FXClub – Fx Trading Broker

FXClub is an online forex and futures broker, established in 1995, and one of the longest running online retail forex brokers. FXClub is different from your average online broker in some ways for good and bad, which we will look at in this review. What sets FXClubs apart from other brokers is mainly one thing: Zero Spreads. Most online brokers make their profits by adding a few pips on every price they charge the client. This way they make money of every trade being made. How much is being taken in spreads is different from broker to broker, but it is a known fact that brokers that charge spreads often raise them during hectic trading times, such as when there is a release of forex news. FXClub does not use spreads, but instead charges a fixed commission on all trades.

This is in my opinion a good thing. Why? Because the broker will then be interested in you being successful and profitable. After all they will make money whether you win or lose, so it is in their best interest to see you succeed. Brokers who take their commission in spreads are more likely to engage in practices such as stop-loss-hunting and manipulation to get their profits. Even if this is rare, it is a real risk when you are trading online with some brokers.

Well, FXClub does offer you the option to trade with spreads in a classic account, so it’s really up to you.

FXClub has other nice features for the beginning and advanced forex trader. You can open a mini account with only $10. While $10 is obviously never going to be enough to make any meaningful money it is still appreciated that you can open an account and start trading with no more than that.

Of course there is also the option to test your skills first with a demo account. Try your trades on real time data and a fully functioning platform before committing any real money. Always recommended for new traders.

A thing that I really liked about FXClub was the large educational library available to clients. FXClub has been around for a long time and I think it shows in all the comprehensive guides and tutorials they have had written over the years. They also offer very good instructional videos and interactive seminars.

Another practical advantage of forex club is the desktop and mobile software available, which makes trading forex trough FXClub very flexible.

I took the time to test their support and as I can tell, they are open 24 hours and generally friendly.

I have traded with FXClub for some time now. It was actually the first broker I started out with some years back with only a couple of hundred bucks and very green. As I learned and won (and lost), I never had any problems with them, withdrawing and deposing was fast. They are definitely a recommended broker for new and old traders.