FXDD was acquired by 888 Markets Ltd Acquisition

FXDD, a prominent forex broker, has recently sparked widespread concern among its users due to reported difficulties in withdrawals. Many customers have voiced complaints alleging their inability to withdraw funds from the platform. This issue has escalated further with the recent circulation of an email to users, purportedly from FXDD, announcing a change in leadership.

According to the email, FXDD's founder, Emil Assentato, has transferred ownership of FXDD Trading SAC to a new entity, 888 Markets Group (Co. 13397886). This group, described as a consortium of UK-based companies, aims to uphold and continue FXDD's legacy of success. However, scrutiny reveals that 888 Markets Group holds a low rating of 1.49/10 on WikiFX, a platform that rates forex brokers based on user experiences and regulatory status. Importantly, WikiFX notes that 888 Markets Group operates without regulatory licenses, labeling it as a high-risk platform.

Critics and concerned users have questioned the authenticity of FXDD's email, suggesting it may serve as a convenient excuse to delay or deny user withdrawal requests. WikiFX has issued a cautionary statement advising users to remain vigilant and exercise caution when dealing with 888 Markets Group.

The controversy surrounding FXDD highlights the challenges faced by investors in the forex industry, emphasizing the importance of thorough due diligence and regulatory compliance when choosing a brokerage. As developments unfold, stakeholders await further clarification from FXDD regarding the implications of this ownership transfer and its impact on user funds and operations.

Warning! 888 Markets official website is not available. This is a red flag for traders.

About FXDD

FXDD Trading offers a range of market instruments, including forex pairs, metals, energies, indices, cryptocurrencies, and stocks, providing traders with diverse trading opportunities. The platform offers two account types: Standard Account, which provides low spreads with no commissions, and ECN Account, which offers ultra-low spreads but involves small commission costs.

However, one significant drawback of FXDD Trading is the lack of regulatory assurance, which may raise concerns for potential traders. WikiFX has given this broker a low score of 2.09/10.