Is FXDD a good broker? [Archive] - The Forex Autopilot and FapTurbo Forum

thescorpionking

11-15-2008, 10:42 PM

mystikdragon7

11-16-2008, 07:08 PM

Ok, so far, FXDD works fine, I used FAP and my balance went from 500 - 600 in about a day.
Just wondering, would FXDD trade against the traders? I am worried that if I make a lot of money, they'll start to trade against me and take away all my money.

From what I have heard FXDD is a pretty decent broker. I am looking into either FXDD, Alpari, or IBFX for a live broker account. As far as the broker stealing money from you, that would be highly illegal and they are regulated and monitored.

^eagle^

11-16-2008, 07:22 PM

From what I have heard FXDD is a pretty decent broker. I am looking into either FXDD, Alpari, or IBFX for a live broker account. As far as the broker stealing money from you, that would be highly illegal and they are regulated an monitored.

I have a live with FXDD and demos with alpari,ibfx, and fxdd

IBFX has the best service from what I have read but I have not used them for live accounts. I like the idea that they have micros and a debit card directly attached to your account.

I may open one with ibfx soon but I have been happy with FXDD. No complaints but if there is something better I would like to use it.

mystikdragon7

11-16-2008, 07:27 PM

I like the idea that they have micros and a debit card directly attached to your account.

That's what I really liked too about IBFX. Makes it pretty easy to spend your winning profits. No waiting days to transfer your money to your bank account, just move it to your debit account and its there. Just haven't found anyone with a live account with IBFX to comment on them.

alan

11-17-2008, 02:29 AM

I have a live account with them and so far I'm satisfied. I haven't noticed any funny business or other tricks brokers play being perpetrated on my account so to me so far they seem "honest" (lol an honest broker..har har har). Bear in mind that I don't monitor my account that often.

What I like about them is that they're servers are fast. Trade execute and close very quickly.

thescorpionking

11-17-2008, 11:18 AM

One other question, is FXDD an ECN?
because only ECNs don't trade against their traders.
I know FXCM is a big scam, they trade against their traders so hard.

mystikdragon7

11-17-2008, 08:44 PM

One other question, is FXDD an ECN?
because only ECNs don't trade against their traders.
I know FXCM is a big scam, they trade against their traders so hard.

Really?
I have been using them before I even knew about FAPS. Liked them because of their one click trading, but if there're pulling that crap I'm taking all my money from them.

alan

11-17-2008, 09:08 PM

FXDD is NOT an ECN.

As for FXCM they used to have a bad reputation for screwing with their traders, but I think lately they've toned down on that. Now they claim that all trades (on their TradeStation servers though) are routed directly to their liquidity providers (banks) and thus there is no longer a trading desk involved.

Be careful with their new MetaTrader 4 offering as this is a pure trading desk type scenario.

Now having said that, I still trade with FXCM. I have an account with them for manual trading.

koeiseun

11-18-2008, 12:05 AM

alan

11-18-2008, 02:08 AM

I have been trading live with FXCM since early 2005 and have always had good service from them. Quick turn around time for withdrawls and fast execution even when trading during high profile news. I manually trade FAPS at FXCM based on entries and exits from my demo acount.

Now that's an excellent idea...and I was planning on doing that with Dukascopy (a pure ECN no MT4 support) and FAPS, but now that I've ran across some ECN brokers that support MT4 I just may skip that idea.

mystikdragon7

11-18-2008, 07:05 PM

Wait I forgot what ECN means. Can someone tell me what it means?

^eagle^

11-18-2008, 08:13 PM

Wait I forgot what ECN means. Can someone tell me what it means?

Electronic communications network

mystikdragon7

11-18-2008, 08:33 PM

Electronic communications network

That's right!! Thanks Eagle!!!

alan

11-18-2008, 11:25 PM

Wait I forgot what ECN means. Can someone tell me what it means?

ECN is an acronym for Electronic Communications Network. A Forex ECN does not operate a dealing desk but instead provides a marketplace where multiple market makers, banks and traders can enter competing bids and offers into the platform either inside or outside the spread, allowing traders to trade against each other and with multiple counterparties. A trader might open a trade with liquidity provider "A" and close it with liquidity provider "B", or have the trade executed against the bid or offer of another trader. Participants of the ECN send in competing bids and offers into the platform and the combined volume is usually displayed to traders at each price. Orders are matched between counterparties, usually for a small fee.

mystikdragon7

11-19-2008, 06:09 PM

Is Alpari or IBFX and ECN broker? I think IBFX is aren't they?

lorddave

11-19-2008, 06:20 PM

IBFX is a No Dealing Desk broker, hence we pay the spread instead of commission (if I understand correctly)...

thescorpionking

11-19-2008, 09:42 PM

alan

11-20-2008, 12:56 AM

Is Alpari or IBFX and ECN broker? I think IBFX is aren't they?

Neither of them is an ECN broker. IBFX is a "no dealing desk" broker which means they route (or pass) your order straight to the "interbank" market (ie to their liquidity providers which are a bunch of banks).

A true ECN broker provides you with access to ECNs used by banks and other large financial institutions or companies (and big traders). This is a pure and open market where your bids DO influence price.

alan

11-20-2008, 01:01 AM

ECN brokers are always the best, since you can trust them not trade against the traders, and they have low spread.
Market Makers would be very likely to trade against the traders.
What about no dealing desk? Do they trade against the traders? Is FXDD a no dealing desk?

No FXDD is NOT a "no dealing desk broker" For proof see the following link (to their FAQ page):

http://www.fxdd.com/learning-center/faq/about-fxdd.html

Scroll all the way down to "Do you have a dealing desk?"

The answer is Yes FXDD does have a dealing desk.

Pullice

11-20-2008, 01:44 AM

alan

11-21-2008, 07:03 AM

Hmm why the M5? And how is this way of trading performing so far?

riturajchahal

11-21-2008, 12:43 PM

hey
did anybody tried fxdd auto trading software if yes
what was the experience

alan,earl,short14

alan

11-21-2008, 11:07 PM

hey
did anybody tried fxdd auto trading software if yes
what was the experience

alan,earl,short14

I did a while back and only lost money. It takes a long time to research the various signal providers and even then I noticed that some of them are pure garbage.

I'm using ZuluTrade now. Checkout my forex blog as I post on a weekly basis the "top zulutrade signal providers"

btw, FXCM also has a similar autotrade system. They're all based on tradency platform.

janc63

11-26-2008, 03:31 AM

Just a quick question:

Where can I find the list of Spreads FXDD uses? I simply cannot find it on their site.

Jan

alan

11-26-2008, 08:25 AM

Just a quick question:

Where can I find the list of Spreads FXDD uses? I simply cannot find it on their site.

Jan

Download their demo platform. Are you referring to their swap rates perhaps?

janc63

11-26-2008, 09:04 AM

Download their demo platform. Are you referring to their swap rates perhaps?

No, I meant the spread. However, since I am rather new to all this maybe my question was not the right question.

May I assume, if I look at the platform and see the bid and ask price the difference would be the spread?

So, if bid = 1.2508 and ask = 1.2510 then the spread would be 2? Is this a good way to determine a brokers policy on spreads?

Jan

alan

11-26-2008, 09:24 AM

No, I meant the spread. However, since I am rather new to all this maybe my question was not the right question.

May I assume, if I look at the platform and see the bid and ask price the difference would be the spread?

So, if bid = 1.2508 and ask = 1.2510 then the spread would be 2? Is this a good way to determine a brokers policy on spreads?

Jan

Yep, you assume correctly! :) Most dealing desk brokers keep the spread fixed (during news releases they do widen them considerably though) so yes this would be a good way to check on your broker's spread policy. If you notice that they widen the spread when there aren't any major news events due to be releases or give you requotes too often when opening trade simply pack up your forex bags and leave them!

jip

12-13-2008, 01:50 PM

HI, have a look at the site 'investopedia ' things are well explained about ECN
and retailbrokers !

jip

alan

12-13-2008, 02:07 PM

HI, have a look at the site 'investopedia ' things are well explained about ECN
and retailbrokers !

jip

Indeed it is a very useful site:

http://www.investopedia.com/

or

http://www.babypips.com

mystikdragon7

12-13-2008, 05:49 PM

maxfactor

12-14-2008, 06:15 AM

Well I think I might go with FXDD at first instead of IBFX. FXDD has a free $100 dollar account to start with. And the best thing is you don't even have to deposit any money into the account if you don't want to.
Dont think just sign up! I just got my approval letter from them that I can go ahead and start trading with the $100 dollar tomorrow. ;)

I am lucky because they have over 4000 applications. I called them like 3 times last week to push them to get this account running. :D

tetrahedron

12-15-2008, 01:46 AM

As a newbie, I was wanting to confirm that FXDD's GMT offset is 2, and that I haven't overlooked anything here.

Also, does anyone know roughly what spread FXDD tends to use?

pelican

12-15-2008, 02:13 AM

Now that's an excellent idea...and I was planning on doing that with Dukascopy (a pure ECN no MT4 support) and FAPS, but now that I've ran across some ECN brokers that support MT4 I just may skip that idea.

I looked at a couple of ECN brokers offering MT4 platforms mentioned at this site. http://www.earnforex.com/ecn_forex_brokers.php. (There's also a page listing many other retail MT4 enabled brokers.)

A least one of the ECN brokers, ATC Brokers, appear to place you with FXDD when you try to open an account with them.

alan

12-15-2008, 02:50 AM

As a newbie, I was wanting to confirm that FXDD's GMT offset is 2, and that I haven't overlooked anything here.

Also, does anyone know roughly what spread FXDD tends to use?

Yes, It is GMT +2

As for spreads, download their demo and find out :) easy as pie.

alan

12-15-2008, 03:00 AM

I looked at a couple of ECN brokers offering MT4 platforms mentioned at this site. http://www.earnforex.com/ecn_forex_brokers.php. (There's also a page listing many other retail MT4 enabled brokers.)

A least one of the ECN brokers, ATC Brokers, appear to place you with FXDD when you try to open an account with them.

Yes, I know, another one is Fastbrokers...they also forward you to FXDD.

pelican

12-15-2008, 06:13 AM

I looked at a couple of ECN brokers offering MT4 platforms mentioned at this site. http://www.earnforex.com/ecn_forex_brokers.php. (There's also a page listing many other retail MT4 enabled brokers.)

A least one of the ECN brokers, ATC Brokers, appear to place you with FXDD when you try to open an account with them.

Sorry that was the ecn broker "fastbroker" that offloads you to fxdd.

seabee40

12-15-2008, 06:54 AM

If Fastbrokers hand you off to fxdd, are they still considered an ECN?

clolab

12-15-2008, 07:00 AM

can somone please post major spread form FXDD?
I have installed so many MT4 demo account... i dont like to install another just to see spreads.

thanks a lot

mystikdragon7

12-15-2008, 04:59 PM

can somone please post major spread form FXDD?
I have installed so many MT4 demo account... i dont like to install another just to see spreads.

thanks a lot

Here ya go
http://www.fxdd.com/en/fxdd-currency-spreads.html

Albacino

01-08-2009, 12:53 PM

Does anyone know if fapturbo trades if the spread is higher than 3? Their manual says do not trade if so, but I don't know whether they mean manual trade or what. If the FXDD spread on eur/gbp is 5, or even higher from what I see on my demo, then how are trades supposed to be successful?
Quote from the manual "If you broker gives you an unusually big
spread (for example spread 5-6 for EurGbp or more instead of normal 2-4) then scalper strategy will have a hard time trading it. It will miss a lot of trade or will not trade at all".

yogi

01-08-2009, 05:14 PM

I have a live with FXDD and demos with alpari,ibfx, and fxdd

IBFX has the best service from what I have read but I have not used them for live accounts. I like the idea that they have micros and a debit card directly attached to your account.

I may open one with ibfx soon but I have been happy with FXDD. No complaints but if there is something better I would like to use it.

Hi Eagle,
I have a question:
I have a demo account with FXDD and I'm just getting ready to set up my live account using FAPTURBO. I want to continue trading demo for a while with FXDD but also live account as well.
Do you know if I can install 2 different instances of MT4 and run one instance on demo account with FAPTURBO V23 demo activation key and the other FXDD MT4 instance on live account with FAPTURBO live activiation key?

Thanks
Yogi

^eagle^

01-08-2009, 08:11 PM

Hi Eagle,
I have a question:
I have a demo account with FXDD and I'm just getting ready to set up my live account using FAPTURBO. I want to continue trading demo for a while with FXDD but also live account as well.
Do you know if I can install 2 different instances of MT4 and run one instance on demo account with FAPTURBO V23 demo activation key and the other FXDD MT4 instance on live account with FAPTURBO live activiation key?

Thanks
Yogi

I believe you can do this. The live account and the demo account will have different numbers. However running both at the same time may be a problem. I believe you have to get a multi platform to run both. I do not have a multi platform. I run different brokers for demo and FXDD live.

Also make sure you are not running through forex meta. they charge you an extra pip but give you no real benefits.

Straight through to FXDD. Call FXDD and make sure you do not have an introducing broker. If you do ask that it be removed and work directly with FXDD. If your spread for eur/usd is greater than 2 you have an IB. FXDDs spread for eur/usd is 2.

I am very happy with them.

fixed spreads that are as competitive as ECNs and execution slightly less than an ECN. Have no plans to change. Thought about going ECN for scalping but scalping is too high maintenance and stressful.