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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 Max Leverage accounts, you can trade with up to 1:1,000 leverage. It will be limited to 1:500 if the margin is 300,000 JPY or more, which is less stringent than other companies. Other accounts have a maximum leverage of 1:500, and there is no leverage limit based on margin. Traders can also benefit from the large number of instruments with positive swaps and free access to historical data.
The disadvantages of FXDD are the high stop-out level and the high minimum deposit. Even if you can trade with high leverage, you may need to limit your loss early or you may not be able to take advantage of it considering the margin and the number of lots you can trade.
Nonetheless, they are offering reasonable trading conditions and MetaTrader4/5, and this ease of use has been attracting even the old users who were away for a while.
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, Simplified Chinese, Vietnamese
[Europe and America] English, Spanish, Italian
[Middle East, Africa] Arabic
- Trading platform:
- MetaTrader4/5, WebTrader
- English support:
- Email, Support Chat, Phone
- Business hours:
- Weekdays 24 hours
- Email address:
- support@fxddtrading.com
- 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:
- [Standard] MetaTrader4/5
[Premium] MetaTrader4/5, WebTrader
[Cent, Max Leverage] MetaTrader4
- Brokerage model:
- [Standard, Cent, Max Leverage] STP method
[Premium] ECN method
- Spread method:
- Variable spreads
- Trading account currency:
- [Standard, Premium] Japanese Yen, US Dollar, Euro
[Cent, Max Leverage] Japanese Yen, US Dollar
- Maximum leverage:
[Standard, Premium, Cent] 1:500
[Max Leverage] 1:1000
- Initial minimum deposit:
- [Standard, Premium, Max Leverage] $ 200 (USD)
[Cent] $ 50 (USD)
- Lot size:
- [Standard, Premium, Max Leverage] 100,000 units
[Cent] 1,000 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]: 5
[CFD/Indices]: 10
[CFD/Energy]: 3
[CFD/Cryptocurrencies]: 4
[CFD/Stock]: 49
[CFD/Futures]: 1
- Available trading hours:
(Monday) 0:00 am - (Friday) 11:55 pm (Server time)
- Transaction fees:
- [Standard, Cent, Max Leverage] None
[Premium] $ 2.99 (USD)(*2)
- Account maintenance fee:
- $ 40-70 (USD) / month if an account is inactive for 90 days(*3)
- 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)The fee is per order (One way). Trading fees for ECN accounts are varied by symbol.
(*3)Depending on the period of inactivity
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 support@myforex.com.
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