FXDD Review

FXDD is one of the largest Forex brokers in the market and is active around the globe and around the clock, focusing mainly on of the Americas, Europe, Asia and Japan. It offers its Forex trading clients a comprehensive environment of capabilities and support , comprising a wide variety of trading tools. The review below discusses the most important aspects of FXDD’s system and services.

Costs

FXDD does not charge a commission on transactions executed on its standard retail platforms. This is common practice in the Forex market nowadays. FXDD does charge commission on some accounts for high volume traders but these accounts come with significantly lower spreads than the standard retail accounts (this is explained in more detail later on).

Spreads at FXDD

FXDD offers spreads that are competitive. The width of the spreads depends on the type of account you choose. MT4 accounts and FXDDTrader accounts which are both commission free come with spreads that typically vary between 2 and 3 pips for major currency pairs. In comparison with other top notch brokers as GAIN or FXCM, these spreads are highly competitive.

MTXtreme accounts or PowerTrader accounts which are not commission free and more tailored to large private traders come with lower spreads, often lower than 1 pip for major pairs. Again, also for this market segment FXDD’s spreads are highly competitive.

Review of FXDD Platforms

FXDD Forex trading platforms incorporate full charting packages with various time-line possibilities, display types, and numerical, i.e. mathematical and statistical, analysis.

There are 5 trading software platforms on offer:

1. Meta Trader 4

This platform incorporates the Expert Advisor feature and is the most popular retail trading platform nowadays. It offers advanced statistical and analytical features. Furthermore, MT4 allows you to build your own trading strategies, use automated trading robots. The latter can be third party but you can also create your own unique trading robots. We definitely recommend MT4.

2. MTXtreme

The MTXtreme platform is MT4 for high volume traders. While still a retail platform, the minimum account size at opening is $ 10,000 so not something to start out with as a novice trader. The platform is commission-based but comes with far lower spreads than you would have with a regular FXDD MT4 account. Spreads are often below 1 pip for major currency pairs so true high volume traders are much better of with this platform.

3. FXDDTrader

This is FXDD’s self-developed platform which offers good charting, reporting and execution options. Although this platform offers everything you need to support your daily trading, it is in our opinion not as powerful as the MT4 or MTXtreme platform.

4. FXDDAuto

This Platform is the fully automated version of FXDD’s self-developed platform and executes strategies and signals from third party providers.

5. PowerTrader

This platform is the only available to institutional traders or large private traders, the minimum deposit for a PowerTrader account is $ 25,000. The platform provides fast and reliable execution and large block trades.

News updates

The dependency of Forex on news prompted FXDD to provide its clients with various sources of news, in order to keep them in the context of events shaping the market.Future enhancements include a commentary page and a premium internet based Forex news channel named FXDD on demand. This feature has become more important than ever before in the last few months, since the great turbulence of the financial markets arose.

Training and Tutorials

FXDD offers a series of live training courses, taking place in several major US cities, which cover a variety of Forex topics. The full day training courses are conducted by a team of leading and experienced professional trainers in classes the size of up to 35 students and for a low enrollment fee.

FXDD also offers a wide range of online tutorials, which cover various aspects of the subject matter, starting with the theoretical fundamentals, extending with analysis skills and continuing with trading techniques. These tutorials are typically short and simple, well organized and provide the quick reference one would hope to find online. It thus seems that those online tutorials do not replace the courses but rather complement them.

Round the clock support of trade and customers

The global nature of Forex trading, augmented by real-time trading and by the plurality of massive markets emerging around the world, necessitates extensive support utilities and assistance around the clock every trading day of the year. FXDD stands to that challenge and provides those services, thanks to its deployment in many markets and to its infrastructural and technological capabilities.

Multiple Languages

Serving clients around the world, including prominent regions and countries like China, Japan, Arabia and Latin-America, the multilingual support, in seven separate languages, is well placed in order to support traders from all those markets.

FXDD review conclusion

We find that FXDD is is one of the best brokers on the retail market as well as on the institutional market. This strength is achieved by offering five different platform types and substantial liquidity sources combined with good customer support and fast execution.