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FXDD Forex Broker Review 2012 - Ratings, Likes, Dislikes, Comparison, Demo, Open Account

Review and ratings of FXDD Malta Ltd. Forex broker is available on this page. Compare it with other online Forex brokers or share your experience.

2.5 1
FXDD Ratings
Commissions & Fees:
Trading Technology:
Research & Analysis:
Investments Offered:
Education:
Customer Service:
 
Overall Rating:
 

Last review date: 2/15/2012

Recommended For...
Retail Clients:
Active Private Traders:
Institutional Clients:

Recommendation is based purely on our own opinion, but we try to be objective as possible!

Basic Features
Commission Type:
Spr./Comm.
Forex Trades Fee:
22.00 USD

Displayed 'Forex Trade Fee' is spread based. Commission for Forex trades is an estimation of fees charged per round turn of $100,000 major pair units. The cost of no-commission brokers is calculated as average spread markup on majors.

Execution Type:
DD/ECN

DD - Dealing Desk, STP(MM) - Straight Through Processing/Instant Execution, STP(DMA) - Straight Through Processing/Direct Market Access, ECN - Electronic Clearing Network

Minimum Deposit:
250 USD
Minimal Contract Size:
1,000
Maximal Leverage:
1:200
Account Base Currencies:

USD

FXDD offers commission based platforms for institutional quality accounts only.

Typical Spreads (Majors)
Spread Type:
Fix./Var.
EUR/USD:
2.1
GBP/USD:
3.8
USD/JPY:
1.9
USD/CHF:
4.1
AUD/USD:
4.1
USD/CAD:
3.4

Spreads in pips as reported by MT4i.com.

Account Features
Islamic (Swap-Free) Acc.:
Managed Accounts:
Segragated Accounts:
Virtual Trading:
Demo Account Duration:

90 days

 
Account Opening:
U.S. Citizens Allowed:
Account Opening Type:
Online
Time To Open Account:
15 minutes
Paper-Work Required:
Notarization Required:
Documents Delivery:

Fax/Mail

Non-U.S. accounts are held with FXDD Malta, while U.S. accounts are held with FXDD New York. You have to sign and return signature page of Customer Agreement Form by fax or mail. Non-US customers must provide additionaly 2 forms of identification and W-8BEN form.

Deposits/Withdrawals
Deposit Currencies:

USD

Withdrawal Fee:
0.00 USD
 
Deposit/Withdrawal Methods:
Wire Transfer:
Credit/Debit Cards:
PayPal:
Moneybookers:
Neteller:
Check:
ACH:

Money withdrawal can only be requested by filling out and faxing the Funds Redemption Form.

Bonuses
Prize Contest:

1st Deposit Bonus:

FXDD runs time limited promotions, so you need to check their website for latest promotions info.

Refer a Friend Bonus:
Trading Technology
WEB App:
Desktop App:
Mobile App:
Automated Trading App:
API Programming:
 
Software/Platforms:
MetaTrader4 (MT4):
VikingTrader (Currenex):
PowerTrader (Currenex):
MirrorTrader (Tradency):
ZuluTrader:
Tradable Instruments/Underlyings
Forex:
Stocks:
Options:
Futures:
CFDs:
Spread Betting:
 
Underlyings:
Currencies:
Oil & Gas:
Precious Metals:
Commodities:
Indices:
Stocks:
Bonds:
 
No. of Currency Pairs:
22

FXDD offers trading with Gold/USD and Silver/USD next to most common currency pairs.

Order Types
Market:
Limit:
Stop:
Market If Touched (MIT):
Trailing (Server Side):
Trailing (Client Side):
One-Cancels-Other (OCO):
If-Then (Conditional):
Bid/Offer (Inside Spread):

Types of available orders depends on platform selection.

Trading Features
Hedging Capability:
Scalping Allowed:
One-Click Orders:
Chart Trading:
Guaranteed Stop-Losses:
Fractional Pips:
Tools & Research
Charting Package:
Free Data Feed:
News Feed:
Market Alerts:
Calendars:
Analysis:
Trading Strategies:
AutoChartist:
Online Community:
Investment Education:
Customer Service & Support
Phone Support:
Email Support:
Live Chat Support:
Skype Support:
Call-Back Support:
Phone Dealing:
24/7 Support:

Email support is provided via web form.

Contact Info
FXDD Malta Ltd., K2, First Floor, Forni Complex, Valletta Waterfront, Floriana, FRN 1913, Malta
 
 
International Phone: (+356) 2013-3933
Dealing Phone: (+356) 2013-3939
 

Stocks-For-Beginners.com is FXDD's affiliate and is being compensated for every new opened client's account.

FXDD Forex Broker Review

FXDD is a leading online retail Forex broker, very strong in delivering good education to Forex newbie's; they have done a big step towards institutional clients in recent years as well.

Very Positive - Great educational resources section within their website.

Could do Better - Investments offered are limited to Forex and only to most liquid currency pairs.

Introduction

FXDD is a Forex brokerage firm which offers foreign exchange trading opportunities to numerous individual training portfolios and their clients. Trading in Forex markets is considered to be a highly risky investment because of the high level of leverage involved, which can work well for you or against you. This company offers various types of FXDD products but irrespective of the products that you choose to trade in, you should base your decision on three yardsticks namely your risk appetite, level of experience in Forex trading and investment objectives. The trading platforms offered by FXDD not only feature secure applications but are also flexible and versatile.

Forex traders who sign up with FXDD get the privilege of having real-time access to trading prices that are live in nature. The company provides its clients with constant liquidity and the comfort of being consistent by allowing them trading flexibility 24x7. Trading through FXDD enables the traders' complete accessibility as also use of full charting packages comprising of tic charts, minute, hourly, daily and even weekly charts.

Investments Offered and Basic Conditions

FXDD has a business model which seeks to avail market maker prices to its clients. With the business model, clients are free to take risks and facilitate their trades at prices which they like simultaneously. This kind of business model can be used by individuals, investment managers as well as brokers.

For individuals this is convenient because the business model provides them with transparent pricing, thus allowing them to maximize their trading profits. For investment managers, the business model allows them to get the most favorable pricing for their trading and also enables them to gain optimally from their clients. As far as brokers are concerned, the company shares the same business model and clients with them in a bid to maximize their returns.

Of course, prior to engaging in trading investments as offered by FXDD one must agree to the basic terms and conditions. One of the basic conditions in this regard is that the Forex trader must accept the fact that FXDD does not warrant for the accuracy, timeliness and completeness of the information mentioned on the website even though it is believed to be trustworthy. Also, since Forex trading does involve some amount of risks therefore discretion is advised before one attempts to open an account with FXDD. Also, one must agree not to engage in any illegal or unlawful activities and practices while trading on FXDD or its website.

Types of Accounts

There are mainly three types of live trading accounts offered by FXDD to its traders but apart from these, one can also open a free demo account. Requesting for a free demo account would enable you to use a Forex trading software application free of cost for ninety days. However prior to being granted a free demo account one must fill up a form consisting of contact details and also a small document containing terms and conditions of trading which the account holder must agree to.

The three types of accounts offered by FXDD are Individual or Joint Account, Corporate Account and Trust Account. Individual account or joint account should be opened by those individuals who want their accounts to have only one or more than one owner. This type of account is best for the general public.

When it comes to opening a corporate account, any individual who is under 18 years old or over 65 years old, whose income is less than USD 25,000 per year, who does not have even six months of trading experience in securities or futures would automatically be considered for a FXDD Malta trading account instead.

In order to open a Forex Trust account with FXDD, the account holder or holders can choose between corporate application type and individual/joint application type.

Opening an Account

Irrespective of the type of account being opened, the account holder must go through a four-step process. The first step is to complete the application by applying online or applying by mail or fax. The application process is very simple - one simply has to provide the contact details, choose a currency to trade in and create a login name in order to open a new account. The second step entails the submission of identification proofs and is followed by the third step which entails reading and signing the 32-page customer agreement. Last but not the least the aspiring trader is asked to fund the account.

Software

As far as the trading software is concerned, FXDD offers five different kinds of trading systems to its customers. Amongst these five, one is a fully automated trading system, the second is an institutional trading system and the remaining three are meant for the retail section. Platform comparison of all types of software programs can be accessed from the website in order to help the trader reach a decision.

Some of the Forex Trading Software packages available on the FXDD website are MetaTrader 4, MTXtreme, Swordfish, Mirror Trader, Power Trader, VikingTrader, FXDD trader and Zulu Trader. The demo versions of all these trading software can be availed from FXDD website.

Trading Tools and Research

FXDD understands the fact that tools form a mandatory part of every trader's arsenal and therefore it offers a variety of trading tools to its customers so that they can utilize them in order to trade profitably. Irrespective of whether you are trading in the Forex markets or learning how to trade, the trading tools and utilities provided by the website would be of assistance.

All in all, the website offers six different types of trading tools, namely Forex News & Commentary, Economic calendar, FXDD Autochartist, Rollover Rates, Forex calculators and Live currency quotes. These tools can be used for research purposes as well.

Education

The ultimate goal of FXDD is to educate all its customers in all the aspects pertaining to global market activities and towards the achievement of this the firm strives hard to ensure that all its customers are successful at Forex trading. There is a 'New to Forex' section where complete newbies can learn the basics of this kind of training. Forex tutorials are also provided in order to help people learn the essentials at their own pace.

Provision of a Financial Glossary is meant to help the customers understand all the terms related to Forex Trading while the FAQ (Frequently Asked Questions) section is great for picking up pointers. FXDD also offer live training courses as well as FX tradeshows that takes place around the world. The schedule for the latter can be obtained on the website.

Awards

Since FXDD is a global Forex trading company therefore a lot of its branches around the world have received awards. At the 2011 Jordan Forex Expo, FXDD Europe won two awards namely 'Best Arabic Platform in Middle East and North Africa' and 'Best Forex Broker in Middle East and North Africa'. At the 1st Saudi Money Expo and Conference 2011, FXDD Europe won the 'Best Trading Platform 2011' award. In the year 2010 FXDD won 6 Trader's Choice Awards that FX Trader's Choice Awards including the 'Best Overall Forex Trader' Account.

Promotions, Challenges and Bonuses

To keep things lively, FXDD offers bonuses from time to time. During the month of February 2012, the firm offered to award 3% bonus on any deposit whose value is equivalent to USD 5000 or less than that to customers who deposited new funds into their accounts between 1st February and 17th February. The maximum bonus that could be earned from this bonus scheme was USD 5000. There are various other promotions and challenges as well which are offered from time to time and the latest update on them can be accessed from the 'Promo' section of the FXDD website.

What Makes FXDD Different?

FXDD was created by a global brokerage operation and therefore customers would have peace of mind when they are associating themselves with a reputed and established firm like this one. Moreover, if you were to visit the FXDD website then you will notice that details to attention have been given and that the firm does really care about its customers as is apparent from the umpteen resources, guides, tools, free demos and so on available there. Besides the number of awards won by this firm is a clear encouragement for people to choose this company for Forex trading.

Customer Support

The customer support or customer care aspect of FXDD comprises of a self-help section that provides FAQs. In addition to this, the website features a Live Chat option where people can contact the staff easily and get their doubts cleared or questions answered. The contact number and email address are also mentioned should one want to make a call or send an email to FXDD.

 

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