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Do you want to know which is the better broker between FXDD and FX Choice ?
In the table below, you can compare the features of FXDD , FX Choice side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fxdd, fx-choice lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
FXDD Review Summary in 10 Points | |
Founded | 2002 |
Registered Country/Region | Malta |
Regulation | MFSA (Suspicious clone) |
Market Instruments | Forex, Metals, Stocks, Energies, Indices, Stocks and Cryptocurrencies |
Demo Account | Available |
Leverage | 1:30/1:100 |
EUR/USD Spread | 1.8 pips |
Trading Platforms | MT4, MT5, WebTrader and FXDD Mobile |
Minimum deposit | N/A |
Customer Support | 24/5 live chat, phone, email |
FXDD, a trading name of FXDD GLOBAL, is an online trading broker established in Malta in 2002. FXDD is regulated by the Malta Financial Services Authority (MSFA, suspicious clone) (License No. C48817). The broker provides access to various financial instruments, including currencies, commodities, metals, and indices, through multiple trading platforms.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros | Cons |
• Multiple trading assets and funding options | • Suspicious clone |
• MT4 and MT5 supported | • Regional restrictions |
• 24/5 customer support with multiple contact options | • Some negative reviews from clients |
• No deposit or withdrawal fees for most methods | • Inactivity fee charged after 90 days |
• Rich educational resources |
Overall, while FXDD offers a range of benefits including a diverse range of trading instruments and various trading platforms, potential users should also consider the reported issues and fees before deciding if FXDD is the right fit for their needs.
There are many alternative brokers to FXDD depending on the specific needs and preferences of the trader. Some popular options include:
BDSwiss - a reliable and regulated broker with a user-friendly platform and a range of educational resources, but its fees and limited product offerings may not be suitable for all traders.
Darwinex - a unique broker that offers a social trading platform and innovative investment opportunities, but its high minimum deposit and limited product range may not be ideal for all traders.
Equiti - a well-regulated broker with a strong focus on transparency and client education, offering a variety of trading platforms and a wide range of instruments, but its fees may be higher than some competitors.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
The presence of a suspicious clone Malta Financial Services Authority (MFSA) license raises concerns about the legitimacy and credibility of FXDD. It also has got many negative reviews from the clients complaining about the platform. It is important for potential clients to conduct their own due diligence and research, as well as consider factors such as regulatory compliance, customer reviews, and transparency before deciding whether to engage with the company.
FXDD provides investors with access to popular tradable instruments in the financial markets across six asset classes, mainly Forex, Metals, Stocks, Energies, Indices, Stocks and Cryptocurrencies. Traders can access the forex market including majors, minors, and exotics. Metals such as Gold, Silver, and Platinum can be traded as well. Stocks of some of the world's leading companies are also available to trade with FXDD. Energies such as crude oil and natural gas, and Indices including S&P 500 and Nasdaq are also popular tradable instruments offered by FXDD. Lastly, FXDD also offers cryptocurrencies like Bitcoin, Ethereum, and Litecoin. With such a diverse range of instruments, FXDD provides traders with plenty of options to invest in the financial markets.
FXDD offers two types of accounts for traders, namely Standard accounts and ECN accounts. The Standard account is suitable for beginners or those who want to trade in smaller amounts. On the other hand, the ECN account is designed for more experienced traders who want to benefit from tighter spreads and faster execution speeds, with the added benefit of no dealing desk intervention. Standard or ECN available on MetaTrader4/5, ECN only on WebTrader. Additionally, FXDD offers a demo account for traders to practice their strategies in a risk-free environment.
Leverage depends on the instruments traded and is defined by the regulatory restrictions together with the traders level of proficiency. So the available leverage allows to trade with increased level-up to 1:30, yet the professional traders may be entitled to higher leverage of up to 1:100. However, it's important to remember that higher leverage also increases the potential risk, so traders should exercise caution and consider their risk tolerance before using high leverage ratios.
Spreads and commissions vary depending on the account type and trading instrument. Take EUR/USD pair as an example, the spread is floating around 1.8 pips on the Standard account, while floating around 0.3 pips on the ECN account. There is no commission on the Standard account, while ECN accounts do charge a commission. Specifically, $0.299 per 10,000 for EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, EUR/JPY and GBP/JPY; $0.400 per 10,000 for others.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
FXDD | 1.8 pips | None |
BDSwiss | 0.3 pips | None |
Darwinex | 0.5 pips | variable |
Equiti | 0.0 pips | $3.50/lot |
Note: Spreads can vary depending on market conditions and volatility.
FXDD Trading provides traders with access to the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are known for their user-friendly interface and powerful analytical tools. In addition to these market-leading platforms, FXDD also offers its own fully-featured WebTrader platform, which is accessible from any browser without the need to download any software. For traders who prefer to trade on-the-go, FXDD Mobile is a mobile app that is available for both iOS and Android devices, and is specifically designed for advanced traders who require real-time access to their trading accounts.
Overall, FXDD's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platforms |
FXDD | MetaTrader 4, MetaTrader 5, WebTrader, FXDD Mobile |
BDSwiss | MetaTrader 4, MetaTrader 5, BDSwiss WebTrader |
Darwinex | MetaTrader 4, MetaTrader 5, cTrader |
Equiti | MetaTrader 4, MetaTrader 5, WebTrader |
FXDD works with numerous means of deposit and withdrawal choices, consisting of Visa, UnionPay, Neteller, Skrill, Bank Wire and TMI Trust Company. Most deposits and withdrawals do not incur any fees, although TMI Trust Company may charge some unspecified deposit and withdrawal fees.
FXDD | Most other | |
Minimum Deposit | N/A | $100 |
It is common for brokers to charge an inactivity fee to cover the costs of maintaining an account that is not being used. FXDD also applies an inactivity administrative charge to accounts that are inactive for more than 90 days.
The amount of the fee depends on how long the account has been inactive, $40 for accounts inactive for less than 1year, $50 for accounts inactive for 1-2 years, $60 for accounts inactive for 2-3 years, and $70 for accounts inactive for over 3 years. Traders should keep this in mind when considering opening an account with FXDD and ensure that they maintain regular trading activity to avoid these fees.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
FXDD | Free | Free | Yes |
BDSwiss | Free | $5-$10 | Yes |
Darwinex | Free | Free | No |
Equiti | Free | Free | No |
FXDD follows standard trading hours typically Sunday 5 pm to Friday 5 pm (EST). Monthly trading hours may change by instrument and are posted on the latest news section of the brokers website.
FXDDs customer support can be reached 24/5 hours (Sunday 5PM to Friday 4:55PM EST) by live chat, telephone: +1 (212) 720-7200, email: support@fxddtrading.com or request a callback. You can also follow this broker on social networks such as Twitter, Facebook, and YouTube. Company address: FXDD Trading, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.
Overall, it appears that FXDD is committed to providing accessible and responsive customer support to its clients.
Pros | Cons |
• Available 24/5 | • No 24/7 customer support |
• Multiple contact options | |
• Active on social media platforms |
Note: These pros and cons are subjective and may vary depending on the individual's experience with FXDD's customer service.
FXDD offers a range of educational resources to help traders improve their knowledge and skills. The broker provides daily market analysis and research reports, which can be accessed on their website. They also offer a variety of online tools such as trading calculator, trading guides and VPS. Traders can find a range of account forms, including account applications and funding forms, to make it easy to manage their accounts. Additionally, FXDD provides a comprehensive FAQ section and glossary of financial terms to help traders better understand the markets and trading concepts.
It is not uncommon for trading platforms to encounter technical issues or glitches from time to time, and FXDD is no exception. On our website, you can see that some users have reported many problems with their platform. While there have been some reports of users experiencing problems with the platform, it is difficult to determine the extent of these issues without further information or context. It is always recommended to thoroughly research and review a broker before deciding to invest with them.
You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Taking into account FXDD's trading conditions, customer support, and educational resources, it may be considered a potentially viable option for traders. However, the reports of a suspicious clone license and mixed reviews from clients raise some concerns that should be taken into consideration before making a decision. As with any financial service provider, it is important to do thorough research and due diligence before opening an account.
Q 1: | Is FXDD regulated? |
A 1: | No. It has been verified that FXDD holds a suspicious clone Malta Financial Services Authority (MFSA) license. |
Q 2: | At FXDD, are there any regional restrictions for traders? |
A 2: | Yes. FXDD does not accept residents of American Samoa, Angola, Belarus, Bermuda, Burundi, Cameroon, Central African Republic, Chad, Congo, Congo, Democratic Republic of Cuba, Equatorial Guinea, Gabon, Iran (Islamic Republic of), Korea (Democratic People's Republic of), Lebanon, Libya, Marshall Islands, Puerto Rico, Russian Federation, Sao Tome and Principe, Sudan, Syrian Arab Republic, United States of America, Venezuela (Bolivarian Republic of), Virgin Islands (U.S.), Yemen, Zimbabwe. |
Q 3: | Does FXDD offer the industry-standard MT4 & MT5? |
A 3: | Yes. FXDD supports MT4, MT5, WebTrader, and FXDD Mobile. |
Q 4: | What is the minimum deposit for FXDD? |
A 4: | The minimum initial deposit with FXDD is $100. |
Q 5: | Does FXDD charge a fee? |
A 5: | Like every forex broker, FXDD charges a fee when you trade - either in the form of a commission fee or spread fee. It also charges an inactivity fee. |
Q 6: | Is FXDD a good broker for beginners? |
A 6: | No. FXDD is not a good choice for beginners. Though its trading conditions are advertised well, its MFSA license is a suspicious clone, which means trading with this broker is full of danger. |
Registered in | Belize |
Regulated by | FSC |
Year(s) of establishment | 2-5 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:1000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5, webtrader |
Deposit and withdrawal method | cryptocurrencies, VISA, MasterCard, Perfectmoney, Skrill, Neteller, astropay and many other options |
Customer Service | Email/phone number/address/live chat/call back |
Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Multiple account types with varying minimum deposits and commissions to suit traders with different needs and preferences.
The option to trade a wide range of financial instruments including Forex, metals, indices, cryptocurrencies, and shares.
Multiple platform options including the popular MetaTrader 4 and 5, as well as a WebTrader platform.
High leverage of up to 1:1000 for the Optimum account, providing the opportunity for potentially higher profits.
A variety of deposit and withdrawal methods, including popular e-wallets and cryptocurrencies, with a 15% deposit bonus available.
Comprehensive educational resources including autotrade, copy trading, and trading signals to help traders make informed decisions.
Multilingual customer support available 24/5 via phone, email, live chat, and call back.
Cons:
Limited options for those who prefer a low minimum deposit or zero commission account.
Pro account holders are charged a commission of USD 3.5 per side, which may be relatively high for some traders.
Limited to only a few trading platforms, which may not suit traders who prefer other platforms.
The maximum leverage available of up to 1:1000 for the Optimum account may be too high for some traders who prefer a lower level of risk.
The customer support service does not offer 24/7 assistance.
Advantages | Disadvantages |
FX Choice offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, FX Choice has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
FX Choice is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FX Choice acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FX Choice has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FX Choice or any other MM broker.
With a history between 2 and 5 years, FX Choice is an online forex broker regulated by FSC and is dedicated to providing a series of common forex instruments.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of trading markets including currency pairs, indices, commodities, metals, energy, cryptocurrencies, and stocks | None found |
FX Choice offers a vast selection of tradable instruments, including forex, indices, commodities, metals, energy, cryptocurrencies, and stocks. This wide range of markets provides traders with numerous opportunities to diversify their trading portfolio and take advantage of different market conditions. For instance, traders can choose to trade the highly liquid forex market, take positions on the commodities market, or trade the popular cryptocurrency markets. Additionally, traders can access various indices, energy, and metal markets to take advantage of market opportunities. Overall, the broad range of trading instruments on FX Choice makes it a suitable broker for both new and experienced traders who want access to multiple markets. No disadvantages were found in this dimension.
Advantages | Disadvantages |
Competitive spreads | Pro account commission of USD 3.5 per side is relatively high |
No commission on Classic and Optimum accounts | Optimum account has higher spreads compared to other accounts |
Rebates available on Pro account |
FX Choice offers competitive spreads on all its account types. The Classic account has spreads starting from 0.5 pips, while the Optimum account has spreads starting from 1.5 pips. The Pro account has spreads starting from 0 pips but charges a commission of USD 3.5 per side, which is relatively high compared to other brokers. However, rebates of up to USD 2 per side are available for high-volume traders on the Pro account. There are no commissions charged on the Classic and Optimum accounts, making them suitable for traders who do not want to pay additional fees. Overall, FX Choice's spreads are competitive and can be considered an advantage for traders.
Demo Account: FX Choice provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live account: FX Choice offers three account types: Classic, Optimum, and Pro Accounts. The Classic Account has a minimum deposit of USD 100 and offers tight spreads starting from 0.5 pips. The Optimum Account, on the other hand, requires a minimum deposit of only USD 10 but has wider spreads starting from 1.5 pips. The Pro Account has a minimum deposit of USD 100 and offers the tightest spreads starting from 0 pips. However, it comes with a relatively high commission fee of USD 3.5 per side. All account types allow for a minimum lot size of 0.01 lots, and the leverage for forex and metals trading ranges from 1:200 to 1:1000. Moreover, the accounts support different markets, including forex, indices, metals and energies, cryptocurrencies, and stocks, among others.
Classic Account | Optimum Account | Pro Account | |
Minimum deposit | USD 100 | USD 10 | USD 100 |
Tight spreads starting from | 0.5 pips | 1.5 pips | 0 pips |
Minimum lot size | 0.01 lots | 0.01 lots | 0.01 lots |
Commission charged Negative figure under ‘Commission’ in trade history | No | No | USD 3.5 per side (USD 1.5 for high-volume traders, see Pips+), per notional amount of USD 100,000 |
Rebate added Above-zero figure under ‘Commission’ in trade history | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | No |
Leverage | Forex, metals — up to 1:200; more markets. | Forex, metals — up to 1:1000; more markets. | Forex, metals — up to 1:200; more markets. |
Margin level for hedge/lock positions | 50% | 50% | 50% |
Execution | NDD, Market | NDD, Market | NDD, Market |
Margin call / Stop out | 25/15 | 25/15 | 25/15 |
Forex CFDs | 36 currency pairs | 36 currency pairs | 36 currency pairs |
More CFDs | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares |
Advantages | Disadvantages |
MetaTrader 4 (MT4) platform available | No proprietary platform |
MetaTrader 5 (MT5) platform available | No cTrader platform available |
WebTrader platform available |
FX Choice offers three popular trading platforms to its clients: MT4, MT5, and WebTrader. The MetaTrader platforms are well-known for their advanced charting capabilities and algorithmic trading options, making them ideal for both novice and experienced traders. The WebTrader platform is a browser-based platform that allows traders to access their accounts from anywhere without the need for downloading any software. However, FX Choice does not have its own proprietary platform, which may be a disadvantage for traders who prefer a more customized trading experience. Additionally, the absence of the cTrader platform may be a drawback for traders who prefer this platform for its advanced charting and order execution features. Overall, the availability of the popular MetaTrader platforms and a browser-based WebTrader platform provides traders with flexibility and accessibility to trade from various devices.
Advantages | Disadvantages |
Allows for higher potential profits with smaller initial investment | Higher leverage increases risk of large losses |
Greater flexibility in trading strategies and positions | Can lead to overtrading and poor risk management |
Enables traders to access larger markets with limited capital | Inexperienced traders may be tempted to use high leverage without understanding the risks |
Can increase trading volume and potential returns | Market volatility can quickly wipe out an account with high leverage |
FX Choice offers maximum leverage of up to 1:1000 for Optimum account and 1:200 for Classic and Pro account, which allows traders to open larger positions with a smaller amount of capital. This can be advantageous for traders who have a good understanding of risk management and use leverage wisely to maximize their trading opportunities. However, high leverage can also lead to large losses if traders do not use it responsibly. It is important for traders to understand the risks involved and have a solid trading plan in place when using high leverage. Additionally, traders should always consider the market conditions and volatility before using high leverage in their trades.
Advantages | Disadvantages |
Multiple deposit and withdrawal options | Some deposit/withdrawal methods may not be available in certain countries |
15% deposit bonus available | Withdrawal fees may apply |
Cryptocurrency deposits and withdrawals available | Bonus terms and conditions may apply |
Fast processing time for most payment methods |
FX Choice offers clients a wide range of deposit and withdrawal options, including cryptocurrencies, Visa, Mastercard, Skrill, Neteller, and many more. The 15% deposit bonus is also an attractive feature for new clients. However, some payment methods may not be available in certain countries and withdrawal fees may apply. It's also important to note that bonus terms and conditions may apply. In general, FX Choice aims to process payments quickly, which is a positive aspect for clients looking for a fast and efficient payment system.
Advantages | Disadvantages |
A wide range of educational resources including market signals, autotrade, copy trading, VPS, news, trading signals, and EA | Limited educational materials for beginners |
Access to professional trading tools | Some resources may require additional fees or commissions |
Customizable tools to meet individual needs and preferences | |
Opportunity to learn from experienced traders |
FX Choice offers a variety of educational resources that cater to the needs of traders at different levels of experience. The platform provides a range of professional trading tools that traders can use to improve their skills and knowledge. The educational resources available include market signals, autotrade, copy trading, VPS, news, trading signals, and EA. These resources are customizable, allowing traders to tailor them to their individual needs and preferences. Additionally, traders can learn from experienced traders by using the platform's copy trading features. While FX Choice offers a wide range of educational resources, there may be limited materials for beginners, and some resources may require additional fees or commissions. Overall, the platform offers a strong set of educational resources for traders looking to improve their trading skills and knowledge.
Advantages | Disadvantages |
24/5 customer service available | No 24/7 customer service available |
Support in multiple languages | No local phone numbers for some countries |
Various contact methods available | No physical office for some regions |
Quick response time through live chat and phone | Limited information on the website about customer service protocols |
Call back service available |
FX Choice offers 24/5 customer service to its clients, providing support in multiple languages through various channels such as email, phone, live chat and call back service. The quick response time through live chat and phone is an advantage, ensuring that clients can get their issues resolved promptly. However, the lack of 24/7 customer service and local phone numbers for some countries could be a disadvantage for clients in those regions. While FX Choice has a physical office, it may not be accessible to some clients. The website could also provide more information about the customer service protocols in place to manage clients' issues. Overall, FX Choice's customer care dimension provides a good level of support to its clients.
FX Choice is a well-established online trading platform that provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. The platform offers multiple account types, educational resources, and 24/5 customer support in various languages. It also provides various deposit and withdrawal options, making it easy for traders to manage their funds. One of the most significant advantages of FX Choice is the availability of the MetaTrader platform, which is a popular and user-friendly platform used by many traders worldwide. While there are some disadvantages, such as the limited availability of some services, FX Choice remains a reputable and reliable platform for both beginner and experienced traders looking to trade various financial instruments. Overall, with its comprehensive trading features, customer support, and user-friendly platform, FX Choice is an attractive choice for traders looking for a reliable online trading platform.
Question: What is FX Choice?
Answer: FX Choice is an online forex and CFD broker that offers trading services to retail and institutional clients.
Question: What types of accounts does FX Choice offer?
Answer: FX Choice offers three types of accounts: Classic, Optimum, and Pro.
Question: What is the minimum deposit to open an account with FX Choice?
Answer: The minimum deposit to open a Classic account is USD 100, while the minimum deposit for an Optimum account is USD 10, and for a Pro account, it is USD 100.
Question: What is the maximum leverage offered by FX Choice?
Answer: FX Choice offers leverage up to 1:1000 for Optimum account and 1:200 for Classic and Pro accounts.
Question: What trading platforms are available at FX Choice?
Answer: FX Choice offers the popular trading platforms MT4, MT5, and WebTrader.
Question: What are the deposit and withdrawal methods available at FX Choice?
Answer: FX Choice offers various deposit and withdrawal methods, including credit cards, e-wallets, bank transfers, and cryptocurrencies.
Question: Does FX Choice offer educational resources for traders?
Answer: Yes, FX Choice provides educational resources such as market signals, autotrade, copy trading, VPS, news, trading signals, and EA.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fxdd and fx-choice are, we first considered common fees for standard accounts. On fxdd, the average spread for the EUR/USD currency pair is -- pips, while on fx-choice the spread is from 0 .
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fxdd is regulated by MFSA. fx-choice is regulated by FSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fxdd provides trading platform including -- and trading variety including --. fx-choice provides trading platform including Pro,Classic,Optimum and trading variety including 36 currency pairs; Indices, Metals, Commodities, Energies, Cryptocurrencies.