Low spreads, zero spread option also available.
Customer service response on email may take a few hours, the trading platform may be slow to react occasionally.
Forex Club is an attractive online currency trading platform because of its low spreads. The overall reliability of the company is fairly good. Choose this platform if you are looking for the most competitively priced forex broker.
ForexClub (Online Currency Trading) Review - How do those spreads really stack up?
The Forex Club is a leading online forex trading platform based out of New York City. It provides all its clients with advanced trading solutions, quality customer support and training, and analytical tools to perform effective trades.
Inc. 500 recognized Forex Club as the fastest growing forex broker in 2010. A leading forex broker evaluation website Forex-Ratings ranked Forex Club as the “Best Broker for Beginners” in 2009. Forex-Ratings ranked it highly for its online videos, interactive seminars, comprehensive online education material, and its market signals incentive, which provides all first-time users with 15 market signals a day for the first 15 days.
Low Average Spreads
With its latest average spreads for EUR/USD and USD/JPY ranging between 0.6 and 0.8, the trading terms offered by Forex Club are fairly competitive. The average spreads are among the lowest in the industry. Forex Club executes market orders without using dealing desk interventions, which means that the traders have direct access to interbank market quotes.
Zero spread trading is possible with the Forex Club, which is an exclusive privilege for all traders. You can simply pay a flat rate of $0.40 for every lot of $1,000 and trade without spreads. Traders with deposits of higher than $1,000 receive a commission refund if their trade earned a loss.
Forex Club is registered with the Commodity Futures Trading Commission as a Futures Commission Merchant, and is also a member of National Futures Association. It maintains a minimum capital of $20 million to protect client funds. The company is in the forex trading business since 1995 and has earned a remarkable reputation for itself in the market. It provides reliable and competitive forex brokerage services to individuals, white label partners, money managers, and introducing brokers.
Advanced Platform Features
Forex Club’s advanced trading platform called ActTrader is one of the leading industry platforms. It offers instant execution, no dealing desk execution, one click trading, managed accounts, server based trailing stops, Trading Central and Auto Chartist analysis directly in the platform, and an iPhone application. The platform also includes everyday analytical reports written by the company’s in-house analysts.
Forex Club requires a minimum deposit of $10 to open a live account. If you deposit a higher amount upon account opening, you will be entitled to bonus benefits. For example, an initial deposit of $100 or higher will fetch you an additional $100 margin bonus, while a deposit in excess of $300 will give you access to unlimited marketing signals.
Minimum lot size for trading currencies is 0.01, and Forex Club offers 22 currency pairs for trade. Base currency leverage is 1:100, which will vary depending on the size of the account. For instance, the leverage for $100,000 to $200,000 is a maximum of 50:1 and for $200,000 and above it is 20:1. The company offers limit orders and stop orders, but does not offer trailing stops.
What Others are Saying
Forex Club’s excellent customer support in several languages, its advanced training courses for traders at every level, and its multiple deposit and withdrawal options for customer convenience come in for appreciation from the users. Forex Club’s fairly low spreads also appeal to many traders. Its demo accounts and training and support for beginners has earned it recognition as the Best Broker for Beginners.
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