Forex Club: Is It a Scam or Should Traders Use It?

Forex Club is one of the most popular Forex trading platforms. Its large database of users is a good indication of how reliable and trustworthy the company is. With nearly two decades of experience, and over 600 experts at their clients’ disposal, this platform is definitely a good choice both for advanced traders and as novices.

What Is Forex Club?

The company was founded in 1997 in Russia. Since then, they have expanded their reach. They currently have offices in over 100 countries from all over the world, including Europe, Asia, and the Americas. Hundreds of financial experts are ready to provide their services to the over 1.5 million users that have chosen this platform.

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Forex Club clients can also take advantage of the cutting edge trading terminal app, which acts not only as a mobile trading platform but also provides them with the latest news and updates regarding the Forex Market. In this way, the Forex Club app acts as a kind of live signal provider for its clients.

Forex Club Account Types

Opening a trading account with Forex Club is extremely easy. This type of account offers access to all of the tools and instruments the company has to offer. After setting up a basic account, you will also have to download the Forex Club trading terminal. Using this tool, you can perform transactions with the instruments of your choice.

The company provides Islamic accounts as well. They have a separate set up procedure. Only clients from Islamic countries may activate such an account.

Forex Club Demo Account

The company features a demo account option for beginners or traders who want to test out the capabilities of this platform. By signing up for a demo account, users will also have access to the trading terminal mentioned earlier.  New clients should sign up for a demo account to familiarize themselves with it before moving on to real trades.

Forex Club Bonus

There a number of ways you can obtain a bonus using Forex Club. The easiest way is through a friend referral. After opening a standard account, clients can ask friends to open accounts as well. For every friend who opens an account, the user will receive $300.

Customers opening a new account can also benefit from receiving a guaranteed interest rate of 9%-12%. In order to be eligible for this bonus, they must deposit an initial sum of $5,000.

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Forex Club Minimum Deposit and Minimum Trade

There is no minimum initial deposit to open a standard account on Forex Club. However, in order to be able to trade, new clients must deposit at least $250. The maximum they can transfer is $100,000. The company only accepts USD deposits. If customers use a different currency for their personal bank accounts, the conversion will be performed automatically, but some fees and taxes may apply.

Forex Club Withdrawalforex club withdrawal method

Withdrawing money is an extremely easy and quick process. Once a user has activated a standard account, they will have access to their MyFxBank account. From there, they can select to withdraw funds immediately.

Wire transfers may take a little longer to process. Receiving banks might also charge a fee for this transaction, so clients are advised to check with their bank first.

Forex Club does not allow third party withdrawals.

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Forex Club Binary Options Types

Experienced traders might find the lack of binary options types somewhat disheartening. However, this platform is very well-suited for beginners who are still working on their strategy. Since it provides just one basic type of binary option, beginners have plenty of time to experiment with the market before moving on to more complicated models. The platform does allow other types of trade, for those who want a bit of a challenge.

Forex Club Appforex club trading terminal

All Forex Club transactions are handled through their own trading terminal. The terminal can be installed on any device, including mobile. It acts as a hub from which clients can perform transactions, review their account details, and manage their funds. The app is called Libertex.

Forex Club Complaints

The company offers its clients non-stop access to customer service and technical support. You can contact their customer care and complaints department by sending them an email, or connecting with a customer care specialist using the live chat option available on their website. You can also call their customer service center using the phone number provided on their website. Clients can use this number from anywhere in the world. They can provide you with useful binary options tips, if you are still unsure about what you have to do.

Is Forex Club Legit or Scam?

Forex Club is one of the oldest and well-respected Forex trading platforms in the world. The over 1.6 million users should be enough the assure anyone who’s considering trading through their company’s platform. All of the necessary legal documents and disclaimers are freely available for review on their website. They have a CySEC license, which allows them to operate in countries on several continents.

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Forex Club Pros and Cons

Forex Club Advantages

  • Very easy to use and understand
  • Their trading terminal provides a high level of flexibility and mobility
  • Great for testing out new binary options trading strategies
  • Provides a wide selection of educational materials

Forex Club Disadvantages

  • Somewhat limited when it comes to options trading variety
  • Not a lot of bonus opportunities

Successfully Trading with Forex Club

Using Forex Club is incredibly easy. Their trading terminal provides clients with all the tools they could need in one easy to access place. The terminal works on mobile devices as well as desktops. They have a vast experience when it comes to offering their clients access to the best possible trading tools. It’s the ideal choice for beginners who might feel a bit uneasy diving into the Forex trading market.

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