FXDD Broker Review and its Compliance with Ease

FXDD brokerage, primarily owned by Triton Capital Markets Ltd., registered in Malta in 2010, poses a potential dilemma for traders. While it claims authorization from FINTRAC for forex services in Canada and holds regulation from MFSA (Malta), additional low-tier regulations from Mauritius FSC and FSA Labuan raise questions. Notably, FXDD lacks Tier 1 licenses such as FCA, BaFin, or ASIC, with past issues in 2012 and 2013 involving NFA and CFTC.

Understanding FXDD’s Client Base
Despite an extensive regulatory framework, FXDD imposes regional restrictions, excluding services in the US, UK, Japan, North Korea, and others. Traders predominantly originate from countries like Japan, the United States, Egypt, Saudi Arabia, and Peru. Traders from other countries are encouraged to share their experiences and seek refund advice.

Traders’ Reviews and Concerns
Surprisingly, given its inception in 2002, FXDD has a minimal 12 reviews on Trustpilot, with 25% expressing dissatisfaction. Traders facing issues are advised to consult with experts for guidance.

Leverage, Costs, and Trading Features
While FXDD provides transparent spreads, they tend to be costly, with major pairs starting from 1.8 pips for standard accounts. ECN accounts offer more favorable spreads below 1 pip but entails minimum commission fees. Caution is advised regarding leverage, which exceeds EU regulatory limits (1:30). FXDD features the popular MT4 and MT5 platforms, catering to a range of trading styles.

Available Trading Assets and Account Types
FXDD offers traditional assets in forex, commodities, shares, and indices. The broker provides two account types, Premium and Standard, with the flexibility to choose between MFSA and FSC regulations.

Mobile Trading App and Demo Account
Dedicated mobile apps for MT4 and MT5 are available, offering flexibility to traders. Despite the availability of a demo account, concerns arising from past malfunctions and settlements with CFTC may warrant caution.

Education, Withdrawal, and Customer Support
FXDD lacks specific educational packages but provides various trading tools. Withdrawal policies, processing times, and methods are undisclosed, and the broker imposes fees for redemptions below $7,000. Customer support is available through various channels during specific hours.

Key Considerations About FXDD
While licensed, FXDD may not match the reliability of Tier 1 licensed firms. Operating since 2002 and featuring a low minimum deposit, traders may consider giving it a chance. However, any encountered issues should prompt immediate consultation with experts for detailed advice.