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FXDD Review
FXDD is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies.
Pros
- Segregates client funds
- Established in 2002
- Regulated by MFSA
- Min. deposit from $1
Cons
- Doesn’t allow hedging (See alternatives)
- Limited range of instruments
- Not FCA Regulated (See alternatives)
A minimum deposit of $1 is required to establish a live account. Alternatively, FXDD provides a demo account that you may use to experiment and become acquainted with their platform.
Regulated by Malta Financial Services Authority (MFSA, license: IS/48817), FXDD keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. FXDD has been in business since 2002 and has its headquarters in the United States.
Before we get into the specifics of FXDD’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are FXDD’s spreads & fees?
Like most brokers, FXDD takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commissions and spreads shown here are based on the FXDD website’s minimum spreads.
| Forex | FXDD | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 1.6 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 1.8 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 1.6 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 1.7 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 2.0 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 1.8 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 1.8 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 1.7 pips | 0.5 pips | 0.1 pips |
Spreads are dynamic and are for informational purposes only.
As you can see, the minimum spread for trading EUR/USD at FXDD is 1.6 pips, which is rather high when compared to the average EUR/USD spread of 0.70 pips. The table below compares how much it would cost to trade one lot of EUR/USD with FXDD against other brokers.
How much does FXDD charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with FXDD at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $13.7. Here is a general breakdown of the fees and how they compare to IG and XTB.
| FXDD | IG | XTB | |
| Spread from: | $ 16.00 | $ 6.00 | $ 2.00 |
| Commission: | $0.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 16.00 | $ 6.00 | $ 2.00 |
| $10 less | $14 less | ||
| VISIT FXDD | VISIT IG | VISIT XTB |
All fees/prices are for informational purposes and are subject to change.
What can you trade with FXDD?
FXDD provides over ten different trading instruments, covering over currency pairings. We’ve summarised all of the different types of instruments supplied by FXDD below, along with comparisons to the instruments offered by IG and XTB.
| FX / Currencies | FXDD | IG | XTB |
| # of forex pairs offered | 90 | 48 | |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | |
| Exotic forex pairs | Yes | Yes | |
| Cryptocurrencies* | No | Yes | Yes |
| Commodity CFDs | FXDD | IG | XTB |
| # of commodities offered | 34 | 21 | |
| Metals | Yes | Yes | Yes |
| Energies | No | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Index & Stock CFDs | FXDD | IG | XTB |
| # of stocks offered | 10 | 8000 | 1606 |
| UK shares | No | Yes | Yes |
| US shares | No | Yes | Yes |
| German shares | No | Yes | Yes |
| Japanese shares | No | Yes | Yes |
| SEE FXDD’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the FXDD trading experience like?
1) Platforms and apps
FXDD is one of the few brokers that provides both the MT4 and MT5 MetaTrader platforms. You may read our MT4 versus MT5 comparison to see how the two platforms compare.
They also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
Still not sure?
Open a practice account & learn to trade
2) Executing Trades
FXDD may have lower entry criteria as a market maker than an ECN broker, which benefits from a higher volume of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that FXDD offers its traders below.
Trading Features:
- Allows scalping
- Low min deposit
Accounts offered:
- Demo account
- Micro account
- Mini account
- Standard account
- Managed account
- Islamic account
Funding methods:
- Bank Transfer
3) Client support
FXDD supports a limited number of languages including English, Italian and Portuguese.
4) What you’ll need to open an account with FXDD
Since FXDD is regulated by the MFSA, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is crucial to note that you will not be able to execute any trades until you pass compliance, which might take several days depending on your circumstances.
To start the process of opening an account with FXDD you can visit their website here.
79% of retail investor accounts lose money when trading CFDs with this provider.
