Forex Club Customer Reviews and Comments

22 Oct 2009Gera
I trade with fxclub (russian) about 2 months. I haven&#39;t lost my money yet and i am a little bit in profit. <br />
Things that i don&#39;t like:<br />
1. Bad execution, sometimes you have to wait for the requested price up to 1,30 minute (if you are a scalper stay away), <br />
2. They don&#39;t allow to set limit orders near to the current price (must be more than 10 pips)<br />
3. The spreads in some currencies are insane (EUR/CAD 10 pips, GBP/CAD 15 pips)<br />
4. The SWAPs (for example if you have position in GBP/JPY and thinking to keep the position for 3 days you will pay the broker 3x8=24 pips so if you want not to loose money you must earn at least 24%)<br />
5. it is not an ECN broker <br />
Good things:<br />
1. The execution of the limit orders is perfect<br />
2. They always pay money if you request (i don&#39;t know about big amount of money)<br />
3. The platform is good but not perfect<br />
4. Plenty of educational material <br />
5. Deposits starts at 10$<br />
6. The service is good<br />
7. The bonus of 100$ (you can claim the bonus if the first time you charge the deposit at least with 100$ )<br />
Summary: FXclub is good among the "Dealing desktop" Brokers (bud they are all scamers) It is good for beginners (for small deposits and for educational purpose). If you can make money in FXclub you can make money everywhere. Yes you can make money in FXclub but not as many as you could in an ECN broker, but If you loose money constantly the better broker in the world will not help you.

6 Oct 2009Lefty
Albeit, their ExpressFX platform is a load of garbage: it&#39;s a gimmick to help complete newbies familiarize themselves with order making, etc. Their Rumus2 platform is a bit unorthodox in its presentation, and can be downright confusing. It is usually just better to watch prices and do your charting in MT4 and execute your trades from the platform.<br />
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If you require fast execution, then this broker is NOT for you. Their dealing desk often takes quite a while to quote a price. Scalping is a fool&#39;s strategy anyways (no, seriously). If you think you can be successful at forex through scalping, you are just kidding yourself.<br />
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A lot of negatives so far. So why do I rate it 3 stars? Well, if you can get past all of the inconveniences, take a look at the terms of trading. They are actually quite favorable to the trader compared to many other brokers.<br />
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First of all, there are no margin calls (ie your positions are closed once equity is zero, not when available margin is zero). Many balk at this and say it encourages traders to risk their entire accounts. But let&#39;s be serious here: if your account size is $1000 or smaller, having a margin requirement is silly, since in the big scheme of things $1000 is pocket change. This actually ends up being an advantage to the trader because it gives him extra drawdown depth.<br />
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My whole point regarding the margin call issue is that, unless you are doing 10 lot positions or larger, margin requirements are unnecessary because there is hardly any risk for the broker to absorb.<br />
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The next advantage the terms offer is that each dollar in your account can buy 100 units of BASE currency, regardless of the exchange rate. So with 100 dollars you could buy 10000 GBP/USD even though this would be impossible otherwise, since 100 USD at 100:1 leverage should only buy you 6250 GBP/USD at the current exchange rate.<br />
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To the keen eye, it becomes apparent that this broker is really trying to lessen your barriers to entry if you have a small account size.<br />
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Their spreads are 1 pip larger than average on some pairs.<br />
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I got a withdrawal through paper check no problem; it took about 2 weeks (if you think getting a check in 2 weeks is too slow, then I don&#39;t know what to say).<br />
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I will probably be labeled a shill because I have submitted a detailed review and am not part of the army of crybaby losers that pervade these ratings boards.

21 Sep 2009David
I think nobody can beat there spread with you take loss trade reverse commision. Great service trading with them for while no issue with service. very polite staff.I think dont listen to people try yourself with $10 dollar you will see the difference compare to other brokers.

17 Sep 2009Stiff
But also anything good I will not tell about FC. Russian cannot be trusted.

14 Sep 2009George, Texas
Can&#39;t say anything bad about this broker. Execution, quotes, dow jones news, market signals - 4*

25 Aug 2009Leeon
Anything good. One guy from Russia spoke to me about them. The deceit from their party is very well latent. But it at once you understand, as soon as at them you will trade. The wrong prices and work against clients it is style FxClub.

24 Aug 2009Rufin
ALL BS. Good broker. Fair quotes. No hidden fees. 5*

22 Aug 2009GREGORY
All other brokers already a lot of time execute orders instantly but only FC cannot do it. Thus FC has an awful trading platform which incorrectly shows the prices and indicators work not as for all others. Therefore their service very much poor quality.

20 Aug 2009Vasily
I can&#39;t say they too slow. It takes time to get a quote for market order but this quote is guarantees for 5 seconds which i very beneficial. I like their terms. Would recommend to try them.

18 Aug 2009Sautas
All fine day. I will disagree with those guys which encourage FxClub. When the broker cannot execute in time my orders on trade it the broker badly means works and for it bad service.

5 Aug 2009Sweet
I do not accept these deceivers.

6 Jul 2009Shah
I have been trading with this Broker for 1 year. Everything is perfectly fine. I have deposited/withdraw money many time. I have never had any issue unresolved with them. I also have account with FxPro. I think both brokers are OK. I have found one problem with FxClub.i.e it takes too much time to display Quote/Price when you want to Enter Position. Sometime it takes 1 minute to display requested price.

2 Jul 2009jon
It is lie. It is very artful calculation.

2 Jul 2009Andrew
I love their platform. No spreads and commissions only for profitable trades. Basically, if I don&#39;t profit I don&#39;t pay anything for a trade, if I do profit, I pay a small commission. That&#39;s awesome!

2 Jul 2009St. Frank
It at all that that is necessary for trade. Trading terminal Forex Club deceives it on indicators of trade gives completely not true and deformed signals. So to trade it is very unprofitable. Still there are many questions because I cannot trade under that price which I see in their platform. They give the incorrect prices. It is a serious deceit.

2 Jul 2009St.Marcus
Stop bullshiting. On ExpressFX trading platform you trade with NO SPREAD at all! How the prices can be wrong? And you pay FIXED commission only when you green. This is a best term availiable.

2 Jul 2009jon
This Club cannot be called Club at all. Which they tell all those words about themselves it is a lie. I see after reading here one guy wishes to rehabilitate these people but it cannot be the truth because other people all see and tell the truth about this Club.

2 Jul 2009Simon NY
Yes it is final to all local people clearly that forex club is a deceit. If the broker gives a spread a zero it designates that they will earn nothing from trade of dealers. Then why they such good? Because they would want that we did not win and specially place traps for this purpose.

1 Jul 2009Francesco
At Forex Club you trade with ZERo spread and you pay commission only when you profit! Its says it all. It is a best trading terms on the market.

30 Jun 2009Joe
Piter, let me ask you three questions. Do you really think that all Russian are mafia and fraud? Would you please tell me who do you think the best nation in the world? Don&#39;t you think you going too far?

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30 Jun 2009ADAM SOFTINGER
Very artful company. I cannot be surprised if against these people never win. When I played with them I have understood me wish to deceive. Always at my victory they did not start up me in game yet have not taken away from me money. People you cannot trust them because they swindlers.

30 Jun 2009Creg
Good company. Opened account 2 weeks ago and got a $100 margin bonus plus Autochartist. Everything works perfect so far.

30 Jun 2009Piter
We should not visit because there are simple calculations of deceit FOREX CLUB and it is visible to local people. Russian it is a mafia and fraud.

29 Jun 2009Rich
Mudslingers, you can write whatever negative comments you want; any intelligent person could simply visit NFA&#39;s site, input Forex Club&#39;s NFA number into their search and see that everything you&#39;re saying is false. Their records don&#39;t lie.

27 Jun 2009Mr. Bug
I precisely know that NFA are not always happy Forex Club. One guy from NFA to me has told that this Club will soon have the big problems. I have not wanted to give them the money and have returned all back.

26 Jun 2009Sam
Guys, they are real. 100%. They are NFA regulated broker with $20,000,000 capital. Of course they not going to put themselves at risk by placing false on website. So, it's true then...<br />
And they just won a Best Broker for Beginners Award on Forex-ratings.com

22 Jun 2009Piter
People you should leave from Forex Club. They are swindlers. They deceive people. I some times read that anybody one million has not won against them. Their invention about it says lies to us.

12 Jun 2009Devoted
Three "different" people with the same atrocious grammar are complaining that FX Club charges a $100 commission cost. Interesting.<br />
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Forex Club charges $0.40 per every 1000 units of currency traded, so in theory you can spend $100 in commission charges if you're trading a large sum of money. To "jon, olaf, paul", I don't understand your math. Try this equation:<br />
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Let's say an average trader wins 30% of the time he/she trades.<br />
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You are trading with __insert_name_here__ Broker who charges 2 pips per trade (I feel like 2 is a fair, average number for a major pair). You make 10 $1000 trades, and therefore spend 20 pips. Of the 10 trades you make, only 3 are successful. You paid 20 pips for these 10 trades, of which only 3 are successful.<br />
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Now you're trading with Forex Club. They charge you 4 pips per $1000 trade. You make 10 $1000 trades. Of these 10 trades, only 3 are successful. You initially spent (4 X 10 =) 40 pips for these ten trades, but since refunds are issued for the losing trades (70%), you only spent ((40-(7 X 4) =) 12 pips for these 10 trades, of which only 3 are successful. If you want to do some more math here, you can say that (hypothetically) your average trader will only spend 1.2 pips for each $1000 trade he/she makes.

11 Jun 2009paul
2 weecks waiting a email and no answer, he have hidens comision cost so you never make wins hier , charge 100$ comision when you make 50, 60 $ profit the comision bring you to loose money, false 0 pip liar company

11 Jun 2009jon
.4 comision is a liar no answer me he charge me 100$ every trade a make no answer so you lost money after the comision you are in red , obviosly is a scam the propagando 0 spread !! beware to use no answer not serious bussines , 0 psread is not real you losee when you make profits and wins becouse use a 100$ charge comison and not the 0.4 $ per 1000$ invested , 1 lot ist 10000 unit so multiply this 10x0.4 4 $ is equal to 40 pip comision so is not real 0 spread you pay more on this and so i ask emailed and they dont answerd me so hiden cost make profit in 5 positions but the 100$ charging bring me in red zone in every trade when you win 30 or 50 $$ you lost than the half and more 100$- 30$ )= 70 $ loses when you made profit never only he make profit whit you twice !!!!!!!!!!!!!!!!! warning claim this company to forexpeacearmy to be sanctioned beware to uses!!!!!!!!!!!!!!!!

8 Jun 2009olaf
Say 0 spread pip but have hidden cost that they don't say you, 100$ commission every trade.
So when you make 40$ win you lost 60$. It is not a clue 0 pip.

23 Apr 2009HELP!
I want to keep having the option of hedging, I need a non-US broker recommended, preferably with MT4 or a well recognized proprietary platform! PLZ help me!

20 Apr 2009Rich
To Ben, they only take commission costs when you, the trader, makes a profitable trade. Therefore, they only make money when you make money. And that commission cost is a flat rate, which makes me question what concealed price you're talking about. In addition, no slippage occurs on their platforms. I don't think you ever traded with them.

15 Apr 2009Ben
It&#39;s all hype and fraud. Concealing of real prices, shift against the client, slippage...<br />
They ignore you when you demand to open or close a position. I faced it several times! They care only about their profits and their goal is to rob you out of your money instead of providing access to world exchanges.

24 Mar 2009Rich
Great for long-term trading. Excellent signal tracking software. Smooth withdrawals, even when dealing with large sums of money.

18 Mar 2009Francis
What drew me to Forex Club was their willingness to teach new traders (like myself). I felt safe trading with a company that was so open and willing to educate their customers. Their operators (so far) have been very pleasant and constructive. I was also impressed with their commission return policy. I read about this on their site, but it wasn’t until I was actually trading with them that I could really appreciate this promotion. So far I’ve had nothing but good experiences with them and have nothing bad to say. I hope they keep up everything they’re doing.

27 Jan 2009PETER, Chicago
Never had any problem with them. They have great cuctomer service. I called them a few times a day and all people were very helpfull.<br />
Dealing with them for over 6 months. Never had problem with transfer money to my bank account.

14 Jan 2009FXCLUB
What a Strange problem Here!<br />
<br />
fxstreet.com/forum/showthread.php?goto=newpost&amp;t=48681

17 Dec 2008Steve
The company is crooked. I&#39;ve been a trader for over 15 years. I made over $1600.00 in the EUR/USA in three days on the ExpressFX platform and quess what? I tried for over an hour to bring up a quote to close out my position and it wouldn&#39;t let me! What do you want to bet when my position goes to break even it lets me get out? LOL

6 Nov 2008Newyorker
0 SREADS! COMMISSION JUST $0.4 AND YOU PAY IT ONLY IF YOU IN GREEN! BEST OFFER!

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30 Jul 2008jeffrey
For a broker to offer 0 pip spreads its means that they will make their money on the loser traders, so fx club is a market maker who slips, requotes, miss fills, diverts prices just like the fathers of market making FXCM &amp; Oanda.... they all screw you once you start making money, when your a loser it works fine.

4 Jul 2008Terry James
Becareful before you put your money to any types of forex trading which are displayed so nice for eyes to see.What we want is a serious business dealing with forex and i don't want you guys to be dumb by these kind of &quot;forex nice trading platform&quot; better get out stay away from those 90% FOREX invester loser.
Remember those winining FOREX TOP DOGS (5%) so be as part of them..Learn and gain knowlegde about Forex..TQ