FXDD
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Pros and Cons
- Wide range of trading assets
- Low average cost for EUR/USD
- Multiple payment methods accepted
- Supports MT4 and MT5 platforms
- No deposit and withdrawal fees
- Minimum deposit is relatively high
- Spreads are average
- Limited regulatory coverage
- No support for ZuluTrade
- Customer support can be slow at times
Introduction
In the dynamic world of online trading, the choice of a broker can significantly impact a trader’s success.
FXDD, established in 2002, has become a prominent name in the trading industry, offering a wide range of services designed to meet the diverse needs of traders.
This comprehensive review delves into its offerings, covering its regulatory status, trading platforms, account types, fees, customer support, educational resources, and more.
By the end of this review, readers will have a thorough understanding of what FXDD offers and whether it suits their trading needs.
Create a Free AccountCompany Overview
Background and History
FXDD, short for Forex Dealer Direct, was founded in 2002 with the goal of providing advanced trading technology and excellent customer service to traders globally.
The broker is headquartered in New York, USA, and operates under the regulation of multiple financial authorities, ensuring compliance with industry standards.
Over the years, it has expanded its reach and built a solid reputation for reliability and innovation in the trading world.
Regulatory Status
Regulation is a crucial factor when selecting a broker, as it ensures the broker adheres to strict financial standards and provides a level of protection for traders.
The company is regulated by the Malta Financial Services Authority (MFSA) and the Financial Conduct Authority (FCA) in the UK.
These regulatory bodies are known for their stringent oversight, which adds a layer of security and trust for traders using FXDD.
| Regulatory Body | License Number |
|---|---|
| MFSA | IS/48817 |
| FCA | 528512 |
These regulations require them to follow strict rules regarding client fund segregation, financial reporting, and operational transparency, ensuring a secure trading environment.
Trading Platforms
FXDD offers several trading platforms to cater to the needs of different types of traders.
The platforms provided are known for their robustness, user-friendliness, and advanced trading features.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms globally, renowned for its user-friendly interface, advanced charting tools, and extensive range of technical indicators.
The broker offers MT4 for both desktop and mobile devices, allowing traders to access their accounts and trade on the go.
MetaTrader 5 (MT5)
Building on the success of MT4, MT5 offers additional features such as more timeframes, advanced order types, and an economic calendar.
MT5 is ideal for traders looking for a more comprehensive trading experience.
Web Trader
Web Trader platform allows traders to access their accounts from any web browser without the need for software installation.
This platform is particularly useful for traders who need flexibility and the ability to trade from different locations.
Trading Instruments
FXDD provides a wide range of trading instruments, allowing traders to diversify their portfolios and take advantage of various market opportunities.
Forex
Forex trading is the core offering, with over 60 currency pairs available for trading.
The broker offers competitive spreads and high leverage, making it an attractive option for forex traders.
Indices
Trading indices allows traders to speculate on the performance of a basket of stocks rather than individual companies, including major indices like the S&P 500, NASDAQ, and FTSE 100.
Commodities
Traders can also trade commodities such as gold, silver, crude oil, and natural gas.
Commodities are a popular choice for traders looking to diversify their portfolios and hedge against inflation.
FXDD provides access to a wide range of shares from various global markets.
This allows traders to invest in individual companies and take advantage of market movements.
Cryptocurrencies
With the growing popularity of cryptocurrencies, it offers trading on major cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
This enables traders to speculate on the price movements of these digital assets.
Account Types
FXDD offers several account types to cater to the needs of different traders, from beginners to professionals.
Each account type comes with its set of features and benefits.
Standard Account
The Standard Account is designed for retail traders and offers a range of features including competitive spreads, leverage up to 1:500, and access to all trading instruments.
The minimum deposit for this account is $250.
ECN Account
The ECN (Electronic Communication Network) Account is suitable for more advanced traders who require direct market access and tighter spreads.
This account type offers raw spreads starting from 0.1 pips and a commission-based pricing structure.
The minimum deposit for an ECN account is $2,000.
VIP Account
The VIP Account is tailored for high-net-worth individuals and institutional clients.
It offers personalized services, including dedicated account managers, tighter spreads, and priority customer support.
The minimum deposit for a VIP account is $20,000.
Demo Account
The broker also provides a demo account for new traders to practice trading without risking real money.
The demo account simulates live market conditions and allows traders to familiarize themselves with the trading platforms and develop their trading strategies.
Account Comparison Table
| Feature | Standard Account | ECN Account | VIP Account | Demo Account |
|---|---|---|---|---|
| Minimum Deposit | $250 | $2,000 | $20,000 | None |
| Spreads | Average | Tight (from 0.1 pips) | Personalized | Simulated |
| Commissions | None | $3.50 per lot per side | Personalized | |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 | N/A |
| Key Features | Retail traders | Direct market access, tighter spreads | Personalized services, priority support | Practice trading, no risk |
Fees and Commissions
Understanding the fee structure of a broker is essential for traders to manage their trading costs effectively.
Its fee structure is transparent and competitive.
Spreads
FXDD offers variable spreads that vary depending on the account type and market conditions.
For the Standard Account, spreads are typically average, while the ECN Account offers much tighter spreads starting from 0.1 pips.
Commissions
For the Standard Account, it does not charge any commissions on trades, as the costs are built into the spreads.
However, the ECN Account has a commission-based structure, with a fee of $3.50 per lot per side.
Swap Fees
FXDD charges swap fees for holding positions overnight.
The swap rates are based on the interest rate difference between the two currencies involved in the trade.
These fees can either be positive or negative, depending on the direction of the trade and the prevailing interest rates.
Deposit and Withdrawal Fees
This broker does not charge any fees for deposits or withdrawals.
However, traders should be aware that their payment provider may charge a fee for these transactions.
Inactivity Fees
The company charges an inactivity fee of $30 per month for accounts that have been inactive for more than 90 days.
This fee is deducted from the account balance.
Detailed Fee Structure Table
| Fee Type | Standard Account | ECN Account | VIP Account |
|---|---|---|---|
| Spreads | Average | Tight (from 0.1 pips) | Personalized |
| Commissions | None | $3.50 per lot per side | Personalized |
| Swap Fees | Yes | Yes | Yes |
| Deposit Fees | None | None | None |
| Withdrawal Fees | None | None | None |
| Inactivity Fees | $30/month | $30/month | $30/month |
Customer Support
Customer support is a vital aspect of a broker’s services, as traders need timely and effective assistance with their trading-related issues.
FXDD offers multiple channels for customer support, ensuring that traders can get help whenever they need it.
Contact Methods
The company provides several methods for contacting customer support, including email, phone, and live chat.
The customer support team is available 24/5, aligning with the forex market’s trading hours.
Email Support
Traders can reach out to their support team via email at support@fxdd.com.
Email support is ideal for non-urgent inquiries and allows traders to document their issues and receive detailed responses.
Phone Support
For more time-sensitive matters, traders can contact their support team via phone at +1 212 720 7200.
Phone support is available during trading hours and provides immediate assistance for pressing issues.
Live Chat
The live chat feature allows traders to get instant support from a customer service representative.
This feature is particularly useful for quick questions and troubleshooting.
Quality of Support
The quality of the customer support is generally well-regarded, with traders appreciating the responsiveness and professionalism of the support team.
However, there have been occasional reports of slow response times during peak trading hours.
Customer Support Experience Table
| Support Channel | Availability | Response Time | Suitability |
|---|---|---|---|
| 24/5 | Within 24 hours | Non-urgent inquiries | |
| Phone | 24/5 | Immediate | Urgent issues |
| Live Chat | 24/5 | Instant | Quick questions, troubleshooting |
Educational Resources
FXDD offers plenty of educational resources to help traders improve their knowledge and skills.
These resources are designed to cater to traders of all experience levels.
Webinars
It also regularly hosts webinars covering a range of topics, from basic trading concepts to advanced strategies.
These webinars are conducted by experienced traders and market analysts, providing valuable insights and real-time market analysis.
Video Tutorials
The broker’s website features a collection of video tutorials that guide traders through the various aspects of trading, including platform navigation, technical analysis, and risk management.
These videos are particularly helpful for beginners who are new to trading.
Trading Guides
FXDD provides a series of comprehensive trading guides that cover essential topics such as forex trading basics, technical and fundamental analysis, and trading strategies.
These guides are available for free on the broker’s website and are a valuable resource for traders looking to deepen their understanding of the markets.
Market Analysis
The broker offers daily market analysis and reports, providing traders with up-to-date information on market trends, economic events, and trading opportunities.
This analysis is conducted by their market experts and is available on the broker’s website and through email newsletters.
Educational Resources Overview Table
| Resource Type | Content Focus | Availability |
|---|---|---|
| Webinars | Trading concepts, strategies | Regularly scheduled |
| Video Tutorials | Platform navigation, analysis | Available for free on the website |
| Trading Guides | Forex basics, strategies | Available for free on website |
| Market Analysis | Trends, economic events | Daily updates on website, newsletters |
Trading Conditions
FXDD strives to provide favorable trading conditions for its clients, ensuring a seamless and efficient trading experience.
Leverage
FXDD offers leverage up to 1:500, allowing traders to control larger positions with a smaller amount of capital.
While high leverage can amplify profits, it also increases the risk of losses, so traders should use leverage cautiously.
Execution
The broker provides fast and reliable trade execution, ensuring that traders can enter and exit positions quickly and at the desired price.
The broker uses advanced technology and liquidity providers to deliver competitive execution speeds.
Order Types
FXDD supports many order types, including market orders, limit orders, stop orders, and trailing stops.
These order types allow traders to implement diverse trading strategies and manage their positions effectively.
Trading Hours
The trading hours align with the global forex market, which operates 24 hours a day, five days a week.
This allows traders to take advantage of market opportunities at any time, regardless of their time zone.
Trading Conditions Table
| Trading Condition | Details |
|---|---|
| Leverage | Up to 1:500 |
| Execution | Fast and reliable |
| Order Types | Market, limit, stop, trailing stops |
| Trading Hours | 24/5 |
Security and Safety
Security is a top priority, and the broker employs various measures to protect its clients’ funds and personal information.
Segregated Accounts
The company maintains segregated accounts for client funds, ensuring that these funds are kept separate from the broker’s operational funds.
This provides an additional layer of protection for traders’ money.
SSL Encryption
The broker’s website uses SSL (Secure Socket Layer) encryption to protect clients’ personal and financial information.
SSL encryption ensures that data transmitted between the client and the broker are secure and cannot be accessed by unauthorized parties.
Investor Compensation Scheme
As a regulated broker, it participates in the Investor Compensation Scheme (ICS), which provides protection for clients if the broker becomes insolvent.
The ICS covers eligible clients up to a certain amount, providing peace of mind for traders.
Security Measures Table
| Security Measure | Description |
|---|---|
| Segregated Accounts | Client funds kept separate from operational funds |
| SSL Encryption | Protects personal and financial information |
| Investor Compensation Scheme | Provides protection in case of broker insolvency |
Trading Tools and Features
FXDD provides many trading tools and features to enhance the trading experience and help traders make informed decisions.
Technical Analysis Tools
Its trading platforms come equipped with a wide range of technical analysis tools, including indicators, charting tools, and drawing tools.
These tools enable traders to analyze price movements and identify trading opportunities.
Automated Trading
It supports automated trading through Expert Advisors (EA) on the MT4 and MT5 platforms.
Traders can create and deploy automated trading strategies to execute trades based on predefined criteria.
VPS Hosting
For traders who rely on automated trading systems, it offers Virtual Private Server (VPS) hosting.
VPS hosting ensures that trading systems can run continuously with minimal latency, even when the trader’s computer is turned off.
Economic Calendar
Their economic calendar provides information on upcoming economic events and announcements that could impact the markets.
Traders can use this tool to stay informed about key events and plan their trades accordingly.
Trading Signals
FXDD provides trading signals to help traders identify potential trading opportunities.
These signals are generated based on technical and fundamental analysis and can be a valuable resource for traders looking to enhance their trading strategies.
Trading Tools and Features Table
| Feature | Description |
|---|---|
| Technical Analysis Tools | Indicators, charting tools, drawing tools |
| Automated Trading | Supports EAs on MT4 and MT5 |
| VPS Hosting | Ensures continuous trading system operation |
| Economic Calendar | Information on upcoming economic events |
| Trading Signals | Identifies potential trading opportunities |
Deposit and Withdrawal Methods
FXDD offers various deposit and withdrawal methods to provide flexibility and convenience for its clients.
Deposit Methods
FXDD supports multiple deposit methods, including bank transfers, credit/debit cards, and e-wallets such as PayPal, Skrill, and Neteller.
Deposits are typically processed quickly, allowing traders to fund their accounts and start trading without delay.
Withdrawal Methods
Withdrawals can be made using the same methods as deposits, providing convenience for traders.
FXDD aims to process withdrawal requests promptly, although the time taken for funds to reach the trader’s account may vary depending on the payment method used.
Deposit and Withdrawal Methods Table
| Method | Availability | Processing Time |
|---|---|---|
| Bank Transfer | Yes | 1-3 business days |
| Credit/Debit Cards | Yes | Instant |
| PayPal | Yes | Instant |
| Skrill | Yes | Instant |
| Neteller | Yes | Instant |
Account Opening Process
Opening an account is a straightforward process that can be completed online.
The broker aims to make the account opening process as seamless as possible for new clients.
Step-by-Step Guide to Opening an Account
- Visit the Website: Go to their website and click on the “Open Account” button.
- Fill Out the Registration Form: Provide the required personal information, including your name, email address, phone number, and country of residence.
- Choose Account Type: Select the type of account you wish to open (Standard, ECN, VIP, or Demo).
- Submit Identification Documents: Upload the necessary identification documents to verify your identity. This typically includes a government-issued ID and proof of address.
- Fund Your Account: Once your account is verified, you can fund it using one of the available deposit methods.
- Start Trading: After funding your account, you can start trading.
Account Opening Requirements
To open an account, you must meet the following requirements:
- Be at least 18 years old.
- Provide a valid government-issued ID (e.g., passport, driver’s license).
- Provide proof of address (e.g., utility bill, bank statement).
Account Opening Process Table
| Step | Description |
|---|---|
| Visit FXDD Website | Go to their website and click “Open Account” |
| Fill Out Registration | Provide personal information |
| Choose Account Type | Select Standard, ECN, VIP, or Demo |
| Submit ID Documents | Upload government-issued ID and proof of address |
| Fund Your Account | Deposit funds using available methods |
| Start Trading | Begin trading |
Trading Experience
The overall trading experience is shaped by the broker’s platform performance, range of trading instruments, and the quality of customer support.
Platform Performance
FXDD’s trading platforms, including MT4, MT5, and WebTrader, are known for their stability and reliability.
The platforms offer fast execution speeds, advanced charting tools, and a wide range of technical indicators, making them suitable for both novice and experienced traders.
Range of Trading Instruments
With a diverse range of trading instruments, including forex, indices, commodities, shares, and cryptocurrencies, FXDD provides ample opportunities for traders to diversify their portfolios and take advantage of different market conditions.
Customer Support Quality
While its customer support is generally responsive and professional, there have been occasional reports of slow response times during peak trading hours.
Overall, the support team is well-regarded for its helpfulness and expertise.
User Interface and Experience
Their user interface of trading platforms is intuitive and easy to navigate.
Traders can customize their trading environments to suit their preferences, making it easier to manage trades and analyze market data.
Trading Experience Table
| Aspect | Details |
|---|---|
| Platform Performance | Stable, reliable, fast execution |
| Trading Instruments | Forex, indices, commodities, shares, cryptos |
| Customer Support | Responsive, professional, occasional delays |
| User Interface | Intuitive, customizable |
Reputation and Customer Reviews
Customer reviews and feedback provide valuable insights into a broker’s performance and reputation.
FXDD generally receives positive reviews from traders, although there are areas where improvements could be made.
Positive Feedback
Many traders praise FXDD for its reliable trading platforms, competitive spreads, and diverse range of trading instruments.
The broker’s educational resources and market analysis are also well-regarded, helping traders expand their skills and make informed decisions.
Areas for Improvement
Some traders have reported issues with slow customer support response times, particularly during peak trading hours.
Additionally, while it offers a wide range of trading instruments, some traders would like to see more options for advanced trading features and tools.
Additional Features and Services
In addition to its core offerings, the broker provides several additional features and services to enhance the trading experience.
Trading Contests
FXDD occasionally hosts trading contests where traders can compete for prizes.
These contests are a fun and engaging way for traders to test their skills and compete against others in the trading community.
Social Trading
FXDD offers social trading features that allow traders to follow and copy the trades of experienced traders.
This feature is particularly useful for novice traders who can learn from the strategies and decisions of more experienced traders.
Research and Analysis Tools
The broker also provides various research and analysis tools to help traders make informed decisions.
These tools include market news, economic calendars, and technical analysis reports.
Mobile Trading
Its mobile trading platforms allow traders to access their accounts and trade from their mobile devices.
The mobile apps are available for both iOS and Android devices and offer many of the same features as the desktop platforms.
Additional Features Table
| Feature | Description |
|---|---|
| Trading Contests | Compete for prizes, test trading skills |
| Social Trading | Follow and copy experienced traders |
| Research Tools | Market news, economic calendars, technical analysis |
| Mobile Trading | Trade from iOS and Android devices |
Conclusion
FXDD is a well-established and reputable broker that offers a comprehensive range of trading services and products.
With a strong regulatory framework, advanced trading platforms, diverse account types, and a commitment to customer support and education, it is a suitable choice for traders of all experience levels.
While there are some areas for improvement, such as the speed of customer support responses, the overall trading experience is positive.
Whether you are a novice trader looking to learn the ropes or an experienced trader seeking advanced trading features, FXDD provides the tools and resources needed to succeed in the dynamic world of online trading.
Visit official website: www.fxdd.comFAQ
What is the minimum deposit required?
The minimum deposit required to open an account is $250.
Does FXDD charge deposit or withdrawal fees?
No, it does not charge any deposit or withdrawal fees.
Is FXDD regulated?
Yes, the company is regulated by the MFSA and FCA.
What trading platforms are available?
FXDD supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Can I open a demo account?
Yes, it offers a demo account for new users to practice trading.
Does it offer negative balance protection?
Yes, FXDD offers negative balance protection to its clients.
What are the payment methods accepted?
FXDD accepts Bank Transfer, Credit/Debit Cards, PayPal, Skrill, and Neteller.
Resources
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Article written, edited and reviewed by
Last updated: September 19, 2025
