FXDD Review 2024

Quick Links

• Our Review Method

• FXDD Pros and Cons

• Is FXDD safe or a scam?

• FXDD Review Summary in 12 Points

• Overall FXDD Ranking

• Leverage

• Account Types

• FXDD Instruments

• FXDD Fees

• Rollover Fees

• Spreads

• Deposits and Withdrawals

• Trading Platform

• Conclusion

Our Review Method ▲

FXDD is a financial services firm rooted in Malta, offering a wide spectrum of investment opportunities to a diverse clientele that includes retail, corporate, and institutional investors. The broker leverages ECN technology to provide clients with narrow spreads and zero commissions, while raw spreads and quotes are directly sourced from liquidity providers at ultra-low latency.

FXDD Pros and Cons ▲

FXDD stands out as a regulated broker offering low-risk trading and a broad selection of platforms, complemented by a wide range of research tools and instruments, including cryptocurrencies. The pricing model is either based on spread or commission.

Pros

• Regulated broker ensuring lowrisk trading

• Broad selection of platforms

• Extensive range of research tools and instruments

Cons

• Basic level educational resources

• Higher Standard account spreads

• Limited market range to FX and CFDs

Is FXDD safe or a scam? ▲

FXDD is far from being a scam; it is a regulated broker that offers low-risk trading. The broker is overseen by the Malta Financial Services Authority, ensuring a high level of safety and reliability for its clients.

FXDD Review Summary in 12 Points ▲

• Headquarters: Malta

• Regulation: MFSA, FSC

• Instruments: Stocks, Commodities, Indices, Cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Ripple

• Platforms: MT4, MT5, FXDD WebTrader

• EUR/USD Spread: 1.9 pips

• Demo Account: Available

• Base currencies: EUR, USD

• Minimum deposit: 100 USD

• Education: Educational support and materials, daily insights into global markets

• Customer Support: Available 24/5

Overall FXDD Ranking ▲

Based on extensive research conducted by our financial experts, who compared FXDD against over 1000 brokers, we have concluded that FXDD is a trustworthy broker with a solid reputation and competitive conditions for Forex and CFD trading. The broker's global coverage and ultra-low spreads starting from 0.0 pips are notable. However, the absence of comprehensive educational resources makes it a less attractive option for novice traders. FXDD's overall ranking stands at 8.2 out of 5, positioning it favorably against other leading brokers in the industry.

Is FXDD safe or scam?

FXDD is a legitimate, regulated broker offering low-risk trading environments. It is regulated by the Malta Financial Services Authority, ensuring compliance and safety for client assets. Additionally, FXDD Malta Limited, as part of the EU company, adheres to financial service company laws and holds an Investment Service Category 3 License, regulated by the Malta Financial Services Authority. With European regulation, FXDD is enabled to provide services within the EEA zone and is registered with partner EU authorities, governed by MiFID. Moreover, FXDD has an additional entity registered in offshore Mauritius, which, combined with European legislation, makes FXDD a reliable partner. The registration with top-tier authorities ensures a high level of compliance and safety management for client assets. Our ranked FXDD Trust Score is 8.4 out of 5, reflecting its good reputation and years of reliable service. The broker offers a compensation scheme in case of fund loss, although conditions may vary across jurisdictions.

Leverage ▲

Leverage is a potent tool offered by the majority of Forex brokers, including FXCC, that allows traders to multiply their initial account balance, thereby amplifying the potential for gains. However, it’s crucial to use leverage judiciously as it not only magnifies profits but also losses. The leverage levels provided by FXDD vary depending on the traded instrument and are determined by regulatory restrictions alongside the trader's level of experience. For most traders, leverage is available up to a level of 1:30, while professional traders might be eligible for higher leverage, reaching up to 1:100.

Account Types ▲

FXDD has tailored two distinct account types to accommodate different pricing models, offering both Standard and ECN accounts accessible through the MT4 and MT5 platforms. Additionally, FXDD provides immediate access to Demo accounts for both types, allowing new clients to familiarize themselves with the platform. Once clients are confident in their trading expertise, transitioning to a live account is straightforward and swift.

FXDD Instruments ▲

The mission of the company, from its inception to the present, has been to ease investors' entry into global markets through a diverse range of trading instruments. These include over 600,000 financial assets like Forex, indices, stocks, metals, and energies. The Windsor Markets Range Score rates the selection of trading instruments at 8.7 out of 5, highlighting the comprehensive selection available. However, it's important to note that the broker primarily offers CFDs and Forex Instruments, and the availability of specific assets is contingent upon the entity with which you are registered.

FXDD Fees ▲

The Standard account at FXDD offers competitive low spreads without any commissions, ensuring that the company's high standards of execution and service delivery are maintained. The ECN Account’s fees are structured around the commission and traded volumes. Overall, the fees, including funding fees, spread, and commissions, are quite favorable. Based on our comprehensive analysis of over 1000 brokers, FXDD's fees are ranked favorably with a score of 4.2 out of 5. It's worth noting that fees may vary depending on the entity offering the service, but overall, FXDD's fee structure is considered advantageous.

Rollover Fees ▲

Rollover or overnight fees are another cost consideration for traders, charged on positions that are held open for longer than a day. These fees are specified for each instrument and can significantly impact the overall cost of trading. FXDD’s platform provides examples of these fees and regularly updates them to reflect the most current rates. Overall, when assessing rollover fees in conjunction with other trading costs, FXDD maintains a competitive position with a low fees rating.

Spreads ▲

FXDD offers varying spreads depending on the account type selected. For a glimpse into what traders might expect, standard spreads for popular instruments are provided, although they tend to be higher than average for forex instruments. Opting for an ECN account affords traders direct access to raw spreads without any markup, incurring only a commission cost per trade. This commission stands at approximately $0.0299 per 1,000 traded for major currencies, with other instruments attracting slightly higher charges - around $0.0499. When comparing FXDD's spread with that of other brokers, such as FBS, FXDD's spreads appear less competitive. Based on our comprehensive analysis and comparison with over 1000 brokers, FXDD's spreads have been rated 3.5 out of 5.

Deposits and Withdrawals ▲

FXDD presents a broad array of secure and convenient methods for depositing and withdrawing funds. All transactions are facilitated through the customer portal, with options encompassing Credit/Debit Cards via SafeCharge, UnionPay, Neteller, Skrill, and Wire Bank transfers. We have evaluated FXDD's funding methods as excellent, assigning an overall rating of 4.0 out of 5. The minimum deposit requirement is relatively standard within the industry, and fees are minimal or non-existent, which also supports the use of various account-based currencies. However, the availability of deposit options might differ across different entities.

Pros

• Wide range of payment options

• Low or no transaction fees

Cons

• Deposit options may vary by entity

The minimum deposit for FXDD is set at $100 for all account types, facilitating the transition from a demo to a live trading account. It's important to note, however, that trading specific instruments may require higher margins. Compared to many other brokers, which often have a minimum deposit requirement of $500, FXDD's threshold is more accessible.

When it comes to withdrawals, FXDD distinguishes itself by not imposing any fees for deposits, and allows for withdrawals at any convenient time. The broker covers the costs for the first withdrawal each calendar month, with subsequent withdrawals potentially incurring a $40 transaction fee. The set minimum withdrawal amount is $100.

Trading Platform ▲

FXDD's trading platform offerings cater to both manual and automated traders globally, with both the MetaTrader4 and MetaTrader5 platforms available for Standard or ECN accounts. These platforms are designed for compatibility with Windows, Mac, Web, iOS, and Android devices, earning FXDD a platform rating of 4.1 out of 5. The inclusion of industry-leading platforms like MT4 and MT5, enhanced with broker-specific optimizations, positions FXDD favorably in comparison to its peers. Additionally, FXDD offers a VPS service to enhance MT4 functionality, aiding in the efficiency of running multiple strategies continuously with reduced latency. This service is complimentary for those maintaining a minimum deposit of $2,500 and trading at least 5 standard lots per month; otherwise, a fee applies depending on the chosen VPS package level.

FXDD also offers a proprietary web-based trading platform, designed specifically for experienced traders. This platform features robust charting capabilities and exclusively offers ECN pricing.

FXDD Support

FXDD places a strong emphasis on customer support, offering educational materials and market analysis to guide traders towards informed decision-making. The broker's team of in-house experts provides daily insights into global markets, while the customer support team is praised for their responsiveness and expertise. We have rated FXDD's customer support as excellent, with a score of 4.5 out of 5, based on our testing and comparisons with other brokers.

Conclusion ▲

This comprehensive review of FXDD highlights the broker's commitment to providing a diverse range of account types, trading styles, tools, and features. The exceptional level of customer support, coupled with the highest operational standards, positions FXDD as a commendable choice for traders globally. Whether the focus is on regular trading, currency and CFD trading, crypto CFD trading, or employing a variety of trading strategies, FXDD's offerings cater to a wide array of trading preferences. The inclusion of STP technology further ensures a conflict-free trading environment, underscoring FXDD's suitability for traders seeking to optimize their investment potential.