FXDD Review: Exploring Trading Conditions, Support and Much More
In the sea of shady brokers, it is always nice when you stumble upon a legitimate one. This is precisely the case with FXDD, which you will see in our FXDD Review.
Stick with us, and we will tell you everything about this award-winning broker. They have a compelling offer which might just be perfect for you, so let’s start.
Who Is FXDD?
FXDD is a forex broker part of Triton Capital Markets Ltd. group. They are based in two locations – Malta and Mauritius and have been in the business since 2002. In this period, they built a name for themselves and won numerous awards for their services, including the Most Transparent Broker in Europe for 2022.
|Legal name:||Triton Capital Markets Ltd.|
|Regulation:||Yes (MFSA, FSC)|
|Registered in:||Malta, Mauritius|
|Financial Authorities Warnings:||No warnings|
|Is withdrawal possible:||Yes|
|If Active on Social Media:||Facebook, Twitter, YouTube|
As mentioned, FXDD is registered in Malta and Mauritius and has licenses for both regions. It holds a Class 2 license from the Malta Financial Services Authority (MFSA) and is authorized to provide its services in the European Economic Area (EAA) by the EU’s MiFID II.
Their other regulation is from the Financial Services Commission (FSC) in Mauritius. Although this license is great, the MFSA one is better for clients as it imposes stricter (EU) regulations.
|Trading platforms:||MT4, MT5, WebTrader|
|Financial Instruments On Offer:||Forex (EUR/USD, GBP/USD, etc.)
Metals (gold, silver, and copper)
Energies (WTI Oil, Brent Oil, and natural gas)
Indices (ESP.35, GER.30, FRA.40, etc.)
Stocks (Apple, Facebook, Amazon, etc.)
|Maximum leverage:||1:30 (Retail)
|Education or Extra tools:||Yes|
FXDD Reviews: Examining User Opinions and Feedback
An integral part of our reviews is the experience of people who interacted with a particular broker, and this FXDD Review is no different.
One satisfied customer praised FXDD and said “FXDD is very professional, reliable, and responsive. Deposits and withdrawals are very easy and fast.”
There were also some mixed reviews. One American client had this to say: “I had so many problems with them in so many ways. They did process my first and last withdrawal quickly.”
There was some criticism of FXDD, but it dates from long ago. Trusted websites like Forex-ratings.com gave it five stars, and Forexbrokers.com graded them with a four.
FXDD Broker Deposits and Withdrawal Methods
Funding your account is free of charge, and you can use several methods to do so. Those include:
- Bank deposit
- Credit or debit cards
- Union Pay
Conversely, withdrawals come with some fees. You can get your money using the same methods and have only one free withdrawal per month. Others have a $40 fee attached to them, and FXDD charges them to you for every withdrawal.
You also have a $100 wire transfer fee, and you must pay an additional $25 if you take out less than $100.
FXDD Account Types
FXDD offers only two account types to its clients – Standard and ECN. FXDD minimum deposit for each is $1, and the maximum leverage is 1:30 (Retail) and 1:100 (Pro).
You do not pay any commission per trade with the Standard account, but FXDD charges some withdrawal fees. On the other hand, the ECN account comes with small fees per trade, and those include:
- $0.0299 per $1k/$10k for common currency pairs and
- $0.0499 per $1k/$10k for less common ones.
When you want to open an account, you will first need to choose either the Malta or Mauritius account. Both options offer segregated accounts, which means your money is stored separately from the company’s funds.
FXDD Demo Account
FXDD also offers a demo account, so you can try risk-free trading before jumping in with a live trading account. With this account, you can access all three of their platforms, and you do not need any ID to open it, unlike live trading accounts.
FXDD Trading Platforms Overview
This broker gives its clients several options to choose from. They can opt for the industry standard MetaTrader 4 and MetaTrader 5 platforms or try FXDD’s proprietary WebTrader.
All platforms are available for Windows, Mac, iOS and Android. You can trade a bevy of instruments, there is an automated trading option, the stop out is at 50%, and the average spread is 0.2. Out of the three, only the WebTrader comes with a small fee.
FXDD MetaTrader 4
FXDD MT 4 has been an industry standard for years. It is beloved in the trading community due to its diversity of features and ease of use, making it a viable option for both novices and trading veterans.
FXDD also has a mobile app. The broker claims it has over 180 technical indicators, cloud-based alerts, automated trading, and more. FXDD created this app to make trading accessible to its clients wherever they are.
FXDD Bonus System and Promotions
FXDD does not offer bonuses as it has an MFSA license and is part of the EU regulatory framework. ESMA banned bonuses as a safety measure since fraudsters can use them to lure unsuspecting traders into scams.
FXDD Affiliate Program
However, you get a chance to partner with FXDD and use their expertise to your benefit. They have an affiliate program that allows you to access FXDD’s technology and “experience maximum up-time and ultra-low latency.”
In this program, you can earn lucrative management and performance fees, allocate lots to clients, monitor your commissions and much more.
Who Is FXDD Recommended For?
FXDD is a good choice for both novices and experienced traders. They offer a quality platform suite, many different trading instruments and charge reasonable commissions for certain services. Therefore, if you are looking for a budget-friendly broker that does not ask for a fortune to deal with them, FXDD is a good choice.
FXDD Pros and Cons
There are many good things we can say about FXDD. The most important one is that it has a trustworthy regulator. The broker also offers great platforms, trading conditions and tools like the FXDD calculator, FXDD economic calendar, and many others.
However, there are things that they lack. Cryptocurrency is becoming ever more popular, and it would be nice if you could fund your account with Bitcoin or other crypto. Moreover, while some of their fees are not huge, others make quite a dent in your wallet.
Author’s Expert Opinion on FXDD
Having come to the end of our FXDD Review, we can conclude that this broker is a nice choice for many traders. However, there is no one-size-fits-all situation in forex trading, and while FXDD might be great for some, it might not be for you. So if you need help choosing the right broker that fits your trading style and preferences, contact us today!
Is FXDD a good broker?
Yes, FXDD is a good broker. It is regulated and has a balanced offer, which makes investing with them a good business decision.
Where is FXDD located?
FXDD is registered in two locations. One is in Malta, and the other one is in Mauritius.
What is the inactivity fee for FXDD?
FXDD charges a $30 inactivity fee. This broker charges this amount if they do not see any trading activity from you for 90 days.
How long does FXDD withdrawal take?
We could not find the exact time it takes to get your money. However, some testimonials said withdrawals were easy and fast.