FXDD Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of FXDD trading signals. You will learn what kinds of trading signals FXDD offers and what the conditions for using them are.
Short introduction of FXDD
The FXDD (pronounced "Efex-didi") brokerage is an STP broker that has been providing services since 2002. The company offers trading in 6 asset classes — currency pairs, cryptocurrencies, and contracts for difference (CFDs). It has offices in Malta and New York. The broker's services are used by more than 400 thousand clients around the world. The regulators are the MFSA (Malta Financial Services Authority, C48817) and the FSC (Mauritius Financial Services Commission, C117017252).
| 💰 Account currency: | USD, EUR, GBP, JPY |
| 🚀 Minimum deposit: | Starting from $1 |
| ⚖️ Leverage: | Up to 1:30 (for retail), up to 1:100 (for professional traders) |
| 💱 Spread: | From 1.9 points (Standard), from 0.4 points (ECN) |
| 🔧 Instruments: | Currency pairs (67), CFDs on stocks (20), indices (13), metals (7), energy resources (4), cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/50% |
FXDD Pros and Cons
👍 Advantages of trading with FXDD:
•The only minimum deposit requirement is $1 or more in your account.
•The desktop and mobile platforms are MetaTrader 4 and MetaTrader 5, as well as a web terminal.
•Availability of PAMM and MAM accounts for passive investment.
👎 Disadvantages of FXDD:
•High spreads on standard accounts - from 1.9 pips on the EUR/USD pair.
•No cent (micro) accounts.
•Complex and lengthy procedure for opening a trading account.
•Limited choice of payment systems for depositing and withdrawing funds.
•There is no Russian-language website and support.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
FXDD Trading Signals
The experts at Traders Union conducted an analysis of the trading and non-trading fees of the FXDD broker. On standard accounts, the spread is retained as a brokerage commission. ECN accounts are charged an additional fee per lot, ranging from $2.99 to $4.99, depending on the asset. Non-trading fees: for the first withdrawal of funds per month - $0; and from the second payment - $40 per transaction + $25 for withdrawals of less than $100. The broker does not charge commissions for depositing funds.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $19 | Exists |
| ECN | From $4 | Exists |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that FXDD does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can I reject a trading signal?
Yes, you can. However, if the signals are provided as a part of copy trading with automatic closing of positions, you need to monitor the platform.
How do I test the signals if I can’t do it on a demo account?
In this case, it is best to test them using the minimum deposit. You will need to check the minimum deposit level of the broker.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.