Forex Club

Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?

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    Checking for fraud of a Forex Club broker - reviews of people, where and how they cheat, review of cases of deposit drainage

    Forex dealer Forex Club was founded in 1997 in the Russian Federation. It was one of the three largest Russian dealing centers until it was left without a license. It was banned in the country. Since then, the catcher has registered in offshore zones, from where he continues to scam money.

    Forex Club has more than 2 million patients. Every year the vast majority of them are new people. There are very few old ones left. The majority lose all their money because of the rotten manipulations that the trickster actively engages in.

    When this review was prepared, Forex Club was registered in Saint Vincent and the Grenadines. This alone suggests that this is an honest broker only on paper. The local regulator does not monitor how Forex intermediaries operate. You can’t even count on withdrawing transactions to the interbank market.

    Status

    SCAM

    Year of foundation

    1997

    Affiliate program

    Yes

    Regulation and jurisdiction

    Saint Vincent and the Grenadines, FSA

    Peculiarities

    The official Forex Club website provides a pool of instruments. There is a full range of classics that the “kitchens” are selling – from currency pairs to cryptocurrencies.

    Specifications are provided in full. They also make it clear: there will be no transfer of transactions to the interbank market. The shoulder is too wide – up to 1:999. The minimum stop out is 10%.

    It doesn’t even smell like favorable trading conditions. Spreads are high. In addition, there are fees that make trading even less profitable. Real reviews of Forex Club warn: slippage can occur at any time. The result will be the closing of positions in the negative.

    Among the ways to deposit and withdraw are electronic wallets, bank transfers, and cards. The scammer even promises to compensate the commission for replenishment. Just not with real money – bonuses that need to be worked off. Spoiler: you won’t be able to do this.

    Website

    fxclub.org

    Contacts

    Country: SVG

    City: Kingstown

    Address: The Financial Services Center, P.O. Box 1823, Stoney Ground

    Phone: +44 745 641 78 28

    Pros
    • Ru-version of the site
    • Low entry threshold
    • Easy registration
    Cons
    • Unliquid license
    • Price manipulation, profit cancellation
    • Withdrawing money requires a lot of effort, it is almost impossible to take profit
    Trading Platform

    Libertex, MT4, MT5

    Types of accounts

    Silver, Gold, Platinum, Diamond, Exclusive

    Currency

    USD

    Deposit/withdrawal

    Visa, Mastercard, Wire Transfer, Skrill, Neteller, Jeton, WebMoney, Vload Vaucher

    Min Deposit

    $0

    Leverage

    1:999

    Min order

    0,01 pips

    Spread

    2 pips

    Financial Instruments

    Forex, cryptocurrency pairs, metals, stocks, indices, bonds, ETFs, agricultural commodities, energy

    Peculiarities

    The old “kitchen” has been scamming Russians out of money for more than 25 years

    Competitions and bonuses

    Yes

    Forex Club Review

    Forex dealer Forex Club (“Forex Club”) was founded in 1997 in the Russian Federation. It was one of the three largest Russian dealing centers until it was left without a license. It was banned in the country. Since then, the catcher has registered in offshore zones, from where he continues to scam money.

    Forex Club has more than 2 million patients. Every year the vast majority of them are new people. There are very few old ones left. The majority lose all their money because of the rotten manipulations that the trickster actively engages in.

    When this review was prepared, Forex Club was registered in Saint Vincent and the Grenadines. This alone suggests that this is an honest broker only on paper. The local regulator does not monitor how Forex intermediaries operate. You can’t even count on withdrawing transactions to the interbank market.

    The official Forex Club website provides a pool of instruments. There is a full range of classics that the “kitchens” are selling – from currency pairs to cryptocurrencies.

    Specifications are provided in full. They also make it clear: there will be no transfer of transactions to the interbank market. The shoulder is too wide – up to 1:999. The minimum stop out is 10%.

    It doesn’t even smell like favorable trading conditions. Spreads are high. In addition, there are fees that make trading even less profitable. Real reviews of Forex Club warn: slippage can occur at any time. The result will be the closing of positions in the negative.

    Among the ways to deposit and withdraw are electronic wallets, bank transfers, and cards. The scammer even promises to compensate the commission for replenishment. Just not with real money – bonuses that need to be worked off. Spoiler: you won’t be able to do this.

    Terms of cooperation. How to make money with Forex Club?

    To earn money, Forex Club offers to make investments:

    • in shares;
    • fiat, cryptocurrency;
    • metals;
    • oil and gas;
    • ETF;
    • indexes;
    • agricultural products;
    • bonds.

    In fact, these are all CFDs, not exchange-traded instruments. The scammer just forgets to talk about it. Then he goes further – he encourages people to invest in shares and receive dividends from them. How this is implemented is unclear. Rating Forex cautions: Forex Club does not have a license to operate on the stock exchange.

    According to Forex Club, there is another source of profit. We are talking about Bitcoin mining. Sharashka promises to give you the opportunity to receive free crypto every day.

    Rating Forex warns: in fact, all trading tools are fiction. They are generated on the Forex Club servers. In addition, trades are not routed to liquidity providers. This is clear from the presence of cryptocurrency pairs among financial assets.

    The Forex Club scammer offers 5 accounts for trading:

    • Silver.
    • Gold.
    • Platinum.
    • Diamond.
    • Exclusive.

    They differ in requirements for depot and turnover. The minimum wage is $0. It will give you Silver status. If the trading volume is more than $1 million, and the deposit is over $500, the trader is eligible for the Gold level service.

    For Platinum, you need to hold out from $5,000. A turnover of $10 million is required. The starting depot for Diamond is from $50,000. Trading volume is more than $10,000,000. For Exclusive, you need to have more than $0.5 million in the depot. Turnover is not important.

    Service levels differ in the number of available additional services, ready-made options and the opportunity to receive exclusive trading conditions. Specifications:

    • Leverage – up to 1:999. It’s very broad.
    • Spreads – from 2 points. It’s the same story as with leverage.
    • Commissions – $7 per lot.
    • Stop out – 10%. Very low.
    • Margin call is not specified.
    • The minimum transaction volume is 0.01 lot.

    For each asset, Forex Club provides swaps. Mostly they have a minus sign. This makes long-term positions less profitable.

    Registration and regulation

    Let us remind you: when this review was being prepared, Forex Club was registered in Saint Vincent and the Grenadines. The license was issued by the local regulator. It is important to understand: this piece of paper means nothing.

    Rating Forex warns: the St. Vincent and the Grenadines regulator does not regulate Forex dealers. That is, the Forex Club sharashka operates without state supervision. This is the main sign of a “kitchen”, a scam.

    The Forex Club scammer is still quite actively cleaning the pockets of Russians. This succeeds even though the Russian regulator has blacklisted him.

    How “Forex Club” scams money

    Forex Club is a typical “cuisine”. She has very simple schemes. Most of the patients are sent into a dive even without the intervention of the sharashka. Reasons to the throat:

    • shoulder too wide;
    • spreads are large;
    • part of the deposit is consumed by commissions.

    There are those who manage to gain profit. The Forex Club scammer fights fiercely with these:

    • cuts profit,
    • cancels profit.

    The scammer can also freeze the account under the pretext of fictitious violations. He is not shy about inserting price spikes that trigger the stop loss.

    Let us remind you: the Forex Club scammers have bonuses in their arsenal. He distributes them very generously, to everyone.

    Rating Forex warns: bonuses need to be worked off. Until you make a certain trade turnover, the lovchila depot will not return it. This increases the risk of merging. The more trades a trader enters into, the higher the probability of a loss.

    Expert opinion

    Eugene Rudenko

    Since 2020, the official Forex Club website has been blocked in the Russian Federation. All other online representations of this sharashka company too. This happened even despite the fact that she was able to agree with Alfa-Forex on mediation for the provision of services in the Russian Federation.

    Forex Club is a truly large intermediary. But that doesn’t make it reliable. He merged, canceled positions at the dawn of his existence and continues to do so.

    The Forex Club “personal account” is suitable only for those who are willing to put up with profit limits, wild commissions, non-market quotes, and inflated spreads. Lovchila will not lick the cabbage every time the depot is replenished, like a petty scammer. But it will still be very difficult to gain profit.

    It’s not for nothing that Forex Club was expelled from the Russian Federation. Lovchila lined his pockets at the expense of newcomers who knew little about trading. Many poor people were left without cabbage.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Reviews about Forex Club. What kind of broker is this?

    Over the 26 years of operation, there have been a lot of reviews about Forex Club. Many of them are very positive and incredibly suspicious: they look like a scam, and a very cheap one at that. There is nothing surprising. “Kitchens” go to great lengths to get a constant flow of new patients who will have their pockets cleaned.

    There are fewer real reviews about Forex Club. Not all of them have a minus sign. There are lucky people who thank fate for being able to withdraw their money. But there are plenty of complaints. Each one makes it clear: the place of Sharashka’s office is on the black list.

    On forex4free.net one of the real traders says: once “Forex Club” was quite good. He became proud and fell behind his competitors. He has a lot of problems with his trading platform. There is a risk of catching:

    • glitch;
    • stop out.

    Then everything freezes. The deal will open on its own.

    Zero stability. Technical support couldn’t be worse either. Instead of helping, they play football from one specialist to another. This can last for hours. The broker turned into a “kitchen”. His place is on the blacklist.

    Rating Forex comment: Forex Club has always been a “kitchen”. He did not take the positions to the real market. Even with a license from the Central Bank of the Russian Federation, he managed to commit so many violations that he was kicked out of the country. Even managers were left without certification.

    One former client says: problems began as soon as they opened a “Personal Account” at the Forex Club. The site freezes frequently. I couldn’t even register the first time.

    The author of the review gave the minimum deposit and received a bonus. I was glad that there were many trading tools. There were also no fees for replenishment. It turned out to be simply impossible to withdraw money from Forex Club.

    For just 2 positions, the reviewer lost half of his deposit. The terminal kept freezing. The poor fellow began to try to withdraw the remaining money. Nothing succeeded.

    The Forex Club scammer began demanding withdrawals using the same method used for depositing. The support ignored it. Every attempt to withdraw money ended in error. The beans were hanging.

    An interesting review was given by the website fx-rating.com. It dates back to the times when Forex Club operated under a license from the Central Bank of the Russian Federation. That is, in theory, it was strictly regulated.

    The author struck a pose with Bitcoin. He was immediately charged 2.5%. With a leverage of 1:10, this means $250 out of $1000. In addition, winnings on cryptocurrencies are limited to 30%. That is, it is simply impossible to get more than 30% profit.

    As a result, the position was closed with a profit of $300. Although against the backdrop of the jump, it was possible to get all $700. The author of the review never received any help from the broker. Moreover, it had “Platinum” status. Later the person tried to withdraw money, but nothing worked for 3 days.

    Rating Forex read the comments under this review. A lot of Forex Club defenders came running there. These people urged people to stay away from crypto as it is very volatile. They ignored the issue of inadequate commissions and profit restrictions.

    There are complaints about brokertribunal.com. The author of one of the reviews warns: Forex Club’s stops don’t work. He tried on 5 different instruments. Each time the positions were closed at a price that was much worse than the one set in the stop.

    The person decided to clarify the issue with technical support. She ignored it. He threatens to write bad reviews all over the Internet if he does not receive compensation for his losses.

    Rating Forex warns: the Forex Club scammer does not compensate for anything. He will start telling tales about slippages and software malfunctions. According to his contracts, this relieves him of any responsibility for clients’ losses. That is, everyone who opens a “Personal Account” immediately agrees: stops may not work, and prices may differ from market ones in such a way as to merge transactions.

    There is a person who complains: scammers from Forex Club call 10 times every day. They spend 40 minutes talking about how profitable it is to cooperate with them.

    The scammers pester you with calls even when the Forex Club office is not open. Sharashka likes to cheat on deposits by drawing football tickets. To win, you need to throw $500 into the depot as often as possible.

    If you refuse to top up, the Forex Club scammer begins to ignore you. Then he tells tales about illnesses and personal problems. As a result, the deposit is lost.

    Forex Club (“Forex Club”) will quickly return all the money it took. Complain to Rating Forex and see for yourself. Consult lawyers for free.

    Conclusions

    Forex Club is a large, well-known “kitchen”. Registration in an offshore means that you need to stay as far away from it as possible. Trading conditions only reinforce this fact.

    Rating Forex does not recommend opening a “Personal Account” with the Forex Club. The purpose of existence of scammers is to clean traders’ pockets.

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    FAQ

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    Does the opinion of a broker's clients affect its reputation?

    The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about Forex Club are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.

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    How to write a review about cooperation with Forex Club on the website?

    To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.

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