Top

‘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.

new_f2DOWNLOAD 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.

VN:F [1.9.7_1111]
Rating: 8.6/10 (68 votes cast)
VN:F [1.9.7_1111]
Rating: +5 (from 5 votes)
'NO SPREAD' Forex Broker?, 8.6 out of 10 based on 68 ratings

Comments

49 Responses to “‘NO SPREAD’ Forex Broker?”

  1. Forex Reviews on December 7th, 2008 5:04 pm

    This Forex Broker is Definately worth checking out. Thanks for sharing.

      

  2. Bill on December 10th, 2008 7:31 pm

    Are you kidding me? A forex broker with zero spreads? How is that even possible?

      

  3. Joan on December 10th, 2008 7:33 pm

    wow really? GREAt FIND

      

  4. » NO SPREAD FOREX BROKER » Easy Forex Investments on December 12th, 2008 6:03 am
  5. playahata on January 6th, 2009 4:15 am

    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 :-)

      

  6. MoForex on January 14th, 2009 4:14 am

    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.

      

  7. MoForex on January 15th, 2009 5:47 pm

    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.

      

  8. pipsta5-9 on January 16th, 2009 4:21 am

    yes, they are an ECN, excecution not so fast, but they are very good on spreads. I wouldn’t fear putting more money in

      

  9. mommaBear on January 25th, 2009 6:23 pm

    Never heard of this “FX CLUB” I will try too, no spreads sounds nice.

      

  10. Anonymous on January 28th, 2009 10:11 pm

    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!!!

      

  11. vince on January 29th, 2009 5:58 pm

    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

      

  12. Jeb on January 29th, 2009 7:00 pm

    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.

      

  13. Police on January 31st, 2009 11:49 am

    Lovin fx CLUB, really amazing, no spreads, so much easier making pips now. CHEERS!

      

  14. Marcia on February 3rd, 2009 8:33 pm

    Can you use MetaTrader4 with FXClub or any other automated trading software?

      

  15. carlosTHEEjackal on February 5th, 2009 9:43 pm

    Very interesting. I just downloaded and will try them out. I never know about this company, thanks for sharing, trully!!!!

      

  16. Anonymous on February 6th, 2009 9:51 pm

    Trying to use this platform, is it slow for anyone else in executing orders? Or is it just my machine?

      

  17. Gibbs on February 13th, 2009 1:53 pm

    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!!!

      

  18. Aloeric on February 14th, 2009 5:09 pm

    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!

      

  19. ahmad kamal on February 16th, 2009 8:30 am

    Thanks for the info,i’m going to try the demo account first.

      

  20. joe on February 18th, 2009 6:08 am

    May be a great tool…..i going to try it out now…huhu

      

  21. aarrik on February 18th, 2009 12:27 pm

    Forex Club is a huge bucket shop, do not deposit money there!!!

      

  22. Easy_Forex on February 18th, 2009 6:54 pm

    Does it really work? I am interested to know more about it…

      

  23. Nikolai on February 19th, 2009 11:24 pm

    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

      

  24. Simon on February 24th, 2009 2:11 pm

    Wow, how come I never heard about this? Definitely trying it out. Thanks!

      

  25. Aqif on February 25th, 2009 7:39 am

    hye. :)
    well actually i need to learn more about this things
    are they any free software + free demo?

      

  26. Kath522 on February 26th, 2009 3:29 pm

    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.

      

  27. dangerfield on March 1st, 2009 1:58 am

    great info, this broker definitely sounds like the right mix to make more pips

      

  28. fxster on March 5th, 2009 1:37 am

    interesting for me to try it. It become save and make more pips. Thanks.

      

  29. mavia on March 5th, 2009 11:14 pm

    Well, it’s really sound normal. Most of the broker do that.

      

  30. forexgeek on March 6th, 2009 2:05 am

    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

      

  31. top forex reviews on March 7th, 2009 11:11 am

    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

      

  32. DennisF on March 8th, 2009 3:46 pm

    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.

      

  33. Comparing Forex Brokers | Forex Bus on March 12th, 2009 2:50 am
  34. DAVEMATTHEWS on March 12th, 2009 3:35 am

    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…

      

  35. Donny on March 29th, 2009 5:32 pm

    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.

      

  36. Derek D. on April 8th, 2009 6:51 pm

    Great Great Broker!!! I make so many extra pips thanks to no Spreads! And no swaps too! Splendid rules they got here.

      

  37. disprespectful! on May 2nd, 2009 3:49 am
  38. Stocks on May 18th, 2009 7:17 pm

    Thanks for sharing, I will try out this Forex Club now!!!

      

  39. Oscar on December 4th, 2009 1:51 am

    no spreads but they plug your buttt with very high commission not good

      

  40. Best Article Spinner on July 7th, 2010 1:01 am

    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!

      

  41. best forex robot 2009 on July 14th, 2010 6:39 am

    How can this broker legitmately charge you no spreads in between the bid/ask price?

      

  42. Matty on July 14th, 2010 6:41 am

    This is FX Club broker I’m assuming? do they still offer no spreads?

      

  43. Ethan on July 18th, 2010 4:17 am

    The legal stuff about the NFA is the hard bit I suppose

      

  44. Hunter on July 18th, 2010 4:44 am

    Would you consider yourself a technical trader or a fundemental trader ?

      

  45. Slonvarralo on July 20th, 2010 1:22 am

    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 !

      

  46. Louie on September 5th, 2010 9:18 pm

    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.

      

  47. Maria on September 10th, 2010 12:53 am

    i use them all the times great broker, fx club awesome dudes!

      

  48. Albina Ferratt on February 18th, 2011 6:59 am

    Share FX Investment

      

  49. Candle Forex on February 27th, 2011 11:03 pm

    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!

      

Got something to say?





Copyright © 2007-2011 Forex Review Blog · Privacy Policy · Terms of Use · Log in · Risk Warning

highslide wordpress
Hire PHP Developer India