FXDD.com Review

1.775 · 172 REVIEWS

FXDD Malta Ltd

Updated: May 14, 2021 · Visit site  · Is this your company?

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.

FXDD.com
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.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $1
Established: 2002
Address: K2, First Floor, Forni Complex, Valletta Waterfront Floriana, FRN 1913, Malta
Contact: support@fxdd.com.mt, (+356) 2013-3939
Regional offices:
Regulators: MFSA #IS/48817, FSC Mauritius #C117017252
Prohibited countries: Unknown
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (50+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (30+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
ZuluTrade: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, UnionPay
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, UnionPay

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1.775 · 172 REVIEWS
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Traders Reviews

Al,
Toronto, Canada,
Aug 13, 2013,
Guest

FXDD has decided to not let me request a withdrawal. I have attempted to withdraw my money several times over the last week. In the beginning they replied that withdrawal will be processed shortly. After nothing happened I sent in an email to ask about the status, this email went unanswered. I sent in 2 more withdrawal requests and multiple emails, None have been answered.

Very very bad scam here happening. The amount in question is $3000 of my deposit money plus ~$1700 in profits.

I have submitted complaints with the regulators and awaiting to hear back. I have also opened a complaint case here on the FPA website. Anyone interested to know more take a look - http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/26722-fxdd-will-not-process-withdrawal.html

Very very surprising, this regulated company is acting worse than a bucket-shop. I simply can't believe they would just ignore a client's emails like that and not process withdrawals.

SCAM so far.
 
Eric,
Benin City, Nigeria,
May 19, 2013,
Guest

I got 250$ no deposit bonus from fxdd europe. Only profits is withdrawable after 90 days from the day you received bonus. I got mine 30th of April 2013. Hope they keep to their words because I can't afford to use my precious time and then refused to be paid. No conditions applied except the 90 days thing.

Oh this broker is a sucker in requotes and high spread, slippage . It is becoming unbeareable...can't deposit my real money with them. Nothing is really free from man
 
Daniel,
Cyprus, Cyprus,
May 14, 2013,
Guest

I have open a 250 usd no deposit bonus :) what a joke ...i made another 70 usd and after they have start closing my trades :)) ... dont put your real money here ..you will cry ...
 
JB,
Colorado, USA,
May 2, 2013,
Guest

These people are thieves! They have closed my trades out siting "margin requirements" when there was no problem with the equity in the account ($20k in the acct)! After reading the rest of the reviews, I can't wait to get my money out of there!
 
Sayed Sudip,
Dhaka, Bangladesh,
Dec 10, 2012,
Guest

I do not like this broker for wider spread & slower execution, bad one. Only for charting once i used them, thanks
 
Private,
, USA,
Dec 9, 2012,
Guest

Hello,
A short History about me.
I am a FX trader for over 10 years. I have opened about 15 different accounts, most were above board maybe 2 or 3 were less than what I hoped for and 1 was outright theives.

My current experience with FXDD:
I just attempted to open an account with FXDD. After registering it came time for funding. While scanning the small print I noticed some unusual writing regarding that the way you fund your account is the way you would received funds back. Not sure exactly what this ment and because I wanted to use PayPal to fund for convience sake but not for receiving profits via PayPal due to that whole nightmayerish senerio, I decided to open a chat window with FXDD and simply ask the question: If I fund by PayPal, will I be able to receive profits other than by PayPal. (sounds clear and simple enough right?... maybe not)

To make a long chat story short what happened is this. I got two (or more) different opposing answers to the same questions sometimes more than once. Speaking to them was like circular reasoning. After what seemed like pulling teeth to get at my final answer, receiving a huge headache in the process I was told these supposed facts.

1. Funds are always releasd the same way they came in but you can specify another method to withdraw profits IF you specify this when you submit withdrawal form.
( I was told this 2 times by the first person.)

And this two times by the 2nd person.
2. Both, the profits and the initial funding, will be sent by Pay-Pal

then...
3. All redeemed funds will be returned the way the funds were received. (redeemed?)

So I ask (for the 2nd time)... There are funding funds and there are profit funds. I would like to specifically differentiate between these two types of funds, and the anwer was.

4. Both, the profits and the initial funding, will be sent by Pay-Pal.
FINALLY!

This too quite some time and a full page of bantering back and forth and two different people to finally get the truth.

Bottom line? This was the most complicated explaination I have ever heard and clearly not cohesive it the combined explaination as per the chat (which I saved).

After the chat and reviewing of it. I decided to call FXDD and re ask the question since there was clearly opposing answers to my questions.

Then I ask what if I fund by Credit Card? (ohhh noooo I shouldn't have asked!)

The answer: Ok Credit Cards are the only one that differes.
Funds in excess of funding will be sent by Bank Wire.
(this is what I was asking about in the first place)

After going through this constantly changing answer session I decided to call and ask verbally (bad move). Never talk to anyone unless you have a recording or text because they can treat you anyway they want and there's nothing you can do about it.

I had a very poor experience with FXDD and although I have had an account with them in the past. the person that said he was THE manager was very rude, unhelpful and could not speak english very clearly at all. I will NEVER try to open an account with FXDD again. I got the feeling I was dealing with a very shady company after this experience and want to let everyone know, BUYER BEWARE!
 
Stephen R.,
California, USA,
Dec 5, 2012,
Guest

All the sudden, every trade for last two months...has gone signficantly negative. Account balance changes happened without notificaton. Spreads have widened EURUSD upto 2.4 and GBPCHF upto 9..Spreads widen significantly for end of day trading and this started two months ago. starts widening 30 minutes prior to new daily bar. Found stops hit when price not near..found fxexposure tool showing spikes in spreads of upto 9 pips for EURUSD, GBPUSD, and AUDUSD. After 5 years I am out of here.
 
Karlo,
Beograd, Serbia and Montenegro,
Aug 23, 2012,
Guest

After all we read here from traders and from NFA Case Summary FxDD should be characterized as a SCAM. Such scamming behaviors which FxDD performing for years should be punished with company closing and all management personnel to be blacklisted forever.

My last experience with this scammer:
On Thursday, August 2nd, 2012 around 15:35 I noticed that something is wrong with FxDD platform. Since I watch speech from Mario Draghi, ECB president, it could be possible that FxDD platform can freeze because of bigger volatility at time. Nothing new, from my past experience last 6 years with FxDD such cases happen almost every day. At such case is the only way to test what is going on – to close or open some positions. If platform is frozen – I can’t open or close any position. But this time when I click to close position – platform accepted order. I repeat with one position more and platform was working. To be sure I opened even 2 positions more – and since they were accepted I closed them immediately. Listening Draghi speech was obviously that euro will fall, so I opened 2 already closed positions which were sell from before (before the outage). And I opened 2 more since platform was working/accepting orders. Market really dropped and few minutes later I closed all positions at once – when they were all together about 3% in plus.

On my surprise – 8 hours latter $1,837 was deducted from my account. Of course I wrote to FxDD and they sent me ridicules explanation about outage. They invented 4 imaginary trades from my 2 trades when I tested buying euro and closed them in a minute. 4 trades on my 2 trades with prices which were never on platform or FxDD charts.
First: How can trader knows that platform is down if platform is working – accepting orders without any problem?
Second: On home page of FxDD is clearly stated: What you see is what you get!
Third: Only this time FxDD had a problem with outage? It happened thousand times before and they always made money from margin calls and other lost positions because traders have no chance to open or close any position. Sometimes platform is frozen for hours. It looks like FxDD intentionally doing outages. In other case how to understand these outages while other brokers are working. And I mean on real brokers on the market and not about market makers like FxDD is who is playing game with numbers against their clients only.
Next: What damage had FxDD because of my account? FxDD is market maker and it is not trading on market. I have micro account which is not recognized on the real market as a trading account and mine trades were never forwarded to real market. This is just confirmation FxDD made robbery and nothing else.

I have to point out: I already had 6 sell positions before outage and without outage I would close all positions exactly as I did after outage.

FxDD made exactly what NFA in their Case Summary wrote: Stealing money from clients with Trade Adjustments! Beside all other dirty possibilities.

I submitted complaint against FxDD at MFSA too since they are member there. I am sure I was not the only one who was screwed by FxDD with their daily outages – and I would ask everyone with similar experience to submit complaint at MFSA too: http://www.mfsa.com.mt/pages/default.aspx
 
naji,
limassol, Cyprus,
Jul 4, 2012,
Guest

The NFA has hit FXDD with multiple charges

http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0397435&case=12BCC00021&contrib=NFA
 
Kenny Nguyen,
Florida, USA,
Jul 2, 2012,
Guest

I have been using FXDD since 2008, out of all the brokers out there I have used, I have no trouble regarding deposits or withdrawals. The spreads are getting wider, but other then that, no troules. People who have margin calls use too much margin, stay with 2%, and can still make a killing.