‘NO SPREAD’ Forex Broker?
December 5, 2008
An ECN Broker With No Spreads? I know, it sounds too good to be true. But I recently came across a banner on a website touting that FX CLUB has no spreads on their currency pairs. So, I decided to investigate and see if this was truly the case and if there was a catch (like IForex.com’s Protected Account isn’t really protected). FXClub also claims to charge commission, however, gives instant refunds on non profitable trades, i.e., if you don’t make money, they don’t make money. A noble thought indeed, but how far do they go? Actually alot further, including NO SWAPS, and just .4 per $1000 traded in commission (they need to eat too). At any rate, I’ll be trying out the free demo starting Sunday night and get back to you all on how it goes 
Here’s some more info on FX CLUB. The array of accounts they offer seem to be quite introductory, DEMO, SILVER minimum $10 deposit, GOLD minimum $100 deposit plus $100 bonus, and platinum starting at $500 deposit. Deposits are accepted by Credit Card, Bank Transfer, Paypal, and check. I personally like the fact that this Forex Broker Accepts Paypal because it is the simplest way to transfer money, especially since I get paid with it quite often.
Some other amazing features of FxClub include:
Zero-spreads
No Swaps
No Re-quotes
Pay just $4 for every $10,000 round lot
Get instant commission refunds on non-profitable trades!!! If you don’t make money, they don’t make money.
It remains to be seen if FX Club is a true ECN broker, because there is always a spread, and brokers are always incumbant upon paying commission for each trade you make. I’d love to hear everyone’s thoughts or experiences with FX Club so we can get to the bottom of whether or not they offer ZERO SPREADS and are truly an ECN Forex Broker.
DOWNLOAD THE FX CLUB PLATFORM
——————————– ADDENDUM March 12, 2009
So I’ve been able to test this broker out quite thoroughly in the past few months and I must say I am pretty impressed. The platform takes some getting used to, but luckily you can demo trade with Fx Club until you are completely content and comfortable with the system. My only complaint at first was the fact it took a long time to enter a trade on my main machine, but then I switched to a different computer and the executions were instant. Very strange, but I chalked that up to a personal hardware issue, not an issue with Fx Club. I’ve seen a few people express concerns about the $40/10,000 commission fee. After a few trades and seeing this number being deducted from my trades was a little alarming, but when you factor in you are paying nothing for spreads, and that $40 is returned to you on losing trades, I think this evens itself out in our favor believe it or not. Moreover, since swaps are non existent, you can hold positions overnight and not have to pay (or be paid) swap fees. I believe a commenter alluded to the fact maybe this is how they make some of their money back, but that works both ways in forex, so it’s hard to tell unless you are behind the scenes at Forex Club.
In conclusion, I will be giving Forex Club a shot with a few hundred extra dollars I have left over from my last Forex broker. I’d love to hear what others think about their experiences with Forex Club, and if you haven’t tried them out yet.
This Forex Broker is Definately worth checking out. Thanks for sharing.
Forex Reviews
Are you kidding me? A forex broker with zero spreads? How is that even possible?
Bill
wow really? GREAt FIND
Joan
yea, FXCLUB is pretty good ECN broker, they make good on their promises about no spreads and the instant commission refunds, their platform is the only minus, but hey, they eliminate most of those things beginner traders get hung up on, so, I’d at least try them out
playahata
Are you sure they are an ECN Broker? The more I research the more people sound skeptical about this. I’m just going to try it out, put $100 in and see how far I get.
MoForex
So far so good, not sure if they are an ECN still, but execution is excellent, spreads really at or near zero. Please let me know if anyone has had problems with them before I deposit more funds.
MoForex
yes, they are an ECN, excecution not so fast, but they are very good on spreads. I wouldn’t fear putting more money in
pipsta5-9
Never heard of this “FX CLUB” I will try too, no spreads sounds nice.
mommaBear
I do in fact believe FX CLUB is an ECN, because the term ECN is broadly definable. ECN or not, you just can’t beat that FXClub has NO SPREADS and NO COMMISSION on losnig trades. I look back to what lost me money as a beginner trading at FXCM. The spreads were too high to handle half the time. I started out trades real behind the ball at FXCM. At FXClub, that worry is totally eliminated, just as long as you get in the right way of the trade, you’re paying less than $5 on a full lot traded as opposed to $30-40 at regular forex brokers with spreads.
It’s up to you though, I always looked forward to a forex broker that had NO SPREADS truly, FXClub is it!!!
Anonymous
for 100k traded the pip is 10$.they charge 40$ for this transaction which means 4 pips.Each way.I don’t think they worth
vince
Forex brokers use three forms of commission. Some brokers offer a fixed spread, some brokers offer a variable spread and still others charge a commission based on a percentage of the spread.
The spread is the difference between the price the broker is prepared to pay you for buying the currency (the bid price), versus the price at which he is prepared to sell you the currency (the ask price).
A broker that offers a variable spread, the spread will fluxuate depending on the pair being traded and the level of market volatility.
Some brokers may also charge a very small commission, perhaps 0.8-0.2 pips, and then will pass the order flow received from you on to a large market maker with whom he or she has a relationship. In this case, you can enjoy a very tight spread that only larger traders enjoy.
Jeb
Lovin fx CLUB, really amazing, no spreads, so much easier making pips now. CHEERS!
Police
Can you use MetaTrader4 with FXClub or any other automated trading software?
Marcia
Very interesting. I just downloaded and will try them out. I never know about this company, thanks for sharing, trully!!!!
carlosTHEEjackal
Trying to use this platform, is it slow for anyone else in executing orders? Or is it just my machine?
Anonymous
Does it matter if they are an ECN broker or not? THEY HAVE NO SPREADS! NO COMMISSION ON FAILED TRADES! LOW COMMISSION ON WINNING TRADES. You can’t ask for more!
Maybe you could ask for your money back on failed trades, that could be something “more” FX Club could offer you, lol, but that is ludicrous. IForex offered something like that, a “protected account” but they take your initial deposit and use it as insurance in case you lose money, and if you do, you’re out your initial deposit anyway. Nice racket that people shouldn’t fall for if they do a little work
FX Club on the other hand is definitely worth the shot, been trading for a few years and have not seen a deal like this in all that time. Time will tell if its completely profitable, but in theory it should be, so long as you get in good trades and get out of trades that are going against you. Don’t go blaming your broker for losing 100 pips in a trade, just liquidate and start over.
ECN or NO ECN, FX Club is awesome!!!
Gibbs
ECN broker or not, I think its important to factor into that equation of paying $40 anyway per trade, that’s only if you make a winning trade. With a normal broker with a 3+ pip spread, you’re paying an extra $30+ per trade win or lose. I’m not naive really, and to me usually if it sounds to good to be true, it is, but I’m going to give this a try.
Thanks!
Aloeric
Thanks for the info,i’m going to try the demo account first.
ahmad kamal
May be a great tool…..i going to try it out now…huhu
joe
Forex Club is a huge bucket shop, do not deposit money there!!!
aarrik
Does it really work? I am interested to know more about it…
Easy_Forex
I give this broker a good rating. Nothing like MB Trading which is the best in my opinion, but zero spreads is really enticing, and useful for those of us who enter many trades that are losses but try to keep these losses small.
SPREADS: EXCELLENT
COMMISSION: MEDIUM
EXECUTION: OK
PLATFORM: SIMPLE
SUPPORT: VERY HELPFUL
Nikolai
Wow, how come I never heard about this? Definitely trying it out. Thanks!
Simon
hye.
well actually i need to learn more about this things
are they any free software + free demo?
Aqif
Hey, I signed up the other night, made a few trades on the demo, made over $1000 with their interface!!! I was astonished because what sounds to good to be true usually is. I thought it was babyish at first, but its pretty quick. I figured that they charged slightly less commission than other brokers, but with no spreads, so I think that so far its worth it.
Need to try it some more.
Thanks.
Kath522
great info, this broker definitely sounds like the right mix to make more pips
dangerfield
interesting for me to try it. It become save and make more pips. Thanks.
fxster
Well, it’s really sound normal. Most of the broker do that.
mavia
Thanx for sharing this great info. I just don’t know however, if this is the best broker. Let’s keep trying it out, because, it would
forexgeek
hi…
very great and nice info this blog,i’m newbie, i like trading forex but i still learn to get the best trading,i survey about forex here ,i hope u all can help give your opinion before i buy it tq
top forex reviews
None of you mention the fact there’s no swaps either, this leaves you free to hold positions overnight without being deducted interest by buying a lower interest currency. This also prevents you from earning interest on selling a lower yielding currency vs a higher yielding currency; maybe that’s how they make their money back, keeping YOUR interest.
DennisF
This has to be the lowest spread for any forex broker I’ve seen in my whole life. It’s a good point you get charged $40 per trade anyway due to commissions. But that would only be a bad thing if you always got in profitable trades. If you don’t get in profitable trades with other brokers, you’re paying $20-80 to pay off the spread + any commissions on a losing trade. With Forex Club, this figure is ZERO on losing trades, only $40, flat rate, on winning trades, NO SPREAD. I don’t see how you can complain… Plus no swap charges that sometimes affect your bottom line negatively.
I actually thank you for showing this broker to me…
DAVEMATTHEWS
How stupid do you think we are “Dave Matthews”? Hoping to get a good rep by stacking up a bunch of comments from fake accounts? Why do you post the number of brokerages that Michael Felice (current owner of Forex Club) has been forced to shut down in the past 15 years? Check you the NFA site if you don’t believe me.
Donny
Great Great Broker!!! I make so many extra pips thanks to no Spreads! And no swaps too! Splendid rules they got here.
Derek D.
Thanks for sharing, I will try out this Forex Club now!!!
Stocks
no spreads but they plug your buttt with very high commission not good
Oscar
I can’t belive that you made all of the job to share this! Awesome. With out Bloggers like you, we would never get so great information’s!
Best Article Spinner
How can this broker legitmately charge you no spreads in between the bid/ask price?
best forex robot 2009
This is FX Club broker I’m assuming? do they still offer no spreads?
Matty
The legal stuff about the NFA is the hard bit I suppose
Ethan
Would you consider yourself a technical trader or a fundemental trader ?
Hunter
Hello I am new here.
I am sorry if this is the wrong place for this.
I’m Jonathan Curtis from Los Angeles.
I am 35. I’m working in Health
.
I want to learn EA you uses. Anybody use Collective2 ? Zulutrade ? other auto trading plateform ?
Thanks for your help !
Slonvarralo
Forex club is great, been using them for about a year i would not classify them as a scam, and commissions are only on winning trades, your all expecting to get into 99% winning trades, that never happens, even the best traders out there are 50/50 sometimes, so comission is always refunded back on non-profitable trades.
I don’t know what else to say, no spreads, and no commission half the time (or more) and only when you’re profitable.
I think Forex Club is worth it in that regard, plus they are NFA regulated now.
Louie
i use them all the times great broker, fx club awesome dudes!
Maria
Share FX Investment
Albina Ferratt
Can anyone tell me the point of a no spread or a very low spread broker if slippage is so high that a trade wont be taken!
Candle Forex