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FXDD.com Review MT4 - MetaTrader Platform

Overall Rating: (1.758)
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Total Reviews: 194
Last Updated: 2016-04-25
Description:

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.

Special Notes:

January 28, 2014;  FXDD Malta has been fined €25,000 by the Malta Financial Services Authority.  CLICK HERE to verify.

September 18, 2013:  The NFA and CFTC have fined FXDD approximately $2 million dollars.  The company also must repay $1.8 million to clients for assymetric slippage.  Click here to see the FPA article on this subject.

October 23, 2012:  The NFA has file a complaint against FXDD for AML failing to implement an adequate AML Program.  Click here to read about this NFA action.

June 29, 2012:  The NFA has charged FXDD with diffential slippage as well as with violations of NFA rules regarding trade cancellations.  Those trade cancellations relate directly to FXDD's legal action against an FPA member.  The FPA is following this case very closely.  Click here to read about this NFA action.

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.

Click here to join live discussion of FXDD.com on our forum
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 1   reviews REVIEWS submit review
ID Filed Case Verdict
2012-024 2012-03-13 GUILTY

BlixemDownUnder, Australia

Rating:
Date of Post:2010-07-15
Review: I have been with FXDD for a couple of years now, with a live account. I am an experienced trader (coming from the futures market), but I was a forex novice when I started with FXDD.

It was not always smooth sailing, but I cannot blame FXDD for anything that went wrong: it was me being stupid/uneducated/still learning. Occasionally I got angry and blamed FXDD for my mistakes, sending them letters to demand refunds for my losses. The guys at FXDD always responded calmly and with explanations about what actually happened and what I did wrong. And that is how you learn to trade.

Bottom line: If you cannot take responsibility for your mistakes, stay out of this market. If you cannot accept the constraints of reality, stay out of this market. And most important: if you cannot learn from your mistakes, don’t blame your broker.

I cannot give FXDD 5 stars, because I have not yet tested them to the limit (and I hope I will never feel the need to do so), but I cannot find any fault with their service or their product.

Happy trading!

Andrew, Singapore

Rating:
Date of Post:2010-07-07
Review: I have been in FXDD for about 4 years (live account $30,000), I know about FXDD through their IB : Gainscope . In my experience, I can say that this is a good broker, and also I never got any problem with my withdrawal process.
Their IB is also excellent, because both of them are supported me very well . I satisfied with their services.

Last time, I'm win their forex competition. They pay my winner bonus and not late.

Awesome broker and Great services !

John, Colombia

Rating:
Date of Post:2010-06-25
Review: Well I have been with FXDD for I suppose 4 years now. I see no reason to leave. They have fast execution and they are quick to process my money requests. I can't understand the negative feedback? I can't believe it either I have been with them for too long. If there is an error usually it is me that made it. Some people need to own their trades and their decisions and stop blaming the broker. No broker is perfect and FXDD is no exception to this rule but if I were getting constant re-quotes like other brokers I have tried or high fees I would be gone very fast.

If your looking for a good broker look no further if your looking to blame you will never be happy with any broker.

Ali, Toronto

Rating:
Date of Post:2010-06-04
Review: This broker Terrible.
forget about execution, once you want to take money out of your account it will take them forever,their customer service suck, and they are talk like you are trying to borrow money from them,it your own god damn money they are sending you.
in my opinion broker should be reliable execution and when you are trying to get your money they should be on time not send you the money 6 days later. this happened to me like 5 time already and im moving my account to dukascopy and mbt.
You suck FXDD.

Haalpip, Sweden

Rating: No Rating
Date of Post:2010-06-02
Review: WARNING! WARNING! WARNING! WARNING! WARNING!
they are scammers and just look at your chats and find out...
FXDD are playing a rotten game and I have to send out a warning. I have account at FXDD Malta, GallantFX, Alpari UK, GFT UK and FXCM for 2 hours ago there was a huge spike on GBPUSD on FXDD up to 1.5338 and when I compared with the other brokers of mine there was no spike at all. The level for the same hour was around 1.4660 for all the others. The time for this was on my computer 2010.06.10 22:00
THIS IS PURE CHEATING

Dirk, Germany

Rating:
Date of Post:2010-05-15
Review: I just opened an FXDD Malta Live MT4 account and very pleased with this broker. I´m trading with an EA and his trades are opened and closed without problems.

By the way, WHY people put in here reviews from demo accounts? Anybody should know by now that there could be a big difference between demo and live accounts even with the same broker!!!

So my rating is for the MT4 live account, 4 stars
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BlueMental, South Africa

Rating:
Date of Post:2010-05-07
Review: I entered a contest with MyFxBook, which is hosted by FXDD-Malta.

The 1st Prize winner gets $2000, but can only withdraw it after trading 100 mini lots.

OK, I'm already dubious, but I reckon, oh well whats the difference, $2k would be nice.

The competition started this morning 2010.05.05 07:13 and I start trading soon after opening. My favourite pair is GbpJpy, and I am well familiar with the quirks of that pair.

I do well, and I take the $1000 up to $2600 (yes in one day) not scalping, but good solid long trades.

Then the mess started. One of my trades was a long position of 0.84 lots and the trend was turning, so I git the close trade script. As I watched in the terminal, it took over 40 seconds for the trade to close (little mini lots were being closed at a time, like watching a countdown.

By the time it eventually fully closed my trade, I was at -8 pips.

OK, that isn't too serious, I mean my profit trades were 100 pips plus, so 8 pips won't kill me.

Then the real problems started. Requote after Requote after Requote. It was taking up to 15 seconds per requote (in other words server overload. When was this happening? 14:40 EST.
I had to set my slippage to 10 before any trade could get through.

For crying out loud, not exactly the busiest time of the day for GY, only NewYork market is open, and just about to close.

So I am in a short, and I try to hedge. Buy the time the hedge took effect, I was -133 pips. I started the hedge at -20 pips.

Then the disconnections started. Wait for relog in etc. My frame of mind was so messed up I messed up lots of trades trying to sort out the mess.

As a final statement regarding FXDD efficiency and skill, I am putting a copy of the live help transcript I received. You be the judge.
It starts on a separate page with a question which was "I wish to know what your thoughts are regarding scalping"


info@fxdd.com
26 April 2010 09:37
To: truebluemental@gmail.com
Reply | Reply to all | Forward | Print | Delete | Show original
You have been connected to Richard M..
Richard M.: Hi, welcome to FXDD Live Talk.
Richard M.: No thoughts, we allow it
Lance: hi
Lance: I want to know what FXDD thinks about scalp trading?
Lance: great!
Richard M.: is there anything else i can help you with today?
Lance: another thing
Richard M.: Yes
Richard M.: How can I help you?
Lance: what is the margin call set to? 50% or 100%?
Richard M.: 100%
Lance: I am entering the Myfxbook competition (sponserrred by you guys) and I would just like to know if there are any things we must NOT do in the competition?
Lance: for example limited lots etc...
Richard M.: withdrawl funds
Lance: that is only after I win them... :) I mean the competition itself
Richard M.: ok to be more specific, what exact competition are you referring to
Lance: As stated the Myfxbook competition
Lance: www.myfxbook.com - sponserred by FXDD Malta
Lance: $2000 first prize
Lance: http://www.myfxbook.com/contests
Richard M.: ok all rules are posted in the website.
Richard M.: nothing more .nothing less
Lance: ok, now if I trash my demo accountand wish to re-enter assuming there is time left, is that allowed?
Richard M.: No, only one account per person.
Lance: ok, thank you.
Lance: are you sponserring other competitions other than Myfxbook?
Richard M.: not that i am aware of
Lance: ok. thanks, bye
Richard M.: have a great day!

What must we NOT do in the competiton. Withdrawal Funds is the answer. (the blurb about can't withdraw unless 100 minilots are traded)

He then asks 'what exact competition' am I entering, where as you can see I stated it one line prior.

So I ask for other competitions, which he states none that he is aware of.

Ok then since there is only one competition they are sponsering, why should he not know which one...?

Oh one other thing. Their spread on GY is 9 pips.

My two live brokers (MBTrading and GoMarketsAus) spread are almost the same running from 5 to 5.7 or so (except news)

So for all the greatness that has happened to me in a DEMO competition with FXDD, I shudder to think how efficient their live service must be.

I used to grumble to myself with GoMarkets sometimes taking up to a second for a trade to commence. Yikes!!! they are a dream compared to the time FXDD takes. I must admit though, that all my trades prior to 14:40 EST were not lagged or requoted. And GY did drop a large amount in a short time (over 1000 pips), but that is not uncommon, and both MBT and GoM do not have the same problems as FXDD.

I might (by a miracle, still manage to turn around this mess and win the competition, but if it does happen, after the 100 minilots, I want a brokers check imediately to one of my other brokers)

BluMental.

Dwi Forex, Jakarta, Indonesia

Rating:
Date of Post:2010-04-27
Review: Been with them for 2 ~ 3 years.
Fast deposit, fast withdrawal.
Spreads OK - but there are brokers with better spreads out there.

Trent Scott, USA

Rating:
Date of Post:2010-02-28
Review: I've been doing business with FXDD for about a 1 1/2 months and have been VERY satisfied! Deposits were made easy via Credit Card/PayPal and they offered me a 3% signing bonus on my initial deposit. Their trading platform, MT4, is incredibly fast and the live trading is seamless.

My experiences with customer service have been phenominal, they helped setup my account quickly. Spreads are great, speed is great and service/price are right! Five stars from me!

Trader X, USA

Rating:
Date of Post:2010-02-01
Review: I can't believe FXDD has a 1-star rating. It must be due to losing traders who blame their brokers...and anyone/anything else besides themselves. That's all I can figure.

I have two accounts at FXDD and execution, liquidity, etc. have all been great. I traded the same EAs at a smaller broker with low spreads and did consistently worse, as that broker (which has a 4-star rating on here!) constantly requoted my profits away from me.

I'd say customer service is their weakest point. It's not bad--just a little slow. I think they may be a little understaffed. However, I can easily live with that. Overall, this is still a 5-star broker for me.
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