I haven't had any problem with FXDD over 300 trades but ALL the brokers are cheating with Metatrader Manager, every day I can see the cropping short sideways or reversals, again today EXACTLY at the line, I just didn't know HOW, until I found youtube stop hunting.
- Reviewed by JJ, August 8, 2010. Rating = 7/10
OK broker. Get requote some time. spread on some pair is petty wide.
- Reviewed by FXhunter, July 17, 2010. Rating = 7/10
Great reliable broker with excellent customer support and easy deposit/withdraw policies. Great MT4.
- Reviewed by animassen, June 19, 2010. Rating = 9/10
Good experience, just slow execution during news events........otherwise very good service!
I believe it is valuable for traders to give feedback to each other about our experience with the brokers. For those of us who trade full time, it is important that we know who we are doing business with especially since so much is unregulated. I have been actively trading for over 3 years so I feel qualified to provide feedback. In that time, I have has several other brokers- in fact, I feel like I have tried just about all of them. Some are no longer still in business - mostly due to increased capital requirements from the NFA. I decided to do some research on the Brokerage which I have found to be most reliable. So I went to the FXDD website and in the section FXDD Capital, I was pleased to see that they are well capitalized- close to $44,500,000. Also, they are backed by a large reputable company.That is important to me. The reason is that I am relying on them to stay in business and continue with their fair trade execution and reliable customer service. We have enough to deal with in trading this market without worrying about whether our broker is fair or will stay in business.
I see many complaints about other brokers on this site and other sites. It is frustrating, while trying to be a successful trader to encounter broker problems. I suggest that anyone who is dissatisfied to open an account with FXDD. This is what I find while trading 8-10 hours a day in two live accounts: a stable and easy to use platform, respectful and helpful customer service, consistently tight spread which do not go crazy during news, excellent daily commentary on the market, quick deposits -usually same day or very next day (I usually wire since my bank does not charge), smooth withdrawals, easy to follow daily trade activity emailed to me, nice charting package, and (very importantly) very simple order system. These are basic needs in a broker but it is not necessarily common (as I said I have experienced other brokers!). There are times when you want a broker who, when the market is really fast moving, your needs as a trader are more than basic. That's when you really want a reliable broker. This is an important point to consider - because we are dealing with internet connections and data, it can happen that you need to call the trading desk. When I had other brokers besides FXDD, I could not get through to the trading desk. With FXDD they would promptly answer the phone and place my orders. It doesn't happen often but for me, it was clear that I could count on FXDD. In addition the support staff have always helped me with both computer issues and trading questions. I hope this helps others to be successful.
- Reviewed by shauna, April 6, 2009. Rating = 10/10
I think they do stop hunting and have also seen my computer lock up when it is moving or nothing happens for minutes before an update is made, so I wonder where I am. This happens too often to be an electronic problem. Executions are fast, often one click.
- Reviewed by JWA, April 1, 2009. Rating = 4/10
One word: "Screwed" !!!
- Reviewed by Shorty, March 12, 2009. Rating = 1/10
fxdd the best.
- Reviewed by forex2u, March 8, 2009. Rating = 9/10
In my opinion traders should run a mile away from this bucket shop. Champions in invalid prices (when prices are perfectly), chasing losses, poor customer service, requotes, disconnections, you name it they use every trick in the book. A real bucket shop.
- Reviewed by cesime, February 22, 2009. Rating = 1/10
Not good customer support. Lost all my money quickly. I think they are bucket shop.
- Reviewed by Jordan, February 4, 2009. Rating = 1/10
Good broker with no requotes. No commission charged, you only pay the spread. Only problem is connection breaks at random times, though not frequent to disrupt trading.
- Reviewed by edd, December 4, 2008. Rating = 8/10
I will never use FXDD as my trading platform again. They provide very bad service and the staff are very rude. So problems highlight to them they simply ignore or did not follow up or reply. If you don't believe try them you will know.
- Reviewed by Vincent, September 30, 2008. Rating = 1/10
Garbage broker, prob the worst I believe. I switched my account from Interbank to here but these guys are way worse - not regulated-customer service is sh**t also.
- Reviewed by rj, September 23, 2008. Rating = 1/10
I do not know why people say they are rude, they are simply honest. Emotions on the market are a killer to any trader. You have to be cold and smart. These guys walked me through account setup, explained many things about the market I did not know, and they didn't blow sunshine up my ass to get me to sign with them. I want my broker to be as blunt and honest as I am and FXDD fits the bill. If you want a broker who is going to turn the market into a fuzzy rainbow, then FXDD is not for you. If you want a broker who is going to be straight forward and to the point. Then this is where you should end up. 10 out of 10 (I researched every broker on this site and some that are not, this is who I ended up with by doing my own research, you should do the same.)
- Reviewed by Will, August 11, 2008. Rating = 10/10
At one point, I was preparing to become an IB for these people. Even at this level, they were very rude and extremely disorganized. With only having them and IBFX to choose from using MT4, I decided against the whole IB thing. I am a full time trader and am actually probably better off dropping the idea.
- Reviewed by rhowde, August 8, 2008. Rating = 1/10
The process to open an account is painful. This people seem not to care. I was very excited to open an account with them, after 2 weeks of waiting for the process to be completed they told me they didn't have some of my paperwork which I faxed twice. Definitely don't trust them with my money.
- Reviewed by Carly, July 11, 2008. Rating = 2/10
Stop hunting and widening spreads on GBPUSD up to 100 pips just to hunt you.
The sales reps are rude and won't answer. Application approval process is pathetic. Their demo account is reasonably ok. I guess if you have to deal with customer service, you need to have lot of patience!
- Reviewed by s2nseek, March 12, 2008. Rating = 3/10
Used them live for ~2 yrs. Fast withdrawal. No connections problem, spreads ok during slow market. During news, spreads can widen up to 60-90 pips. Strange unexplained spikes, after which they "mend" the data, so you can't really know the history. I left them.
- Reviewed by ilanr, January 12, 2008. Rating = 3/10
I have tried several brokers and have found them to have consistant slippage or other complications. With FXDD what I click is what I get. They have always deposited and withdrawn my funds the fastest of any broker I have tried.
Low spreads and MT4 makes it a good place for serious traders to end up. The spreads do widen at news times for a few moments and then normalize. To be expected, you can't jump a frieght train going 70 miles per hour without losing an arm.
You're not able to place limit orders and stops very close to spreads. If their market orders were not honored then this would be a problem. I have traded with them for a few years now get what I click for price.
Should be higher on the list than it is. Customer service is very knowledgable and helpful. I have had them credit my account when it was their fault and it went against me. That was once in 2 years and they credited my account the loss within a day.
- Reviewed by SOTBtrading, December 26, 2007. Rating = 10/10
Bucket shop, but have ok spreads and should be fine for a scalper in my opinion. Try FX Solutions (In my opinion they are the darn best out there)
- Reviewed by Epiphany, November 1, 2007. Rating = 5/10
This is my third FX broker. The first was FXSOL where I experienced some stop hunting, then CMS because I didn't know better, and now FXDD. Lot's of people complain about spreads during the news, but I think that is a given with all brokers so you have to expect it I guess. I trade the news, but AFTER is has been released when the spread gets back to 'normal'. Emails are answered withing a day and their MT4 platform has been down only once when they were doing an upgrade. When I called to 'check' on things I was immediately asked if I wanted to make a trade or move a stop. No problems there. Bank transfers take a few days, up to five, to show up but they always have. Either way, I'm pretty satisfied with them as an MT4 broker.
- Reviewed by Palmer, October 20, 2007. Rating = 7/10
They hold my money for 2 months without any reasons and ignore answer my emails!
- Reviewed by MMM, August 21, 2007. Rating = 1/10
These guys were terrible in their service - took them a week to answer a simple email. I used them when I first started trading about a year ago. I closed my small account...
- Reviewed by TSC, May 11, 2007. Rating = 1/10
I used to trade the news with this broker but after a few trades, which had good fills, I now ALWAYS get a 9006 Error message saying my order can't be filled due to technical reasons. Others who I know now get the dreaded 9006 error message during news times with their no fills. Bottom line is: they won't fill your order during news, otherwise they seem satisfactory.
- Reviewed by JoJoLucky, May 5, 2007. Rating = 3/10
Bad execution time during news events... too many off quotes. Customer service is okay though.
- Reviewed by colorgirl, September 1, 2006. Rating = 3/10
Not good for news trading...it's near impossible to get filled during news times and during NFP I have observed the spread widen to almost 25 pips - for technical trading they are a very good broker which is why I gave them a 5 instead of a lower number.
- Reviewed by hugoboss, August 28, 2006. Rating = 5/10