There are many stories going around about fxclub — some of which are true, and some of which are highly sensationalized — which is why we chose to dig deeper into their operation, and see what kind of information we could come up with. And by information, we of course mean a relevant fxclub review that you can use to decide if you want to try your hand with pips trading in this broker’s system.
What FxClub Offers
To say the least, their homepage is very visually pleasing. Videos, moving graphics, and a slick professional feel really adds a dose of credibility to their operation over there. Their website has been around since 2000, so they’ve been in business for a while – perhaps being the reason their site looks so good.
A quick skim through their front page will tell you a number of things. First off, they offer a substantial amount of Forex trading courses, including educational videos, guides, seminars, and more. Clearly all of their years of being in business has taught them that to bring in customers, you need to offer a lot more than just being a broker. All of the above mentioned aspects in addition to their community forum make fx club seem more than qualified in the “services” department.
As with just about any other major online Forex broker this days, they offer a free demo Forex trading account. On top of your free practice account, you get access to an Fx training guide that will help you through each trade that you make.
Their minimum deposit is comparatively low at a meager $10. Additionally, fxclub also provides a free $100 margin bonus if you deposit 100 dollars or more, and if you deposit $300 or more they will provide you with an unlimited amount of market signals.
What People Are Saying
Sites like Forex Peace Army are flooded with reviews ranging anywhere from really good, or depressingly bad. Nevertheless, the main points people make are in regards to their trading platform, customer service, and their terms of service.
FXClub utilizes a unique trading platform called the Express FX Platform. Unfortunately, this system has not been very well received by the public, and Forex Club has lost many of their more experienced traders because of this. For us, MetaTrader 4 is the standard, and we just don’t see Express as being up to snuff in relation.
Many people comment on long wait times when it comes to their customer service. There have been numerous reported instances of people asking for quotes, but getting such a long delay from the trading desk that any profits they would have hoped to earn had already fizzled away. Plainly put, without timely quotes, making educated Forex trades is close to impossible.
A lot of traders find things to be concerned about in this broker’s Terms of Service. One commonly complained about clause in their TOS is a mandated minimum 12-15 pip stop loss on top of their fixed commission, or in other cases, their spread. These extra fees are simply too much for many traders, which causes them to leave in search for a cheaper broker option.
As a final point in this fxclub review, we did not find that their service is a scam, save a handful of unhappy customers. However, ruffling the feathers of some of your clients almost comes with the territory of being a major Forex broker these days. So, if you are interested in trading with these guys, just know that just about any broker has positives and negatives about them. It’s up to you to weigh those pros and cons, and make a definitive choice.
Other Pages You Might be Interested In;
- Analyzing the Forex Market - 4 Key Things You Must Focus on Whenever You Are Anticipating a Trade
- How to Profit With Forex - 3 Tips Only For Those Who Take the Foreign Exchange Market Seriously
- Big Forex Profits - The Crucial Trading Mentality That You Must Use to Earn Money While You Sleep
- Forex Trading - Reasons Why Forex Traders Fail and How You Can Rake in the Profits As Soon As Today
- Learn Forex Trading - Three Things You Must Be Doing in Order to Maximize Your Forex Profits