (MT4) Mobile
MT4 is available for traders who wish to trade whilst on the go from their mobile or tablet devices. Both Android and iOS apps are supported, featuring full charting packages and access to all trading functionality. Users can execute trades and check positions from anywhere at any time, provided they have an internet connection.
MetaTrader 4 (MT4) Web
The MT4 web platform includes all of the same features and functionalities of the other platforms but can run directly within most popular web browsers. This eliminates the need to download and install any additional software. All you require is a web browser to have instant access to full trading and charting functionality.
MetaTrader 5 (MT5)
MT5 is the follow up trading platform to MT4 that maintains a similar look and feel but contains some more advanced features such as additional graphical charting tools, more technical indicators, more timeframes, a multi-currency strategy tester, a range of extra order types and more.
MT5 can display economic events directly on charts which is useful as part of a fundamental analysis. Users can get additional tools and signals from the built-in marketplace.
MetaTrader 5 (MT5) Mobile
Users can trade the financial markets whilst on the go by using the MT5 mobile application that contains the same features and functionality of the desktop platform from the palm of your hands. The MT5 app is freely available from the relevant app stores for Android, iPhone and iPad.
MetaTrader 5 (MT5) Web
The MT5 web platform enables traders to access the markets from most web browsers without needing to download or install any additional software. The web platform contains the same features and can be accessed from any Windows, Mac OS X or Linux-based computer with a browser and internet connection.
FXDD have their very own proprietary trading platform that has an intuitive web-based interface providing easy market access at anytime from anywhere. It is available with ECN and standard pricing whilst being simple enough for novice traders to use and containing enough robust charting tools for the more experienced traders.
FXDD developed the WebTrader platform after listening to the needs of their clients over the years they have been operating. It contains highly customisable charting and advanced charting tools with scripting and indicators readily available. One click order execution is supported as are expert advisors. Users have access to competitive pricing over the full range of FXDD trading instruments. WebTrader supports Windows, Mac, Web, iOS and Android.
FXDD Review: Trading Tools
FXDD have a selection of useful trading tools that can assist with market analysis, trade planning, money management and more.
FXDD have partnered with Trading Central to provide quality technical and fundamental analysis to its client base. Clients can easily gain access to Trading Central’s powerful analysis from the client portal and via the MT4 indicator plugin. Users can also subscribe to receive daily market analysis newsletters from Trading Central, delivered directly into your inbox.
Trading Central is renowned for award winning technical analysis and research which is used by traders to help identify potential trade opportunities. It contains automated pattern recognition software with alerts and daily expert market analysis.
FXDD offer a range of trading calculators which can quickly calculate margin values, position sizes, pivot points, Fibonacci levels and more. These calculators can help with planning and managing your trades.
A virtual private server (VPS) allows users to run their trading platform 24/7. This is useful if you cannot always have your computer switched on or if you wish to run an automated system around the clock. You can access your platform from any computer without downloading it and efficiently run multiple strategies with improved latency.
To qualify for a free VPS, FXDD clients must maintain a minimum account balance of at least $2,500 and trade a minimum of 5 lots per month. The volume of trades will determine the package a client qualifies for whilst clients will be charged if they do not meet the minimum requirements but request the VPS.
The economic calendar is powered by MetaQuotes and displays the latest economic news releases including the date/time of the release, country affected and impact level from low, medium to high. The calendar also displays the previous, forecasted and actual results of the releases. This can help as part of a fundamental analysis and to keep up to date with the latest market happenings.
All FXDD clients gain access to the customer portal from where they can manage all of their accounts from an intuitive interface.
FXDD Review: Education
FXDD have some helpful educational materials on their website including trading guides, tutorials and frequently updated market analysis.
FXDD have a selection of trading guides which can help to improve the market knowledge for traders of all levels. The guides can be viewed online or downloaded as PDF’s. They are vey detailed and easy to follow with illustrations included.
Live Trading & Education
FXDD have a wide range of frequently updated market analysis to help inspire trading ideas and stay informed with the latest market movements from industry expert’s analysis.
FXDD run regularly scheduled live trading and educational programs by award-winning market researchers Chris Svorcik and Nenad Kerkez. These programs can help with learning how to trade through a weekly series of live video sessions.
The FXDD website contains a number of sections for market analysis including award winning price action analysis by Nenad Kerkez, wave counts analysis by Chris Svorcik, quick pick video analysis of different trading instruments and daily analysis from the institutional-level research TraderMade team.
Glossary & FAQs
FXDD have a trading glossary containing a collection of frequently used trading terms along with their meanings. The frequently asked questions (FAQ) section covers many topics and provides instant access to some commonly asked questions related to trading and FXDD’s services in general.
FXDD Review: Trading Instruments
FXDD offer a selection of tradeable instruments across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
FXDD have 60+ FX currency pairs including major, minor and exotic crosses.
FXDD offer trading on metals including Gold (USD and EUR terms), Silver (USD and EUR terms), Copper, Platinum and Palladium.
FXDD offer trading on energies including WTI Oil, Brent Oil and Natural Gas.
FXDD have some of the major global indices available to trade including AUS200, FRA40, GER30, UK100, ESP35, USA30, NAS100, SPX500, HKG33 and JPN225.
FXDD clients can trade some of the most popular cryptos such as Bitcoin, Litecoin, Ripple and Ethereum.
FXDD offer a range of stocks for trading as contract for differences (CFDs) including major companies such as Amazon, Apple, Facebook, Tesla and more.
FXDD Review: Trading Accounts & Fees
FXDD offer a standard and ECN account, with a minimum deposit requirement of just $10.. The standard pricing account has marked up variable spreads but charges no commission fees whereas the ECN pricing account has lower direct raw variable spreads and a competitive commission fee aroun $3. If you wish to use the FXDD web trader platform that does require an ECN account.
Demo accounts are available to test the different trading platforms and conditions before opening a real account. Islamic swap-free accounts that comply with Sharia law are also available upon request. You can apply for an individual, corporate or professional trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this FXDD review. It is imperative to ensure that you check and understand all of the latest information before you open a FXDD broker account for online trading.
FXDD Review: Customer Service
FXDD customer service team have years of experience and are on hand to assist you with any questions or concerns that you may have. They can be reached via online chat, email and phone.
FXDD Review: Deposit & Withdrawal
FXDD have a few convenient deposit and withdrawal methods. Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. FXDD so not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account.
Accounts can be opened in USD, EUR, GBP, JPY, CHF, BTC. The different account currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
FXDD Review: Account Opening
Opening an account with FXDD is a quick and easy process. You need to register for the customer portal and can then apply to open a trading account. FXDD will require some form of identification such as a passport or drivers license and proof of address such as a recent utility bill. This is a normal part of the KYC procedure and once your documents have been verified by the accounts team you will be able to fund your account and commence trading.
FXDD Review: Conclusion
FXDD are regulated and provide traders access to a reasonable selection of multi-asset trading instruments. They have simple yet powerful trading platforms including the ever popular MetaTrader platform and their very own proprietary web platform. There are trading accounts with and without commission, the ECN account having the lower spread overall. Clients receive a good selection of daily market analysis and trading tools along with some useful educational materials.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.