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FXDD is one of the biggest brokers in the Forex market, it has both presence in US and a global division. The broker has been operational for several years (since 2002), and is renowned amongst the community attributed to its various motorsport team sponsorships. It offers trading in Forex, Cryptocurrencies, Options and CFDs. Their homepage is well equipped with information and the broker has an array of trading tools, services and learning material.
Platform
FXDD offers the following platforms to its traders:
- MetaTrader4
- MTXtreme
- AUTO
- PowerTrader (with Currenex)
- VikingTrader (with Currenex)
- FXDD Trader
Customer Service
FXDD offers a comprehensive customer support that can be reached via live chat, call back or on telephone. The broker has tons of experience and they bring this expertise to their support staff, which is very knowledgeable.
Reliability
FXDD is a very reliable broker which is manifested in its long operational history. It is regulated by MFSA and is headquartered in Malta. It is also a testament of the trust that traders have put into the company over the years. The platforms they offer are state-of-the-art and some even qualify as being “institutional quality”.
FXDD Spreads & Commission
The broker offers both fixed and variable spreads and commissions, which is dependent on the type of account the trader has. The spreads are variable for larger accounts and fixed for smaller retail accounts on all asset pairs.
FXDD Account Types
- FXDD accounts come in 5 variations, such as:
- Mini Account
- Demo Account
- Segregated Account
- Islamic Account
- Managed Account
The FXDD minimum deposit for each account varies. For Mini accounts it is 250 US dollars and for the other accounts it is 2000 US dollars.
Promotions
The promotions change every few days at FXDD. Sweepstakes of 100 dollars was on offer at the time of writing; the sum was to be added to a trader’s account if they won a drawing. F1 tickers are also offered as a reward due to the FXDD’s sponsorship of Formula one team. Be sure to check the FXDD’s website for their latest promotional offerings.
FXDD Withdrawals & Deposits
FXDD offers a variety of methods for making deposits or withdrawals from their trading accounts. The methods are listed below:
- Credit Card: Maximum deposit – 10,000 USD
- Bank Wires: No limit
- Skrill: Maximum deposit – 10,000 USD
- Neteller: Maximum deposit – 10,000 USD
- Safe Cashier: Maximum deposit – 10,000 USD
- Smart2Pay: Maximum deposit – 10,000 USD
The broker does not charge any fees on its withdrawals.
PROS
- Tight Spreads: It eases one of your biggest expenses as a trade, if you are an individual trader, and lets the large accounts take advantage of institutional spreads
- Variety of Platforms: This assures there is something to suit everyone.
- Low Minimum deposit: Accounts can be opened with as little as $250
- Hassle – Free Fund Transfers: The deposit and withdrawal process is quick and hassle –free
CONS
- Issue with Variable Spreads: There can be an issue with the variable spreads during news events; this is applicable only if you are looking to cut down the news announcement.
Conclusion
Forex trading for beginners can be hassle-free with FXDD as it specializes in the segment. This broker is a very well regulated and has been operational over two decades now. It offers an array of trading platforms and trading accounts, which caters to different trading requirement. There is something for everyone. The dealer allows hassle –free fund transfer and withdrawals. It is an ideal fit for anyone looking for a trusted broker who has been in the business for a long, long time.
FXDD Review
Pros
- Tight Spreads
- Variety of Platforms
- Low Minimum deposit
- Hassle – Free Fund Transfers
Cons
- Issue with Variable Spreads