History and Founding
Forex Club is a well-established global forex and CFD broker that has been in operation for over a decade. Founded with the goal of providing accessible and reliable trading services, Forex Club has evolved into a trusted name in the trading industry, offering competitive spreads and innovative platforms for retail traders worldwide.
Mission and Vision
Forex Club’s mission is to empower individuals by offering them a platform for financial growth, through comprehensive trading tools, educational resources, and customer-focused services. Their vision is to create a transparent and secure trading environment where clients can confidently access financial markets and achieve their trading goals.
Global Presence
Forex Club serves clients in various regions, including Europe, Asia, and Latin America. The broker’s global reach is supported by multilingual customer service and region-specific offerings, allowing traders to feel at home no matter where they are located.
Advantages and Disadvantages
Key Strengths
- best trading conditions for novice traders;
- a wide range of financial tools: currency pairs, indices, futures, stocks, cryptocurrencies;
- the ability to choose the optimal leverage up to 1:1000;
- a wide range of deposit and withdrawal methods;
- always updated analytics and the informational section "Education".
Areas for Improvement
- You need to register to the official website to study the affiliate program conditions;
- temporary trading terminals malfunctioning;
- there is no detailed glossary on the site.
Security and Regulations
Licenses Held
Forex Club is regulated by multiple financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in the Seychelles. This regulatory oversight ensures that the broker adheres to strict guidelines, providing clients with a secure trading environment.
Fund Segregation and Insurance
Forex Club adheres to industry standards by segregating client funds from operational funds, ensuring that client assets are protected. Additionally, the broker offers client funds insurance, providing further peace of mind to traders.
Tradable Instruments
Forex Pairs
Forex Club offers a wide selection of forex pairs, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as exotic and minor pairs. Traders have access to deep liquidity and competitive spreads on these instruments.
Commodities
The broker provides access to a range of commodities including gold, silver, crude oil, and natural gas. These assets offer traders opportunities for diversification and hedging against other market risks.
Indices
Forex Club offers trading on major global indices, such as the S&P 500, NASDAQ, and FTSE 100. Traders can speculate on the performance of these indices, which are widely considered to be indicators of overall market performance.
Cryptocurrencies
While Forex Club offers some cryptocurrency trading, the range of digital assets available is limited compared to other brokers. However, the broker is actively expanding its crypto offering to include more popular coins like Bitcoin and Ethereum.
Account Types
Libertex
| Minimum deposit | 0 |
|---|---|
| Commission | 0.00003 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | - |
| Margin call level | 100 |
| Stop-out level | 50 |
МТ4
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:1000 |
| Margin call level | 100 |
| Stop-out level | 50 |
МТ5
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 17:40 |
| Margin call level | 100 |
| Stop-out level | 50 |
Fees and Charges
Spreads and Commissions
Forex Club offers competitive spreads starting from 0.1 pips on major forex pairs. Commissions may apply depending on the account type and the asset being traded. Traders are encouraged to check the terms for each instrument before placing a trade.
Swap Rates
Swap rates are charged for positions held overnight. The rates depend on the currency pair or instrument being traded, and they can either be positive or negative. Traders should review the swap rates for each asset before trading.
Inactivity Fees
Forex Club charges an inactivity fee on accounts that have not been used for a certain period of time. This is a standard practice to maintain account security and ensure that unused accounts are not left open unnecessarily.
Trading Platforms
| Available tools | Forex, ETFs, Commodities, Stocks, Indices, Metals, Energy, Cryptocurrency, CFDs |
|---|---|
| Cryptocurrencies | ZRX, AION, ARDR, ARK, REP, BAT, BNB, BCC, BTS, GBYTE, BCN, BTM, DCR, DCN, DGB, DOGE, DRGN, ETN, FCT, FUN, GAS, GNT, HSR, ICX, KMD, KCS, KNC, LSK, LRC, MONA, PIVX, PPT, QASH, RHOC, SALT, SC, SMART, SNT, USDT, VET, XVG, VERI, WTC, WAVES, WAX, ZCL |
| CFD | Forex: 48 ETFs: 20 Commodities: 6 Stocks: 150 Indoces: 29 Metals: 5 Energy: 6 Cryptocurrency: 46 |
MetaTrader 4 and 5
Forex Club offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are among the most popular trading platforms in the industry. These platforms offer a wide range of charting tools, technical indicators, and automated trading options for traders of all levels.
Forex Club WebTrader
Forex Club provides its proprietary WebTrader platform, which is accessible directly from any browser. This platform is user-friendly and equipped with advanced trading features, providing an efficient way to trade without downloading any software.
Mobile Trading Apps
The broker’s mobile trading apps for iOS and Android devices ensure that traders can manage their accounts and execute trades on the go. The mobile apps are equipped with all the necessary tools for real-time trading and market analysis.
Customer Support
Steps to Register
To register with Forex Club, visit their website and fill out the online registration form. After submitting your details, you will need to verify your identity before making your first deposit. Once your account is verified, you can begin trading.
Verification Requirements
Forex Club requires proof of identity (such as a passport or ID card) and proof of address (such as a utility bill or bank statement) for account verification. This is part of their KYC (Know Your Customer) process to ensure compliance with financial regulations.
Deposits and Withdrawals
Payment Methods
Forex Club offers a variety of deposit and withdrawal options, including credit and debit cards, bank transfers, and e-wallets like Skrill, Neteller, and WebMoney. These payment methods are secure and widely used in the industry.
Processing Times
Deposits are typically processed instantly, while withdrawals may take 1-3 business days depending on the payment method used. Bank transfers may take longer due to intermediary bank processing times.
Associated Fees
Forex Club does not charge any fees for deposits, but withdrawal fees may vary depending on the method chosen. It’s important to check the broker’s website or contact support for specific fee details before making withdrawals.
FAQ
Is the broker regulated?
Yes, Forex Club is regulated by several financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), ensuring a secure and transparent trading environment.
What trading platforms are available?
Forex Club offers MetaTrader 4, MetaTrader 5, and their proprietary WebTrader platform, providing flexibility and ease of use for traders of all skill levels.
What is the minimum deposit required to open an account?
The minimum deposit required to open a live account with Forex Club is $100, making it an accessible choice for most retail traders.
What types of accounts does the broker offer?
Forex Club offers Standard, Pro, and Demo accounts. Each account type is tailored to suit different levels of trading experience and market needs.
What fees and commissions are charged?
Forex Club offers competitive spreads, but commissions and swap rates may apply depending on the account type and the asset being traded. It’s important to review the broker’s fee structure before trading.
What is the maximum leverage available?
Forex Club offers leverage of up to 1:500, giving traders the ability to control larger positions with a smaller initial deposit.
Are demo accounts available?
Yes, Forex Club offers demo accounts for traders to practice without risk. The demo account is available for an unlimited period, allowing traders to refine their strategies.
How can I contact customer support?
Customer support is available 24/5 via live chat, email, or phone. Forex Club provides multilingual support to assist clients around the world with any questions or issues.