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Residence, Regulation, and Company Management Structure
FXDirectDealer, LLC () is a subsidiary of Compagnie Financire Tradition.
Postal address of an office in New York is stated on the site, but there is no information about the registration of the company. There isn’t any information about managers or structure of the company either.
Company’s Market Position
The company names itself a broker and it is actually ECN.
No liquidity suppliers are mentioned.
The company offers a traditional set of accounts: individual, guided, for Introducing Brokers, White Label. Trust services are not offered.
There is some general information about insurance guarantee for trading accounts, but neither the insurance company, nor the sum is stated.
Moreover, it is said, that the guarantee was closed in July 2006, but the firm will renew it . Information about insurance is mentioned only on the Russian version of the site, but nothing is said in the English one.
Types Services Offered
The company trades 20 currency pairs quoted by stream method for the volumes of transactions not more than $3 millions. Standard (100000 units of base currency, minimum deposit $5000) and mini (10000 ed., minimum deposit $500) trading accounts are offered, marginal requirements make according to 1% and 0.5%. There is no information on whether it’s possible to combine standard and mini accounts or not.
For institutional clients, trading in gold and silver is offered through dealing service.
In the FAQ section on the site it is stated that the level of liquidation margin is 80% from initial. Judging by the example, illustrating marginal requirements in a section , it is possible to expect a liquidation level of 40%. Thus, it is possible to learn this important factor only through a demo-account.
Standard spread of 2 pt is made for EUR/USD and USD/JPY., for other majors – 3 pt., size of spreads for other courses is not mantioned on the site. The company specifies, that spreads depend on market conditions, and no guarantees of their stability can be given.
The transfer of the opened positions to the next trading day is described on the site in accordance with the traditional rules of SWAP, the rates of payments are stated only on the English version of the site.
Thus, it impossible to define the cost of trading judging by the information given on the site.
Opening an account is possible directly from the site or through sending some completed forms.
Depositing an account is made by a bank order, by check or through the system.
There is a small reference book and FAQ in the section, educational information is wan’t found. Demo-accounts are offered, but you may use a demo-account only for 90 days.
The site has three versions in different languages – in English, Russian and Chinese. Russian and English variants are different in many important aspects. Unfolded and detailed analyses are given only in Russian, but a calendar of the expected events quite limited, by the way) was found only in English.
Interactive support of users is conducted by phone and e-mail.
The Trading Platform
The company offers three trading platforms to the clients: FXDD Trader, Meta Trader and Power Trader for institutional clients. All of them are workable, and, judging by the short descriptions, are approximately equivalent in respect of functionality.
Site Design and Ease of Navigation Comments
The site, apparently, is done off-hand. It’s not overloaded by information. The structure of the site is simple, navigation is primitive. The design seems to be a bit careless, e.g, there are transfers from one language to another, or unexpected transfers on the home page. The table of contents is different in different languages.
* 3 different but equally workable trading platforms, which satisfy the needs of all sorts of clients.
* Unexpected transers from one language to another and to the home page.
* The information on the site varies according to the language.
* Strange situation with the insurance.
* The information about the company’s structure and managers isn’t complete enough.