FXDD vx Forexmeta

[Craig BC]

Does anyone know if there is a difference.
I understand that Forexmeta just opens an account for you at FXDD but is the spread the same?
Also if I already have an account with FXDD can I open a second account thru forexmeta to take advantage of the free $500, or is there some serious catch to this.

[^eagle^]

Does anyone know if there is a difference.
I understand that Forexmeta just opens an account for you at FXDD but is the spread the same?
Also if I already have an account with FXDD can I open a second account thru forexmeta to take advantage of the free $500, or is there some serious catch to this.
In order to get the free 500 dollars you have to trade a minimum of somethign like 200 lots. Thats pretty hard to do on a mini or micro account.

I would stick with FXDD. Your trades have to go through two hands instaed of one with Forex meta.

I believe the spread is the same but you might as well go to the source.

[Craig BC]

thanks Eagle.
200 lots is a hell of a lot. Or lots of lots

[dcrowley06]

Craig BC. The difference between FXDD and ForexMeta is 1 pip in the spread all the time. I run both and every trade that FXDD does, its spread is 1 pip less than ForexMeta. Guess that is where the $500 dollars is coming from. It is your money that you are paying extra to them for doing trades through FXDD as a middle man.

Here are the terms for the ForexMeta "bonus"

$100 Level = 40+ full lot closed trades in the first 60 days of the account approval.
$200 Level = 80+ full lot closed trades in the first 60 days of the account apporval.
$300 Level = 120+ full lot closed trades in the first 60 days of the account approval.
$400 Level = 160+ full lot closed trades in the first 60 days of the account approval.
$500 Level = 180+ full lot closed trades in the first 60 days of the account approval.

So, the value of 1 pip on a full lot $100,000 closed trade would have to be $2.77 or less to make it worth the "Bonus"... however, with some math, we learn that this is not a very good deal and highly improbable.

If your trading usd/??? the math would be (.0001 divided by exchange rate = pip value x $100,000). (so i took an example and did usd/cad and the extra pip they add to each trade for a lot was valued at $8.04 each. And that is if it was one trade to make a lot... with many trades in between if you are microtrading, you are talking a LOT of extra money going to them)

So I guess their $500 dollar "bonus" might be chump change to them after 180 closed lot trades from you.

And literally I checked throughout the day and they were always .0001 higher spread than FXDD so their systems are set up to automatically add that on.

[thescorpionking]

Craig BC. The difference between FXDD and ForexMeta is 1 pip in the spread all the time. I run both and every trade that FXDD does, its spread is 1 pip less than ForexMeta. Guess that is where the $500 dollars is coming from. It is your money that you are paying extra to them for doing trades through FXDD as a middle man.

Here are the terms for the ForexMeta "bonus"

$100 Level = 40+ full lot closed trades in the first 60 days of the account approval.
$200 Level = 80+ full lot closed trades in the first 60 days of the account apporval.
$300 Level = 120+ full lot closed trades in the first 60 days of the account approval.
$400 Level = 160+ full lot closed trades in the first 60 days of the account approval.
$500 Level = 180+ full lot closed trades in the first 60 days of the account approval.

So, the value of 1 pip on a full lot $100,000 closed trade would have to be $2.77 or less to make it worth the "Bonus"... however, with some math, we learn that this is not a very good deal and highly improbable.

If your trading usd/??? the math would be (.0001 divided by exchange rate = pip value x $100,000). (so i took an example and did usd/cad and the extra pip they add to each trade for a lot was valued at $8.04 each. And that is if it was one trade to make a lot... with many trades in between if you are microtrading, you are talking a LOT of extra money going to them)

So I guess their $500 dollar "bonus" might be chump change to them after 180 closed lot trades from you.

And literally I checked throughout the day and they were always .0001 higher spread than FXDD so their systems are set up to automatically add that on.

I have a account for forex meta, can I change it to FXDD?
do they change the spread after the first 60 days?
The spread made me lose money on the scalper trade.

[dcrowley06]

I have a account for forex meta, can I change it to FXDD?
do they change the spread after the first 60 days?
The spread made me lose money on the scalper trade.


You would have to open an account directly with FXDD. You cannot convert your forexmeta account to an FXDD account.

The spread will not change after 60 days, but as you can see from my example, one pip on a full lot can be between 8 and 12 dollars. So if you traded on minilots of .1 you would have to do 1800 trades in 60 days... uh... I think that is unlikely. That is 30 closed trades every day.

Anyway, you would have to spend an extra 1440 to 2160 dollars in order to get back a "bonus" of $500 dollars.

Now the above is only a comparison between FXDD and ForexMeta, I am currently using neither of these brokers and only speak from experience of running their demos.

[thescorpionking]

You would have to open an account directly with FXDD. You cannot convert your forexmeta account to an FXDD account.

The spread will not change after 60 days, but as you can see from my example, one pip on a full lot can be between 8 and 12 dollars. So if you traded on minilots of .1 you would have to do 1800 trades in 60 days... uh... I think that is unlikely. That is 30 closed trades every day.

Anyway, you would have to spend an extra 1440 to 2160 dollars in order to get back a "bonus" of $500 dollars.

Now the above is only a comparison between FXDD and ForexMeta, I am currently using neither of these brokers and only speak from experience of running their demos.

I just emailed FXDD support and they changed it for me.
now I have lower spread.