The Local Financial Services Authority of Malta also fined FXDD Malta €25,000. I’m waiting to get all my money from them and will never ever think about trading with them again.
Even larger spreads are usually not a big deal, because decent brokers try to mitigate the spread slippage. If not for their many shortcomings , it would be a very good broker with an outstanding selection of assets to trade. 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. FXDD has MAM and PAMM accounts alternatives for money managers.
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. Traders can choose between these two jurisdictions when they open their forex accounts – with Malta providing greater capital protection while Mauritius offering higher leverage limits.
Will usually ship within 5 business days of receiving cleared payment. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. If you’ve come this far simply to understand why many people hate FXDD so much, you know that most of these complaints are true. All the documentation that indicates their illegal activity is in open access. Depending on the type of product, the numbers would change, but the usual fee was $40.
For the most traded pair, the EUR/USD, the spread starts at 1.8 pip. On the positive side, with an ECN account, the EUR/USD minimum spread is 0.1 pip (typically 0.2 pip). 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. FXDD offers a good selection of more than 12,000 assets to trade, including Forex, indices, stocks, commodities and cryptocurrencies.
For the more experienced trader, this platform offers robust charting on the go and is available with the ECN and Standard accounts. 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. 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. The spreads offered by FXDD are reasonably competitive, especially considering that the brokerage offers zero commissions on its standard accounts and a large range of forex and other investment options. Traders will want to compare the spreads on various currency pairs as they certainly differ depending on the currency.
Overall, on our fxdd review, the broker scores 4.1 out of 5 as it is a good choice for traders looking for a reputable broker with safety of funds. On the downside, the protection offered by the Mauritius regulator is quite basic and that could scare-off many customers. Also, on the negative side, the overall cost of trading with FXDD is higher compared with other top brokers, with uncompetitive spreads and account related fees. Under the EU’s MiFID II , FXDD Malta Limited is approved to provide cross border services across the European Economic Area .
FXDD complies with the highest safety standards for client’s funds. For this reason, FXDD client’s funds are kept in top-tier international investment banks, fully segregated from the company’s funds. My friends talked highly about this platform, I like it here it seems trustworthy so I trust this piece of info will spread far and wide to all those who have fallen prey to FXDD & other scam brokers. “The Forex Trading Manual has hit the ball out of the park-a real home-run. We have long needed explicit instructions on the trading plan all the gurus say we need, and here it is..” Each requires the ability to manage multiple factors at once, be vigilant of the changing environment, and adapt when necessary. And both activities get much easier with time-if you follow the right set of rules.
In terms of FXDD’s fee structure, it makes more sense to withdraw one large monthly amount than several smaller ones. We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Now i know why people say don’t judge a book by its cover because i absolutely thought i was trading with a legit company is Stanford Finance Group. It is totally unsafe to trade with this fraudulent company because it it is an offshore broker. They’ve been fined several times by the authorities of Malta (where they’re registered) for artificially bloated slippage.
FXDD’s accounts do not have a definite minimum deposit requirement, although practically speaking, an amount of $250 or above is recommended for effective forex trading. The range of trading options, including forex pairs, equities, metals and other asset types make this platform attractive as a one-stop trading solution, especially as it offers four different trading platforms. After logging in to their platform of choice, traders will immediately see the forex pairs and other trading options with their fluctuating prices and other market information. Using FXDD’s Webtrader platform, it’s possible to perform various types of analysis by using charting tools including moving averages, candlesticks and other technical analysis features.
The app also gives you a choice to choose from Bar chart, candlestick and line chart for your added convenience and ease of understanding. You can also filter the graph based on short time intervals like 1 min, 5 min, 15 mins to hourly and daily time intervals for an in-depth analysis. When traders register their accounts, they will be asked to choose between a Malta and Mauritius account.
The key to becoming a proficient trader requires starting the process with the right basic knowledge, adopting sensible expectations, and having precise step-by-step instructions. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. By using this site, you are agreeing to security monitoring and auditing. “FXDD is honored to be the recipient of two awards from Global Banking & Finance Review,” commented Lubomir Kaneti, chief operating officer at FXDD.
/CNW/ – FXDD, a leader in online Forex trading and education, today announced a partnership with Mirror Trader, allowing FXDD clients to be the first to instantly sync Mirror Trader strategies with other FXDD platforms. Mirror Trader integration is currently available to clients using MetaTrader 4. FXDD expects to roll out this integration to its other platforms in the near future.
“This recognition is a continued testament of our commitment to our clients by offering them the best technology and platform resources as well as customer service representatives that they have grown to trust.” Data supplied in partnership with CashBackForex – Forex Rebates places FXDD on the top 25 brokers for popularity with traders opening an account in 2020. Forex education – FXDD also gets extra popularity points for their good range of Forex education materials, available through the Resources tab. FXDD clients can access market analysis and forecasts, with daily articles and expert market analyst’s comments. Also available FXDD trading guides with some Forex trading courses. FXDD trading spreads are not the most competitive in the market for the entry-level account .
FXDD holds client’s money separately to the company funds and does not use these funds for any operational expenses or purposes. Deposits are free on the FXDD system, and so is one withdrawal of funds per month. If a trader wishes to make multiple monthly withdrawals, a fee of $40 will apply to each one. A $100 wire fee also applies, with an additional $25 if the amount is under $100.
Coincidentally, your initial impression of them would be very favorable – they have a clean platform with decent requirements for trading. FXDD is an untrustworthy broker with some very dubious reputation. If you value your money, you shouldn’t be trading here, but go instead to a more transparent and benevolent provider. When typing in this field, a list of search results will appear and be automatically updated as you type.
“With Mirror Trader’s extremely user-friendly interface, it doesn’t take an expert to trade professional strategies and define the right approach.” Founded in 2002 and headquartered in Malta, FXDD is an emerging hub for foreign exchange trading and global finance. FXDD Malta Limited holds and operates under the rules laid out by a Category 3 License from the Malta Financial Services Authority . Deposit fees – Trading https://broker-review.org/ 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. Currently, FXDD trading accounts are available in USD, EUR, GBP, JPY, CHF and BTC. FXDD also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts.
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. For accounts opened via FXDD Mauritius Ltd, there is no Negative Balance Protection. Without NBP, FXDD Mauritius Ltd customers are not protected from any losses bigger than their original investments, in cases of extreme market volatility.