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

E,
Western Australia, Australia,
Nov 19, 2019,
Guest

Lousy customer service

Service use: Live

Length of use: over 1 Year

It has been a disaster Forex journey for me. They demand photo id so that I can withdraw funds. Ridiculous
 
Spain,
Dec 26, 2018,
Registered user

SCAMMERS

I have filled the official form for withdraw (IBAN and BIC) from my account on FXDD Malta but they are denying it. I have received bank transfer from all over the world with this information but they are requiring me additional information (intermediary bank) that is not required in their official form and is not needed for european bank account.

Moreover, they have a bank account in Bank of Valetta (Malta).

I have initiated contact with MSFA for claiming, anyone have experience with the procedure?
 
Canada,
Dec 22, 2017,
Registered user

Bad Broker

Bad broker. Many bad things. But the worst is their dealing desk who constantly were closing my positions. Even after I gave them all evidence and screenshots they would never admit it. They would never explain me who closed my trades in the middle of (my) night. It would happen every few days (closing bunch of my trades). Sometimes they would even give me some 'good will' small credit. Customer service was pretty good, except when it comes to admit that they closed my trades. Withdrawals went smoothly all the time.
 
Uri,
Ao Nang, Thailand,
Feb 27, 2017,
Guest

Poor

"Off quotes" all the time. Some pending orders do not execute when they have to and can not be deleted.
 
Shun Tanaka,
Japan,
Nov 13, 2016,
Guest

"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.
 
Athens, Greece,
Sep 7, 2016,
Registered user

Untrustworthy

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.

 
Risa Mochizuki,
, Japan,
Jun 23, 2016,
Guest

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.
 
Vladimir,
Spain, Spain,
Jun 20, 2016,
Guest

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))
 
Charles M,
Toronto, Canada,
Jun 9, 2016,
Guest

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.
 
Michael Lin,
, Japan,
Jun 3, 2016,
Guest

"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.
 
maged,
damietta, Egypt,
Apr 21, 2016,
Guest

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 on 2016-04-21
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.
 
Scott timble,
, Canada,
Feb 9, 2016,
Guest

Terrible broker! Don't be scammed by them, they will stop out your trades regardless of your the pip difference.
 
Reply by Peter Davis submitted Apr 21, 2016:
We are sorry if you were disappointed with our service but can you be more specific with your criticism so we can find a way to help you?
CMK,
KL, Malaysia,
Jan 12, 2016,
Guest

Fast withdrawals...Even with USD 21k.. took one week...Responsive feedback...Definitely a good broker.
 
Reply by Peter Davis submitted Apr 21, 2016:
We are glad we could provide you with a good experience and appreciate your feedback.
Beyhan Bilgiç Dinç,
Turkey, Turkey,
Dec 23, 2015,
Guest

2 weeks ago I had a withdrawal request($482). On 14 Dec 2015 they have taken it from from my forex account. Today it is 23 Dec 2015 and I'm still waiting waiting for my Money. I've called several times and sent several mails. They always say "we are trying, we are trying." But still no solution. I'm not sure if I'll be able to get it or not.
 
Reply by Peter Davis submitted Apr 21, 2016:
We are sorry if there were delays with getting your funds. If this issue has not been resolved or if you would like me to look into how you can stream line the process in the future please email Pdavis@fxdd.com with your account number, the details of how you would like to make withdrawals, your contact information and time when you would like to be contacted and I will get this handled for you.
ZHAKHONGIR,
YUKO, Kazakhstan,
Nov 19, 2015,
Guest

Broker FXDD Europe not once violate the rules on conclusions. Online support does not resolve the problem. On the sales letter doesn't answer and ignores. So far it has been 10 days as applied to the output. Still can't get my money in the Bank. Therefore I do not recommend the moment to work with them.
 
CT TEO,
Singapore, Singapore,
May 25, 2015,
Guest

just to feedback n comment that FXDD is higher recommended with high rating, as their services if fast and cash out is within a week, super fast, super good broker. immediate response to your query too.

From
Teo
 
Reply by Peter Davis submitted Apr 21, 2016:
Thank you for your feedback. We are always happy when we can provide a positive experience.
Novriandy,
Surabaya, Indonesia,
Mar 6, 2015,
Guest

I was very very disappointed with this broker!!! Really, they just wanna steal your money!! Rubbish broker!!
I can't access my account without any reason.
 
Reply by Peter Davis submitted Apr 21, 2016:
We are sorry if you were disappointed with our service but can you be more specific with your criticism so we can find a way to help you?
Steve,
Austria, Austria,
Jan 24, 2015,
Guest

The biggest scam broker!
The SNB decision should be a golden moment for me. I made a huge profit but unfortunately this scam broker removed all my profits hours later. Again, the broker did this hours later, but they don't removed the profits they also left a big negative balance on my account.
In fact, it was just a golden moment for the broker, because obviously the broker can adjust trades as he want.
 
Reply by Peter Davis submitted Apr 21, 2016:
As I am sure you know the SNB was a rare event that caused extraordinary volatility in CHF crosses and forced FXDD to fill client orders and positions in an extremely illiquid market. The true market was established after the fact meaning all orders and fills had to be revised to reflect the actual market conditions. While this was an unfortunate event in forex trading, FXDD?s response was in line with the entire industry.
Mindaugas,
Kaunas, Lithuania,
Jan 22, 2015,
Guest

This expression relates to the trades of 01 15 of the Swiss bank decided on the franc. Then the broker initiative was strongly and illegally adjusted by changing the opening prices. For example, USD / CHF trades and EUR / CHF trades open price was changed about 1200-1300 pips against me. I lost thousands of euros profit. I think FXDD Scam number one.
 
Reply by Peter Davis submitted Apr 21, 2016:
FXDD's response to the SNB was in line with the entire industry and was in no way illegal. As I am sure you know the SNB was a rare event that caused extraordinary volatility in CHF crosses and forced FXDD to fill client orders and positions in an extremely illiquid market. The true market was established after the fact meaning all orders and fills had to be revised to reflect the actual market conditions.
Trader,
City, Canada,
Jan 22, 2015,
Guest

THEY JUST STEAL YOUR MONEY. I PUT A SELL ON THE EUR/JPY, THEN THE SPREAD SUDDENLY INCREADED TO 25 PIPS, WHICH KICKED IN MY STOP LOSS. I TOOK A LOSS FOR NO REASON AT ALL--NONE. I SHOULD HAVE MADE 50 PIPS INSTEAD.

THESE PEOPLE ARE CROOKS. KEEP AWAY FROM THESE PARASITES. THEY ARE JUST CRIMINALS.
 
Carmen,
Porto, Portugal,
Jan 21, 2015,
Guest

Day 15/01 SNB day - i open same orders in usdchf, eurchf and gbpchf, the 2 orders of gbchf and eurchf are buy so i lost no problem with that orders for the broker, but the usdchf trades were a problem because i win so the broker says that this orders were in an extremely illiquid market.
With that my orders were revised just this usd chf trades, from 1.00500, 0.99884 to a round number at random of 0.88000.
the result is when i close this usdchf orders have a P/L +143.95 eur. they put in -3821.94 eur. ( this is usdchf trades ), because the other eurchf and gbpchf orders were not revised because i lost, so no need to review.
 
Sanjoy Khatun,
Dhaka, Bangladesh,
Jan 9, 2015,
Guest

Once I had long delay with my money withdrawal from this broker and though finally I had my money back I feel not safe to trade with this broker.
 
mani,
canada, Canada,
Jul 21, 2014,
Guest

I have submitted withdrawal request more than 15 days ago and after daily follow up, I got the money in my bank account today.

Will never goto this Broker again.
 
Al Pipo,
Louisiana, USA,
Jun 1, 2014,
Guest

FXDD members have received a closure notice and all deposits will be transfer to FXCM. How much of the actual funds will be transffered is not clear but what is clear is that FXDD oi out of the Forex market.
A bunch of thieves are now running for cover, question is if they are all moving to FXCM TO CONTINUE THE SCAM.
 
therdup,
Strasbourg, France,
May 10, 2014,
Guest

I cannot say that they are scammers. whenever I needed someone to talk with to explain me things regarding my earnings and my account I always got support. the thing is that I never earned money with them. luckily I have found a different broker that I am making money with. don't waste your time with fxdd and search for a different broker.
 
chemie262,
, Germany,
Mar 30, 2014,
Guest

This is a new fine by the MFSA:

28/01/2014 FXDD Malta Limited On the 28th January 2014, the Malta Financial Services Authority (‘the Authority’) fined FXDD Malta Ltd €25,000 under the provisions of Article 16A of the Investment Services Act. FXDD Malta Ltd was found to be in breach of SLC 2.01 of Part B1 of the Investment Services Rules for Investment Services Providers. This notice is being published in accordance with the provisions of the Malta Financial Services Authority Act.
 
Juan Jose Fernandez,
Lima, Peru,
Feb 9, 2014,
Guest

A very close friend of mine recommended I invest on futures with the FXDD agent in Peru, Mr. Sergio J. Reategui. She had been advised by Mr. Jorge Medina Mendez, Ernst & Young general manager in Peru, to invest on futures with that agent. Because I trust my friend and know about Mr. Medina´s prestige as a financial auditor, I decided to follow the advice. Because of my work schedule I was not able to meet the FXDD agent, so all the process was to take place through emails and phone calls. On June 22nd, 2012, the FXDD agent emailed me two documents for me to print, sign, and send back to him via email. They were: The Compensation Acknowledgement and the Open Position Acknowledgement Agreement. I did it on June 22nd, 2012. He said they were the only ones needed to open my account. On June 25th, 2012, FXDD sent an email saying they had prepared documents to be signed in a safe environment, but the agent sent an e-mail letting me know he had already sent the documents required to open the account. Consequently, I assumed the FXDD mail referred to those same documents I had actually hand-signed. However, on June 22nd. he had already forged my electronic signature at Sertifi and wet-signed the Customer Agreement, Additional Risk Disclosure, and the Power of Attorney, documents I didn´t even know existed, at my back. My account, then, was illegally open as part of the PAMM 1300033 account with an initial investment of US$7000. I was classified as a retail client and was assured to have special protection. However, when the agent got the last client for the PAMM account, all the money was depleted. The forgery of my signature and the forgery of crucial documents used to open my account and deplete all my investment was perpetrated at Sertifi, a company based in Chicago. As soon as I discovered the forgery, I contacted FXDD and requested they give my money back. They insist my documentation “has been e-signed as per company’s policy based upon accepted international standards...” I contacted Sertifi and requested they withdraw the electronic signature bearing my name from their data base and send me evidence of this. They haven´t done it so far, so the risk of someone using that signature for illegal purposes again still exists. Sertifi is, at least, responsible of serious negligence in this issue, but I believe they have been co-actors in the scam. The Audit Trail they sent me clearly registers that the forgery was done THREE DAYS BEFORE they even invited me to sign documents in a safe environment. Those documents must have been signed from the FXDD agent´s email address, since his IP number: 201.230.153.52 is the one registered as mine. However, Sertifi has deliberately registered my email address next to the forged documents. Mr. John Stojka, cofounder of Sertifi, has refused to cooperate by hiding information I requested and refusing to withdraw the forged signature. Documents/more info available at request.

What I find extremely strange, to say the least, is that both Sertifi and FXDD considered those documents as valid to open my account when this contradiction exists and is evident in their own report. Another aspect I find very suspicious is their having written my own email next to the forged documents as if it were the one from which those documents were signed. All this makes me think these may easily be illegal acts performed not just by the FXDD agent in Peru, Mr. Sergio Reategui, but may be usual illegal activities to commit fraud and even launder money accepted and practiced both by FXDD and Sertifi, otherwise, they would have already sent me the information I need to fully identify the person who forged my signature and used it to validate those two documents.

I have written to Ms. Marina Pinto, the FXDD agent in New York who is in charge of our account there to request that they return my money, but she has lead me to another department in Malta where no operations whatsoever were performed, I assume she did this to avoid further issues. I have not gotten a relevant answer from them so far.
 
new trader,
Singapore, Singapore,
Jan 13, 2014,
Guest

Do NOT use this broker. They have lousy spreads and have inactivity fee. No point wasting your money on this. Do let others know how lousy this is and not to ever use this broker regardless!
 
mario taillon,
montreal, Canada,
Dec 17, 2013,
Guest

Just this morning, I entered in a new USDCHF immediate execution trade, the currency pair was fluctuating by 2 pips and I was immediately under by 10 pips ! ...
 
SILBAN,
SLOVENIA, Slovenia,
Aug 19, 2013,
Guest

Such ignorance and scamming behavior which FXDD broker uses should be punished. Institutions that gave them permission to work they should controlled and punished.
I received an email that the account will be closed and all profits wiped.
I know that my trading was legally and I immediately sent withdrawal request form.
After this event several times over last 2 week I have attempted to withdraw my money, always they replied that withdrawal will be processed shortly.
I sent in 5 withdrawal requests and multiple emails. None have been answered.

I complained also to regulator and I wait for response.

FXDD = SCAM
 
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.
 
Rio,
, USA,
Jun 18, 2012,
Guest

I had an account for four years with FXDD. It was great at first but problems happened. Basically, they stole my money from my account. I did not trade for about six months because I was busy. So I did not check my account for a while. I recently tried to trade and I realized my balance was wrong. I contacted FXDD and they said they adjusted my balance. How this happens? Can they just adjust my balance even without trading? It was bulls***! They stole my money. I complained and they promised to solve this problem. Do you know what they did? They said they adjusted my balance long ago and it was too late to claim it. They said I had to check my balance every day even though I did not trade. Do not use FXDD you cannot trust this company.
 
matt weaver,
phoenix, USA,
May 31, 2012,
Guest

Business 101: never sue your customers.

I want to join fxdd so bad because of their Mt4 mirror trade integration. But I can't join a forex company that takes legal action against their customers for bogus reasons. I will be taking my business to fxcm. Which has a similar setup with currenex. Get a hint fxdd!
 
selcuk,
Istanbul, Turkey,
May 21, 2012,
Guest

I rated them with 5 stars two years ago. Now I am rewarding them with 1 star! I have left them 1 year ago due to their inappropriate trading conditions that changed to my disadvantage gradually.
I used their MTXtreme platform, which was advertised as low spread plus $ 8 commission per lot. In the beginning, the spread for EURUSD was around 1 pip and the Gold spread was around 60 cents. Then the spread for EURUSD got wider and wider in months and became higher than the regular MT4 account spread! Then why in the world I have been paying commissions? MTXtreme platform had to be a platfom intended for high volume traders and have better conditions, but I was being punished with less favorable trade costs. A trader who opened an account with $ 500 could trade with better spread and no commission than a trader who had an account of $ 50,000! How fair is that? At the time, the spread for Gold became 75 Cents, I began also trading Gold, but as I traded more my spreads got higher. I complained of this situation by an e-mail. They returned with a reply saying they were not interfering with the spreads on MTXtreme platform, because it was an interbank platform and they were making money with just the commissions. Then with the same, even lower spreads on standard MT4 platform they should have been making no money, becuse they didn't charge any commissions on that platform. How funny! Even funnier is that, they lowered my Gold spreads to 50 cents the next day. They weren't interfering with the spreads, but they could lower them! But hey, that's not all, when they lowered the Gold spreads, my EURUSD spreads got higher (around 2,2 pips) in one night on this interbank platform, which they were not able to interfere with. Within those months I had those experiences, I also experienced order rejections and lost money, of course.
Then a friend told me about their PowerTrader platform, which had been powered by Currenex. This was an institutional platform with very tight spreads and low commissions. Ok, that was for me! I carried my account to PowerTrader plaform. On the very first day of my trading, The platform suddenly began to open trades one after another, It had opened 11 trades in a few seconds, before I could shut down the platform and stop the "welcome party". I lost $ 600. When I made my complaint to the company, they told that the trades were opened by me and that was not a mistake of theirs. The money was not so big, so I'didn't insist. After a few weeks, one of my trades was stopped out at a price, that had never been seen on the market. That had cost me another 600 bucks. However the spreads were magnificient 0.6 - 0.8 pips for EURUSD and nearly the same for GBPUSD and I was paying half the commissions of the MTXtreme platform, so I did not leave the company for some while more. I was in the "interbank" market. What could be better then that? Then, in a few months My magnificent spreads got worse gradually. In the beginning, I was almost never seeing a spread of 1 pip for the EURUSD, it had been always lower. But months after, my spreads were never going lower than 1.1 pip. When I tried to get a report from the platform, I have seen that I could filter the results by the counterparty, i.e. I could get the report of my trades I made against X Bank or Y Bank. However in this field, there was only one choice, FXDD! From all that experience and experiences of fellow traders, at last I understood that this Currenex platfom was just a mask that disguised their robbery. I was not trading in an interbank environment, this was just a lie. The counterpary was always FXDD, they could play with the spreads as they wished and they could stop your trade at a non-existent price. They could open trades from your computer and do all the dirty tricks to rip you off your money as a scammer broker would. Also one of my friend's account was recently emptied with a trade, which he never opened and they never take the responsibility. He will file this case to the FPA in a few days. They were very good when they were trying to attract clients from Turkey, when they first entered intı Turkish retail market. Then they turned out so bad.
I think there is no good reason to open an account with them. There are some good brokers in the market, find them and don't lose your hard-earned money, just a friendly advise...

2010-05-02 5Star I just laugh when I read all the negative feedbacks here.

I never experience stop hunting. There has been many times when my trades went to profit without being stopped out, even though the price got as close as 1 pip to the SL.

SL and TP are always respected.

Execution is one of the fastest I have seen so far, compared to other MT4 brokers.

Requotes are very rare and happen during volatile hours only.

Account opening, funding and withdrawals are nearly immediate, considering the overseas transactions.

Customer support is always friendly and helpful.

Their MTXtreme platform and account is awesome, very tight spreads and low commission (request a discount for the commissions, you will get it!). The only one with so tight spreads, while it is not an ECN.

The only thing I can complain about is their relatively high spreads on regular MT4 account. EURUSD is 2 pips fixed, that's OK. But the other pairs are somewhat high. This is not a problem for me, since I mostly trade EURUSD.

They have different platforms for different trader profiles, including mobile MT4.

I advise this broker to all traders, whether newbie or experienced.
 
Caterpillar,
, Singapore,
Apr 18, 2012,
Guest

I would like to highlight to everybody that so far I see only negative slippage for stoploss but no positive slippage for take profit on FXDD
This is different from other brokers I use
I suspect that the switch to 5-digit/3-digit is to make use of the fact that it is 10x more easy to get slippage due to the finer granularity and thus more opportunity for them to keep the positive slippage
Is this similar to the FXCM unfair slippage case

My comments in asterisks
FXDD Chat: We don't guarantee Stop losses becuse, in a fast market, prices might gap straight through the stop price. A stop order is designed to limit losses (by guaranteeing execution). Sometimes the order can get triggered at a price worse for the customer because of price volatility. The rationale for this is that we need to get the customer out at the next dealable rate, rather than hold on to the position, which might result in further losses. However, we can only trade at rates we ourselves are getting, so if we cannot trade at their stop price, it must be done wherever it can be. We guarantee Take Profits because Take profits are limit orders. An actual definition of a limit order is an order to buy at not more, or sell at not less, than a specific price. This gives the trader control over the price at which the trade is executed; however, the order may never be executed ("filled"). Limit orders are used when the trader wishes to control price rather than certainty of execution. With limit order or take profit, we guarantee a price, just like the definition of a limit order states, since if it is reached, it is provided for execution.
***You may be keeping the positive slippage of course Take Profits better be GUARANTEED***

...

FXDD Chat: No, because they are two different types of orders. Take profits are limit orders, by definition, limit order can only be executed at the exact price you placed.
***WRONG! A limit order can be executed at a specific price OR BETTER!***

...

Thank you for using FXDD Live Talk. You may now close this window.
Your session has ended. You may now close this window.

Found this somewhere on their website:
"LIMIT ORDERS ARE FILLED AT THE LIMIT PRICE WITHOUT IMPROVEMENT. LIMIT ORDERS ARE NOT TREATED AS “OR BETTER” ORDERS."
Ahha! So where does the positive slippage go when theres a better price?

They can even twist the definition of a limit order These guys are definitely fishy
Im too lazy to check on their rollovers whether they copper customers money in this area also
For all these I must be fair to say most market executions are fast and at the exact price Strange!
 
Michael,
Pennsylvania, USA,
Mar 17, 2012,
Guest

Do not deal with these people.

I did, and when I got ahead, they noticed, and it was only a matter of hours until they cleaned out my $16,000 with margin calls and fake numbers with adjusted spreads to hit margin calls. The prices that I was called on, never happened after I checked. Forget the 5% bonus they offered me when I put in $10,000....they got it back. They had race cars, and when I was down to nothing, I was still getting reports about how good their race cars were doing.

And in learning over the years, there is a rule that I stand by....if you open a demo account anywhere, and somebody calls you with pressure....run for your life.

The high pressure salesman that they had now works for a different company....and he is hitting me again, and does not even remember past dealings. Chris is his first name...

I should hit the SCAM button here, but I wont.....I will give one star so that people read it.

Avoid this company even though they might have licenses now. They operated in the past with only applications.
 
Raimundas,
Vilnius, Lithuania,
Mar 14, 2012,
Guest

Issue escalated to Traders Court Raimundas vs. FXDD.com and FastBrokers.com | GUILTY
As I understand the NFA rules, dealer have less than an hour after a trade closes to cancel if it's a pricing issues. Hereby, the FXDD has brutally broken the NFA rules and I decided to fill the complaints on the NFA's Contact Us and CFTC's Information Reporting Form Websites. As outcome, the NFA started the investigation. The NFA's investigation is not finished yet, but we have won the first our battle: at 17th Feb, 2012 the FXDD dealer has been obligated to refund our profits and the trading account balance has been successfully restored. But it's not the happy-end of this story...

Suddenly, yesterday I've gotten the summons in a civil action against FXDD and the whole bundle of judicial documents... This time, the case has involved couple (total number of defendants is 10) unfamiliar defendants. The mentioned documents are full of flaws, lie and slander. I have sent all these documents together with my thoughts and my findings to the FPA's investigator Mr. Gerard. I've also started new thread in the "Scam alerts folder" (see the link: www.forexpeacearmy.com/forex-forum/scam-alerts-folder/19265-fastbrokers-fxdd-case.html ) and filed an FPA Traders Court case.

Since I'm not lawyer, I'm not sure, if I would be capable to defend myself and my father... Additionally, my English is very poor. Thus, I'm requesting for your help. I think, it's time to stop these FXDD thieves.

2011-12-05 1 Star This review is a continuation of FastBrokers's story (see my review dated 1st November, 2011 here: www.forexpeacearmy.com/public/review/www.fastbrokers.com.
After the FastBrokers denied to pay rebates, I contacted the FXDD's support asking about the reasons to disable the trading account. Initially, FXDD's response was as follows:
"Please be advised that your account has been archived. If you wish to reactivate your account, please send a request to support@fxdd.com stating that you want to reactivate the account."

Then I requested to reactivate our (it's a joint account) account. After this, I got different response - see below:
"Please be advised that the trading account has been disabled by our compliance department. Please call and speak to James Green from our compliance department at your earliest convenience."

Then I requested for the James's Green's explanation. After few weeks of silence, at 30th November the sum of $3642.68 vanished additionally without any explanation from the balance of trading account. Finally, on the next day I have got the James's Green's reply:
"After analyzing all records related to your account, FXDD has determined that you have violated the terms and conditions of your customer agreement. Specifically, you have violated the provision set forth below. As a result of your off market trading activity, FXDD will return your deposited funds to you and disable your account. Any profits attributed to off market trading will be withdrawn from your account. You will be prohibited from trading at the firm in the future."

My father and me doesn't agree with James's Green's explanation, because the trading activity on our joint account was in full accordance with FXDD Customer Agreement and Trading Rules. We will try to prove and seek this case to be updated it as SCAM.
 
CTGUY,
Alabama/Tennessee, USA,
Feb 22, 2012,
Guest

A once highly regarded broker is now seeing a lot of complaints. This is a lawsuit recently filed against the company:

Morgan Business Trial Group have announced that they sued FXDD as well. Details of the case are pretty much similar to FXCM’s. In basis of the complaint is the allegedly aggressive and misleading marketing by FXDD as well as that it is in fact a market maker which goes after its clients and doesn’t STP all orders as it claims. The Plaintiff Hugo Cruz has allegedly lost almost $300,000 due to these practices.

The lawsuit, filed on February 11 in the United States District Court for the Southern District of New York (Manhattan Division), is the second class action lawsuit filed by the firm against Forex dealers in the past week, alleging fraud, deceptive trade practices, and racketeering. On February 8, The Business Trial Group filed a similar case against Forex Capital Markets, LLC (FXCM). As in the FXCM case, the suit alleges that FXDD has defrauded thousands of customers using deceptive and unfair trade practices, including falsely portraying its Forex trading platform as “transparent,” when instead it is a “rigged game,” designed to systematically separate customers from their money.

The Plaintiff, Hugo Cruz, brought the action on behalf of himself and all other similarly situated FXDD customers, accusing FXDD of fraud by misrepresenting its trading platform as one that is free from dealer intervention or manipulation. Instead, Cruz alleges, FXDD uses a number of devices and tricks, including software applications, designed specifically to manipulate and interfere with customers’ trades.

Like the FXCM case, the suit alleges that FXDD uses specially designed software to manipulate trading and “loot” its customer accounts, and also that FXDD lures its customers by promoting a “demo account,” which was touted as providing customers with a true market trading experience. Instead, the suit alleges, the demo account does not reflect what FXDD does when the customer begins “live” trading.

Lead Trial Counsel Tucker H. Byrd, of the Morgan & Morgan Business Trial Group of Orlando, Florida, stated, “We are continuing to bring legal action for redress of wrongs that we believe have occurred to thousands of Forex customers for years by dealers who have been entrusted with their customers’ money. Unfortunately, many Forex dealers engage in questionable practices, and we intend to pursue any and all of them until we have put an end to these abuses.”
____________________________________________________

My concern is with the company lying and deceiving me. It took two days to fund my account using a credit card. After requesting a refund, the company claims they don't know where the funds are. Now I can see why the company is receiving negative reviews. I strongly do not recommend this company and foresee a very short future for them if they keep on with these deceptive practices. Customer support, sales support and accounting are very unprofessional in my opinion. If you ask to speak to anyone in the corporate offices, they will say that they can't give out that information. Is this the kind of people that you want in charge of your trading account...NOT!
 
Jerome Reynolds,
Twin Cities, MN, USA,
Nov 16, 2011,
Guest

MT4 is BAD. Account trades and balance don't match official records. And today I they did not honor a stoploss. Only an 8 pip difference but when I asked their customer support, the answer I got was stoplosses are not guaranteed and that the transaction was closed at the best available price. An 8 pip difference for 0.25 lots in the middle of the NY and LONDON session when there is no news.... Clearly they are not a good broker.

Moreover, they charge $10 commission/lot plus a 3 pip spread on MT4 accounts. There are much better deals out there.
 
Ali Ahmad,
Lahore, Pakistan,
Nov 10, 2011,
Guest

This is one of the Best FX Broker I have ever seen.

Benefits:

Quick Deposit and Withdraw the amount.
Best Customer Service.
Best Online Chat Service.
Best MT4 with Various Tools.
Quick Email Response.

Negative:
Some Times Off Quotes while trading and Re Quote.

I have been trading with this broker from past 8 Months This is the Best FX Broker. Those who says this broker is not good they have to prove that. Otherwise you can try this broker with full confidence.

FXDD Best Broker
 
John,
NSW, Australia,
Sep 13, 2011,
Guest

FXDD has become one of the worse brokers. They widen spreads massively up to 40-50 pips wide, create big slippages and they hunt stops. On one AUD news they hit my stop 50 pips away without any justification. Stay away from them.