March 2012: There is a very serious issue going on between an FPA member and FXDD. It appears that FXDD is taking legal action against a trader and claiming that the trader somehow forced FXDD to accept prices that were not real. Click here to read about it. The FPA emailed FXDD about this issue on March 16th and is still awaiting a response.
This issue has resulted in a guilty verdict in the FPA Traders Court. Click here to see the case.
The FPA recommends EXTREME CAUTION dealing with this broker.
FXDD is an online forex broker. FXDD offers the MetaTrader, MTXtreme, MT Mobile, Mirror Trader, and Swordfish top forex trading platforms. FXDD.com offers over 30 currency pairs, gold, silver, and oil for your personal investment and trading options.
- Not guilty0
|Case ID||Filed||Case name||Verdict|
|2012-024||2012-03-13||Raimundas vs. FXDD.com and FastBrokers.com||guilty|
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"Off quotes" all the time. Some pending orders do not execute when they have to and can not be deleted.
"FXDD Bermuda Limited" has not been registered at BMA(Bermuda Monetary Authority). The company is not included in the list of licensed entities(http://www.bma.bm/investment/investment-business/SitePages/Licensed%20Entities.aspx). Although some websites explain that FXDD Bermuda is registered at BMA, it is false.
Fxdd is maybe the only broker out there that when you check their site you see the (nice, NBP usually providing ) risk disclosure ''you may lose even all your investment'', when you are asking their representative, indeed he is assuring that they provide real negative balance protection restoring your balance to zero, but when you are opening your real account, after they are asking you for Iban, analytic bank account info to connect it with your account, they make you accept a different risk disclosure in the end, where ''YOUR LOSSES MAY EXCEED YOUR DEPOSITS '' and many sections describing situations linked to this, with the client owning money to the company and the company having many demands on him.
As Mr. Michael Lin wrote, "FXDD Global" (for Europe) is run by regulated "FXDD Malta Limited" (http://www.fxdd.com/fileadmin/user_upload/pdfs/mt/en/en_US-customer_agreement-fxddmalta.pdf), and "FXDD Trading" (for Asia) is run by not regulated "FXDD Bermuda Limited" (http://www.fxddjpblog.com/wp-content/uploads/2015/12/en_US-customer_agreement-fxddbermuda.pdf).
But in some introducing broker's websites and affiliating websites for Asia, the information about "FXDD Global" is written. So Asian people may misunderstand as if "FXDD Trading" was run by "FXDD Malta", and "FXDD Bermuda" was regulated by MFSA.
In addition, some websites are showing the services and credit card brands which customers cannot actually use at "FXDD Trading", as if they were available.
To be frank, this is terrible. Asian should be careful not to be deceived.
Attention! This broker scam. Within 2 months I can not get my money.
Application for Withdrawal was sent on 22 April. So far the money has not been credited to my account. FXDD my questions answered nothing clever. They only say that the money is sent, and do not provide evidence.
The case was sent to mfsa and NFA (the bill was sent through the IB, NFA Member (BBFX))
I recently opened a white label brokerage with an FXDD competitor who told me that I had an STP setup and all client trades would be routed to an LP. That was not the case and my first client made $15000 on a $200 deposit in one week. In a panic I contacted Lawrence Fayman at FXDD and within 3 days he created a grey label with no setup fees and no initial deposit. On the 4th day all my clients were transferred to FXDD and all their trades were routed to Forexware. The EURUSD spread I was offered was around 0.1 pip which allowed me to earn significant revenue while offering my clients super low spreads and ultra fast execution. In two weeks I generated $500mill in notional volume. I just requested my first profit wire of $7000 and it was rec'd without issue in 3 days. This is a first class organization who have not only saved me financially but have put me in a position to thrive. Thank you to the entire team at FXDD.
"FXDD" means the two brokers, "FXDD Global" and "FXDD Trading". FXDD Global provides the service for Europe, and FXDD Trading does for Asia. The "Global" is run by "FXDD Malta" which is regulated by MFSA(https://www.mfsa.com.mt/pages/licenceholder.aspx?id=2070). But the "Trading" is run by "FXDD Bermuda" which is not regulated by MFSA, BMA(Bermuda Monetary Authority), etc. So Asian users should be careful.
update for my case
im very very happy mr fady attia called me today and he informed me that my old case will be solved with 10 mintes and i will be able to withdraw it , really thanks mr fady and fxdd to solve my problem thats ensure that you are big company and this mistake is just accident , mr fady turned me from detractor client to promoter (: .
alot of thanks to peace army you are our power cant find words to thank you
2015-06-25 1Star they stole 1354$ from my account 1113754 today as they assume that i made extreme scalping during news time by robot , thats happen about month ago but they only do this stole when i asked for withdrwal , please stay away from this scam broker
Added by Peter Davis
Content: We are sorry if you were disappointed with our service. I will have someone reach out to you and see what we can do to resolve this issue.
Terrible broker! Don't be scammed by them, they will stop out your trades regardless of your the pip difference.
Fast withdrawals...Even with USD 21k.. took one week...Responsive feedback...Definitely a good broker.