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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

FXDD

Malta|5-10 years|
MT4 Full License|Regional Brokers|High potential risk|

https://www.fxddtrading.com/bm/en

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

FXDD-MT4 Live Server 8

United States
MT4
11

Influence

B

Influence index NO.1

Japan 6.71
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

11
Server Name
FXDD-MT4 Live Server 8 MT4
Server Location United States

Influence

Influence

B

Influence index NO.1

Japan 6.71

Surpassed 50.54% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+1 (212) 720-7200
support@fxddtrading.com
https://www.fxddtrading.com/bm/en
FXDD Trading, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
FXDD
INGOT BROKERS
OctaFX

Contact number

English

+1 (212) 720-7200

Broker Information

More

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-04-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 31 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Unable to Withdraw

Is the FXDD real?

Is this system true? It was said before that the participation in the event was over. I refused to withdraw the coin. Now I say that it cannot be recharged and needs to recharge 40,000. Now there are nearly 500,000 in the account.

2021-11-15 19:03
Others

The platform has an error, but does not admit it

Last Friday, June 10, 2022, I found out that the FXDD platform showed that the selling inventory fee of Aomei was 173 US dollars, and the buying inventory fee was -5 US dollars. Take the overnight inventory fee. June 13, 2022 is this Monday, I sold all the up and down orders in Australia and the United States, with a profit of $769.54. At the same time, it was found that the trading varieties on the platform on the 13th showed that the selling inventory fee was more than 177 US dollars, so I continued to buy and sell Australia and the United States to hedge their holdings. But that night, it was discovered that the platform had cancelled the inventory fee. I hurriedly contacted the agent, and was told that it was a system settlement error and an accident, but I had to bear the loss myself. Because FXDD has handling fees and spreads, there is no inventory fee, causing me to lose thousands of dollars. This situation is clearly caused by a mistake on the platform, otherwise I would not have carried out the operation of Australia and the United States. I went to the platform agent to investigate the loss, and the platform agent said that it would be good if I didn't pursue my profit on Friday, which was very annoying! I hope that through the eyes of the sky can help me stretch kilometers and justice, and help me recover my losses! In addition, it was added that FXDD had multiple chucks, which also resulted in losses.

2022-06-14 07:57

    Total Margin Trend

    • VPS Region
    • User
    • Products
    • Closing time
    • Dubai
    • 334***
    • EURUSDp
    • 07-12 04:10:08
    • Frankfurt
    • 895***
    • EURUSDp
    • 07-12 04:15:37
    • Dubai
    • 172***
    • EURUSDp
    • 07-11 16:10:49

    Stop Out

    2.69%

    Stop Out Symbol Distribution

    6 months

    FXDD · Company Summary

    Risk Warning

    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.

    General Information

    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

    What is FXDD?

    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.

    FXDD's home page

    Pros & Cons

    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.

    FXDD Alternative Brokers

      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.

    Is FXDD Safe or Scam?

    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.

    Market Instruments

    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.

    Accounts

    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.

    Account Types

    Leverage

    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 & Commissions

    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.

    Standard spreads
    ECN spreads

    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.

    Trading Platforms

    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.

    MT4/5
    WebTrader/Mobile App
    platform comparision

    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

    Deposits & Withdrawals

    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.

    Deposits & Withdrawals

    FXDD minimum deposit vs other brokers

    FXDD Most other
    Minimum Deposit N/A $100

    Fees

    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

    Trading Hours

    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.

    Customer Service

    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.

    Customer Service

    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.

    Education

    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.

    Education

    User Exposure on WikiFX

    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.

    User Exposure on WikiFX

    Conclusion

    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.

    Frequently Asked Questions (FAQs)

    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.

    News

    FXDD CELEBRATES 20 YEARS IN THE FINANCIAL INDUSTRY

    NewsFXDD CELEBRATES 20 YEARS IN THE FINANCIAL INDUSTRY

    2022-10-13 12:05

    Leading brokerage firm, FXDD, is celebrating 20 years of providing cutting-edge services to financial market participants. This is a remarkable achievement, given that the retail trading industry is still relatively new. FXDD has stood the test of time, witnessing numerous service providers come and go over the past two decades. The ability to not just survive but thrive over the years is a testament to the company’s commitment to anticipate and innovate to meet the expectations of its clients.

    WikiFX
    2022-10-13 12:05
    News
    FXDD CELEBRATES 20 YEARS IN THE FINANCIAL INDUSTRY
    WIKIFX REPORT: FXDD LAUNCHES TRUE MULTI ASSET OFFERING ON MT5 TO COMBINE FX WITH WALL STREET

    NewsWIKIFX REPORT: FXDD LAUNCHES TRUE MULTI ASSET OFFERING ON MT5 TO COMBINE FX WITH WALL STREET

    2022-06-22 14:22

    As Millennials and Generation Z now make up the majority of traders, with much greater emphasis on diversification, pure FX platforms are becoming an endangered species.

    WikiFX
    2022-06-22 14:22
    News
    WIKIFX REPORT: FXDD LAUNCHES TRUE MULTI ASSET OFFERING ON MT5 TO COMBINE FX WITH WALL STREET
    FXDD Parent Posts $5.1M as Q4 2021 Revenue, Losses Deepen

    NewsFXDD Parent Posts $5.1M as Q4 2021 Revenue, Losses Deepen

    2022-02-16 15:20

    The company ended the quarter with $1.94 million as a net loss. It gained stakes in several companies last year.

    WikiFX
    2022-02-16 15:20
    News
    FXDD Parent Posts $5.1M as Q4 2021 Revenue, Losses Deepen
    FXDD Parent Reports Marginal Gain in Q2 Revenue, Ends in Loss

    NewsFXDD Parent Reports Marginal Gain in Q2 Revenue, Ends in Loss

    2021-08-18 10:39

    The slight revenue gain came from the company’s crypto-fiat conversion services.

    WikiFX
    2021-08-18 10:39
    News
    FXDD Parent Reports Marginal Gain in Q2 Revenue, Ends in Loss

    User Reviews

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    Comments

    Write a review

    Jimmy Manuluck
    more than one year
    Honestly, my one issue is when you withdraw money it is not quick, often it takes several days to be received and it never comes back in one go. I always receive the draw down in several small payments which are received over several days.
    2023-02-28 13:43
    Reply
    0
    0
    FX1229335420
    more than one year
    They called me claiming to be an account manager. When asked to remove me from their contact list they keep asking why and continue to prolong the unnecessary dialogue. Every negative review sounds similar and I wouldn't even invest $100 with these guys.
    2023-02-15 16:47
    Reply
    0
    0
    Mark29352
    more than one year
    A suspicious clone broker. Trading with them will be dangerous and no safety guarantee. Stay away from these unregulated brokers. Don’t waste your time on them.
    2022-11-25 16:11
    Reply
    0
    0
    守望者71165
    more than one year
    Another clone forex brokers popping up to defraud investors, happen to find its official website cannot be entered into… Don’t waste your time or money here, very unworthy🙂
    2022-11-25 13:44
    Reply
    0
    0
    王彦博
    more than one year
    FXDD is a complete forex scam. After trading and making a few profits, you happily prepare to withdraw to treat yourself, only to be told that for some reason you need to invest more money to withdraw...so you keep luring it to transfer funds, eventually declining your withdrawal .
    2022-11-21 18:04
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    0
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