FXDD Forex broker review — Everything you need to know

FXDD is the company’s trade name. FXDD Trading SAC is registered in Peru and is authorized to offer foreign exchange services. The broker has been around since 2002, making it one of the oldest Forex brokers in the market. However, its history is one with turbulent stories. The broker was registered and regulated in Malta and Mauritius, but it lost its licenses and is not regulated in Peru. This is a red flag as reputable brokers usually acquire more and more licenses and not the opposite, which seems to be the case with the FXDD broker.

In this unbiased FXDD review, we will assess the broker’s safety, accounts, payment options, assets, platforms, education, support, and more.

FXDD Overview of the website

The website of FXDD is well-organized, where all information is easily found, reflecting a decade of experience.

The website is responsive, and navigation is intuitive with a modern and simplistic design.

FXDD Accounts Reviewed

There are two account types offered: standard and premium. The standard account offers low spreads and is commission-free. However, the broker does not clearly list its spreads, which is a downside. The minimum deposit is 200 USD, and the minimum lot size starts at 0.01 lots. The account is claimed to be EA-friendly and scalper-friendly without partial fills.

The premium FXDD account also has a 200 USD minimum deposit and charges commissions for low spreads. However, the broker does not provide a list of spreads on this account either. Account base currencies are the same for both accounts are exactly the same, including USD, EUR, GBP, and JPY.

Traders can select whether they want to open an individual, corporate, or demo account for each of the trading account types, which is flexible.

Deposit and withdrawal options at FXDD

When it comes to deposits and withdrawals, the broker states that withdrawals are only available via methods used for deposits. Traders have to carefully select their deposit method to withdraw funds using the same payment option. There is a wide range of payment options accepted, such as Neteller, Sticpay, BCT, USDT MasterCard, UnionPay, and so on. Withdrawal proceedings usually require 1-3 business days.

FXDD Assets — What can you trade?

The broker provides access to many different asset classes, such as Forex pairs (majors, crosses, exotics), indices, commodities, stocks, and event cryptos. The vast majority of these assets are offered in the form of CFDs, enabling traders to instantly open buy and sell orders, including on stocks. The leverage varies depending on the asset selected. The lowest leverage is given for cryptos capped at 1:4. Indices and other assets have 1:100 leverage.

Trading platforms of FXDD

The broker provides access to advanced trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both of these platforms support custom indicators and Expert Advisors (EAs). The broker allows traders to use EAs, which is useful. Mobile trading is available through the mobile app of the MT5 platform and is accessible on both Android and iOS. There is 1-minute price data available for download, which is useful for backtesting purposes. The broker also offers free VPS service, which will enable traders to launch their EAs uninterrupted for 24/7.

Education at FXDD

When it comes to education, FXDD offers several resources. There is an FXDD blog, which is useful for education as it offers trading tips. From trading tools, there is Autochartist offered. With daily FX analysis, traders can have an idea about news and important developments. However, the broker does not offer webinars or trading courses for beginners, which is a downside. While the broker lacks comprehensive educational resources, the Autochartist will provide them with trading signals based on technical analysis.

FXDD Customer Support

The support at FXDD is provided via the live chat and email options. There is also phone support available from Monday to Friday (24/5), which is flexible. The support is multilingual, together with the website of FXDD, available in more than 5 languages. The availability of email is also important. The live chat is built into the website and also offers a help center to search for answers to frequently asked questions, which is competitive.

FXDD bonuses and promotions

The broker does not offer promotions or bonuses at the moment. There are no deposit bonuses or welcome bonuses available. There are no additional features offered, either, which is a downside as well.

Is FXDD your broker? Final verdict

FXDD has decades of experience as it has been around since 2002. The broker offers access to MT4 and MT5 platforms. However, the minimum deposit starts from 200 USD, which is slightly high. There are several asset classes available for trading, and traders can select between standard and premium accounts. The broker has switched from its two licenses to Peru and is currently only authorized in Peru, which is a downside. Overall, traders should be careful with this broker because of its withdrawal policies.

FAQs on FXDD broker

Where is FXDD based?

FXDD Trading SAC is registered in Peru and is authorized there, meaning the broker is based in Peru.

Can you withdraw from FXDD?

Yes, withdrawals are possible, but traders must use the same payment method they used for deposits.