THE GOOD

Seven platforms offer something for everyone:

If you're looking to try several different platforms or grow your trading skills with a broker that can meet your needs every step of the way, FXDD can work for you. Active traders will love the MTX commission-based platform to lower cost, and the Power Trader platform, which gives volume discounts on trades. Passive traders can use Mirror Trader to copy expert strategies. Professionals can use Viking to manage big-ticket trades, and intermediate traders may excel on the highly customizable Swordfish platform. FXDD also provides the industry-leading MetaTrader 4 platform.

Platform Guru helps you choose your best platform:

To choose the right platform for your trading style, follow the Platform Guru's wizard and answer the questions for tailored suggestions on the proper platform. This tool is helpful for beginners who may not be accustomed to some of the forex lingo.

Low deposit requirements:

Deposit requirements vary by platform, but those of FXDD are generally low compared to other brokers. Beginners can open a micro account with no initial deposit and the Meta Trader account is free to open, although FXDD recommends a $250 initial deposit to get started. Other forex brokers, like TradeKing, require a $500 deposit and ATC Brokers starts at $5,000.

Two trading plans to choose from based on activity:

High-balance and high-volume traders can take advantage of reduced fees by signing up for FXDD Extreme Spreads. This option works by tightening the spreads on forex trades as low as 0.8 pip, and charging a $3 commission per side. Micro lot traders and small balance traders will want to stick to Standard Spreads because of the fixed extra commission on Extreme Spreads.

Choose how you want to learn with robust educational resources:

A large YouTube library enables visual learners to pick up tips on FXDD platforms or learn the most advanced charting setups. Readers can choose to work at their own pace by tapping the comprehensive reading materials on basic forex concepts and more advanced trading techniques. All materials are created by an in-house team of forex analysts and experts.

THE BAD

Dealing Desk:

FXDD is registered with the National Futures Association as a Direct Dealer. This means that FXDD maintains their own book of business and has the potential to take the other side of clients' trades. Traders requiring the highest level of transparency from their broker will want to look at other options. Check out Forex.com, FXCM, or ATC Brokers.

Other investments for U.S. customers limited to metals and oil:

As with many forex brokers, other investment options are limited. Integrated stocks, futures and options trading may be preferred by well-rounded traders. While traders in the U.S. don't have access to options trading, it is available through FXDD Global, the overseas affiliate of FXDD. The company does plan to provide access to binary options in the future, which is currently available for demo trading. FXDD does provide access to metals and oil, which at least adds some other options, but that may not suffice for some.

THE DETAILS

Costs and Fees
Forex Trade $20
Forex Trade Cost Type Pips
Futures Trade N/A
Mininum Deposit $0
Options Trade N/A
Stock Trade N/A
Trading Details
Clearing Method ECN
Maximum Leverage (International) 200:01:00
Maximum Leverage (U.S.) 50:01:00

FEATURES

Title
  • Account History Reports You can create reports or view statements of your portfolio or account information.

  • Download Statements You can download your account statements.

  • Export Data You can export your portfolio or account data.

  • Gain/Loss You can run gain and loss reports for tax planning.

  • Order Status and Balance You can quickly view your current trading positions, open orders, and account balance.

  • Real-Time Updates Your account balances update in real time.

  • AUD/JPY The broker offers trading in the Australian Dollar vs. Japanese Yen currency pair.

  • CAD/JPY The broker offers trading in the Canadian Dollar vs. Japanese Yen currency pair.

  • CHF/JPY The broker offers trading in the Swiss Franc vs. Japanese Yen currency pair.

  • EUR/AUD The broker offers trading in the Euro vs. Australian Dollar currency pair.

  • EUR/CHF The broker offers trading in the Euro vs. Swiss Franc currency pair.

  • EUR/GBP The broker offers trading in the Euro vs. British Pound currency pair.

  • EUR/JPY The broker offers trading in the Euro vs. Japanese Yen currency pair.

  • GBP/CHF The broker offers trading in the British Pound vs. Swiss Franc currency pair.

  • AUD/USD The broker offers trading in the Australian Dollar vs. the US Dollar currency pair.

  • EUR/USD The broker offers trading in the Euro vs. US Dollar currency pair.

  • GBP/USD The broker offers trading in the British Pound vs. US Dollar currency pair.

  • NZD/USD The broker offers trading in the New Zealand Dollar vs. the US Dollar currency pair.

  • USD/CAD The broker offers trading in the US Dollar vs. Canadian Dollar currency pair.

  • USD/CHF The broker offers trading in the US Dollar vs. Swiss Franc currency pair.

  • USD/JPY The broker offers trading in the US Dollar vs. Japanese Yen currency pair.

  • Alerts You can set up personalized alerts for your portfolio.

  • Automated Trading You can place trades by setting automated triggers.

  • Conditional Orders You can place orders that, when executed, immediately triggers or cancels another order.

  • Customizable Interface Layout and features of the trading platform can be customized and changed.

  • In Chart Trading You can use the charting tools to actually place trades.

  • Real-time Charts Real-time updating charting tools are available through the broker.

  • Real-time Quotes Up-to-date price quotes are available in real time.

  • Email You may access customer support by email.

  • Live Chat You may access customer support by live chat.

  • Phone You may access customer support by phone.

  • Trading Hours Support You may access customer support during the majority of trading hours.

  • Android The broker provides an app for Android devices.

  • Create Alerts You can create alerts with one or more of the mobile trading applications.

  • Favorable App Store Reviews Three or more stars have been awarded to the broker's iPhone app from users in the Apple App Store or Google Play.

  • iPad The broker provides an app for the iPad.

  • iPhone The broker provides an app for the iPhone.

  • Mobile Research Research features are available using one of the mobile applications.

  • Mobile Website The broker offers a separate mobile website for accessing your account from a mobile web browser.

  • Place Trades You can place trades using your mobile device.

  • Portfolio Tracking You can track your portfolio using a mobile device.

  • Streaming Quotes Streaming quotes on mobile devices are available.

  • BlackBerry The broker provides an app for BlackBerry devices.

  • Charts You have access to charts so you can conduct research on investment products.

  • Historical Data The broker gives you acess to historical exchange rate data.

  • Market Commentary You have access to market commentary from outside experts.

  • News You have access to daily market news and updates from third party services.

  • Research Reports The broker provides you with various research reports.

  • Mobile The broker offers a platform to execute trades on a mobile device.

  • Professional The broker offers multiple platform levels including a professional platform.

  • Standard The broker offers multiple platform levels including a standard platform.

  • Virtual Trading The broker offers a virtual account for customers to practice trading without risking any actual money.

  • Free Demo You can access a free trading demo so you can try one of the trading platforms.

  • Special Offer Special offers for new traders who open an account are available.

  • Referral Program You can be rewarded for referring a friend to the broker.

  • CFDs The broker provides other instruments settled as Contract for Difference

  • Futures The broker provides trading of some futures products.

  • Options The broker provides trading of some options products.

  • Stocks The broker provides trading of some stocks.

  • Courses You can access educational trading or investment courses from the broker.

  • Glossary A glossary of important investment terms is provided by the broker.

  • Live Seminars You can attend live in-person seminars around the country from the broker.

  • Trader Community You have access to an online community to have discussions and share advice with other traders.

  • Videos You can view training videos on the broker's platform.

  • Webinars Webinars are available to help you learn about investment products.

Comparable


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