What do you think about FXDD? | Forex Factory

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What do you think about FXDD?

  • Poll

  • How would you rate FXDD Malta?
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  • #1
  • First Post: May 20, 2011 2:15pm May 20, 2011 2:15pm
I presently pitch my live account tent with FXDD (Forex Direct Dealer) Malta and really have had a nice experience so far with them however, I can't seem to be able to wrap my head around why they get mixed reviews online therefore I am embarking on trying to figure out what traders think about the brokerage firm and why?

You can write your reason for your choice as a post to the thread.

PS: Please do not post or vote here if you have neither personally used them as your broker before or presently do.
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  • #2
  • May 20, 2011 2:22pm May 20, 2011 2:22pm
I chose excellent because of;

1) Great customer service

2) Fast crediting of account and withdrawals

3) Easy account opening process

4) Good platform and micro-account provision.
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  • #3
  • May 26, 2011 6:00am May 26, 2011 6:00am
Before I had a chance to withdrawal my money, everything is OK. Fast execution order etc.

But since I withdrawal my profit, my account is getting slower, often off quote message appear (I don't know what the meaning is this). I get invalid price every times. I have to repeat my order 5-7 times before it execute. The market is slow and have no big news impact.

I have been complaining to their customer service, they say it was my internet connection to blame. I choose the best internet provider that I can rely on. My connection with other account broker just fine.

Yes, I took 100% profit in just two weeks, but that not a reason for FXDD to harder my account for getting profit. By the way withdrawal process just took 2 days via wire.
  • #4
  • May 26, 2011 6:09am May 26, 2011 6:09am
Quoting koi99
Before I had a chance to withdrawal my money, everything is OK. Fast execution order etc.

But since I withdrawal my profit, my account is getting slower, often off quote message appear (I don't know what the meaning is this). I get invalid price every times. I have to repeat my order 5-7 times before it execute. The market is slow and have no big news impact.

I have been complaining to their customer service, they say it was my internet connection to blame. I choose the best internet provider that I can rely on. My connection with other account...
From what you said I would assume that you are a scalper. Don't think that is fair if they are trying to stop you from making profit by slowing down your account.
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  • #5
  • May 26, 2011 6:56am May 26, 2011 6:56am
Quoting ajantala
From what you said I would assume that you are a scalper. Don't think that is fair if they are trying to stop you from making profit by slowing down your account.

My friend opened live account with them last week. So Far everything is fine. I'll post more detailed feedback later.
  • #6
  • May 27, 2011 1:37am May 27, 2011 1:37am
Quoting ajantala
From what you said I would assume that you are a scalper. Don't think that is fair if they are trying to stop you from making profit by slowing down your account.
Yes I am scalper. Fair because I get my money back and now I'm using others people money to trade.

The good thing is today my account seems back to normal, no more requote.
Who knows in the future.

I think this forum is more effective than complaining with their CS.
  • #7
  • May 27, 2011 2:27am May 27, 2011 2:27am
Quoting koi99
Yes I am scalper. Fair because I get my money back and now I'm using others people money to trade.

The good thing is today my account seems back to normal, no more requote.
Who knows in the future.

I think this forum is more effective than complaining with their CS.
LOL @ that...
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  • #8
  • Jun 2, 2011 4:37pm Jun 2, 2011 4:37pm
Got an 8 pips slippage on a pending order I placed today! There was no serious news then so i wonder why the slippage!? To be sure I always trade my live account alongside the demo and the demo was filled immediately but the live ...8 pips slippage!

I'll let this pass for now but if it repeats itself again I am gonna start getting busy with FXDD men!
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  • #9
  • Jun 3, 2011 9:44pm Jun 3, 2011 9:44pm
I get more off quote in these past three days, I don't know why.
When I place the trade its says your order successfully place at... without the OK sign, but 0.1 sec later I get the off quote message appear. I try again and it repeated 5 times.

I often get slippage when trading the news. Sometimes I get 16 pips. If you place SL at BE you will be stopped at BE - (0.2 to 2.3) pips.

Maybe I should stop trading with them and take my profit while I still have a chance. Damn broker, always trouble when you are winning.
  • #10
  • Jun 3, 2011 10:54pm Jun 3, 2011 10:54pm
I have been with fxdd for more than 6 years ( fxdd malta since 6 months) with quite a big account(50K). Never got any problem with them. I like them because of the good swap and their regular deposit promotions. Strategy : carry trades.
They do not have deposit or withdrawal fees.
  • #11
  • Jun 6, 2011 12:40am Jun 6, 2011 12:40am
Quoting forexwoman
I have been with fxdd for more than 6 years ( fxdd malta since 6 months) with quite a big account(50K). Never got any problem with them. I like them because of the good swap and their regular deposit promotions. Strategy : carry trades.
They do not have deposit or withdrawal fees.
May I know if you already took all of your initial capital away?

I did plus profit, for two weeks . I think that's why FXDD messing up my account.
  • #12
  • Jun 6, 2011 3:18am Jun 6, 2011 3:18am
Why did you pock FXDD in Malta when there are so many other brokers that are better regulated and offer the same if not better trading conditions...
  • #13
  • Jun 6, 2011 5:23am Jun 6, 2011 5:23am
Quoting praky
Why did you pock FXDD in Malta when there are so many other brokers that are better regulated and offer the same if not better trading conditions...
I use FXDD Malta with Introducing Broker, that offers me leverage 1:400 when your account under 3K$ plus bonus money.
When your account already comfortable plus profit, I think hard to leave to other broker.
That's why I want my account back to normal like before I withdrawal the money. If not I have to find another broker.
  • #14
  • Jun 14, 2011 4:57am Jun 14, 2011 4:57am
Congratulation, now you have found this pattern. You are completely right. i had same experience before, When you withdraw yr profit, then they will move your account to different "group" which likely cannot trade. They are crook.

Better choose other brokers.

Quoting koi99
Before I had a chance to withdrawal my money, everything is OK. Fast execution order etc.

But since I withdrawal my profit, my account is getting slower, often off quote message appear (I don't know what the meaning is this). I get invalid price every times. I have to repeat my order 5-7 times before it execute. The market is slow and have no big news impact.

I have been complaining to their customer service, they say it was my internet connection to blame. I choose the best internet provider that I can rely on. My connection with other account...
  • #15
  • Jun 14, 2011 10:52pm Jun 14, 2011 10:52pm
Hi

Are they really a large broker?

May be "one" broker will acquire FXDD soon)))
It is just M&A
  • #16
  • Jun 15, 2011 2:31am Jun 15, 2011 2:31am
Quoting slovforex
Hi

Are they really a large broker?

May be "one" broker will acquire FXDD soon)))
It is just M&A
They look like big enough!

Ofter 3 week with them - everything is fine.
  • #17
  • Jun 15, 2011 2:46am Jun 15, 2011 2:46am
Quoting josef
They look like big enough!

Ofter 3 week with them - everything is fine.
Good.

If you notice smth SL-hunting, please post it here!
  • #18
  • Edited 8:40pm Jun 26, 2011 8:39pm | Edited 8:40pm
I have been with FXDD for over 3 years. I always liked their liquidity and fast response. But the main thing I liked about them was their fixed spreads. Not any more. This week's opening hours had crazy spreads. The U/CHF was at 15, 10, 7 - all over the place. Now it is back (4 hours after opening) to the normal 4-5 pips. The E/U was between 4 and 6 pips and now is back to the normal 2-3 pips. What is going on?
  • #19
  • Jun 27, 2011 6:19am Jun 27, 2011 6:19am
I found out that FXDD has been giving my trades too much slippage of recent. It was not this bad when I started but now that my account is profitable they have never been able to place any trades I have been taking since 2-3 weeks ago on time. An average slippage I have experienced so far is btw 8-12 pips! They could as well increase their spreads to such values instead of enforcing slippage on every trade!

My trading system needs me to be able to enter the market at certain price values and having a slippage could easily mean the difference between a win and a loss thereby making my system ineffective.

I am gonna ditch this broker for Dukascopy if they don't improve after contacting their customer service.
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  • #20
  • Jun 28, 2011 2:50am Jun 28, 2011 2:50am
Quoting ajantala
I found out that FXDD has been giving my trades too much slippage of recent. It was not this bad when I started but now that my account is profitable they have never been able to place any trades I have been taking since 2-3 weeks ago on time. An average slippage I have experienced so far is btw 8-12 pips! They could as well increase their spreads to such values instead of enforcing slippage on every trade!

My trading system needs me to be able to enter the market at certain price values and having a slippage could easily mean the difference between...
what are the execution type: market or instant?
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