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ForexClub Review

forexclub review
author Written by
Rex John Walsh
author Fact checked by
Sangram Mohanta

Last Updated on June 1, 2024 by TOP FOREX BROKERS REVIEW

It started in 1997, the Forex Club brand was one of the first retail brokers to appear in the online brokerage industry. Today it is the Forex Group of Companies. It consists of many entities, including several that use the FX Club, Forex Club, and Libertex brands.

The entities in the group are Forex Club International Limited. It is in St. Vincent and the Grenadines, Indication Investments Ltd (regulated in Cyprus), Forex Club LLC (controlled in Russia) and FC Forex Club BY (monitored in Belarus). The group also has education, and IT centers in Eastern Europe and Asia.

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How Forex Club Works:

The transaction costs depend on the selected platform and range from fixed spreads on the Rumus platform to variable spreads on MT4. At the St. Vincent and Grenadines, Forex Club (Libertex) offers MT4 Instant, which is free of commission, and MT4 Market, which has lower spreads but includes a commission on the trade.

Instead of displaying bid / ask spreads - which is an industry standard - FX Club shows a mid-point rate. It follows the percentage of commissions on the Libertex platform. The commission is transparent. But bid / ask on Libertex is not. Meanwhile, on the MT4 platform, the broker shows a standard buy/sell spread. Although the average spread data was not available at the time of our review.

The broker also offers different levels of accounts - silver, gold, platinum, diamond and exclusive - which depend on the amount paid.

In our 2018 Forex Review, authorities carried out 129 telephone customer service tests within three months. The collected data has an institutional level. On an aggregate, you will face three problems for each test. To pass each test, the tests fall into three separate groups. The results mainly depend on the time that one needs to connect with each support representative. The ability of each representative to provide a professional (and thorough) answer to each question. The network organizer indicator for the general experience is also provided.

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