Arincen

Item: FXDD
Rating: 9.2

Key Takeaways

FXDD is a FOREX trading services broker, giving traders access to a wide variety of trading solutions, like indices, commodities, currencies, contract for differences (CFD), and metals. The metals category includes silver, gold and oil.
FXDD is regulated by the Malta Financial Services Authority (MFSA) and the Financial Services Commission (FSC) of Mauritius. It is also licensed by the UK's Financial Conduct Authority (FCA).
Accessible and affordable, FXDD’s standard accounts do not require high minimum balances.
FXDD offers several options for depositing and withdrawing funds easily and quickly. It operates its electronic communication network (ECN) accounts on a commission basis.
FXDD offers seven trading platforms, each with its own minimum deposits and features.

FXDD Evaluate - research result

Overall Evaluation 9.29

Regulations

8.5

Deposits and Withdrawals

Commissions

9.1

Assets

7.8

Trading Platform

Research and Development

Customer Service

Mobile App Trading

Learning

Experience with broker

Trading Tools

Website

Overall Summary

FXDD is headquartered in Malta (with offices in the US and the UK), founded in 2002, and is a FOREX and CFD broker offering a wide range of trading solutions to a large clientele, including hedge funds, white labels, individual and institutional traders, money managers, and introducing brokers (IB).

This broker currently offers a variety of trading accounts and accepts clients from 180 countries. FXDD is regulated by both the MFSA based in Malta and the FSC of Mauritius. Traders can choose between these two jurisdictions when opening FOREX accounts. Malta provides greater capital protection and Mauritius offers higher leverage limits.

Affordable and accessible, FXDD does not require high minimum balances on its standard accounts. Spreads offered on currency pairs are relatively competitive. FXDD offers a zero-slippage guarantee and no partial fills on order execution. It offers a no-commission policy on its Standard Account, with available price improvements on limit orders.

Traders seeking the lowest possible spreads will want to opt for FXDD’s ECN account, which has low commissions and 99% fill-rate (the percentage of customer demand that is met by immediate stock availability). Also available are indicative commissions of $0.0299/1,000 on major currency pairs and $0.0499/1,000 on exotic FOREX pairs, which are available on the ECN account. FXDD also offers CFDs (stocks and indices), cryptocurrency, metals, and energy trading.

Various available platforms allow traders to choose among MetaTrader4 (MT4) and MetaTrader5 (MT5), FXDD’s proprietary Webtrader, and Zulutrader, which is an automated trading system. Demo accounts are available for traders wanting to take time to explore the FXDD platform before committing to a live account. This will be discussed in more detail below.

fxdd

Rating

Foundation Year

2002

Main Branch

United States of America

Other Branches

United Kingdom

Languages

English, Spanish, Chinese, Russian, Arabic, Iranian

Work Hours

Market Opening Hours

Is FXDD Safe?

Yes: FXDD operates from Mauritius and Malta (an EU territory). It is regulated by the FSC of Mauritius and Malta’s MFSA. Also key is that FXDD is licensed by the UK's FCA, which many consider the industry gold standard for safety and regulation.

Traders registering their accounts are asked to choose between a Malta or a Mauritius account. Although most of the features and benefits of these accounts are identical, Malta applies more stringent EU regulations when it comes to protection of deposits in the case of a broker’s liquidation – about 95% of the first €20,000 held in the trading account.

In contrast, the Mauritius account offers relatively little in the way of deposit protection, although it makes up for this with a higher leverage allowance. Traders with a higher risk appetite may then want to opt for a Mauritius account to take full advantage of the enhanced flexibility.

Of course, reliability is essential for any online trading platform. More than 18 years of experience in the market has provided the company ample opportunity to refine its offerings. With several supported platforms, including its own proprietary Webtrader, which offers Web-based trading with full functionality, from a technical perspective, there is almost no room for error. FXDD performs well where reliability is concerned, offering effortless login and registration procedures that have traders ready to use the system in a matter of minutes.

FXDD prides itself on its speed of execution and superior customer service, key advantages to using the platform that spring from its dedication to making the trading process as easy and safe as possible. As with its platform offerings, the company performs very well in this area.

Who Is FXDD Recommended For?

Although FXDD’s accounts do not have a firm minimum deposit requirement, a minimum amount of $450 is recommended for “effective” FOREX trading. Thus, the platform is ideal for cost-conscious traders. The range of trading options – including FOREX pairs, equities, metals and other asset types – makes this platform attractive as a one-stop trading solution, particularly since it offers seven different trading platforms.

A separate Arincen article on cryptocurrency notes that it is becoming more popular by the day, and FXDD’s Ethereum, Ripple, Litecoin and Bitcoin trading options are a welcomed feature for traders in 2021 and beyond. This broker encourages traders to use the latest research and trend analyses to sharpen their skills and increase the opportunity of a successful trading experience.

Daily market updates and analysis, wave analysis, price action, Webinars, and constant market data updates are among the features that make FXDD an engaging and rewarding platform for FOREX traders.

Pros

Established in 2002.
Segregated client funds.
Low minimum deposits.
No commissions on the Standard Account.
A choice of two account jurisdictions.
Multiple platform support and comprehensive market data and analysis.
A good range of currency pairs and other assets to trade.

Cons

Not available to traders in the US.
Relatively limited range of instruments.
EU-client leverage restricted to 1:30.

Trading Account Information

Account Currency

USD

Minimum Deposit

$450

Segregated Accounts

yes

Payment Methods

Bank transfer, Credit Card, Electronic Banks, Crypto

America Accepts

Available Markets

Currency Pairs, Metals, Energies, Stocks, Indices, Cryptocurrencies

Trial Duration

Offering of Investments

The Mini Account and the Standard Account are the two types of accounts offered by FXDD. Both can be set up as an individual, joint or corporate account.

The Mini has a smaller contract size that allows traders to become familiar with the FXDD trading platform, leveraging the same tight spreads as a Standard Account. Other important characteristics of the Mini Account are no initial required minimum deposit, and a trader typically trades lots of 10,000 units of the bas currency. Of course, with available margin, it is possible to trade bigger lots. The maximum leverage is 1:200.

Meanwhile, the Standard trading account is appropriate for those who can afford more capital on a speculative risk/reward investment. The lot size can be as much as 100K units and the maximum leverage is a hefty 1:500.

A demo account is also offered. This account is valid for a one-month period, beginning on the first day of sign-up. The amount of virtual money offered for use in the demo account can be $50,000. On the 30th day, the demo account becomes inactive. If a trader requires additional time before opening a live account, he or she may register for more than one demo account on any of the platforms. The demo account has the same features of live accounts. Micro (1K), mini (10K) and standard (100K) lots can be traded with a demo account; demo trading is only available during regular trading hours. If any account equity is less than $5,000, a micro account on MT4 can be used; Trading in 1,000 base currency units (or dollar) increments on the MT4 platform is the micro.

If no trades are executed in an account within any given quarter (every 90 days), the account will be subject to a “dormant” account administrative fee, which is equal to the lesser of the remaining balance in the account or $15. If the account is assessed, the fee and the account balance is reduced to zero and the account will not incur any further inactivity fees.

As noted earlier with FXDD, traders can trade FOREX, commodities, indices, CFDs and metals, including gold, silver and oil. There is a choice from among 67 currency pairs and all instruments can be traded directly from the MT4 platform. Further, a very useful chart keeps traders well informed on all details of commodity trading.

FXDD is a commission-free broker and earns its income as a Market Maker. It does not charge commissions on trades made by self-directed clients on the FXDD trader, MirrorTrader, or MetaTrader platforms. FXDD uses Expert Advisor (EA) as a scripting tool in the MetaTrader platform, which allows users to program and implement their own trading algorithms. EA is offered to all accounts at FXDD, including Mini Accounts.

Signals at FXDD are provided by strategy providers available in the Mirror Trader. All trade signals are executed on remote servers; thus,traders need not be online for trades to be executed on their account. The “Exposure Meter” is an interesting feature at FXDD. and represents the leverage of a portfolio should all the strategies open up all max positions simultaneously. The Exposure Meter has a scale of 0-100, with anything above 80 (red zone) considered excessive.
FXDD AutoChartist scans charts to find chart patterns and possible trade setups and may be done with the standalone application or the custom indicator. MT4 will not do this without the Autochartist software.
Top FXDD Features
Multi-Platform Support: FXDD clients have access to multiple trade execution platforms, including MT4, MT5, Webtrader and ZuluTrade. Further, trades can be executed via available desktop, Web and mobile trading platforms.

Competitive Conditions: FXDD offers a large range of currency pairs, metals, energies, stocks, indices and cryptocurrencies to trade along with very affordable spreads and low or no commissions, depending on the account type.
Multiple Cryptocurrency Pairs: Trade Bitcoin, Litecoin, Ripple and Ethereum with leverage up to 1:10. Minimum trade size is 0.01/1, and a 10-contract daily limit applies.
Trading Data and News: Receive market news and updates directly from FXDD, including both data and insights provided by the brokerage’s in-house analysts. The scope of this information extends to charts, Webinars, video and wave analysis, and a live trading room.
Comprehensive Copy Trading: ZuluTrade offers access to profiles of some of the most successful FOREX traders and the ability to copy their exact trades. Such a dedicated automated trading platform is a great asset for those who are still learning FOREX..
Included in the FOREX trading tools FXDD offers, traders will see live currency quotes, rollover rates, trading calculators, and even more. The Learning Center offers news analysis, economic calendar and instructional material.

There are several trader guides and tutorials. FXDD Webinars include discussions on its platforms, charting packages, Mirror Trader's capabilities, and general market education.

Available assets

Markets	Available	Number of Assets
Currency Pairs		67
Stocks		1100
Commodities		19
Crypto		30
Indices		45
ETFs		1200

What Can You Trade with FXDD?

FXDD offers over 10 different instruments to trade, including 67 currency pairs.
What’s the FXDD trading experience like?

Platforms and apps

FXDD offers the popular MT4 FOREX trading platform, as well as its custom RoboX platform. Further, FXDD offers mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the go.

Executing Trades

FXDD permits you to execute a minimum trade of a single Lot, although this may vary depending on the account you open. Maximum trade requirements differ depending on the trader and the instrument

As a Market Maker, FXDD may have lower entry requirements compared to an ECN broker that benefits from a higher volume of trades and typically has larger capital and minimum trade requirements.
Market makers typically have smaller minimum trade requirements, a lower minimum deposit and no commission on trades. As with most brokers, margin requirements vary depending on the trader, accounts and instruments.

Client Support.

FXDD offers more than three languages, as well as email, chat and phone support.

Advantages of Trading

Maximum Leverage

1:500

Minimum Lot Size

0.01 Lot

Available FOREX Pairs

67 Currency Pairs

Scalping

Yes

Hedging

Yes

Spread

Starting from 0.3 pips

Trailing Stop

Yes

Islamic Account

Yes

Trading Platforms

MT4, MT5, CTRADER, Web Platform

Regulatory Bodies

FCA

Broker Type

STP

Account types

Account Type	Minimum Deposit	Spread Commission	Commission	Swap Commission	Deposit Commission	Withdrawal Commission
Standard account	450$	Starting from 0.3 pip	0$	No	0$	0$
Variable spread account	450$	Starting From 1.2 pip	0$	No	0$	0$
ECN account	450$	Starting from 0 pip	Starting from 0$	No	0$	0$

Deposits and Withdrawals

FXDD offers several options for depositing and withdrawing funds easily and quickly. There are no fees for making a deposit, and you are free to withdraw your funds at any time. Funding can be done via bank wires, credit cards, Skrill and Neteller, among other online payment programs. PayPal is not available.

Withdrawals are made by completing the FXDD Funds Redemption form and submitting by FAX to FXDD’s office in Malta.

Customer Support

Contact with an FXDD representative can be made by phone 24/5, five days a week. Email communication and chat are also available.

Commissions and Fees

FXDD operates its ECN accounts on a commission basis, with a commission of $0.0299/1k or $0.299/10k for common currency pairs, and $0.0499/1k or $0.499/10k for less-common pairs. The Standard Account is commission free, although certain fees apply to both accounts.

The spreads offered are reasonably competitive, especially considering 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 because they certainly differ, depending on the currency.

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. A $100 wire fee also applies, with an additional $25 if the amount is under $100. Given FXDD’s fee structure, it is more logical to withdraw one large monthly amount than several smaller ones.

Platforms and Tools

FXDD has seven trading platforms, each with different minimum deposits and various features.
MT4

MT4, a leader in FOREX trading software for years, offers instant orders with “Fill” or “Kill” execution, an intuitive user interface, fast and secure execution, competitive spreads and is fully supportive of EAs.

MTX

This platform is essentially the same as the MT4 platform.
Others
FXDD also offers separate platforms for institutional or high-volume traders, including PowerTrade, Viking, JForex and Swordfish.
FXDD has received several awards over the years, including Most Trusted Forex Broker Europe 2012, Best New Platform Europe 2012 by Global Banking & Finance Review, FX Traders’ Choice Awards in 2010, Best Broker in Middle East and North Africa 2011, Most Transparent FX Broker 2011, Best New Platform (Europe) 2012 and Most Trusted Forex Broker (Europe) 2012.
The first step to becoming an FXDD user is registering an account. This process is relatively straightforward and can be completed in a matter of minutes. After receiving a confirmation email, traders will then download the trading platform they chose during registration: MT4 or MT5, ZuluTrade or the proprietary FXDD Webtrader, which launches automatically in a browser window.
If a demo account is used, the login details will either be generated by the third-party trading platform or will be sent to the trader by email if they are using Webtrader.
In terms of funding the trading account, FXDD offers several deposit options: bank deposit, credit or debit card, Neteller and Union Pay, but not PayPal. The deposit process is simple and easy, and no commissions are charged by FXDD to deposit funds.
As mentioned previously, there are several fees that apply to multiple withdrawals within the same month, which act as an incentive for traders to bank their profits on the system and collect them as a single monthly lump sum withdrawal.
After logging in to their platform of choice, traders immediately will see the FOREX pairs and other trading options with their fluctuating prices and other market information. Using FXDD’s Webtrader platform, it is possible to perform various types of analysis by using charting tools, including moving averages, candlesticks and other technical analysis features.
By clicking on a currency pair, metal, stock or other asset type, traders will call up a buy window that allows them to specify the details of their trade and execute it almost immediately. The overall user experience is smooth and enjoyable, with a variety of intuitive-to-use informative trading tools.

Mobile Trading

FXDD's mobile software enables traders to access accounts from iPhones, Android handsets and tablets. With seamless integration across desktop accounts, traders can place orders and manage positions with speed and security.

Research and Development

FXDD provides traders a vast selection of excellent quality market research from both in-house and third-party providers. These are designed to provide traders with daily market updates, the latest economic news from reputable sources, and a weekly Webinar. Further, FXDD integrates Autochartist and Trading Central into its platform, allowing traders to view trade signals generated by automated pattern-recognition and technical analysis. FXDD's research tools also include important staples, such as an economic calendar.

Final Thoughts on FXDD

Overall, FXDD is a low-commission, comprehensive online FOREX broker with a good range of asset types and platforms from which to choose. Traders who are looking for a budget-friendly, low-deposit platform with a respectable number of FOREX pairs and other tradable assets will probably find much value in FXDD’s offering.

Conclusion

FXDD is a well-rounded and versatile broker with several different platforms that cover all skill levels and styles. Low initial deposit requirements and easy-to-use educational resources add to its appeal to all types of traders. FXDD’s minimum spread for trading EUR/USD is 1.8 pips, which is relatively high compared to other market spreads being offered.

FXDD in Brief

FXDD received the highest score in our survey (92.15%). It is one of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits. This Malta- and New York-based company has the UK's FCA license to its credit. It also has a rich portfolio of assets, offers a relatively low spread and the MT4 platform. Further, it has excellent and fast customer service and also offers traders a variety of ways to deposit money.

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

Companies’ Websites.
Other Websites that have ranked FOREX companies.
A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise.

We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.

Afterward we validated the data by:

Registering with FOREX companies as a secret shopper and/or as Arincen.
Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.