Broker Fxdd

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FXDD Review

Please Note: FXDD was not included in the 2020 annual review. As a result, this broker’s ratings may be outdated. Read our Best Forex Brokers 2020 guide for a look at the top rated forex and CFDs brokers.

The ForexBrokers.com annual forex broker review (four years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Founded in 2002 and part of US-based Nukkleus Inc (OTCPINK:NUKK), FXDD was an early pioneer offering third-party trading platforms, including the MetaTrader platform. The broker offers its products and services primarily via its EU-passported Malta entity, regulated by the MFSA.

While the FXDD brand benefits from being owned in part by a public company, Nukkleus’ market cap was barely $13 million as of March 2020, which is very small and a concern when it comes to solvency long term.

Review Summary

Despite a competitive social copy trading offering, FXDD’s regulatory footprint is weaker than most EU firms and the broker’s overall trading experience, including research, fails to impress.

Benefits

  • Several social copy-trading and algorithmic trading platforms.
  • Competitive commissions and spreads on ECN account.
  • Offers cryptocurrency CFDs trading.

Considerations

  • Regulated only in the EU via Malta.
  • Limited range of trading instruments and forex pairs.

Is FXDD Safe?

FXDD is considered high-risk, with an overall Trust Score of 69 out of 99. FXDD is not publicly traded and does not operate a bank. FXDD is authorised by zero tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). Learn more about Trust Score.

Regulations Comparison

Feature FXDD
Year Founded 2002
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses 0
Tier-2 Licenses 0
Tier-3 Licenses 1
Trust Score 78

Commissions & Fees

FXDD offers two primary account types: Standard (commission free) and ECN (commission based). Between the two, the ECN account type provides more favorable pricing.

Benefits

  • On the commission-based ECN account there is a round-turn commission of $5.98 per 100K traded ($2.99 per side) for major pairs such as the EUR/USD (and $4.99 per side for all other pairs), which is added to low prevailing spreads (lower than the Standard account). With average spreads of 0.68 pips on the EUR/USD listed by FXDD, the all-in cost equates to nearly 1.29 pips after factoring in the RT commission of 0.598 pips.

Considerations

  • On the commission free Standard account option there is only the spread and no further commission added per trade. Standard accounts use market execution, leaving potential for re-quotes.
  • FXDD acts as principal (counterparty) to every trade, in terms of the execution method, in which the broker may act as a market maker/dealer, which means it doesn’t have to rely on third-party dealers the way an agency broker does. This enables FXDD to offer price improvements on limit orders, no slippage on entry orders, and fill-or-kill orders with no partial fills on its Standard account offering.

Further Reading

Fees Comparison

Feature FXDD
Minimum Initial Deposit $0.00
Average Spread EUR/USD – Standard N/A
All-in Cost EUR/USD – Active 1.29 (as of Sep 18)
Active Trader or VIP Discounts No

Platforms & Tools

Despite promoting multiple platforms, FXDD is primarily a MetaTrader4 (MT4) broker. The overall trading tools offering is just, “ok”.

Benefits

  • Alongside MT4, traders also have access to the broker’s proprietary, browser-based platform called Web Trader as well as third-party platform ZuluTrade.
  • Charts in FXDD’s WebTrader are powered by Trading View and provide a fluid experience. Zooming in an out of the chart is seamless and includes nearly 60 indicators. The one downside is the color scheme, which can cause price levels to become invisible when the highlight color is the same as the price color.

Considerations

  • At FXDD, MT4 comes mostly standard from the developer.
  • I was disappointed that research and news are missing altogether from the WebTrader platform. Adding news and research content, along with tools such as screeners, heatmaps, signals, and sentiment would all help elevate that platform. Until then, WebTrader will remain lightweight.

Further Reading

Tools Comparison

Feature FXDD
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

Research

All in all, FXDD provides a basic research experience that lacks depth in multiple areas important to forex traders.

Benefits

  • In 2020, FXDD added Trading Central to its research tools lineup.

Considerations

  • While FX research resources at FXDD are growing, there is still room for significant improvement if the broker wants to compete with industry leaders.

Further Reading

Research Comparison

Feature FXDD
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist No
Trading Central (Recognia) Yes
Delkos Research No
Social Sentiment – Currency Pairs No
Economic Calendar Yes

Mobile Trading

MT4 is the primary choice for trading on the go with FXDD. The experience is reliable, however compared to industry leaders, it left me wanting more.

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Benefits

Considerations

  • FXDD provides no proprietary mobile apps for both iOS and Android.

Further Reading

Mobile Apps Comparison

Feature FXDD
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

Offering of Investments

The following table summarizes the different investment products available to FXDD clients.

Offering Comparison

Feature FXDD
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 54
CFDs – Total Offered 34
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Other Notes

While the FXDD brand was previously regulated by the NFA, it exited the U.S. as the industry consolidated, and its U.S. clients were acquired by one of its peers (FXCM). As a result, FXDD is currently regulated only in the European Union (EU) from its passported entity regulated by the MFSA in Malta.

Final Thoughts

FXDD has been around for over 15 years and was an early pioneer in offering MetaTrader.

While FXDD offers clients a variety of platforms to use and average rates, the broker has ample room to grow to shine compared to industry leaders.

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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FXDD Forex Broker Review | FXDD Metatrader (MT4) | FXDD.com Forex Trading

FXDD execution and slippage

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be.

Our slippage data about FXDD is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.

FXDD slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit: 14.0 pips
Average trade lifespan: 19 hours
Most traded pairs: EUR/USD, GBP/USD and USD/CHF

FXDD slippage with Saved FX trading strategy

Average profit: 16.0 pips

Average trade lifespan: 1 day

FXDD slippage with Qurenix trading strategy

Average profit: 9.0 pips

Average trade lifespan: 5 hours

FXDD slippage with Forex Cruise Control trading strategy

Average pips/trade: 5.0

Average trade lifespan: 18 hours

FXDD slippage with For333 trading strategy

Average pips/trade: 12.0

Average trade lifespan: 15 hours

FXDD slippage with Azar Consulting trading strategy

Average profit: 28.0 pips

Average trade lifespan: 3 days

FXDD slippage with The Best Player trading strategy

Average profit: 22.0 pips

Average trade lifespan: 13 hours

FXDD slippage with Xiaolidao trading strategy

Average pips/trade: 9.0 pips

Average trade lifespan: 1 day

FXDD slippage with Youron trading strategy

Average profit: 9.0 pips

Average trade lifespan: 11 hours

FXDD slippage with Duanxian(GBP\USD) trading strategy

Average profit: 10.0 pips

Headquarters: 75 Park Place, New York, NY 10007

Country: United States

Regulated by: NFA/CFTC

minimum deposit: $250

minimum lot size: 1k

max leverage: 1:50

Variable, standard spreads from 2 pips, extreme spreads from 0.8 pips + $6 commission per lot

Bank Wire, Credit card, PayPal

FXDD is a global forex broker offering a vast choice of trading platforms: the industry’s most popular MT4, MTX (an enhanced version of MT4), PowerTrader (a professional ECN platform powered by Currenex), Viking Trader (another ECN platform powered by Currenex), Jforex (Dukascopy Bank’s trading platform), and its own Swordfish.

Latest news about FXDD

  • NFA fines FXDD $500,000 for inadequate anti-money laundering program Dec 13 2020 12:05:11
  • FXDD to Be First to Adopt New Forex Solution from Tradency Jan 21 2020 11:49:04
  • FXDD Malta Now Offers Binary Options Trading Dec 10 2020 11:44:33
  • FXDD Trims Headcount, Says No Impact on Business Nov 22 2020 09:40:37
  • CFTC Imposes $275,000 Fine on FXDD over Capital Rules Breach Oct 01 2020 06:06:03
  • NFA Slaps $1.1m Fine on FXDD over Unfavorable Slippage Sep 19 2020 06:22:50
  • FXDD Adds Six New Currency Pairs to Its Forex Offering Jul 16 2020 15:17:51
  • FXDD Introduces FDIC Insurance to Protect Client Funds Apr 10 2020 10:22:07
  • Get a Bonus of $250 To Try FXDD’s Extreme Spreads Mar 14 2020 13:59:29
  • FXDD Reduces Spreads and Commissions for MTX Accounts Dec 19 2020 16:46:09

See more.

  • NFA Takes Emergency Enforcement Action Against FXDD Dec 10 2020 08:23:51
  • JForex platform now available to FXDD clients around the globe May 07 2020 14:47:11
  • FXDD launches USD/CNY, USD/KRW, USD/TWD and USD/INR trading Mar 28 2020 14:16:43
  • FXDD releases JForex mobile forex trading app Dec 16 2020 14:43:16
  • FXDD acquires FrontierFX and its multi-bank forex trading platform Sep 21 2020 13:19:17
  • FXDD to offer Chinese Renminbi (USD/CNH) trading Sep 20 2020 23:22:26
  • FXDD Chief Currency Analyst to instruct traders on technical analysis Sep 01 2020 14:08:07
  • FXDD offers 5% bonus on funds transferred into their JForex account Jul 11 2020 21:00:00
  • FXDD to continue offering spot Gold and Silver trading on 1:1 non leverage bases Jul 07 2020 21:00:00
  • FXDD offering Dukascopy Bank JForex platform in US Jul 03 2020 21:00:00
  • FXDD to sponsor Formula 1Red Bull Racing Team in 2020 Apr 10 2020 21:00:00
  • FXDD launches a new Trade Inside the Spread feature Feb 28 2020 22:00:00
  • FXDD/SpeedSource Mazda RX-8 GT qualified in 17th position at Daytona Jan 30 2020 22:00:00

See less.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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