FX Club Broker
Sun 03 May, 2009ForexBrokerGuide
ForexClub:Forex broker registered Futures Commission Merchant (NFA ID #0358265) and a member of the CFTC which offers Forex Education,Forex trading platform,Forex market news,Forex Chatting forum service.
ForexClub is currently headquarted in 1200 South Avenue, Suite 203 Staten Island, New York 10314 United States.You can contact them with the Phone: 1-800-881-3809
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Says:
Is this the only post on this?
July 14th, 2009 at 12:34 amSays:
Well, that was a very helpful review! Good job, also what i wanted to know was, if fxclub is a NFA Regulated broker, can i take an action if i don’t get my withdraw? Or let us say can i face withdraw problems?
September 19th, 2009 at 9:00 pmSays:
Hi. I read a few of your other posts and wanted to know if you would be interested in exchanging blogroll links?
September 25th, 2009 at 5:15 pmSays:
How is money released in the market? How, on what basis and how much money is released?
September 26th, 2009 at 6:51 amSays:
very good site. Keep up!
December 1st, 2009 at 11:46 amSays:
Do they support headging?
December 1st, 2009 at 12:03 pmThanks
Says:
Thank you for excellent review!
I 100% agree with you that FXCLUB is not cheap! Obviously, they charge exactly the same as FXCM, FOREX.COM and many other brokers.
How much you pay them depend on what is your “profit trades ratio†is. If you do 7 losing trades out of 10 that means you average commission (including their refunds) would equals to 1.2 pip spread.
Here is a calculation:
10 trades * 4 pips = 40 pips paid
7 losing trades * 4pips = 28 pips refunded
40pips -28pips = 12 pips paid on 10 trades which is 1.2 pip per trade.
To be honest with you I did not see many traders who have profit factor (ratio) better then 5. Which means more than 5 wining trades out of 10? Because usually you get several small stops executed before you get a right enter which bring you hundreds of pips.
Anyway, even if you do 5/5 your charges equals to 2 pips spread.
The other positive factor is that they have $0.4 commission across the board, so you can trade AUD, NZD and crosses with the same commissions. So, FXCLUB is a discount broker on these currencies.
Execution: They utilize RFQ system (request for quote)
There are two sides of it. Bad side is that you need to request a quote for trade. Good side – this quote is guaranteed for 4 second and can’t be accepted by customer even if the price has already changed.
I can’t say that they are best but I can say for sure that they have some features which you will never find in any other place.
Good luck for everyone!
December 10th, 2009 at 3:11 pmSays:
Great review thanks…in the forex its very tough to find good broker. I am using fxcm, but there soread is way high and trade does not enter quickly….
Please let me know, which broker is good for small trade like me with $2000 capital and to make some money every day to pay off extra bills.. Please let me know a good broker.
I am thinking of AvaForex is it good ?
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December 18th, 2010 at 7:20 pmSays:
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December 19th, 2010 at 8:10 amSays:
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December 19th, 2010 at 10:53 amSays:
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December 21st, 2010 at 11:44 pmSays:
отличный сайт!
December 22nd, 2010 at 9:25 amSays:
Interesting – and inspiring. Thanks.
December 22nd, 2010 at 12:48 pmSays:
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December 25th, 2010 at 12:58 amSays:
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December 25th, 2010 at 5:47 pmSays:
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January 4th, 2011 at 12:01 pmSays:
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January 4th, 2011 at 12:19 pmSays:
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January 4th, 2011 at 7:54 pmSays:
Forex Club is the worst broker I ever tried. Do yourself a favor and flush your money down the drain, it makes for a better youtube video than this!
March 9th, 2011 at 2:41 pm