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FXDD Europe FXDD Global Review

FXDD Europe Review & Comparison | FXDD Malta

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Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Average Spreads 
Mini $1 0.01 1:400 From 1.5 pips
Standard $500 0.1 1:400 From 1.5 pips
ECN $2 000 0.1 1:400 from 0.1 + $3 per lot (per side)

 

FXDD Global offers several basic account types. All of them offer variable spreads and maximum leverage up to 1:400. Micro accounts are available for novice traders solely on the MT4 platform, offering micro tradeable lots and commission-free trading. ECN environment is also available with this broker on its ECN accounts, accessible with investment of at least $2000.

 

The Company

 

Company

Country

Regulation

FXDD Malta Limited

Malta

MFSA

 

Headquartered in Malta, FXDD Global (also known as FXDD Europe) is a leading foreign exchange dealer that delivers innovative technologies. It offers trading in more than 20 currency pairs, indices, metals, and energy CFDs, as well as binary options on a myriad of trading platforms.

 

FXDD Global is a subsidiary of Currency Mountain Holdings, LLC - a New York based holding company with controlling interest in several brands within the foreign exchange trading industry. FXDD had a US unit, but voluntarily withdrawn its introducing broker (IB) license from the US National Futures Association (NFA) in 2015 and sold its retail client base to US giant FXCM.

 

The broker has also set up an offshore unit based in Bermuda, doing business as FXDD Trading.

 

Security of Funds

 

FXDD Malta Limited, doing business as FXDD Global, holds a Category 3 investment services license issued by the Malta Financial Services Authority (The MFSA), which allows them to provide any investment service, to hold clients’ money and to deal on own account.

 

MFSA is the single regulator for financial services in Malta and it applies certain rules and requirements to license holders. The MFSA also manages the Registry of Companies and responsibility as the Listing Authority.

 

Apart from the minimum capital requirement of €730,000, which should be satisfied on an ongoing basis, license holders are expected to have local presence, to put in place adequate internal controls for their day-to-day operations, to maintain a risk management system, regularly report to MFSA, among other requirements.

 

License holders are also required to abide by ESMA guidelines on the sale of complex products where online forex is specifically mentioned as a complex product. Malta has been a member of the European Union since 1st May 2004. So, every MFSA-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.

 

As a further guarantee to clients’ funds, FXDD Ltd., is a member of the Maltese Investor Compensation Scheme – a rescue fund for customers of failed investment firms which are licensed by MFSA.

 

Trading Conditions

 

Minimum Initial Deposit

There is no minimum initial deposit set for Micro accounts, so one may invest just $1. This is an attractive offer, yet, if you wish to benefit from the ECN offering of FXDD Global, you have to deposit at least $2000.

 

Average Spreads 

Standard & Micro accounts with FXDD Global are commission-free, yet the spreads on these accounts start at 1.5 pips for the EUR/USD pair, which is above the average in the industry.

 

FXDD Global`s ECN accounts, on the other hand, provide tight variable spreads, the typical ones amounting to around 0.3 pips. If we add the applicable commission of $6 per round-turn, the average trading costs of ECN account holders amount to around 0.9 pips for the EUR/USD pair, which is a really competitive pricing.

 

For purposes of comparison, leading EU broker FxPro charges $4.5 per lot and offers average spreads as low as 0.4 pips on the EUR/USD for its ECN accounts. For more information, you may look up real-time spreads of 15 leading brokers here.

 

Leverage

The maximum leverage with FXDD is 1:200, and 1:400 leverage is available based on meeting certain terms and conditions. 1:400 is considered a high leverage ratio, yet a number of brokers offer leverage of 1:500 or even higher. For example, FXPro also provides leverage up to 1:500.

 

Trading Platforms

 

FXDD Global offers its clients a wide range of trading platforms: MetaTrader 4, MTXtreme (also MT4 based), PowerTrader (Currenex), JForex (Dukascopy Bank's trading platform), Mirror Trader, as well as Tradency’s automated trading solution RoboX.

 

MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options. Traders can download ready-made or create their own EAs and let the program do all the work.

 

MTXtreme uses the popular MetaTrader 4 interface, and its commission-based pricing structure is more cost-effective for active traders. It’s perfect for high-frequency traders who are used to the MetaTrader Forex trading setup.

 

Designed especially for institutional and high volume traders, PowerTrader is FXDD’s version of Currenex, one of the deepest liquidity pools in the spot foreign exchange market. It offers very competitive inter-bank rates with ECN execution and allows clients to use FXDD liquidity with five of the world's major market makers.

 

In addition, FXDD Global supports JForex – a platform, designed for traders seeking manual or automated trading and/or developing and testing trading strategies based on the JAVA programming language. Some of the tools and features of the platform include 250 indicators and chart studies, calendar of economic events and news, automated trading with historical tester, advanced charting (including Renko, Range bars, Point & Figure and Line break charts).  In addition, a built-in cross-platform interface for the execution of custom strategies and programming code are provided. 

 

The broker also offers advanced automated trading solutions. It supports Mirror Trader, the popular retail automatic signal based trading platform. Besides, FXDD Global was also the forex broker to adopt Tradency’s automated trading solution RoboX in 2016. RoboX is a smart trading machine with a simple, comfortable and user-friendly interface that does not require any prior knowledge of forex trading. 

 

Methods of Payment

 

The following payment methods are available to FXDD clients: credit cards, bank wire transfer, Skrill, Neteller, and Safecharge Cashier.

 

Keep in mind that FXDD Global allows one free-of-charge withdrawal per month. Additional redemptions from any of the client’s account(s) during the same calendar month will result in a $30 charge per redemption.

 

Conclusion

 

FXDD Global is a reputable award-winning FX and CFD brokerage with many years of experience. It offers competitive conditions for trading on numerous trading platforms that cover all skill levels and styles. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
Well-regulated, part of large international group   High initial deposit for ECN account
Wide range of trading platforms offered  No PAMM & Islamic accounts
Low ECN spreads and overall cost of trading  
No minimum initial deposit required for Micro accounts  

   

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Price feed

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Deposit/Withdraw

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Summary

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