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FXDD

Mauritius|2-5 years|
White label MT4|Regional Brokers|High potential risk|

https://www.fxddmauritius.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

10
Server Name
FXDDMauritius-MT4 Demo Server MT4
Server Location United States

Contact

+230 5 869 0015
support@fxdd.mu
https://www.fxddmauritius.com/
C/o Axis Feduciary Ltd., 2nd Floor, The Axis, 26 Bank Street, Cybercity, Ebene 72201, Mauritius

Licenses

No valid regulatory information, please be aware of the risk!

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

Single Core

1G

40G

Open Now

Contact number

English

+230 5 869 0015

Broker Information

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Company Name

FXDD Mauritius Ltd

Company Abbreviation

FXDD

Platform registered country and region

Mauritius

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-06-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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FXDD · WikiFX Survey

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FXDD · Company Summary

Company Name FXDD
Headquarters Mauritius
Regulations No License
Market Instruments Forex, Metals, Energies, Stocks, Indices, Cryptocurrencies
Account Types Standard, Premium
Leverage Up to 1:500
Spread USD/JPY pair spread of 0.5 pips For the GBP/USD pair, the spread sits slightly higher, at 0.6 pips.
Commission Fee
Minimum Deposit $200 (both Standard and Premium accounts)
Deposit/Withdrawal Methods Visa, MasterCard, Neteller, UnionPay, and Bank Transfer
Trading Platforms MetaTrader 4, MetaTrader 5, FXDD WebTrader, FXDD Mobile
Customer Support Phone number: +1 (212)720-7200, Email:support@fxddtrading.com
Educational Resources Demo Account Available

Overview of FXDD

FXDD is a forex broker headquartered in Mauritius, providing a range of trading services that cater to different types of traders. The company boasts two kinds of accounts, the Standard and Premium, each designed to accommodate a specific type of investor. Standard accounts offer low spreads and no commissions, making it ideal for newer traders, whereas Premium accounts allow access to direct raw spreads at a minimal commission fee. Notable is their commitment to competitive pricing, offering incredibly low spreads on major currency pairs such as USD/JPY, EUR/USD, and GBP/USD.

Furthermore, FXDD hosts a variety of user-friendly trading platforms, including the globally recognized MetaTrader 4 and MetaTrader 5. Additionally, they have developed their proprietary platforms, the FXDD WebTrader for advanced users seeking swift execution and tight pricing, and FXDD Mobile, catering to traders who wish to stay updated on the go. FXDD offers competitive spreads on various currency pairs with leverage as 1:500.

Overview of FXDD

Is FXDD legit or a scam?

FXDD currently does not hold any license or proof of compliance with regulation or financial authority. The absence of a license for a broker like FXDD significantly affects the level of trust and confidence that traders may have in the institution. Being licensed, regulated, and overseen by a recognized financial authority ensures that the broker adheres to stringent regulatory measures designed to protect traders. Without a license, there is uncertainty about the broker's integrity, transparency, and accountability.

Traders may also question the safety of their funds, especially in instances of financial discrepancies or disputes, as there may be no assurance of recourse in case the broker acts unlawfully or goes bankrupt. Moreover, unlicensed brokers may not provide the high level of trader protection that regulated brokers do, which may include compensation schemes that guarantee the return of a trader's capital if the broker becomes insolvent. This situation may leave traders exposed to unnecessary financial risks.

Pros and Cons

FXDD offers a range of trading platforms and accounts catering to diverse trader preferences. Their access to a variety of market instruments, including Forex, metals, energies, stocks, indices, and cryptocurrencies, allows for a diversified trading portfolio. FXDD's low minimum deposit requirements and accessibility through both live and demo accounts make it welcoming to traders of various experience levels. The broker's emphasis on technology and charting tools, especially on the MetaTrader platforms, is a notable advantage. Lastly, the availability of mobile trading options ensures flexibility for traders on the move.

Limited educational resources may also be a drawback for beginners looking to improve their trading knowledge. The lack of specific information on regulatory oversight on their website may raise concerns for some traders, as transparency on this aspect is crucial. Additionally, while they offer a range of market instruments, the number of available cryptocurrency options for trading is relatively limited. Lastly, customer support may vary in terms of response times and availability depending on the specific channel chosen for contact.

Pros Cons
Range of trading platforms and accounts Potentially less competitive fee structure
Diverse market instruments accessible Limited educational resources
Low minimum deposit requirements Lack of specific regulatory information
Emphasis on technology and charting tools Limited cryptocurrency options
Mobile trading options for flexibility Varied customer support experiences

Market Instruments

FXDD offers a comprehensive array of market instruments that allow traders to explore various financial markets. In the Forex market, traders can participate in the largest decentralised financial market, with a daily volume exceeding a staggering $6.6 trillion. Metals and Energies add valuable options to trading portfolios. FXDD provides the opportunity to trade in precious metals such as Gold and Silver in both USD and EUR terms. Additionally, traders can engage in Copper, Platinum, and Palladium trading. Energy commodities, particularly crude oil, are known for their volatility and substantial intraday price swings, making them attractive options for traders.

FXDD offers a well-rounded selection of single-stock CFDs, including popular companies like Apple, Facebook, Amazon, and Tesla. Trading indices are also made accessible, allowing investors to access various global financial markets without the need to research individual stocks, effectively reducing overall risk while still participating in the diverse world of stock trading. Furthermore, FXDD recognizes the growing interest in cryptocurrencies, offering CFD trading options for assets like Bitcoin, Litecoin, and Ethereum, among others.

Account Types

FXDD offers two main types of accounts to its clients which are Standard and Premium Accounts. The Standard Account boasts low spreads and does not charge any commissions. This account type is designed to be accessible to a wide range of traders, offering currency denominations in USD, EUR, GBP, and JPY and accepting initial deposits from $200. The trading conditions also allow trading from 0.01 lots, with the platform being friendly to both Expert Advisors (EA) and scalpers. Standard accounts also offer the possibility of price improvements on limited orders, while ensuring no partial fills. This account type is available for individual and corporate entities, and a demo account option is also provided to facilitate practice trading.

On the other hand, the Premium Account is targeted towards more experienced traders who prefer direct access to raw spreads for a nominal commission fee. Besides the tightest spreads, this account also favourably supports scalping and EA usage. Denominations in USD, EUR, GBP, and JPY are available for trading, along with an initial deposit starting from $200 and trading from 0.01 lots. Similar to the standard account, premium accounts are also offered to both individuals and corporate clients. A demo version is also available for those who want to familiarise themselves with its features before committing any real funds. The choice between these two account types primarily depends on the trading preferences and level of experience of the clients, allowing for a tailored trading environment.

How to open an account in FXDD?

To open an account with FXDD, you can choose between a Live Account for real trading with actual funds or a Demo Account for practice trading with virtual funds. The process is straightforward and will ascertain your identification and suitability for investment.

How to open an account in FXDD?
  1. Visit the FXDD website and locate the account registration link.

  2. Supply the required personal information, which typically includes details such as your full name, date of birth, address, and contact number.

  3. Provide financial information, such as your employment status, income, investment knowledge and experience.

  4. Agree to the broker's terms and conditions after careful reading.

  5. Wait for account approval, which may include verification of documents you have submitted.

Spread and Leverage

XDD offers competitive spreads on various currency pairs. For the USD/JPY pair, the broker provides a very low spread of 0.5 pips with leverage up to 500:1. For the EUR/USD pair, which is one of the most traded currencies in the global market, FXDD offers an incredibly low spread of 0.3 pips, with the same leverage of up to 500:1. For the GBP/USD pair, the spread sits slightly higher, at 0.6 pips, but still maintains a high leverage of up to 500:1.

Commission Fees

FXDD imposes certain commissions and fees as part of its trading and account management policies. Notably, a $50 bank wire fee may apply for redemptions under $7,000, and this fee will be deducted from the trading account balance if available; otherwise, it will be deducted from the requested withdrawal amount. Moreover, clients should be aware of additional redemption charges, with a $40 fee per redemption for multiple redemptions from any of the client's accounts within the same calendar month. There is also a minimum redemption amount for wire transfers set at $100, and for amounts lower than this threshold, an additional $25 fee is charged.

Additionally, FXDD enforces an inactivity administrative fee, which amounts to $30 and is applied to accounts with no trading activity occurring within 90 days. The inactivity fees vary based on the duration of inactivity, ranging from $40 for accounts inactive for less than one year to $70 for accounts inactive for over three years. It is advisable for clients to review and understand these fees to make informed decisions regarding their trading and account management activities.

Trading Platform

FXDD offers multiple trading platforms that cater to various levels of traders. The traditional and globally popular MetaTrader 4, often abbreviated as MT4, is an industry standard for foreign exchange and contracts for difference (CFD) trading. It comes with a highly customizable interface backed by an unrivalled charting package, providing all the tools needed to meet even the most demanding trading strategies. Following this is MetaTrader 5, the evolved version of the MT4 platform, which comes supplemented with advanced graphical charting tools, a compelling strategy tester, and a variety of pending orders. This makes MT5 a multi-asset platform that enhances and empowers your trading activity in every possible sense.

In addition to the MetaTrader suite, FXDD offers its proprietary platform known as FXDD WebTrader. This platform is the result of years of feedback from advanced users, aiming to provide optimal access to their Premium pricing. It boasts swift execution and tight pricing features, accessible anywhere with an internet connection and a web browser. For traders who are constantly on the move, FXDD offers the FXDD Mobile platform. This mobile platform offers a clean design, an easy-to-use interface, rocket-fast response times and integrated localization, making it a suitable choice for mobile trading. With FXDD Mobile, traders have constant access to Analyst Views from Trading Central, as well as a variety of global news sources, ensuring they stay informed at all times.

Deposit & Withdrawal

FXDD provides a variety of deposit and withdrawal methods, catering to the diverse needs of its clients. Traders can choose from an array of payment options, including Visa, MasterCard, Neteller, UnionPay, and Bank Transfer. This flexibility allows clients to select the method that aligns best with their preferences and geographical location. FXDD also prioritises convenience by ensuring that funds can be redeemed in the same manner they were initially received, simplifying the transaction process for their clientele.

Deposit & Withdrawal

Moreover, FXDD offers trading accounts in multiple major currencies, such as USD, GBP, EUR, and JPY, which can accommodate traders from different regions and backgrounds. For those depositing funds in local currencies, FXDD handles the conversion using current exchange rates, streamlining the process and making it accessible to a global audience. These various deposit and withdrawal options showcase the broker's commitment to providing a user-friendly experience for its traders while accommodating different financial preferences and locations.

Customer Support

FXDD offers comprehensive customer support designed to meet the diverse needs of both new and existing clients. Their multilingual customer service team is available 24/5, ensuring that clients from various parts of the world can reach out for assistance. For new customers, FXDD provides guidance and answers to questions related to the application process and funding their accounts, helping them confidently navigate the initial steps. Existing clients can also benefit from the extensive support, getting assistance with their queries at any time during the trading week.

FXDD's customer support is easily accessible through multiple channels, including phone, email, and Live Chat, allowing clients to choose the communication method that suits them best. The availability from Sunday at 5:05 PM to Friday at 4:55 PM EST ensures that clients can seek help during most trading hours. Additionally, their trading inquiry support is efficient, requiring clients to provide essential details to address their specific trade-related concerns.

Conclusion

FXDD is an established Forex broker based in Mauritius, known for its wide range of offerings to cater to the diverse needs of traders. The broker provides two main types of accounts - Standard and Premium, both offering competitive advantages such as low spreads and flexibility in currency options including USD, EUR, GBP, and JPY. A significant benefit of FXDD is the multiple platforms it offers for trading, encompassing the globally recognized MetaTrader 4 and 5, as well as their proprietary FXDD WebTrader and FXDD Mobile platforms. These platforms are designed to accommodate various trading styles and offer many features to assist traders, including advanced graphical charting tools, swift execution, and real-time market updates.

However, despite these advantages, potential clients should approach FXDD with caution. Concerns have been raised surrounding its regulatory status and transparency, which could potentially impact the safety of clients' funds. There are also considerations around the broker's fee structure, which includes charges for wire transfers, multiple redemptions within a month, and account inactivity. These can significantly influence trading costs and account management. Therefore, while FXDD does present a broad range of services, it is essential for potential investors to weigh these against the raised concerns when considering FXDD as their broker of choice.

FAQs

Q: Is FXDD regulated by any financial authority?

A: FXDD is not regulated by any financial authority.

Q: What market instruments can I trade with FXDD?

A: FXDD provides access to a diverse range of instruments, including Forex, metals, energies, stocks, indices, and cryptocurrencies.

Q: How can I contact customer support at FXDD?

A: You can reach FXDD's customer support through phone, email, or Live Chat, offering multiple channels for assistance.

Q: What trading platforms are available at FXDD?

A: FXDD offers popular platforms like MetaTrader 4 and MetaTrader 5, along with their proprietary FXDD WebTrader and mobile trading options.

Q: Can I trade cryptocurrency CFDs with FXDD?

A: Yes, FXDD offers the ability to trade cryptocurrency CFDs, including Bitcoin, Litecoin, and Ethereum, allowing you to participate in the cryptocurrency market.

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FX1419977080
more than one year
Upon visiting FXDD's website, I couldn't help but notice the overwhelmingly black color scheme. It struck me as quite odd and made it difficult to navigate the site. I found it quite unappealing and wished that they had used a more user-friendly design. It made me feel like the website wasn't well-maintained.
2023-03-24 15:32
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