The brokerage company is considered one of the most honest and transparent platforms in America and CIS countries. Among the undisputed advantages of the broker – scalping and hedging technique, stop-trailing function and the ability to automatically conduct trades. We will understand what else attracts traders to open accounts in the company in this article.
Broker’s descriptionThe broker was founded in 2002 in Malta. Today, the company operates in the United States of America, CIS countries, the Eurozone and Asian countries. FXDD allows users to access forex trading with flexible terms and relatively low spreads.
License and legal regulationFXDD is licensed by the U.S. NFA regulator and MFSA Malta. Many traders are dubious about the broker because Malta registers companies offshore, which allows them to evade taxes of the states in which FXDD offices are located. The brokerage company is headquartered in Malta, America.
Complaints and claimsIn the 17 years since the founding and transition to online mode, the company has earned a reputation as a fairly reliable and transparent broker. To date, no organization or individual has filed lawsuits against the broker.
User reviewsUsers noted the following positive aspects in the broker’s work: the presence of several trading platforms, the absence of restrictions on the use of financial instruments, reduced spreads and the absence of a commission fee. Among the drawbacks – the large size of the first deposit and a long update of quotations. Many clients write about debiting funds from accounts at a time of long absence of activity and concluded deals. According to statistics, 86% of clients are satisfied with working with trading tools and investment strategy FXDD, the remaining 14% are not satisfied or do not want to take responsibility for the right choice of tools and rational approach to the use of their finances.
Trading conditionsThe company provides trading services through currency pairs, indices, difference contracts, metals and dragstones with additional One-Cancels-Other orders. Despite the broker’s orientation to Western traders, a considerable number of Russian-speaking traders living in the post-Soviet space have mastered the work on the platform. The site is available in English, Russian, French, Spanish, Chinese, Portuguese, Arabic, German, Turkish, Japanese, Vietnamese.
Spreads and commissionThe minimum deposit is $250, the leverage is floating, 1 to 200, and depends on the type of account. Spread – from 1.3 points. The commission fee is from 0%. The minimum transaction volume is 0.01.
Account typesThe company provides Standart and Mini accounts for self-trading for customers. The minimum deposit for Standart is $2,000 and the Mini is $250. Standart Commission – 3%, Mini – 0%. Spread floating, minimum order from 0.1, minimum spread in Standart – 0.8 points, in Mini – 2 points. For beginners, there is a demonstration account, allowing you to trade for virtual money, while not risking to lose their own capital. With it, the client can better learn the tools and functionality of the site, as well as test several trading strategies.
Stocks and bonusesFXDD does not provide bonus programs for beginners or experienced players in the market. Participation in competitions also remains inaccessible to clients of the brokerage company.
Trading with FXDDThe platform offers the function of incorporating assistants who act as automatic advisors during bidding. Traders are promised high-quality transactions without slippage, as well as the presence of segregated accounts for the storage of deposit funds.
Trading platformsThe broker enters the market using several trading platforms – MetaTrader4, MTXTreme, FXDD Trader, Mirror Trader. Trading terminals have many execution orders, more than 50 indicators for technical analysis and tools for graphic analysis. MetaTrader4 is the most popular and is presented in the computer and mobile version for iOs and Android. The basic indicators are zig-zag, IceFXSpreadMonitor, Fibonacci and Murray levels.
TrainingA separate section of training on the platform is present, and the trader is available free quality training materials. Every day the broker organizes webinars with invited guests-experts. A significant disadvantage is that all resources are available exclusively in English.
SupportThe trader can use the technical support service, which keeps in touch with customers in 13 languages around the clock. You can contact the technical support by phone, online chat. e-mail or Skype.
ConclusionsUsers note the high level of availability of the broker, a wide range of tools, trading platforms and strategies. However, there are also complaints among customers about delayed withdrawals and interface failures. Successful work with the platform is more successful for English-speaking players who have added to their knowledge of educational materials. Most Russian-speaking users who do not have the necessary skills in trading and do not speak a foreign language express a negative attitude and often move to other platforms offering alternative tools. When registering a personal account, the broker warns that all responsibility for the amount of lost funds and additional expenses lies with the client.