Forex Club Review: The Ghost In Their Closet

History of the Forex Club

Forex Club International Ltd. was founded in 1997 as a financial investment firm and has been based out of Russian. The broker was part of the industry’s self-regulated International Finance Commission who only admits the reputable firms who have the long track record of continued excellence.  They had this honor until December of 2018 at which time the Russian Central bank reviewed several companies and stripped them of their operational licenses.  Forex club was among them leaving their company a brand without regulation.  They are now running in St. Vincent and the Grenadines. 

Russian authorities have pointed to numerous violations of the Russian securities laws by the firm as reasons for the taking of their license.  Forex club was also expelled from the Association of Forex Dealers which is a self-regulated body in the industry.

An investor’s only way for protection is received through site protection.  Forex club’s website as well as their platforms are protected with a 128 bit secured socket layer (SSL) protocol.  This is the standard level of encryption for data that is transmitted over the internet.  This gives their clients some security in that they are using sensitive information when activating their accounts and while trading.

Today Forex Club runs nearly one hundred offices throughout various countries globally having over two hundred instruments available for trading on multiple platforms. They offer over 50 currency pairs, commodities, metals, indices, over 40 cryptocurrency, stocks and futures.  They have over ten world-leading banks – market makers who provide liquidity, some of which include; Citibank, Commerzbank, Barclays, Credit Swiss, HSBC Bank, GS, Morgan Stanley, JP Morgan and more. Their services are available to residents of China, Kazakhstan, Ukraine, Hong Kong, Indonesia, Taiwan, Malaysia, Uzbekistan, Belarus, as well as various others among the CIS countries.


Deposits and Withdrawals: 

There are numerous ways for you to manage your account.  There are also a variety of different charges for each option that you may choose.

For deposits and withdrawals as a whole, there is a commission charge of 2.5%.  The various methods that you can make these transactions include (but are not limited to); credit cards, Qiwi, webmoney, wire transfer,, Skrill, Neteller.  Skrill carries a deposit commission of 1.9% with withdrawal commission charge at 1% and transaction limits being minimum of $10 and maximum of $1,500.  Neteller charges a commission of 4% of the transaction amount with the minimum of the transaction allowed at $10 and the maximum at $5,000.  Webmoney 0.8% commission and their minimum deposit amount is $10 with a maximum of $1,000.  Qiwi wallet follows a 5% commission of the amount that is being deposited and there is no withdrawal commission.

All deposits are processed pretty instantly except for wire transfers which can take upwards of three business days to process.  Withdrawals are generally a longer process in generating, but the broker does them in as quick fashion as possible.

 Account Types

There are several different account types that Forex Club makes available to their traders which will depend on their capital and which platform they want to use.  The Direct Bank Access or DBA is the way in which Forex Club connects themselves directly to the forex market. 

Libertex Account

This is the company’s proprietary account.  You can only sign up for this account if you plan to use the Libertex trading platform.  It is a web-based account or you can download as a desktop or laptop for MS windows.  It can’t be used with MAC.  The minimum amount for a transaction with this account is $100 for all of the tools.  The maximum for the leverage is 1:600.  There are no charges for spreads but the commissions begin at 0.03%.  You can also use this account for mobile.

MetaTrader 5 Instant Account

The execution of this particular account is automatic. Using this platform, the prices will go on once the client has placed their order and then it’s executed once the broker accepts the price.  The spreads start at 0.6 with no commissions charged unless there is a swap.  The max leverage here is 1:500.

MetaTrader 5 Market Account

On this account, the broker has the decision as far as the price and the order will be executed at the market prices.   Clients have the benefit of being able to make their deals by way of the phone if they so choose and hedging is okay. The spreads here start at 0.5 and that is for a 0.01 lot.  There is no set limit to the amount that you deposit.  

MetaTrader 4 Instant Account

  As with MetaTrader 5 instant account, the orders here are executed instantly. They do allow auto trading and hedging with this account.  There are no commissions with this account and the spreads begin at 0.6 with a stop out level at 20%.

MetaTrader 4 Market Account

  The orders here are executed at whatever the market prices are.  0.5% is where the spreads begin with commissions starting at 0.04 with a lot of 0.01 and stop out level is at 50%.

Rumus Account

This account utilizes the Rumus platform where the max leverage will be 1:200 with a stop out level that will be 20% and spread charges do apply.  There will be no limits for deposits for this account type.


Forex Club does offer bonuses for their clients.  This is an added benefit to attract new traders to join their brokerage.  It’s especially important that they have something like this given the fact that they are unregulated.  Folks might be willing to work with it if the perks are meaningful which these are.

100% welcome bonus is given to a new client with their first deposit if it is over $100, capped at $10,000.

Interest is given on deposits, 9-12% per year, of $5,000 to $50,000 which will be paid monthly.  The money that you deposit needs to be USD.

This one is really nice.  You get account status depending on what your account balance is.  So, the higher the deposit that you make is, the more additional services that you will have access to, e.g. premium support services, training, analytics, market news.


Libertex.  With this platform there are a ton of tools including a favorite’s list that can be customized, advanced order management with speedy execution, nine timelines, 43 indicators along with charts for tech analysis, .

MetaTrader 4 and 5.  MetaTrader 5 is more advanced than 4 but the platforms themselves are basically the same.  There is automated trading where you can use expert advisors (EAs) which is a very attractive feature for most traders because they can just relax and watch the work being done.  The clients can also access signals or mimic trades of those who have had successes before them.

Rumus. This platform is able to combine several time intervals into one chart, offers a powerful system full of linked pending orders, has 35 indicators but has an option of expanding by importing more indicators within the app, ability to bid tick charts, a customizable toolbar with detachable component windows.

MetaTrader 4/MetaTrader 5 Mobile Apps.  Multiple account management tools with deposits/withdrawals, chart analysis, pending orders, chart analysis, stop loss, indicators/oscillators.


Forex Club offers trading systems to those clients who subscribe to their free newsletter.  They also have access to analysts who provide analytics which comes up on their website every day.  This will help you with any decisions you’re trying to make regarding trades or maybe recommendations.  There is and Trading Central as well which provide daily feedback for traders.  You will also have an economic calendar at your disposal.


Forex Club offers its clients an online academy which provides tools that will enhance the trading skills of the novice on up to the middle-of-the-road trader.  There are videos as well as articles where you can work full time or part time.  The website provides a place where users can sign on to a course that will train the client in how to trade. There are also demo accounts available where a client can register, log on to a particular account, and they are given ‘$5,000’ to virtually trade with. This is a great educational tool, not just to learn about the different platforms, but also to learn about Forex Club in general.


The pricing for Forex Club varies greatly depending on which account type you take and there are numerous. Some accounts hold commissions and some that don’t.  The Forex Club accounts each offer competitive spreads.



  • A multitude of accounts to choose from and platforms with a variety of tools.
  • Over 50 currency pairs.
  • Nice bonuses.
  • Great educational tools.


  • Forex Club is only in Russian.  It’s not available in English.
  • They are not regulated. 


There is so much offered by this broker that trading with them would be an enjoyable experience.  The fact that they are unregulated detracts from that, however.  When you don’t have safety, security and trust with your money, a pleasant experience can turn sour.

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