How to sign up and open an FXDD trading account How to sign up and open an FXDD trading account

What is FXDD?

Established in 2002, FXDD has become a trusted and well-established online forex broker, consistently providing clients with a competitive and extensive range of trading options. Offering accessibility to clients from 180 countries and a diverse array of trading accounts, FXDD is diligently regulated by both the Financial Services Commission of Mauritius and the Malta Financial Services Authority. This in-depth article will examine the pros and cons, features, pricing, and reliability of FXDD, as well as provide a comprehensive overview of the platform and its ideal target audience.

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FXDD Pros & Cons

Pros:

  • Attractive low minimum deposits, making trading accessible to a wider audience
  • A choice of two account jurisdictions, providing flexibility for traders
  • No commissions on the standard account, increasing profitability for traders
  • A comprehensive range of currency pairs and other assets to trade, catering to diverse trading interests
  • Multiple platform support and extensive market data and analysis, enhancing traders’ decision-making

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Cons:

  • Not available to traders in the US, limiting its reach
  • Only offers variable spread accounts, which may not suit all traders
  • EU-client leverage restricted to 30:1, potentially reducing trading opportunities

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Who Is FXDD Recommended For?

FXDD is ideal for cost-conscious traders who value affordability and flexibility. While there is no definite minimum deposit requirement, a practical recommendation of $250 or above ensures effective forex trading. The platform boasts an array of trading options, including forex pairs, equities, metals, and other asset types, making it an attractive and comprehensive one-stop trading solution. Additionally, FXDD offers multiple cryptocurrency pairs, appealing to traders interested in the rapidly growing digital currency market.

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Top FXDD Features

Multi-Platform Support:
Clients have access to a diverse range of trade execution platforms, including the popular MetaTrader 4 and MetaTrader 5, as well as FXDD’s proprietary Webtrader and the innovative ZuluTrade. These platforms are available on various devices, including desktop, web, and mobile, providing flexibility and convenience to traders.
Multiple Cryptocurrency Pairs:
Trade popular cryptocurrencies such as Bitcoin, Litecoin, Ripple, and Ethereum with leverage up to 10:1. A minimum trade size of 0.01/1 and a 10-contract daily limit apply, allowing traders to manage their risk effectively.
Competitive Trading Conditions:
FXDD offers an extensive range of assets to trade, along with very affordable spreads and low or no commissions depending on the account type, ensuring a cost-effective trading experience.
Comprehensive Copy Trading:
ZuluTrade provides traders with access to profiles of some of the most successful forex traders and the ability to copy their exact trades, creating a valuable learning opportunity for novice traders.
In-depth Trading Data & News:
Receive market news and updates directly from FXDD, with both data and insights provided by the brokerage’s in-house analysts. This information includes detailed charts, webinars, video and wave analysis, and a live trading room, further enriching traders’ knowledge and understanding.

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FXDD Overview

  • Type of Broker: Market-Maker Broker
  • Regulation & Licensing: Financial Services Commission (Mauritius), Malta Financial Services Authority
  • Accepted Jurisdictions: 180 countries worldwide
  • Assets Offered: Currency Pairs (live quotes), CFDs, Cryptocurrency, Commodities, Stocks, Indexes
  • Platforms Available: Metatrader4, Metatrader5, Webtrader, ZuluTrade
  • Mobile Compatibility: iOS, Android
  • Payment Types Accepted: Credit/Debit Card, Bank Transfer, Neteller, UnionPay

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FXDD Compliance & Regulation

FXDD operates from both Malta (an EU territory) and Mauritius, adhering to the regulatory requirements of the Malta Financial Services Authority and the Financial Services Commission in Mauritius. During the account registration process, traders are asked to choose between a Malta and Mauritius account. Although most features and benefits of these accounts are similar, it is essential to note that Malta applies more stringent (EU) regulations regarding the protection of deposits in case of a broker’s liquidation, offering protection of up to 95% of the first €20,000 held in the trading account. The Mauritius account, on the other hand, provides relatively limited deposit protection but compensates for this with higher leverage allowances. Risk-tolerant traders might opt for a Mauritius account to fully benefit from this increased flexibility.

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FXDD Pricing

FXDD’s ECN accounts operate on a commission basis, with a commission of $0.0299/1k or $0.299/10k for common currency pairs and $0.0499/1k or $0.499/10k for less common ones. The standard account, in contrast, is commission-free, though certain fees apply to both account types.

The spreads offered by FXDD are reasonably competitive, especially considering the brokerage’s zero commissions on its standard accounts and the extensive range of forex and other investment options available. Traders are advised to compare the spreads on various currency pairs, as these can vary depending on the currency.

Deposits on the FXDD platform are free, as is one withdrawal of funds per month. However, if a trader wishes to make multiple monthly withdrawals, a fee of $40 will apply to each one. A $100 wire fee is also applicable, with an additional $25 if the amount is under $100. In terms of FXDD’s fee structure, it is more cost-effective to withdraw one large monthly amount rather than several smaller ones.

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FXDD Reliability & Security

Reliability is crucial for any online trading platform, and FXDD’s 18 years of experience in the market have provided the company with ample opportunity to refine its offerings. With four supported platforms, including FXDD’s proprietary Webtrader, which offers web-based trading with full functionality, there is no room for error from a technical standpoint. FXDD performs well in terms of reliability, with effortless login and registration procedures that enable traders to use the system within minutes.

FXDD takes pride in their speedy execution and superior customer service. These key advantages of using the platform stem from the company’s dedication to making the trading process as easy and safe as possible. As with their platform offerings, the company excels in this department.

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Open an account with FXDD

The first step in becoming an FXDD user is registering an account. This process is relatively straightforward and can be completed in just a few minutes. After receiving a confirmation email, traders need to download the trading platform they chose during registration: MetaTrader 4 or 5, ZuluTrade, or the proprietary FXDD Webtrader, which launches automatically in a browser window. If a demo account is used, the login details will either be generated by the third-party trading platform or sent to the trader by email if they are using Webtrader.

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In terms of funding the trading account, FXDD offers several deposit options: bank deposit, credit or debit card, Neteller, and Union Pay. The deposit process is simple and easy, and no commissions are charged on deposits. The funds are usually available in the trading account instantly or within a few minutes, depending on the deposit method.

FXDD’s user interface is intuitive, and the platform offers a seamless trading experience, regardless of which platform a trader chooses. Each platform has its unique features and advantages, but all of them are designed to provide a smooth and efficient trading experience. With various platforms available, including mobile versions for iOS and Android, traders can manage their investments from anywhere, at any time.

Traders using the MetaTrader 4 or 5 platforms can access a wide range of built-in tools and indicators, while the proprietary Webtrader offers a user-friendly interface, suitable for beginners and experienced traders alike. The ZuluTrade platform, which focuses on social trading, allows traders to follow and copy the trades of successful forex traders, making it an excellent option for those looking to learn from others.

FXDD provides comprehensive educational resources, including video tutorials, webinars, and detailed market analysis to help traders of all levels improve their trading skills and decision-making. The platform also offers various technical analysis tools and charting capabilities, allowing traders to monitor and analyze market movements in real-time.

Customer support is a vital aspect of any trading platform, and FXDD takes this seriously. The platform offers multiple channels for support, including email, phone, and live chat. The customer service team is available 24/5 and is known for its responsiveness and professional attitude. This commitment to customer satisfaction further enhances the user experience on the FXDD platform.

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Conclusion

FXDD has established itself as a reliable and competitive online forex broker, offering a wide range of trading options and an extensive selection of platforms. With attractive low minimum deposits, a comprehensive range of assets, and a focus on customer satisfaction, FXDD is an excellent choice for both beginners and experienced traders.

The platform’s intuitive interface and user-friendly design, combined with its educational resources and market analysis tools, make it easy for traders to navigate and execute trades. Although it may not be available to US traders and only offers variable spread accounts, FXDD’s overall offerings make it a compelling option for those seeking a flexible and affordable trading platform.

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