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My FXDD connection (Demo) is down since yesterday. I have 5-6 of them running and all are down since yesterday. Does anyone have the same problem? On the bottom right corner, I have the message, "No connection".
Thanks.
Why would anyone use a Demo when FXDD offers Mini Mirco's accounts which you could test for .01 ( One Penny) per trade, and avoid the problems with Demo's which you are having?
I opened a live account with them in Dec 2008 to take advantage of a $100 bonus: limited-time offer for all new customers: Open a live FXDD trading account between November 25 and December 25, 2008, and receive a $100 instant credit – regardless of when (or whether) you fund your new account. (Customer Appreciation Bonus Program | FXDD Promotions)
I was happy that they promptly gave me the $100 bonus in Dec 2008 even without funding, but today I logged in and found that the bonus was reversed on 1st Aug 2009. SO I contacted their live support and was told that they revoked all bonus funds from clients who:
1. Never funded their account, or
2. Did not have an open position, or
3. Did not make a trade within the last 45 days.
He told me that the only way to get back the $100 bonus is to fund my account with $250 by today!
Is this broker scam or is it worth depositing $250 with them?
While I have issues with fixed spread brokers in general and would not use them in the long run, I have had an account with FXDD since December 2008 and so far they seem fine, for the level of trading I do now (I am basically testing out systems/ideas). Their spreads are certainly not the best, especially not on non-major pairs but unless you do very short term trading with very tight take profit/stop loss targets, FXDD is no worse than any other and certainly not a scam. At least I have don't have any evidence yet to draw the conclusion that they are a scam/dishonest broker.
However, I would also not assume that they would let anyone keep a bonus unless they get the bonus paid back through trading with them, although I don't know what the wording was on that particular bonus program. I think I got the same bonus deposit and I still have it in my account. As an example, if I were them, I would require you to trade at least 20-50 mini lots over some period of time for a bonus of $100. That way they have at least recovered their bonus payment through the spread on the transactions done through them. If you have traded that number of trades since your initial deposit and they still won't let you keep the bonus, it would be a cause of concern (unless the rules of the program stated a higher number of required trades that you have not met).
Personally, I haven't seen any evidence that they are stop hunting. If there is a "strange" move in the price, I check out what the price was at FXCM (or another broker) and I have not seen any unusual price movements specific to FXDD. However, that is just based on my experience with them since Dec 2008 and I usually don't monitor my positions much intra-day so it has to be something extraordinary to get my attention.
I do think that their spreads are pretty bad, especially in the non-major pairs during the Asian session but it is obvious to anyone so it should not come as a surprise nor does it make them a scam.
I have never had to deal with customer service so I can't comment on that.
Anyone should know that no one can promise a return of 15% per week so that review seems questionable.
Personally, I have not had any issues with requotes but I enter most of my trades as pending orders so not sure if that makes a difference.
I have never had any trades closed by them. All trades have been closed by me manually, mostly using preset stop loss/take profit levels, or by an EA. I have not noticed any difference when closing winning vs losing trades.
Also, performance of an EA on a demo with almost without exception be different than on a live account (where you do get requotes) so that should not be a surprise either.
This is not an endorsement for FXDD since I think there are better brokers out there but for a small account where one is just trying to learn the ropes, they are no worse than many others and their financials look ok so I don't think they are going away any time soon.
i want some one to explain what is going on with my positions it close as stoploss without reaching stoploss price!!! and it happened more than one time
u can see the attached image file that although the price didn't actually reach the stoploss the positions closed?????????
Here is the little unprofitable chat between me and technical support
Quote:
Muhammed : THAT'S ME
Adam: The technical Support
please wait while we find an agent to assist you...
All agents are currently busy. Please stand by.
You have been connected to adam l..
Adam l.: Welcome to fxdd live chat. How may i help you?
Adam l.: Most likely what he case is, and you can look at the graphs, is the it was a fast moving market, to the platfrom closed you out at as close to your stop/loss as possible
muhammed: Hello
muhammed: Sorry
muhammed: I was little busy
adam l.: No problem
muhammed: I've a problem with stop loss
adam l.: In fast moving, volitile markets, the platform tries to get you as close to your stop loss as possible, but it may not get your exact price because the market it moving so fast
muhammed: Let me show u
muhammed: I'll give u an image i saved from mt4
muhammed: It shows my positions
muhammed: Just a moment pls i'm uploading it @ imageshack
currently experiencing network delays, one moment please....
Network connection re-established.
Muhammed: That is the link http://img3.imageshack.us/img3/4743/symbolmk.jpg
muhammed: Would u please tell my why that happened
muhammed: More than 1 time
adam l.: Yes like i said it is a fast moving market, so the platform tried to get you as clost to your stop loss as possible, but it is a volitle and fast moving market
muhammed: Sorry but i cannot understand what r u saying!!!
Muhammed: I've entered a stop loss price and more than this 2 casses it happened
muhammed: And the disaster that the platform closed it as if the price reached the stoploss
muhammed: And it didn't even reach it
muhammed: Soooooooo what to do sir
muhammed: I lost more than 1 time
muhammed: Am i supposed not to enter a stoploss? Or freeze in front of the screen
adam l.: Stop losses are not guarantueed, we try to get them as close as possible, and in those two cases the market was moving very fast so it tried to get you as close to your stop loss as possible
muhammed: Please give me a solution
adam l.: Sir i can not tell you what to do, im just letting you know that stop losses in a fast moving market, sometimes tend to not hit, they just try to get as close as possible
muhammed: Ok u can say that in the case of chf/jpy but not eur/gbp
adam l.: I can say it in both those examples you sent me, cause at the time of stop loss, the market has a huge line, which means it was a fast moving market
muhammed: In eurgbp it didn't move more than 5 pips in the direction of stoploss
muhammed: 5 pips r too fast ?
Adam l.: In the two screen shots you send me it was more than 5 pips, but sir i mean you can do the stop loss, just know that we try to get you as close as possible
muhammed: No sir in eurgbp just 5 pips
adam l.: I am sorry that it only moved 5 pips and you got closed out, but like i said before they try to get you as close as possible
muhammed: But if u can't solve this tell me how much stop loss i've to enter to avoid the toooooo fast market sir
adam l.: I would say any stoploss that you want, go 5 more pips
muhammed: Thank u sir 4 not solving this issue
adam l.: No problem have a good night
thank you for using fxdd live talk. You may now close this window.
Your session has ended. You may now close this window.
I found this interesting picture of a (for me) first time view of the dealing room of a Forex broker.
I had an account with FXDD.
They are a correct MT4 broker. Is that "Contradictio in terminis" haha ?
They gave a fixed spread, but don't dream to news-trade with them because they will use all the tricks in the book, like re-quotes after re-quotes etc. But on the other hand, I saw no specific against me trading behavior. I traded only 1 full lot. They often exited me a long trade at the top of the spike (where I was very lucky). So I could not say that they traded against me.
With Oanda no re-quotes at all, NEVER. But they widen the spread 10 X .
?
Linear Mode
