BackgroundForex Club is an NFA regulated forex broker headquartered in the US. The firm serves clients in over 50 countries, with 1000 new clients opening accounts every day, according to its website. Forex Club is an NFA regulated broker, with ID 0358265. Founded by Michael J. Felice, a trader with more than 25 years of experience in the futures industry, Forex Club is a bold and innovative broker with a lot of unique aspects.
Unique Features of Trading with Forex ClubThere are so many unique aspects of this firm, we have a little difficulty deciding on where to begin. Unlike the vast majority of forex brokers, the ExpressFX platform of Forex Club doesn’t manipulate the bid-ask spread for compensation. Instead, the firm charges a flat rate of 40 cents for every 1000 USD traded, regardless of the currency pair chosen, or leverage. What is more, Forex Club will waive this fee if the trader makes a loss upon closing a position. In other words, if you made a loss trading with Forex Club, there’s no fee, straight and simple. Since the firm doesn’t benefit from a widened bid-ask spread, it is also the only one among currency traders to offer a zero spread trading opportunity with the ExpressFX option.
Deposits and WithdrawalsThe minimum deposit requirement at Forex Club is a miniscule $10. Bank wires, checks, credit cards, Paypal deposits are all accepted, with funds becoming available for trade immediately upon funding by credit cards, and in 1-3 days if a deposit is made via Paypal.
Account TypesThere are two types of accounts at Forex Club, but both require the same minimal deposit amount. The ClassicFX account is for experienced traders, and it offers all kinds of complex and advanced tools, including historical data, alerts, market news, and charting options. The ExpressFX option is for the less experienced traders as it offers a very patient and helpful interface to facilitate study and practice. Nonetheless, ExpressFX is also excellent for the quick day trader who will greatly appreciate the zero spread offer of this package. It is also possible to open more than one account to make use of both platforms.
Trading PlatformThe ExpressFX trading platform is agile and user-friendly. To give an idea of how accommodating the platform is toward beginners, we will mention that on activating the ExpressFX platform and attempting to open a position, you’re presented with a screen which asks you if you expect the pair to go up or down in valie during the time frame of your trade. Depending on your action, the platform will advise you to enter a buy or sell order. This attitude is maintained throughout the website and the forums available The platform comes with an Autochartist pattern recognition software which makes the task of the beginners, and even the skilled traders much easier. The platform can be accessed via SmartPhone, PDA, and it is also possible to use the software without installing it, utilizing the web-based option on the Forex Club website. .
Beginners SupportThe ExpressFX platform is designed specifically for beginners. The step-by-step instructions of the platform which explain to you how and why to enter a position, and the various forums where successful traders share their experiences all emphasize to the beginner-friendly attitude of Forex Club.
Security and PrivacyFor security, Forex Club implements the most advanced encryption technologies in the currency trading industry. In order to protect customers from intrusions to the servers of Forex Club, all data transfers between Forex Club and the client are routed through a secure online terminal named my FXCLub.
ConclusionIt is a privilege to be a member of the Forex Club. Not only will you have access to some of the most innovative tools, and competitive offers in the entire retail forex industry, but you will also have the privilege of interacting with millionaires and discussing your strategies with them on the forum of the website. Forex Club has made millionaires of some ordinary people, and the chance to interact with them is one of the unique features of membership with this exclusive institution. If you’re a beginning trader, you’ll appreciate the abundant support and the low risk environment that will make your first steps into this market painless and smooth. As you climb on the ladder of knowledge and experience, you will find guidance in the forums, and your graduation will be quickened by the vast choices that you’ll be offered. If you’re an experienced trader, the powerful and flexible options that you’ll find at Forex Club will completely change what you expect from a good forex broker. Zero spreads, low commissions (including no commissions on losing trades), a very efficient trading platform, low initial deposit requirements and low leverage options all make this firm a great choice for both the long term short term traders.
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