Forex Club
| Ratings |
|---|
| Overall Rating |
5 |
| Safety of funds |
3 |
| Software ease of use |
7 |
| Tools and resources |
2 |
| Set-up process |
5 |
| Customer support |
6 |
| Timeliness of application |
6 |
| Funding options |
6 |
| General |
|---|
| Dealing desk/NDD |
DD |
| Minimum account size |
1 |
| Max leverage |
100:01 |
| Application processing time |
1 Business Day |
| Fixed spreads |
 |
| Fractional pips |
 |
| Automated trading |
|
| Offer options |
|
| News and Charts |
|---|
| Free charts |
|
| Free charts with broker feed |
|
| Premium charts w/feed |
|
| Trading off charts |
|
| News |
|
| Economic calendar |
|
| Applications and Usability |
|---|
| Integrated charts |
|
| Integrated news |
|
| Margin watcher |
|
| Trailing stops |
|
| Web based application |
|
| Downloadable application |
|
| MT4 available |
|
| Training video available |
|
| Usability of software (1=poor, 5=very good) |
|
| Courses and Webinars |
|---|
| Free training signals |
|
| Webinars |
|
| Beginner course |
|
| Intermediate course |
|
| Advanced course |
|
| Other Details |
|---|
| CFTC/NFA member |
|
| FSA (London) |
|
| Other (by whom) |
|
| Segregated account available |
|
| Segregated account standard |
|
| Client funds held separate from operating funds |
|
| Balance sheet available |
|
| NFA member page |
|
FX Club Basics
FX Club is a Staten Island based Forex firm that boasts their biggest selling point as having no spreads, which means that the bid and ask price are the same and traders pay a commission. In FX Clubs case, this is $0.60 for every 1,000 units of currency which is $6 for a 10k position. In the case of EUR/USD where a 3 pip spread is common (which equates to a $3 cost of entry) this is a little high but for a pair like GBP/JPY where 9 pip spreads are common this is a good deal. They also provide refunds of the commissions for non-profitable trades. FX Club is a dealing desk firm.
Most Popular Features
Refunding commissions on non profitable trades
Trading tools
FX Club is pretty bare bones when it comes to trading tools and resources. Their site provides news from Dow Jones and only 1 very basic forex chart.
Education
FX Club doesn’t provide any educational courses or webinars. So if you are new to the forex market, this may not be the best broker for you. They do have a fairly popular forum for traders to ask questions.
Spreads
FX Club has two different trading options. There newest is ExpressFX which has no spreads, but instead charges a commission of $0.60 for every 1,000 units of currency traded. They also offer ClassicFX which has spread but no commission. Their spreads range from 3 pips on EUR/USD to 15 on GBP/CAD.
Regulation
FX Club is regulated by the CFTC and an NFA member since 2005. They currently have no actions listed against them.
Forex Club
