Abstract：Failing to withdraw your funds earned on the FXDD platform because of technical glitches? Do your emails seeking clarification on stuck funds come unanswered from the Malta-based forex broker? Have you even encountered deposit credit failures and received almost a muted response from the customer support official? These issues have allegedly become headlines on broker review platforms such as WikiFX. This FXDD review article thus aims to uncover everything about the brokerage entity, including user complaints. Read on!
Failing to withdraw your funds earned on the FXDD platform because of technical glitches? Do your emails seeking clarification on stuck funds come unanswered from the Malta-based forex broker? Have you even encountered deposit credit failures and received almost a muted response from the customer support official? These issues have allegedly become headlines on broker review platforms such as WikiFX. This FXDD review article thus aims to uncover everything about the brokerage entity, including user complaints. Read on!
FXDD Overview: Company Profile, Account Types & Trading Conditions
FXDD claims to be a multi-asset brokerage house offering services across forex, stocks & indices, metals & energies, and cryptocurrencies. Its leverage offerings differ based on the product you choose to trade on the platform.
As far as the leverage on forex pairs is concerned, it will be 10% of the account for those with USD/HKD, EUR/DKK, JPY/TRY, USD/CNH, EUR/TRY and USD/TRY. Those with EUR/MXN and USD/MXN pairs will receive leverage at 25% of their overall account.
Coming to the commodities, the brokerage entity offers 50% of the account as leverage to those invested in XAU/USD, XAU/EUR, XAG/USD, XAG/EUR, OIL/USD, XPT/USD, UKOIL, NATGAS, Copper and UKOIL.
Single stock holders will receive 5% of their account as leverage, while the same for cryptocurrency investors remains 4:1 with a margin requirement of 25%. The maximum leverage on Indices CFD instruments remains 100:1.
FXDD offers two types of trading accounts - Standard and Premium - suiting different users. Lets check out what the broker advertises for these accounts in the table below.
The spread information is not mentioned explicitly in value terms, which creates a transparency gap, although the broker advertises it to be favorable for traders.
Top Forex Trading Complaints Against FXDD
Withdrawal Request Failed, Funds Trapped
An Indonesia-based user highlighted his overall journey with FXDD, beginning as late as 2018. The trader admitted to having lost; however, he still felt that the brokerage entity was good then. As a result, the user applied a fund withdrawal request of approximately $10K. What was reportedly baffling was the Arabian language on which the customer support was communicating to the trader about the issue. While the communication became a barrier, what pegged the user further back was the disappearance of his FXDD MT4 account across devices, including his iPhone. Frustrated by the reportedly poor experience, the user shared this negative FXDD review online.
ZERO Account Balance Despite No Withdrawals
This accusation against FXDD surfaced on WikiFX, a leading forex broker regulation inquiry app. The trader conceded that the broker failed to honor any of the fund withdrawal requests made. Even then, the account balance on the FXDD login page showed ZERO, according to the complaint. With no response to the complaint made, the situation allegedly became critical for the trader, who recounted this unfortunate incident online.
Pending Withdrawal Complaints Against FXDD
A US-based user reported failing to receive withdrawal access for as long as six months while sharing the FXDD review. According to the review, the broker, which was arguably sold to 888 markets, started ghosting following the deal by failing to respond to any of the traders queries. This seemed a classic Ponzi scheme to the trader. Similar complaints were shared by other traders. Check out these allegations for a better understanding.
Unstable Trade Order Execution & Slippage Allegation
A Canada-based trader reported serious trade manipulation while using the AI for trading. The trader allegedly encountered unstable trade order execution, heavy slippage and broken trades because of a suspect foul while trading quickly through the AI bot. However, the user acknowledged that the situation evens out with a reduced pace of trading. The only downside then remains a drop in profitability. Summing this as a poor trade execution experience, the user shared this critical FXDD review.
Alleged Trade Execution Error Leads to Excessive Loss on Gold Position
A trader from Palestine claimed that a sell position on gold was opened at 2769 with a lot size of 1 and later closed when the price was around 2773, which should have caused him a loss of approximately 350. However, the trade was reportedly closed at an incorrect price of 2791.03, resulting in a much larger loss of 2197. The user alleged that the market never reached this level at the stated time, indicating a possible execution error. Supporting evidence was mentioned to validate the claim. Due to this discrepancy, the trader believes the account balance should be significantly higher. This raised concerns about pricing accuracy and trade execution reliability on the FXDD login. For more details, read the entire complaint below.
Reported FXDD Login Issues
Several traders have expressed their inability to log in to their FXDD MT4 platform to check the whereabouts of their accounts, including the withdrawal status. Here are some allegations for consideration.
Deposit Failed to Reflect Even After Two Months, A Trader Claimed
Adding to the alleged trading activities at the FXDD broker platform, a Hong Kong-based user failed to witness deposits on the account even after two months. The poor customer support response to this only worsened the situation, according to this complaint. Take a look!
FXDD Review by WikiFX: Is it Real or Fake?
As suspected, the FXDD broker did not have any credible trading license, as per the WikiFX teams in-depth regulatory investigation. With numerous complaints pointing to a serious breach in trading regulations, the investment risks for traders have grown substantially. As a result, the brokerage firm could only bag a score of 1.61 out of 10.
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