Broker FXDD is known for its offers to provide mediation in the field of online trading. Chief among them is working on Forex, while it is promised that this type of activity will be as profitable and convenient as possible. In this review, you will learn about the registration of the company, its trade offers and reputation on the Internet.
Briefly about the broker
FXDD was registered in Malta exactly 20 years ago. In the local supervisory authority, control over the company is confirmed by an appropriate document. Despite the fact that MFSA is under European jurisdiction, it is very difficult to call this regulator authoritative.
Judging by the presence of Russian-language reviews on the network, the company is actively cooperating with players from the CIS countries. But she does not have the necessary documentation for this. At the same time, it cannot be found in the lists of warnings of world government agencies either, and it is impossible to assert anything. We have established the main thing: the company is regulated and provides its services absolutely legally.
How to register on fxdd.com?
To register a personal account with a broker, you need to visit its official website and go to the “Registration” section. There you will see a small field for entering information about yourself. You need to specify your full name, email address, as well as a security question (for two-step verification). After that, the company asks its customers to enter more detailed data and attach scans of documents to confirm their identity. This requirement is quite standard for intermediaries, so you should not look for a catch in it.
The final step in creating an FXDD client profile is to read the key documentation, which is provided exclusively in English. Study it carefully before confirming your intention to become part of the project.
When everything is ready, you can finally start loading the working terminal, replenish the deposit and start trading.
The fare for the company’s customers has an entrance ticket of $250. Spreads on it are from 1.3 points, leverage is extended to 1:200 (which is illegal), and there are only two base currencies to choose from: euro or dollar. There are no Islamic accounts, as well as commissions for transactions. The broker provides an opportunity to test your strength on a demo version of the trading terminal with built-in tools and allows you to use advisors.
The standard tariff, in turn, is divided into 3 types:
- for individuals;
- corporate (for companies);
- joint (involves the signing of an agreement between FXDD and the investor).
Trading conditions on all the above tariff plans are the same.
You can work with a broker when using currency pairs and metals. Operations are available for completion in the author’s platform of an intermediary company called Swordfish. This development resembles MT4, with some differences in the interface. You can see it in the screenshot:
It is important to note that FXDD has additional fees that apply to accounts where there has been no trading activity in the past 90 days. The commission is $30.
Depositing and withdrawing money
fxdd.com has a very small selection of available deposit and withdrawal methods:
- bank cards.
Transfers less than $100 are subject to an additional fee of $25. Of course, this is a huge value, which leaves beginners with almost no chance of profitable trading.
Comments about the company’s activities in the network are very different. Interestingly, most users point to its former glory and say that the broker’s conditions have deteriorated significantly recently:
It seems that only echoes of the past have remained from profitable trading with the FXDD broker. Today, the brand has almost completely lost the trust of customers.
Working with this company can be conditionally divided into pros and cons, according to the following factors:
|Availability of educational base||Huge withdrawal fees|
|No trading fees||Poor choice of deposit and withdrawal methods|
|Demo account||Lots of negative reviews|
As you can see, the company has more pluses, but the minuses are very significant and it is impossible to ignore them. Whether it is worth choosing this intermediary as your trading partner is up to you. But remember that all responsibility for the possible loss of funds will also have to be taken solely.