Gandalf The FX review of:

Dear Clients,

In light of the recent announcements regarding the Forex industry, we would like to bring to your attention some very important, but not often advertised facts about trading with FXDD.

Facts:

 FXDD automatically executes trades without any intervention.

What does that mean for you? Unless you call to place an order over the phone, all trades you make will be processed and executed automatically by our system without any intervention by anyone at FXDD. Simply put, if we show the price and you trade on it, you have a deal. No asterisks and no fine print. Period.

 FXDD does not use third party middleware to connect MT4 to interbank liquidity.

What does that mean for you? Your trading does not depend on the trials and errors of a software company that does not serve you, but instead serves the broker or the other side of your trades. If FXDD fails we make you whole, period. That is why we like to be in control of our technology. This is why FXDD's Metatrader 4 consistently performs so well and why FXDD's Metatrader 4 is preferred by traders who develop automated trading scripts called Expert Advisors; they know they can rely on our experience and service.

 FXDD does not use any notorious "virtual dealer" trading server plug-ins.

What does that mean for you? Apparently, this plug-in can be used to allow for manual execution or tweaking the execution parameters on the trading server. We have never used these plug-ins and we don't plan to ever use them. And by the way, the NFA knows how to audit for this.

FXDD's goal is to offer excellent service and execution to our clients. We offer top-flight service, personal attention and we care about and listen to our customers. We endorse client education because the more educated our clients are the more informed they will be when choosing which Forex dealer to trust and want to do business with.

Lubomir Kaneti
Chief Operating Officer
FXDD

Advice From Gandalf The FX:

I received this email today from FXDD. From my point of view it’ a pointless email and in simple terms  FXDD isjust restating they are a dealing desk.
 
In the first paragraph they state “FXDD automatically executes trades with out intervention.” This means they assume risk. They take your trades and instead of redirecting them to a bank. This also means they control the market and can make any prices they want to in order for them to make money. This is a perfect definition of a dealing desk. 

In the second paragraph they state “FXDD does not use third party middleware to connect MT4 to interbank liquidity.” Again FXDD is making legitimate that they are a dealing desk. They’re pretty much restating that they take all the trades themselves and assume the risk. They don’t use a middle man or bank to assume their risk. And since they don’t use a middle man they control the market prices themselves.

The third paragraph doesn’t make sense. Plug-ins take what people do at a dealing desk and automatically do it on the platform it self. Plug-in’s skip a step in the dealing desk process.  Also a plug-in is very simple to delete, it’s a simple right click and delete.

Gandalf The FX