Broker FXDD has been registered in Malta in 2002. Headquartered in New York, and the activity of company is regulated by such organizations as the United States NFA, MFSA Malta. Regular availability of liquidity enables customers to carry out transactions with the best conditions and low spreads. FXDD provides traders a number of trading platforms to choose from: MetaTrader 4, MTXtreme, MetaTrader 5, FXDD Trader. Working with such a reliable partner gives customers confidence in their results and guarantee assistance from the broker - this is confirmed by a lot of positive reviews about the company.
Now for more In-depth Information
|Min. Position Size, lot:||0.01|
|Min. Account Size, $:||250|
|Payment Options:||WebMoney, Neteller, Bank Wire Transfer, Visa \ MasterCard|
|Demo Platforms:||MetaTrader 4|
|Account Currency:||USD, EUR, GBP, AUD, CAD, CHF, DKK, JPY, NZD, PLN, SGD, CCK, HKD, HUF, MXN, NOK, SEK, TRY, ZAR, HRK, XAU, XAG, RUB|
|Website Languages:||English, Spanish, German, Portuguese, French, Arabic, Japanese, Chinese, Czech, Italian|
|Support Languages:||English, Spanish, Russian, German, Portuguese, French, Arabic, Japanese, Chinese, Czech, Italian|
|Support Methods:||Callback, Phone, Email, Live chat|
|Trading Server Timezone:||GMT|
|VPS for Traders:||Trade with FXDDCloud Today Email email@example.com using the subject line “VPS” to get started.|
For those individuals and business entities that trade on the foreign currency exchange market, FXDD Global provides several educational resources and trading platforms along with services to make trading as easy as possible. Because there are many Forex brokerage firms out there, it is recommended to become familiar with one before signing up. This article reviews FXDD in full along with a brief outline of their history and the services they provide to their customers.
Who They Are
With its main headquarters in Malta, FXDD is a center for Forex type trading as well as global finance. This organization aims to provide solutions to individuals, institutions, white labels, money managers, hedge funds, and introducing brokers. Likewise, their trading solutions are tailored specially for each trader’s strategies and needs. As a worldwide operation in the foreign exchange trade industry, FXDD claims to developed premium tools at a rate that surpasses other brokerage firms. In addition to trading tools, their offerings and technologies enable investors to get the most out of the Forex market. Of course, this is what you can see with most brokers. They to offer as many tools and services as they can to become able to compete and stand out of the crowd.
Founded in 2002, FXDD provides updated streaming prices to be used by its customers in no fewer than 33 spot trading pairs. Hence, its traders can execute trades in the spot foreign exchange, precious metals, and commodities markets using the FXDD trading platforms for hedging purposes or speculation in changes in prices. Through granting bid offer spreads to their traders, FXDD can capture this spread. In fact, the majority of the firm’s earnings are made through capturing the difference embedded in the spreads.
In order to serve their client base on a professional level as well as expand it, they have created a suite of products that are attractive to each specific category of traders. Included in these products is their Power Trade (multi-bank ECN) platform which is best suited for their professional and institutional clients. Additionally, there is Mirror Trader which grants automation to numerous trading systems catering to the highly driven retail-based customers. FXDD stands out as one of the few FX trading platforms that can offer a great selection of options.
Meanwhile, this firm is continuously growing their market share by establishing white label partnerships. Also, they have been successful at integrating third-party front-end trading systems as well as making successful retail trading solutions happen for introducing brokers, broker dealers, FCMs, and other institution-leveled businesses. Towards the beginning of 2012, FXDD established an IT service subsidiary that implemented end-to-end white label solutions made especially for its retail platforms.
These institutional solutions offer the following perks:
- Eliminates research and development costs imposed on its partner.
- Creates the possibility of earning income and revenue in as little as one day.
- FXDD supplies technological expertise and operational logistics to ensure the partner makes the most of its resources.
- Reduces implementation time to 45-60 days based on the partner’s size and requirements.
- FXDD accepts work outsourced by its partners such as functionality or most or all of their back-office processing.
- Eliminates the need for its partner to secure its own liquidity or take on risks by granting them with necessary liquidity.
- Protects the partner’s clients against negative equity caused by trading.
- Provides scalable solutions that are based on tens of thousands of traders.
From 2008 to 2012 FXDD acquired a great number of milestones and won several awards as it:
- Won the Best Arabic Platform at the Middle East Money Summit Awards (2008).
- Opened up a new location in the 7 World Trade Center (2009).
- Received principle approval to establish its EU operation by Multi Financial Services Authority (MFSA) (2009).
- Attained licensing from MFSA (2010).
- Granted institutional trading and pricing to its customers (2010).
- Won six Traders Choice Awards including Best Overall FX Broker (2010).
- Joined Dukascopy Bank SA in white label partnership (2011).
- Offered its clients euro-based accounts (2011).
- Purchased Irish Institutional Broker Frontier FX (2011).
- Won Most Transparent FX Broker at Middle East Forex and Investment Summit (2011).
- Won Most Trusted Forex Broker Europe and Best New Platform awards at Global Banking and Finance Review (2012).
- Won Best Broker US and Best Trade Executions from World Finance (2012).
- Announced ISDA membership (2012).
Target Market & Objectives
FXDD’s mission statement is as follows: To empower individual online traders by delivering innovated new technology backed by world-class support.
This firm enables clients to access the online spot FX market for institutional and retails traders. They strive to give customers premium service through:
- Pricing spreads that reflect on 33 currency pairs and are highly competitive.
- Various ultimate trading platforms (currently 7 platforms).
- Offering precious metals as part of their trade products.
- Customer support staff speaking in 13 different languages.
- Offering resolutions for issues on fair trade.
- Dedication for ongoing consumer education.
With these benefits in mind, their sales staff can effectively convert a large volume of leads into clients. Likewise, they successfully raise the amount of satisfied customers and convert mid-term into long-term account holders. Also, FXDD aims to expand its total product portfolio plus continuously seek a greater market niche which includes reaching into the FX forwards and options market.
Presently, 20% of all FXDD’s traders are domestic (US) while the remaining 80% are offshore. However, the percentage of foreign investors is likely to grow due to the addition of highly prosperous introducing brokers (Ib’s) from other countries. FXDD is acquiring a growing market share in Southeast Asian and other areas possessing a huge concentration of customer pools. Such areas are Japan, Latin America, and Russia. Hence, FXDD can grow its customer base and introduce their brand into new territories as a result of tapping into these markets.
Also, FXDD has created dealing operations in numerous financial centers in order to suit a growing offshore customer base. Such a practice is standard among businesses from the sector plus many other retail-based financial institutions. FXDD has also founded operational centers in Europe and Southeast Asia and plans to reach out to more locations in the future.
Opening an FXDD Account
Applying for an individual, joint, or corporate account is easy. Those who apply online can begin trading the very same day. The application process involves four steps:
- Fill out an application online or print out a paper form to fax or mail in. Applications must be mailed to their Malta address in Europe, as listed on their website.
- Two forms of ID and a copy of a recent utility bill must be provided. Non-US residents must furnish additional info as a copy of a driver’s license, passport, a bank statement (from a recognized bank), and a Government-issued document containing their address of residency.
- A copy of the customer agreement that is read and signed by the applicant.
- A deposit of funds into their account.
If you lack experience in trading or haven’t done it in a long time, it is best that you start out with a free Forex demo account. As you do, you can try out a no-risk platform, the MetaTrader 4, right away, at no cost to you. However, if you are a confident and experienced trader, you may open a live account. As for skill level, strategy, or trading size, there are no minimal requirements. Likewise, there are no application fees or hidden costs and the application process is simple, speedy, and secure.
One of the most common questions potential clients ask: How much do you need to open an account with FXDD? Actually, there is no minimum although they suggest that you start out with at least $250 USD. However, the requirements for joint or business accounts may vary.
Recently, there has been a change: FXDD US no longer accepts applications from US traders and thus, will be redirected to FXDD Global’s site.
Platforms Offered By FXDD
Apparently, not all clients like to trade on the same platform. Therefore, FXDD offers several platforms to cater to the likes of traders around the world. Five of them include:
- MetaTrader 4 – Available for iOS and Windows Mobile devices, it is fast and secure plus offers competitive spreads. With its great backwards compatibility, it can be ran on computers with Windows 2000 or later.
- Swordfish – As a proprietary platform of FXDD, it provides speedy processing of trades with an improved interface that is customized to traders’ needs.
- Mobile Apps – By using FXDD’s mobile software, clients can execute trades through mobile devices as tablets, Androids, and iPhones. Offering seamless interaction with desktop accounts, traders are able to place orders and execute them securely and at great speed.
- MTXtreme – Having highly competitive multi-bank pricing, this platform also has the functionality and dependability of MetaTrader 4.
Power Trader – With its in-depth ability to monitor the market, it is able to obtain pricing from eight of the world’s largest banks.
And, if there are times you would like to trade but can’t, FXDD can also offer automated trading platforms as:
- Mirror Trader – By using this platform, you have dozens of hand-selected strategies to choose from. You may execute them manually, automatically, or semi-automatically, all with no additional spread mark-up.
- ZuluTrade – With as little as $250, ZuluTrade enables you to start trading. You can build an automated platform by selecting signal providers using its in-depth performance metrics.
- Signal Trader – Rather than using equations and algorithms, Signal Trader operates via a team of trusted individuals to provide buy and sell signals.
No matter what type of trader you are, you want your information stored in a place where it will be safe and sound. FXDDCloud is an extremely light platform packed with features that function 24/7, even after you’ve powered down your computer. It enables you to do the following:
- Obtain your trading data from any computer, even a public one, without the need to download it.
- Conduct Forex trading with your Mac.
- Use social media sites to interact with your FXDD trading activities.
- Ensure secure hosting of your EA’s and platforms 24 hours a day, six days a week.
- Keep your MetaTrader 4 trader stops safe.
- Streamline communication with a built-in feature for chatting.
- Operate several strategies simultaneously with reduced latency.
- View the most recent ForexLive information.
However, there are terms and conditions to abide by when using FXDDCloud. This service costs $30 as this fee is charged on the first business day of each month. Hence, you must be sure that your account has adequate funds to prevent suspension of your Services and/or Maintenance Services.
Educational Resources Offered By FXDD
FXDD has available a great number of educational resources on its website. Whether you’re a client or not, you can still access many of them for free. They can be found in the title bar selection: FOREX RESOURCES.
First, we’ll start out with the free download guides. Here are five examples:
- Getting Started in Forex – Whether you’re just learning about Forex or want to expand your comprehension of the basics, this guide covers subjects as market hours, margins, leverage, technical analysis, and a variety of more subjects.
- Currency Pairs Guide – This guide describes in-depth each type of currency Forex entails. It is sectioned off by major, cross, commodity, and emerging market pairs to give you an overall view of the differences and the pros of trading each pair.
- Options Education – With the use of trading options, you can handle your trading risks quite well. Because investors are not well educated about the market, some never consider trading options. This comprehensive options guide will help you overcome this barrier as it acquaints you with them.
- Bearish Options Strategies – In this guide you’ll find 11 strategies all levels of traders can use to become profitable on plummeting exchange rates and in declining markets.
- Introduction to Greeks Options – By using Greek calculations, traders have more insights on options trading. Calculations that optimize modern trading are rho, psi, theta, vega, gamma, and delta. You can make the most of your trading by learning about them in this guide.
Each guide has easy-to-read content and concludes with simple quizzes.
Additionally, FXDD offers what they call the Learning Center. It contains material that site visitors can read and videos they can watch. In this section is a large variety of learning materials that will teach you everything starting with the basics of Forex and progressing to advanced subjects such as major market indicators. There are no time limitations as these students can study at their own pace. Also, students are free to contact customer support if they have questions in the learning material.
If you prefer to learn by watching videos, you can visit their YouTube channel. Currently, this site has over 100 videos in the following areas:
- Introduction to Forex
- Ask FXDD
- MetaTrader 4 Education
- MirrorTrader Education
- Swordfish Education
- VikingTrader Education
- PowerTrader Education
- Weekly Market Updates and Analysis
- Industry Interviews
Their introductory video explains reasons why students should subscribe to their channel. As a subscriber, you will receive emails on each new video as it is released. As their market leaders present automated charts, they can answer your questions during their presentations.
How to Contact FXDD
Customer support is available 24 hours a day starting Sunday at 5:00 PM to Friday 4:00 PM EST. Although your account is managed by FXDD Global in Malta and regulated by the MFSA, you are likely to be directed to a representative in New York. To provide you with top-notch service for your worldwide trading needs, specific actions will be routed through the New York office as withdrawals and deposits, customer support and technical support issues, and maintenance of the server that processes your trades.
You can contact them via phone, fax, email, or by sending correspondence to their physical mailing address in Malta. All contact information can be found on their site in the ABOUT FXDD / Contact Us section.