About FXDD
Based in New York, FXDD is a leading online retail forex broker. Their diverse clientele includes retail traders to hedge funds.
FXDD’s business model is to provide interbank market maker prices to clients, avoiding the conflict of interest where some firms may put their trading P/L ahead of them.
Being associated with FXDD gives customers peace of mind. Client funds are not treated as segregated funds, are not insured and do not receive priority in the event of bankruptcy. Be assured with complete security of margined funds.
In addition to FXDD’s complete security of margined funds, FXDD’s trading platforms are fully redundant and secure applications. Their applications were built with the latest technology to insure that you can enjoy un-interrupted service 24-hours a day. They also employ a multi-level security scheme that protects your information while maintaining confidentiality.
FXDD does not charge a commission on transactions executed on its standard retail platforms. There are also no hidden setup fees for opening an account. FXDD also offers Commission-based platforms for institutional accounts.
Marathan Alliance Capital Corp. (MACC) is compensated through a portion of the bid/ask spread – a cost that you would normally incur in trading through this dealer. If you are having an account manged for you, there may be instances where MACC is compensated in addition to the bid/ask spread through performance based fees and/or volume based commission. If this is the case, you will ALWAYS be aware of it, and will be required to sign an acknowledgment that you understand this is the case.
Products
Platform Comparison
FXDD offers five trading platforms, including three retail and one institutional.
The MetaTrader platforms (MetaTrader 4 [MT4] and MTXtreme) are the most widely used by retail Forex traders, and when a demo account is requested MT4 is the default platform provided.
If you are interested in any of the other FXDD trading platforms, please contact us for more information.
MetaTrader
MetaTrader 4 (MT4) possess a powerful, easy to learn programming languages MQL Using this language, you can create custom trade strategies, indicators, automate strategies or trading systems and scripts. Expert advisors can analyze the situation on the market, make decisions, put pending orders, and open positions in on-line mode without trader’s participation.
MetaEditor is built into the MT4 platform and highlights different constructions of MQL programming language and is used for writing the program code. It helps users easily orient themselves in the system text. Use MQL editor language dictionary as a help system for MQL language. Built in users guide contains functions divided into categories, operations, reserved words, and other language constructions and allows finding the description of every element used. To access MQL editor download the MT4 platform above and chose MetaQuotes language editor from the tools on the main menu.
MTXtreme
MTXTreme is the FXDD’s latest product offering and is designed specifically to offer the best multi-bank pricing with the reliability and functionality of the MetaTrader trading platform.
It provides high-volume forex traders with the best bid/offer pricing available and often spreads of one pip or less on the majors.
Download MTXreme 90-day Free Demo!
Complete the form below to receive a FREE 90 day trial!
Resources
FXDD offers a wide variety of resources including:
Help and Tutorials
About FXDD
Demo Accounts
Live Accounts
Deposit / Withdraw Funds
- All-in-one trading and charting software package
- Learn for FREE – 30-day free trial!
- Easy-to-use
- 24-hour access
- Instant trade execution
- Available in 14 languages
- MQL4 automated trading and expert advisors
- Historical charting data with various time frames (minutes – years)
- Over 30 technical indicators included
- Trailing stops
- Email and text message alerts
- Confidentiality of your trades
- Unparalleled trade support
- NEW!! View account statements on the web!
An MT4 user guide has been built into the trading platform. Simply download MT4 and go to help screen.
MT4 Users Guide: Help / Help Topics or press the F1 to access.
MT4 Editor Guide: Tools / MetaQuotes language editor / Help / Help Topics
Yes. Access to all customer trading records is available online via the reporting functionalities of the trading platforms or through FXDD’s online report viewer option for managed clients.
Yes. The USA and Canada toll- free number is: 1 (866) 367-3933. Customer service and support is available 24-hours a day from 5 pm EDT on Sunday to 4 pm EDT on Friday.
No. FXDD will not charge commissions on trades made by self-directed clients on either the FXDD trader or MetaTrader platforms. FXDD is a commission free broker and earns its income from the spread. If a client signs up for an account that is being managed by a trader or Introducing Broker (IB), however, the IB or money manager may charge a commission.
Yes. FXDD offers the same superior execution-rollover rates, charts, and spreads for a mini and standard account.
Yes. FXDD offers both lot allocation and percent allocation facilities available to money managers. For specific terms and conditions send a request to FXDD’s Sales Department detailing specific needs and a representative will be in contact.
At this time FXDD provides live spot FX prices for 20 currency pairs. Check back in the near future for offerings on certain precious metals, such as gold and silver, as well as additional currency pairs.
Yes. If any account equity is less than $5,000.00 USD, a micro account on MetaTrader 4.0 is appropriate. Trading in 1,000 base currency units (or dollar) increments on the MetaTrader 4.0 platform is the standard.
The maximum leverage FXDD offers is 200:1. Certain terms and conditions apply. If different leveraging is required, please send an email to FXDD’s Sales Department. Describe the requirements in detail. Requirements will be promptly reviewed and a representative will be in contact with a response.
Yes. The function of a “dealing desk” is the subject of much speculation in the Forex business these days. Some firms promote the fact of “no dealing desk.” In all cases of retail trading, the pricing the customer sees is the pricing the customer receives.
Dealers, such as FXDD, receive institutional level liquidity [pricing] from their global banks and then, with the spread widened, stream them out to their customers. Does this mean that customers are guaranteed no slippage on all orders? No. In times of extreme volatility, clients will not always get the price they clicked on. The market is a dynamic event and prices change quickly and latency may affect pricing. The critical factors here are the volatility of the market and the latency of the connection. The role of FXDD’s dealing desk is to manage the liquidity streams between them and their market makers and to ensure that the customers always enjoy competitive pricing and spreads.
No. Currently, US law does not permit forex funds to be held in segregated accounts regardless of where the funds are held.
Opening a demo account is a great way to get a feel for live trading; for a free demo, please sign up here!
A demo account is good for 90 days, beginning the first day of sign-up.
On the 90th day, your account will become inactive. If you require additional time before opening a live account, you may register for more than one demo account on either of our platforms. Also, you may email FXDD’s Support Department to request an extension for a demo account. Based on certain terms and conditions, customers with active live accounts can also have non-expiring demo accounts.
The demo accounts for both platforms mirror exactly what you will see if you sign-up for a live account. The pricing and spreads are the same in demo and in live accounts.
Demo accounts are only good for practicing trading using virtual funding. As this is only virtual play money, no profits or losses are awarded to customers.
Demo trading is only available during regular trading hours (Sunday 5 p.m. through Friday 4 p.m. EST).
Also, micro-lot trading is available only for live trading accounts.
Once the platform is downloaded, simply go to:
- “File” then click “Open an Account” (note the ”Open an Account” screen may appear automatically when logging in).
- Fill in the brief information required and click on the box “I agree to subscribe to your newsletters”.
- Click “Next” two times.
- After clicking ”Next” the second time, login and password are provided. Write down this information for your records. The information, however, is not required.
- After clicking “Finish,” the system will automatically log you into the new demo account to begin trading.
- On the top left corner of MetaTrader, your demo account number will be displayed.
Yes. To download the appropriate version of MetaTrader Mobile go to: http://www.fxdd.com/forex-trading-software/metatrader.html
Expert Advisor is a scripting tool offered in the MetaTrader platform. The tool allows a user to program and implement their own trading algorithm. For more information about this feature, please visit http://www.metaquotes.net/experts/mql4/.
Expert Advisor is offered to all accounts including mini accounts.
Yes, click here to access the online live account registration form.
The Mini’s smaller contract size allows for familiarization with the FXDD trading platform; offers experience with FXDD’s superior execution assists with the learn curve when new to trading in the forex markets; thereby reducing risk.
The Mini account also leverages the same tight spreads as a Standard account. The initial required minimum deposit for a Mini account is $250 USD. With a Mini account a trader typically trades lots of 10,000 units of the base currency. Although, it is possible to trade bigger lots based on available margin.
- Minimum Deposit – $250 USD
- Lot Size – 10K units
- Maximum Leverage – 200:1
A Standard trading account is appropriate for people who can contribute more capital to a speculative risk/reward investment.
- Minimum Deposit – $2,000 USD
- Lot Size – 100K units
- Maximum Leverage – 100:1
The following completed documents are required:
- US residents:
The Client Application, the Signature Page of the Customer Account Agreement and a W9 form. If the account will be managed by a trading agent, a Limited Power of Attorney (LPOA) and appropriate commission acknowledgment form may also be required.
- Non-US residents:
Please include the Client Application along with two forms of ID (1 picture ID), IRS Form W-8BEN, the Signature Page of the Customer Account Agreement. If the account will be managed by a trading agent a Limited Power of Attorney (LPOA) and appropriate commission acknowledgment may also be necessary.
Nothing. Neither FXDD nor Chase charges a wiring fee. If a charge has taken place on any incoming wire to FXDD, please contact your personal bank and ask about their wire transfer policy, as it may differ.
Our online account application form allows you to complete and sign all necessary documents online.
The exception is that you must provide two forms of ID if you are not a resident of the USA. You may also print, scan and email documents to our Sales Department, fax the forms to: 212-937-3845 or mail to the following address:
New Accounts Department
FXDD
75 Park Place, 4th Floor
New York, NY 10007
Yes, you can trade Gold and Silver with FXDD on the FXDD Trader Platform.
Download the Funds Redemption Form.
The FXDD Funds Redemption form needs to be filled out and submitted by FAX to: +1.212.937.3845. Please note, US federal law prohibits FXDD from redeeming funds to a bank account or person that is different than the name and account used to open the account.
To close your account, follow the steps above. Please note that an FXDD account will never be closed, but money can be withdrawn and deposited at any time.
FXDD only accepts deposits in USD. You may wire funds in any deliverable currency but please be advised that your bank will convert your local currency into USD before remitting the funds to FXDD to your account.
Income reporting is the responsibility of the individual customer. You should discuss this matter with your tax advisor.
In the net worth line you should fill in the roughly estimated value of all your assets, minus all your liabilities. In the liquid net worth line you should fill in the estimated amount of your net assets (assets minus liabilities) that can easily be converted into cash. Please note that this is an estimate. FXDD may require a client to fill out additional forms to complete the application process.
Yes. FXDD accepts credit card deposits through PayPal.
FXDD uses JP Morgan Chase Bank for customer deposits.
No, FXDD does not offer FDIC insured accounts.
Funds can only be transferred from the bank account listed on the form, or a matching name from a different banking account.
Visit FXDD’s Deposit Funds page for more details.
FXDD does not charge a wiring fee for incoming and outgoing wires.
It usually takes JP Morgan Chase 5 business days to clear a personal check, but of course we will be monitoring the account and we will notify you immediately.
