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FXDD
Founded in the United States in 2002, FXDD is a pioneering broker of Forex services to individuals. At one point, it was very popular, with a large support team in a skyscraper in New York.
However, the popularity has been declining due to the birth of many emerging brokers and the aftermath of zero cut shock of the Swiss franc. On the other hand, it is an FX broker that has been operating for a long time, has a reputation for the ease of use, and is still being used by regular traders.
With FXDD's Standard and ECN accounts, you can trade with up to 1:500 leverage. For ECN accounts, the average spread is at a medium level of USD/JPY 0.3pips and EUR/USD 0.3pips, and the transaction fee is at a medium level of $ 2.99 (USD) or more one way. Since they are mainly operating for Japanese customers, customers may trade Rand / Yen and Norwegian Krone / Yen as well, which are not usually offerd by other Forex brokers.
The disadvantages of FXDD are that it requires additional margin when trading at a high leverage, and that it does not have a financial license. Currently, FXDD is only registered as a corporation in Bermuda, and in fact does not have a financial license. Regarding support, although provided by phone, email, and chat, it seems that chat is difficult to connect during the day and the response by email is not stable.
However, in terms of trading environment and other conditions, they have a reasonable environment, and MetaTrader4/5 is available, and there cases where traders who have been using it for many years and traders who have been away for a while starting to use it again due to its ease of use is increasing.
Pros
- Long operating history
- Wide range of JPY currency pairs
Cons
- Unstable support
- Zero cut problems in the past
- Additional margin required in some instances
Operating Company
- Company name:
- FXDD Trading LTD
- Head office address:
- Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda
- Financial supervisor:
- None (Corporate Registration in Bermuda Monetary Authority)
- Founded:
- 2015
- Capital:
- Undisclosed
Customer Service
- Website language:
[Asia] Japanese, Chinese, Vietnamese
[Europe and America] English, Spanish, Italian, Portuguese
[Middle East, Africa] Arabic
- Trading platform:
- MetaTrader4/5
- English support:
- Email, Support Chat, Phone
- Business hours:
- (Weekdays) 24 hours
- Email address:
- [email protected]
- Phone number:
- (+1) 212-720-7200
Trading Rules
- Roll over:
- 0:00 (Server time)
- Margin call:
- None
- Loss cut:
- When the margin maintenance rate falls below 50%
- Matched order:
- Permitted
- EA restrictions:
- None
- Request for additional margin:
- None
- Funds management:
- Managed in a segregated bank account
- Bankruptcy compensation:
- Full deposit compensation is not guaranteed
Conditions for Each Account Type
- Trading platform:
- MetaTrader4/5
- Brokerage model:
- [Standard] STP method
[ECN] ECN method
- Spread method:
- Variable spreads
- Trading account currency:
- Japanese Yen, US Dollar, Euro, Pound
- Maximum leverage:
1:500
- Initial minimum deposit:
None
- Lot size:
- 100,000 units
- Minimum order size:
- 0.01 lot
- Maximum order size:
- 50 lots
- Maximum open orders:
- 5,000 lots
- Instruments（symbols）:
[FX/Currency Pair]: 51(*1)
[CFD/Metals]: 7(*2)
[CFD/Indices]: 13(*3)
[CFD/Energy]: 3
[CFD/Cryptocurrencies]: 7(*4)
[CFD/Stock]: 49
- Available trading hours:
(Monday) 0:00 am - (Friday) 11:55 pm (Server time)
- Transaction fees:
- [Standard] None [ECN]
$ 2.99 (USD)(*5)
- Account maintenance fee:
- None
- Holding multiple accounts:
- Permitted
- GMT time difference:
- [MT4] Daylight saving time: +3 hours, Winter time: +2 hours
(*1)50 FX/Currency Pairs are tradeable with MT4.
(*2)6 CFD/Metals are tradeable with MT5.
(*3)11 CFD/Indices are tradeable with MT5.
(*4)4 CFD/Cryptocurrencies are tradeable with MT5.
(*5)The fee is per order (One way). Trading fees for ECN accounts are varied by symbol.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
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