United States
  • Click to Call
Call Us: 1.866.367.3933

Forex Resources

Frequently Asked Questions (FAQ) and Facts About FXDD Live Trading Accounts

Here's how to get a live Forex trading account with FXDD

Click on a question below

How is margin on opened positions calculated? And what does this represent?

How does the demo account compare to a live account?

How can I access my Back Office equity?

Can I register for an FXDD account online?

Why choose a Mini trading account?

Why choose a Standard trading account?

How do I open a Mini or Standard account?

What documents are needed to open a new live account?

Does Metaquotes offer an API?

Does FXDD offer trading in an IRA?

What information do I need to set up a corporate account?

How much does FXDD charge for wire transfers to or from my FXDD Account?

How do I submit new account documents?

Does FXDD issue an official annual profit/loss statement (similar to issuing 1099 tax form)?

Does FXDD publish quarterly account numbers in accordance with the CFTC's regulation?

Is my account subject to inactivity charges?

How is margin on opened positions calculated? And what does this represent?

With FXDD a client has one account in US dollars for all positions. Margin requirement is calculated at the time when the position is placed. So margin remains the same if additional positions are not added.

An account balance is maintained in real time. The required margin is calculated in USD real time. Margin on Back Office represents the initial margin requirement for that position(s), as well as the liquidation level on the account. For specific calculations, on currency pairs margin levels, please send an email to our Support Department.

^ Back to Top

How does the demo account compare to a live account?

The demo accounts for our platforms are intended to offer you an opportunity to become familiar with the software and to be able to ask general questions about their use. Please note there are important distinctions between demo and live accounts. The pricing on the demo platforms, while indicative of live pricing, is not a mirror image of what you will see if you sign-up for a live account. The pricing and spreads are indicative and should give you a good feeling for how a live account would function. Liquidations performed in demo accounts are based off the MetaTrader balance while live account liquidations are calculated off the Back Office figure.


^ Back to Top

How can I access my Back Office equity?

Using our Report Viewer, FXDD account holders can access their personalized back office statement at any time. Your MetaTrader 4 login and password can be used to login to your report viewer, which will give you a live snapshot of your account statement at any time, including your back office margin. When you enter your MT4 login in the report viewer, make sure you include the prefix 4MT. For example, if your account number is 123456, the Report Viewer login would be 4MT123456. Use the following link to access our report viewer:fxlive1.fxdd.com:3871/c/reportviewer/login/startReportViewer.

^ Back to Top

Can I register for an FXDD account online?

Yes, click here to access the online live account registration form.

^ Back to Top

Why choose a Mini trading account?

The Mini's smaller contract size:: allows for familiarization with the FXDD trading platform; offers experience with FXDD's superior execution assists with the learn curve when new to trading in the forex markets; thereby reducing risk. . The Mini account also leverages the same tight spreads as a Standard account. There is no initial required minimum deposit. With a Mini account a trader typically trades lots of 10,000 units of the base currency. It is possible, however, to trade larger lot sizes in a mini account, subject to available margin.

  • Lot Size — 10K units
  • Maximum Leverage — 50:1

^ Back to Top

Why choose a Standard trading account?

A Standard trading account is appropriate for people who can contribute more capital to a speculative risk/reward investment.

  • Lot Size — 100K units
  • Maximum Leverage — 50:1

^ Back to Top

How do I open a Mini or Standard account?

Be sure to select the appropriate check box on the Online Live Application form .

^ Back to Top

What documents are needed to open a new live account?

The following completed documents are required:

^ Back to Top

Does Metaquotes offer an API?

Metaquotes offers a free API for the MetaTrader 3 version. Although, the API is available to the general public. Trading through an API normally falls under certain terms and conditions. Please review the API. If considering using the API with live accounts, we suggest that you contact our Support Department to ensure we understand your project.

^ Back to Top

Does FXDD offer trading in an IRA?

Yes. To open an IRA account with FXDD, first open a custodial/trust account with one of our IRA custodial firms.

The firms listed below will help you open your account.

Once your IRA custodial account is opened, you will need to fill-out all of our standard opening applications and documents and submit them to your custodial company. The custodian will complete your application and will make adjustments, such as change the account from being in your name to Entrust Admin FBO ____________, as needed. Upon completing your forms, the custodial firm will forward all of the paperwork to FXDD. FXDD will open your IRA as a regular account. Deposits or withdrawals may not be made directly into this trading account. Deposits and withdrawals must be done through your selected custodian. If you have specific questions regarding IRA's, please speak directly with your custodian.

^ Back to Top

What information do I need to set up a corporate account?

Click here to see what information we require to set-up your personal account. Please note, that independent corporations will require different forms. For assistance with this process contact an FXDD representative at 1.866.FOR.FXDD or email or sales@fxdd.com.

^ Back to Top

How much does FXDD charge for wire transfers to or from my FXDD Account?

Nothing. FXDD does not charge a wiring fee. If a charge has taken place on any incoming wire to FXDD, please contact your personal bank and ask about their wire transfer policy, as it may differ.

^ Back to Top

How do I submit new account documents?

Our online account application form allows you to complete and sign all necessary documents online. The exception is that you must provide two forms of ID, if you are not a resident of the USA. You may also print, scan and email documents to our Sales Department , fax the forms to: 212-937-3845 or mail to the following address:

New Accounts Department
FXDD
7 World Trade Center
32nd Floor
New York, NY 10007

^ Back to Top

Does FXDD issue an official annual profit/loss statement (similar to issuing 1099 tax form)?

Income reporting is the responsibility of the individual customer. Clients can print out a report from their trading platform.

FXDD Trader Platform

  1. Select ACCOUNT from the top menu.
  2. Select REPORTS.
  3. Choose ACCOUNT STATEMENT from the drop-down menu.
  4. Select the desired time frame.
  5. Choose GET REPORT.
  6. Save the file on your local computer.
  7. You can now email or print out your trading history for tax preparations.

^ Back to Top

Does FXDD publish quarterly account numbers in accordance with the CFTC's regulation?

Yes, FXDD publishes a Quarterly Retail Forex Customer Account Disclosure. Please see below:

Quarter

Total Non-Discretionary Accounts

% of Profitable Accounts

% of Non-Profitable Accounts

Qtr 1-2013

5707

36.15%

63.85%

Qtr 2-2013

5278

31.47%

68.53%

Qtr 3-2013

5118

29.11%

70.89%

Qtr 4-2013

4941

29.85%

70.15%

*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
** Pursuant to Section 5.18(i) of the Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries, computations that result in a zero number shall be considered a retail Forex account that was not profitable.

^ Back to Top

Is my account subject to inactivity charges?

If there hasn't been any trades executed in your account within any given quarter (i.e., every 90 days), your account will be subject to a dormant account administrative fee (the "Fee"). The Fee will be equal to the lesser of the remaining balance in your account or $15. If your account is assessed the Fee and your account balance is reduced to zero (0), your account will not incur any further inactivity fees.

^ Back to Top

You can get ready to start trading Forex now. FXDD provides free Forex education for various types of traders. If you want to switch brokers, moving your account from another broker is easy, and you can quickly fund your account and start trading your favorite currency pair once funds deposit in your account. Would you like to try a demo account? You can trade virtual currency pairs and see how your strategy stacks up. FXDD has software that can suit an FX trader's needs—from the novice to the professional. You can use MetaTrader 4, Mirror Trader or JForex and take advantage of our mobile Forex trading platforms. You can get informed about the Forex markets by watching our video series and reading our blog for technical and fundamental analysis that can help you find new trends in the Forex markets.

Products

Platforms

Accounts

Services

Forex Resources

About FXDD

© 2014 FXDD

NFA #0397435MEMBER, NATIONAL FUTURES ASSOCIATION

You may check FXDirectDealer, LLC's (FXDD's) registration and that of its Associated Persons by visiting the NFA's Background Affiliation Status Information Center (BASIC) atwww.nfa.futures.org. *During normal market conditions. The spreads are not fixed and may fluctuate with market volatility. Click here to see our spread chart.

FXDirectDealer, LLC ("FXDD") (CICI: 54930058T8RTMEHB3094) is currently seeking provisional registration as a swap dealer. Read More

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FXDD provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FXDD specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FXDD expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.