Fxdd is a suspicious broker that operates the websites fxdd.com and fxdd.io respectively. This broker has been around for quite some time but unfortunately they’re also the subject of complaints from traders who used their services at some point.

In the past, FXDD has caught the attention of US regulators — the CFTC and the NFA. The financial regulators caught this broker manipulating pricing to their advantage. As a result, traders suffered heavy losses on this broker’s platform.

You can read this article here.

In 2012, the broker was charged by the NFA for failing to implement Anti Money Laundering (AML) program. This is a requirement for brokers to ensure that their platform is not used to launder funds or facilitate terrorism financing.

Additionally, the broker is required to detect and report any suspicious activities on their platform.

This violation saw the NFA fine this broker $500,000.

In 2013, FXDD was fined 2 million USD. The broker was also ordered to pay clients a sum of $1.8 million for losses that arised from excess slippage on their trading platform.

In 2014, the Malta financial regulator fined FXDD €25,000.

Do you think this broker can still be trusted?

FXDD Review

The broker is operated by a US-based company called FXDirectDealer LLC. From what we can see in the public domain, it’s obvious that this broker is a repeat offender.

The broker is also very greedy as all of the fines are related to the actions of this broker which resulted in their clients losing money.

The only reason why FXDD is still doing business is because the company has fat pockets and is able to buy its way into positive limelight.

Reasons why FXDD is actually a scam broker

When you search for this broker’s reviews, you will find plenty of positive feedback from websites which appear to have been paid by this company.

They’re cleaning up negative reviews by publishing a lot of positive reviews on authority websites. As a result, all the negative reviews are pushed down the first page of Google so that searchers won’t find them. This is called reputation management and it can hurt traders.

Usually when people are searching for reviews of a particular broker, they look at the first 5 page results and if all of those are positive reviews, the person thinks the company must be legitimate. Consequently, the person would sign up and start trading with that particular broker without conducting further investigations.

The good news is that we managed to find all of the negative reviews that this broker didn’t want you yo see.

We start by highlighting reviews from a trader’s forum called the FPA.

There are hundreds of such ratings from other forums on the internet. They don’t want you to see this.

The scammers are even suing their customers and losing out on the case. This is a scare tactic that FXDD is using to discourage its clients from voicing their complaints.

See the letter below:

Conclusion of this broker review

We advise that traders should exercise extreme caution when it comes to dealing with this broker.

It is better to avoid trading with FXDD altogether (if you don’t want problems).

Here’s a case of a broker stealing from you and threatening you. This is not fair to their clients.

This brokerage appears to be a sophisticated scam. They’re no different from Graystone, External Coins or General trust Group.

Thank you for reading. If you have anything to say about this broker, please utilize the comment section.