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FXDD.com experience

  • #1
  • First Post: Apr 6, 2016 8:19am Apr 6, 2016 8:19am
Hello,

Anyone here using FXDD.com ? Please let me know if you have any experience with there ECN account or general experience with withdrawals.

Thank you very much!
  • #2
  • Apr 7, 2016 4:27am Apr 7, 2016 4:27am
Till you don't get any real experiences , you can view this link :

http://www.forexpeacearmy.com/public...w/www.fxdd.com

Trying to help you. Apologies if you already have gone through this.
When the going gets tough , the tough get going
  • #3
  • Apr 7, 2016 4:50am Apr 7, 2016 4:50am
Thanks, i think i should just stay away from FXDD.com. Cause when others are saying they have trouble with them, so i don't think they are lying. Seen now much there are much scammers behind forex business.
  • #4
  • Apr 7, 2016 5:00am Apr 7, 2016 5:00am
My opinion : For overseas client FCA regulated brokers are best.

https://www.100forexbrokers.com/fsa-regulated-brokers

Check the broker registration in FCA register. Also check reviews on independent websites.
Then decide on the broker.
When the going gets tough , the tough get going
  • #5
  • Apr 7, 2016 4:01pm Apr 7, 2016 4:01pm
Quoting tigersoft
Thanks, i think i should just stay away from FXDD.com. Cause when others are saying they have trouble with them, so i don't think they are lying. Seen now much there are much scammers behind forex business.
Can you tell me what your specific concerns with FXDD are?
  • #6
  • Apr 7, 2016 4:01pm Apr 7, 2016 4:01pm
Quoting Stubborn
My opinion : For overseas client FCA regulated brokers are best. https://www.100forexbrokers.com/fsa-regulated-brokers Check the broker registration in FCA register. Also check reviews on independent websites. Then decide on the broker.
I am not sure if you are aware of this but FXDD holds a license with the FCA and is regulated by the MFSA.
  • #7
  • Apr 7, 2016 4:49pm Apr 7, 2016 4:49pm
Quoting Peter Davis
{quote} I am not sure if you are aware of this but FXDD holds a license with the FCA and is regulated by the MFSA.
Therefore if FXDD went same way as Alari UK, clients would be entiltled to claim compensation from FCA/FSCS.

Can you confirm this is correct please as that is what your post implies.
  • #8
  • Apr 8, 2016 2:00am Apr 8, 2016 2:00am
Quoting Peter Davis
{quote} I am not sure if you are aware of this but FXDD holds a license with the FCA and is regulated by the MFSA.
If its true then :

Quoting claudia1
{quote} Therefore if FXDD went same way as Alari UK, clients would be entiltled to claim compensation from FCA/FSCS. Can you confirm this is correct please as that is what your post implies.
This also must be true.
Can you confirm this Pater Davis with any link?
When the going gets tough , the tough get going
  • #9
  • Apr 8, 2016 4:41am Apr 8, 2016 4:41am
My experience with FXDD have been positive... no issue on withdrawals... that's the most important.
  • #10
  • Apr 8, 2016 5:15am Apr 8, 2016 5:15am
Quoting Peter Davis
{quote} I am not sure if you are aware of this but FXDD holds a license with the FCA and is regulated by the MFSA.
Peter, please, can u be more precise: FXDD is regulated FCA Uk or u is only registered there?
  • #11
  • Apr 8, 2016 6:43am Apr 8, 2016 6:43am
I could not find fxdd being regulated under FCA.

They are definitely registered under FCA but not regulated and hence investors compensation fund scheme of FCA may not be applicable to clients of FXDD.
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When the going gets tough , the tough get going
  • #12
  • Apr 8, 2016 9:09am Apr 8, 2016 9:09am
Quoting Stubborn
I could not find fxdd being regulated under FCA. They are definitely registered under FCA but not regulated and hence investors compensation fund scheme of FCA may not be applicable to clients of FXDD. {image} {image}
FXDD Malta is regulated by the MFSA. Under the MFSA's regulations client funds are segregated from corporate operations funds meaning if FXDD Malta where to declare bankruptcy our customers' funds would still be safe and would be returned to them.

FXDD is not regulated by the FCA we simple hold a license with them. The only reason I mentioned this is to illustrate that FXDD is licensed to operate in the UK.
  • #13
  • Apr 8, 2016 9:12am Apr 8, 2016 9:12am
Quoting Peter Davis
{quote} FXDD Malta is regulated by the MFSA. Under the MFSA's regulations client funds are segregated from corporate operations funds meaning if FXDD Malta where to declare bankruptcy our customers' funds would still be safe and would be returned to them. FXDD is not regulated by the FCA we simple hold a license with them. The only reason I mentioned this is to illustrate that FXDD is licensed to operate in the UK.
What is of interest to clients is "Is there any compensation scheme for clients if your firm goes bankrupt?"
When the going gets tough , the tough get going
  • #14
  • Apr 8, 2016 9:18am Apr 8, 2016 9:18am
Quoting hello966
My experience with FXDD have been positive... no issue on withdrawals... that's the most important.
Thank you for your business, we are happy we could provide you with a positive experience.
  • #15
  • Apr 8, 2016 9:41am Apr 8, 2016 9:41am
Quoting Peter Davis
{quote} FXDD Malta is regulated by the MFSA. Under the MFSA's regulations client funds are segregated from corporate operations funds meaning if FXDD Malta where to declare bankruptcy our customers' funds would still be safe and would be returned to them. FXDD is not regulated by the FCA we simple hold a license with them. The only reason I mentioned this is to illustrate that FXDD is licensed to operate in the UK.
Ok let's say FXDD Malta where to declare bankruptcy. The segregated account would be run by the administrators as in the case of Alpari UK/KPMG. Now the administrators fees eat heavily into that account leaving the client with an eventual payout of x pence/.

If regulated by FCA then FSCS can be contacted to seek compensation for the difference. Is this the same with MFSA? Please just be transparent.
  • #16
  • Apr 8, 2016 10:12am Apr 8, 2016 10:12am
I had many friends affected by the Alpari UK bankrupt and at the end they received back their funds from FSCS, so segregated funds were, at least in that case, meaningless. Also FCA regulation (not a simple registration) force the broker to very strict rules in his behaviour with customers. Said this there are many serious brokers also not regulated, but an FCA regulated Broker give to the customer a completely different level of protection
  • #17
  • Apr 8, 2016 10:20am Apr 8, 2016 10:20am
Quoting Stubborn
{quote} What is of interest to clients is "Is there any compensation scheme for clients if your firm goes bankrupt?"
Yes, under the MFSA, FXDD Malta's clients would be protected under the investor compensation scheme. You can see our license information on the MFSA's website here:
http://mfsa.com.mt/pages/licenceholder.aspx?id=918

And read about the MFSA's investor compensation scheme here:
http://www.compensationschemes.org.m...s/default.aspx
  • #18
  • Apr 8, 2016 10:43am Apr 8, 2016 10:43am
Quoting claudia1
{quote} Ok let's say FXDD Malta where to declare bankruptcy. The segregated account would be run by the administrators as in the case of Alpari UK/KPMG. Now the administrators fees eat heavily into that account leaving the client with an eventual payout of x pence/. If regulated by FCA then FSCS can be contacted to seek compensation for the difference. Is this the same with MFSA? Please just be transparent.
The MFSA provides very similar protection for client funds in the case of a firm's bankruptcy. FXDD Malta clients would be covered by the MFSA's investor compensation scheme. You can read about it here: http://www.compensationschemes.org.m...s/default.aspx

Quoting corre71
I had many friends affected by the Alpari UK bankrupt and at the end they received back their funds from FSCS, so segregated funds were, at least in that case, meaningless. Also FCA regulation (not a simple registration) force the broker to very strict rules in his behaviour with customers. Said this there are many serious brokers also not regulated, but an FCA regulated Broker give to the customer a completely different level of protection
FXDD Malta is regulated by the MFSA and must comply with all of their regulations. And as I stated before FXDD Malta's client's funds would be covered by the MFSA's investor compensation scheme in the case of bankruptcy. You can read about it here: http://www.compensationschemes.org.m...s/default.aspx
  • #19
  • Apr 8, 2016 10:57am Apr 8, 2016 10:57am
Quoting Peter Davis
{quote} The MFSA provides very similar protection for client funds in the case of a firm's bankruptcy. FXDD Malta clients would be covered by the MFSA's investor compensation scheme. You can read about it here: http://www.compensationschemes.org.m...s/default.aspx
Up to 90% with a limit of 20k euros - very similar to 50k sterling ? I know which one I would prefer.

Anyway I'm wont post here again just wish you had posted the real facts up front. I been in this industry 20 years and knew these answers but some of the new guys didn't.

Good weekend all.
  • #20
  • Apr 8, 2016 10:59am Apr 8, 2016 10:59am
Quoting claudia1
{quote} Up to 90% with a limit of 20k euros - very similar to 50k sterling ? I know which one I would prefer. Anyway I'm wont post here again just wish you had posted the real facts up front. I been in this industry 20 years and knew these answers but some of the new guys didn't. Good weekend all.
Good one.
+1
When the going gets tough , the tough get going
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