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FXDD.com Review MT4 - MetaTrader Platform

Overall Rating: (1.700)
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Total Reviews: 179
Last Updated: 2014-03-30
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

Stephen Girouard, North Carolina

Rating:
Date of Post:2010-01-07
Review: I am a new trader who has used FXDD for about 5 months. I have found their customer service to be excellent. Good fills with few requotes except at big news releases but I have a slower internet feed.

ted, malaysia

Rating:
Date of Post:2010-01-05
Review: i have TT money new account open with FXDD but they deposit the money to a wrong account though i have stated clearly the account number in FXDD. Terrible service.

PistolDave, USA

Rating: No Rating
Date of Post:2009-12-25
Review: This is in response to the comments from "Shauna L, Seattle, WA" who gives FXDD one of the few five-star ratings.

Shauna L seems to have a glowing testimonial, and is happily singing the praises of FXDD. In contrast to the overwhelmingly negative experience of other people's posts this is very surprising and I would like to comment on some of them.

All the comments here are taken verbatum from the posts made on the dates 2009-11-01, 2009-04-03, and 2008-09-16 by Shauna L.

I have organized the comments into separate categories so I can comment on each without repetition.

------------

On customer service -- Shauna L. says:

-- I am glad that I have had FXDD to help me when needed.

-- The fact that I am rarely placed on hold and a representative answers right away sure cuts down on frustration too.

-- What is extraordinary, beyond being a good solid broker, is that the management as well as the reps have taken the time to try to help me when I have made mistakes.

-- I have rarely ever been treated with rudeness. Almost without exception, I have found a helpful and supportive staff on the other end of the phone.

-- FXDD has actually given me breaks when it was ME who made the mistake.

-- They have always corrected issues when it was the right thing to do.

I say:

You seem to have received exceptional and very professional service from them. They obviously went way beyond the normal to accomodate you and did everything possible to help you become successful. Quite different than the other traders who had experience with them and posted here. I have not interacted personally with their support so cannot comment on the service.

------------

On order placement and execution -- Shauna L. says:

-- Regarding limit and take profit orders, in over 3 years I have never had a legitimate pending order not be hit.

-- My losses are not due to slippage or system disconnect.

-- I have not found wild swings in the spreads.

-- And really do you think that FXDD manipulates the whole Forex market orders so that your little account will be stopped out?

-- Yes, I have experienced re-quotes. They happen during news trades or, with prices changing in mille-seconds. Believe me, at times like that all brokers will re-quote or not let you in or out of a trade. During more normal market action, my orders get filled just fine and the platform is very stable.

I say:

Again, this appears to be the exception to the rule, from my experience and from many others here. I can say that on the DEMO account I experienced many re-quotes, system disconnects, and extended periods where it was impossible to open/close positions. In a live account this could have resulted in major losses. This was not due to "fast" market conditions or my connection, which is a very stable and fast dsl connection. Also, I have verified by having other platforms running simultaneously that it was only FXDD MT4 that had the problems.

And yes, brokers will manipulate the data they provide to you so it appears the market traded through your stop and took you out. They don't have to do anything to the market. Your broker IS the market as far as you are concerned, as their customer.

-----------

On funds transfer in and out of account -- Shauna L. says:

-- I have never had a wire transfer delayed and money has always been promptly sent upon request.

I say:

This is the way it should be, but again from what I read here you are the exception to the rule with this broker.

----------------

On the many opposing experiences by other traders here -- Shauna L. says:

-- Most of the complaints here are rather silly and I do not believe they are legitimate, written by actual traders.

-- I really question the accuracy and “realness” of some of these comments so no need to go on.

-- The angry posts here are simply not true if you have a good internet connection and understand how the Forex market works.

-- Anyway, find out about FXDD for yourself. Could it be that all these negative reviews are because they ARE so successful in a highly competitive broker market?

-- Anyway, keep an open mind about FXDD because they are up there as far as being one of the best.

-- My experience with FXDD, without exception, has been overwhelmingly positive.

I say:

You think the complaints here are silly? Is losing thousands of dollars because of bucketshop tactics silly to you?

Are the complaints real? Maybe some people who are not "actual traders" have so much spare time that they can visit broker review sites and post fake reviews (almost all bad) and try to discredit an honest firm, but not many I think.

How do you know they are "simply not true if you have a good internet connection and understand how the Forex market works" as you say? I have a fine connection and a very in-depth knowledge of forex trading. Are you calling me and all the others here except yourself liars?

Are you suggesting that these "negative reviews" are because of jelousy of FXDD's success? Maybe these people are all out to get FXDD. Maybe you are paid to provide the only glowing testimonial in this yard-long list of irritated, mad-as-hell ex-FXDD customers. Keep an open mind? I will.

Now I don't know what to do. Believe you and open an account with them right away expecting the high quality service you receive, or believe in my limited experience with them and other's horror stories and keep away from them at all costs. Ohhh, what's a newbie to do...

Paul, United States

Rating:
Date of Post:2009-12-15
Review: Well, the demo freezes on a regular basis. So that should tell you something about the broker. Hell, if they can't get a demo to work properly then imagine if it is your real money on the line and their servers go down.
Stay away from them. The do not have a reliable platform if they can't even have a reliable demo.
Also, their spreads are horrendous. Placed and order for GBP/EUR and the spread was 50 bucks. While most other brokers were charging 2 to 3 pips. They are gouge experts.

Joe , kl

Rating: No Rating
Date of Post:2009-12-01
Review: I really wonder how a scam company like FXDD got 2 stars on this forum. They are thieves. I invested 9000 US Dollars with them but will forever regret ignoring negative reviews I had read on this forum regarding this forex scammers. The first day of my trading on their MT4, I made 234 USD and early morning of the next day, I had a profit of 328 Dollars. Immediately after this, their MT4 began to freeze, requotes, slow entry of orders started to happen until I finally lost all my investment within 2 days.
Traders should stay away from this company.

nw2fx, Oklhoma

Rating:
Date of Post:2009-12-01
Review: Can someone explain what happens? I am new to forex and opened a demo account. 3 times in the last week I have a trade open an when I am on a good trend or a recovery from a bad trade all of a sudden my trade is closed!!!HMMM lost $1500
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Stopped Out, Kuala Lumpur

Rating:
Date of Post:2009-11-29
Review: I had 4 stopouts in a week and that is very scary. I sent them email to investigate but they never get back to me. I made money for 4 days and they wiped me out in 1 stopout, lossing most of my money. I know I may have overtraded but for them not to get back to me thats unforgiveable.

cyberstar, Nigeria

Rating:
Date of Post:2009-11-10
Review: Pls leave FXDD for Good.I traded USD/CAD last wk Fri by 7am EST and place order for a buy at News release.They manipulated my account.The trade came out as a buy but instead of gaining i was loosing money till i've to close the trade.The first call to them was picked by a guy who did not know what to say on seeing my account,so hecut off the phone.
The second guy to pick my phone kept on insisting that the trade went down first before going up and when i threatened to withdrawal my money,he told me to take my leave.
This guys are not honest at all.

Chew, Butterworth

Rating: No Rating
Date of Post:2009-10-14
Review: SCAM!!! my profit all gone after i close my position, & what the feedback from them is TECHNICAL FAILURE!!! but when my order is loss, the problem so call TECHNICAL FAILURE never happen, what a SCAM r they!!!

danny, malaysia

Rating: No Rating
Date of Post:2009-10-13
Review: SCAM!!! my order will dissappear automatically without set any limit when every time i profit, but when i loss, the system wont cut my position even i has set stop loss!!!
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