Benjamin Roussey rates this 4/5
Average User Rating
No users have rated this product
FXDD Broker Review From: FXDD Malta Ltd.

Pros
Easy deposit and withdrawal, good customer support, reliable MT4 trading platform.

Cons
Relatively wider spreads compared to several other brokers, slow execution during news events.

Verdict
FXDD offers ease of operations, good customer support, and has a concrete reputation in the market. However, if you are looking for the lowest spreads and low commissions, consider smaller brokers.

FXDD Forex Trading Platform Review - How does it compare to the rest?

FXDD is a leading forex trading platform that was established in 2003. As an ECN broker, FXDDís business model enables it to provide its customers with interbank market maker prices. So while as a trader you can focus on the trading activity, the platform works in the background to facilitate your trades at the best possible prices. Individual traders, investment managers, and introducing brokers can expect to receive transparent pricing, which lets each one maximize their trading profits.

Forex Spreads

FXDD claims, like most other forex brokers, to provide fixed spreads. However, during high volatility periods such as news events, the spreads may become variable. Compared to several small brokers, the spreads with FXDD can be higher. Commission is also charged on specific accounts and trades. In that sense, FXDD may not be the cheapest available broker on the market, if you are looking for one.

Online Trading

FXDD website is easy to navigate, but not nearly as sophisticated as some other top online trading websites. However, the advantage with FXDD is that it provides five different trading platform options to choose from. The popular platform is MT4, which allows for trading with a minimum deposit of $250. If you are an institutional trader, you may choose the PowerTrader platform, which requires a minimum deposit of $25,000. Reliability and safety with FXDD is assured because the company is well-regulated as a member of NFA and MFSA, much like other large online brokers.

Easy to Start Trades

FXDDís application process is simple, but takes one day to complete. Deposits for live trading are accepted through bank wire transfer, personal checks and Paypal. Beginners are provided with free demo accounts that can be downloaded for all the five trading platforms. FXDDauto Trader platform is also provided, which allows you to choose from signals providers who then trade your account automatically. However, for the beginners it may take some time to learn the trading platforms.

Customer Service and Training

FXDD provides very good customer service along with comprehensive trading tutorials and training. Support is available via phone, email and live chat in different languages. FXDD also conducts live trading seminars around the United States for a fee. Seminar schedules are available at the companyís website.

What Others are Saying

Some customers are of the opinion that the performance of FXDD has gone down over the years. However, some other customers are very satisfied with the overall performance and service, but find the currency spreads to be wider compared to low-cost brokers. Editor reviews provide high ratings to the company.

Date Reviewed: October 11, 2011, 3:02 pm
Reviewed by Benjamin Roussey
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