FXDD is now the trading name of FXDD Malta Ltd, a financial company that offers online trading services through the world popular MetaTrader 4 platform and Forexware’s desktop and web versions of XW Trader.
The desktop version is called Swordfish. It is a java-based platform and requires downloading a file that expands to near 200 MB after installation. Working in a java environment implies a higher load on the computer’s resources, making the choice of desktop version less attractive. The first impression is Swordfish looks quite like the web platform but this is normal, since the same company (Forexware LLC) has developed both versions.
After logging into the platform, the default workspace is loaded. It consists of several windows that can be resized, moved and detached outside the platform or docked back inside. The Toolbar is on the top of the workspace. All windows (panels) can be accessed here including drawing tools and indicators. Quote panel shows all instruments available for trading and there are two views – simple (as lines) and advanced (as cubes).
Clicking on the Bid or Ask price of the instrument opens the New Order window. It can be opened from the Main menu or by right-clicking on the chart. Customers can set the order parameters here including instrument, quantity, sell or buy, stop loss and take profit level and trailing stop value. Pending orders can also be placed here. Once the order has been placed successfully, a confirmation message appears (this feature can be turned off).
One-click trading can be activated from the corresponding buttons in the Quote window. Default trade properties can be defined (default stop-loss, take-profit and trailing stop) and after that the 1-click trading feature is active. This feature can be turned on and off by clicking on the ‘1-click’ button next to the symbol.
Open positions are displayed in the Information panel. Right click shows the menu where the position can be modified or closed. The panel consists of five tabs, each of them contains information about active pending orders, trading history, account log and alerts.
Charts window can be opened from the Main menu or by clicking on the chart button next to the instrument in the quote panel. Charts can be shown as tabs or in smaller windows at the same time by dragging and dropping them. There are 12 time-frames – from a tick to 1 month. Customers can choose among candlesticks, bars or lines. Graphical objects include trend lines, support/resistance lines and Fibonacci retracements. There are 25 indicators displayed alphabetically or in groups. Right click on the chart opens a detailed menu with additional settings including saving the current chart as a file.
The other two windows represent news and account information.