When it comes to trading Forex, a new trader has a lot of choice. They can choose to go with a recommended broker from a friend or family member, or they can choose to go with a broker offering great leverage or trading software. The problem is that neither one of these paths will net them at a broker that is honest and fair, as the recommendation from the friend may not be accurate, and a lot of leverage is not a good thing for a new trader.
I have traded at many, many different Forex brokers. Some have been great for trading, yet brutal on the service end of things. Others have had great service, but may have had high commission rates as a result. One common theme that I noticed, however, was the desperate attempt to build trust: plainly said, there are not a lot of brokerages that a trader can actually trust.
Why? It comes down to disclosure: what are their commission rates, what are the spreads like, and is there a deal desk trading against you? Many brokerages don’t tell you either way, leaving you to wonder if the trading that you are doing is bringing the highest return for your dollar. In my experience, it usually isn’t.
FXDD for New Traders
I started using FXDD several months ago after being disappointed by the customer service of several other brokers. As always, I gave FXDD the benefit of the doubt when I began trading. To my surprise, there were no complications or mistakes. The trading was smooth, and dare I say it, relaxed. The ease at which I was trading amazed me.
FXDD offers daily reports and in-depth analysis, as well as education and support for a new investor. This, combined with a solid trading platform, creates a great environment for a new trader to get their start with Forex.
If you are curious about starting Forex trading, but you don’t want to put any cash on the line, FXDD offeres a free demo account.
FXDD for Established Traders
FXDD overs a few solutions for tax-free trading, as well as advanced charting and tools. Their software is top notch, and it only took me a matter of minutes to figure everything out.
Advanced traders will feel right at home with FXDD, and should any problems arise (for whatever reason), their support desk is always ready to answer your call.
Though there are more efficient or more aesthetically pleasing brokerages, FXDD is a dependable, solid brokerage that offers feature-rich trading at a low cost. The value that they build for their clients is quite obvious, and I expect nothing but growth for this company. I would place more of a recommendation for them, but their information for new traders is somewhat lacking in depth.