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Recent experience with FXDD Malta? 10 replies

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Attachments: FXDD.com experience
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FXDD.com experience

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.
I am not here to compare regulatory agencies, both the MFSA and FCA are good organizations that are working very hard to protect clients in our industry. There are pros and cons to the regulations of both and each individual trader should do their own research to see what fits their trading style the best.

While it is true that the FCA does have a higher limit on the amount they will reimburse to a client in cases where a firm goes bankrupt than the MFSA. The MFSA has done a lot to protect clients in insolvency cases. The segregation of client and corporate funds has been mandatory with the MFSA since the beginning.

Another thing to consider is that the average retail investor does not routinely maintain balances in their account higher than the limits offered by the MFSA. The Malta Investor Compensation Scheme state that verified claims must be paid out within 3 months. (http://www.ccmalta.com/publications/...r_compensation) In comparison, the UK Financial Services Compensation Scheme could take twice as long, up to 6 months from the later date of the FSCS declaring a company in default or receiving a correct verified claim. (http://www.fscs.org.uk/your-claim/ho...-will-it-take/)
Quoting hello966
My experience with FXDD have been positive... no issue on withdrawals... that's the most important.
Thank you very much for sharing your experience.

I have used fxdd before, but for many years ago. And then i withdraw my money. But on that time they got sold to FXDD Malta. So therefore i was some unsure about this company.
Quoting tigersoft
{quote} Thank you very much for sharing your experience. I have used fxdd before, but for many years ago. And then i withdraw my money. But on that time they got sold to FXDD Malta. So therefore i was some unsure about this company.
We hope to do business with you again in the future. FXDD just partnered with new liquidity providers which will allow us to provide even more competitive spreads resulting in a number of major currency pairs showing spreads as low as 0.0 and EURUSD daily averaging about 0.2.

If you have any other questions about FXDD feel free to reach out to me, I will be monitoring this thread or you can message me directly.
Today all my positions in FXDD were stopped out because GBPJPY went to 119.41. Upon checking with other brokers, the lowest was between 123-124.

While price chart on Forex Factory showed bottom at 124.81. But my positions were stopped out at 116.03! That was 878 pips slippage.

I have sent my email to FXDD support and looking forward to be reimbursed as i have enough liquidity in my account.
Today is 11th Oct.... the case still unresolved? Why take so long to determine the low on 7th Oct?

Where is Peter Davis?
Quoting hello966
Today is 11th Oct.... the case still unresolved? Why take so long to determine the low on 7th Oct? Where is Peter Davis?
If you email [email protected] with your account number and more details about your issue I would be happy to follow up with our support team for you.
Quoting Peter Davis
{quote} If you email [email protected] ("[email protected]") with your account number and more details about your issue I would be happy to follow up with our support team for you.
U got my PM.
Quoting hello966
{quote} U got my PM.
I have received your PM and I am looking into the situation personally. I will keep you updated on the progress being made.
  • Post #29
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  • Edited 4:01am Oct 14, 2016 12:53am | Edited 4:01am
Quoting Peter Davis
{quote} I have received your PM and I am looking into the situation personally. I will keep you updated on the progress being made.
Received a call from your support staff.... i was told my money is all gone... left with -USD86 in it... my positions will be closed at 119.45... instead of 123-124 like other brokers.

I started trading with FXDD since 2008... first time i encountered such huge slippage... and FXDD is not going to change anything to regain confidence.

My USD23 000 was wiped out... its all gone now... due to the lack of USD87 more capital... all my positions were stopped out.

I have to advice other traders to stay away from FXDD... eventhough i made profits in the past...but 400 pips slippage changed my opinion on FXDD forever.

Will post at Forexpeacearmy website soon... feels cheated.
Quoting hello966
Today all my positions in FXDD were stopped out because GBPJPY went to 119.41. Upon checking with other brokers, the lowest was between 123-124. While price chart on Forex Factory showed bottom at 124.81. But my positions were stopped out at 116.03! That was 878 pips slippage. I have sent my email to FXDD support and looking forward to be reimbursed as i have enough liquidity in my account.

It's crazy discrepancy, I can see that at Pepperstone and IC Markets price felt to more or less 122.75 and you were stop out at 116.03? It was classic price manipulation at MT4 FXDD and you should definitely ask for help MFSA, in addition you can open case at forexpeacearmy.com, they can be helpful. If you had stop loss order above the lowest point you should be stop out exactly the at the bottom due to flash crash.
Quoting insomniawawa
{quote} It's crazy discrepancy, I can see that at Pepperstone and IC Markets price felt to more or less 122.75 and you were stop out at 116.03? It was classic price manipulation at MT4 FXDD and you should definitely ask for help MFSA, in addition you can open case at forexpeacearmy.com, they can be helpful. If you had stop loss order above the lowest point you should be stop out exactly the at the bottom due to flash crash.
Thanks for the idea. I will look into this possibility.
  • Post #32
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  • Edited 3:07am Oct 20, 2016 2:50am | Edited 3:07am
FXDD agreed to revise the close positions to 123.50 yesterday after 2 weeks of the incident.. my account now nett balance 6.7k... 16.3k was lost.

With the GBPJPY now went up to 127.44... i lost about 400 pips of "capital"... Assuming my account was not liquidated at 123.50...

Hope my account won't be stopped out again due to huge slippage.
  • Post #33
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  • Edited 8:11am Nov 23, 2016 8:01am | Edited 8:11am
It true this is due to slippage?
  • Post #34
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  • Last Post: Nov 23, 2016 6:36pm Nov 23, 2016 6:36pm
Terrible brokers by all accounts on this and the FPA page.
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