Forex (Forex) – reviews from real people about making money on currency differences after trading courses

Forex Club is an international company providing Internet trading and investment services. was founded in 1997 in Vladivostok. In 1999, the company's first offices were opened in Moscow and Khabarovsk, and in 2000 the official Forex Club website appeared. Now the group has more than 100 offices in Russia and abroad, including the USA, China, CIS countries, EU, Latin America and Asia. Today the Forex Club company offers the following services:

• Forex trading (currency pairs, metals, cryptocurrencies, CFD contracts for shares, indices, agricultural commodities, oil and gas);
• Web-terminal Forex Club Libertex;
• daily analytics Forex Club;
• ready-made investment solutions for traders and investors;
• accrual of interest on a deposit of $5,000;
• withdrawal of profits within one day;
• compensation for commissions of payment systems;
• telephone dealing;
• 24/7 technical support;
• special conditions for VIP clients;
• various bonuses and promotions;
• a huge selection of payment systems for depositing and withdrawing funds;
• Forex training from scratch for beginner traders and an individual advanced training program for experienced traders from the International Academy of Investment and Trading;
• profitable affiliate program.

Now the Forex Club company has ten dollar millionaires who have managed to earn impressive profits by collaborating with the Forex Club broker.

Scam or not?

Definitely not. Forex Club is one of the most reliable and ethical brokers on the market. The only complaint is that, like all other brokers on the market, Forex Club quite actively scams clients into increasing their deposits by depositing additional funds. How do they convince clients to deposit more and more funds? With the help of bonuses. You will find a large number of bonuses in advertising on the broker’s website, but in addition to these bonuses, the manager can give additional bonuses to the client at his discretion. Typically, the need to add bonus money to the client is “seen” after a deposit that greatly exceeds $1,000.

Expert opinion about DC Forex Club (pros and cons of the broker)

We note right away that reviews of this broker are mostly positive. Without much enthusiasm, nevertheless, the picture is in favor of the company. And experts note many more advantages in its work than disadvantages.

So, about the good things:

• the brokerage company does not set a minimum deposit size;
• clients have access to several trading terminals and, as a result, several types of accounts;
• “ready-made solutions” provided by DCs are a good help in work for novice traders;
• favorable partnership conditions, interest on deposits;
• real funds can be easily separated from virtual ones, thanks to a separate bonus account;
• The Forex Club dealing center became the basis for the creation of the International Academy of Investment and Trading.

And now about the disadvantages, of which there are very few:

• many do not like the company’s too close attention to the identity of its customers, in other words, users are unhappy with the requirement to provide too detailed personal data during registration;
• connecting to “Trading Systems” is not cheap, which is also not liked by clients.

How to make money on Forex Club?

1. Learn to trade. Forex Club offers its own resources for training novice brokers, and you will also find many useful educational resources that do not depend on any broker.
2. Trade profitably on a demo account. You should not switch to trading with real money until you have started making stable profits on a demo account.
3. Develop your own strategy, understand what signals you will focus on. Every successful trader has extensive trading experience and a successful trading system. Of course, on a demo account you can only develop one as a first approximation.
4. Switch to trading with real money. Analyze the results of your trading, reduce the number of unsuccessful transactions.

MT4-Market Execution

• Deposit currency: USD
• Minimum deposit: none
• Leverage: 1:500
• Minimum lot step: 0.01 lot
• Commission: from 0.04$/0.01 lot
• Spread: from 0.5 points
• Stop out level: 50%
• Margin Call Level: 100%
• The account is designed and provided for beginner traders who are going through the learning stage. The StartFX platform provides assistance from a built-in advisor when concluding transactions, as well as tips in market analysis for successful trading.

MT4-Libertex Manager (for manager)

Trading platforms

Forex Club offers several trading platforms to choose from; I must say that this is a unique offer on the market; few people have such a variety of platforms. The preferred platform must be selected when opening a trading account or demo account, however, you can change the platform later.

Metatrader is perhaps the most widespread trading software on the Russian market. Forex Club offers both the well-known MT4 and the newer MT5.

Metatrader is a very powerful platform, in addition, there is a huge amount of educational materials on it in Russian. You can't go wrong if you choose this system for trading.

Libertex is the Forex Club's own trading platform; it offers a simple and intuitive interface, with analytics, technical analysis indicators, and trading tools available in one window. A fairly detailed training course from the Forex Academy is also integrated into the platform.

The disadvantage of the platform is that it is not yet possible to use third-party trading advisors, as well as trading robots.

Rumus is a platform that generally replicates the functionality of the more popular MetaTrader. If you're just starting out in trading, I don't see much reason to choose Rumus, but many traders with extensive experience continue to trade on this platform today.

VIP program

For VIP clients with $50,000 or more in their account, the company offers special terms of cooperation:

• compiling an individual investment portfolio in accordance with financial goals;
• services of a personal financial advisor and obtaining individual trading conditions;
• additional bonuses to the account;
• Individual support on trading strategies.

VIP status is assigned for a minimum of 2 months. You have the right to reject this offer from the company. FxClub LTD provides clients with unique trading platforms: libertex, Rumus. The Rumus and libertex trading platform is provided for opening an investment account. The Rumus and libertex trading and analytical platform is designed for experienced traders as an alternative to MT4/MT5.

FxClub trading platforms are:

• direct supplies of liquidity from a pool of investment banks and top-level non-banking organizations;
• direct entry of the client into the interbank market;
• display of liquidity levels.
• trading in one click (One-Click Trading);
• fine settings for order execution;
• connection via the FIX API protocol for high-speed trading;
• narrow market spreads guaranteed by high liquidity;
• minimum execution time (from 0.2 seconds);
• trading in large volumes with minimal slippage of stop orders and accurate execution of limit orders.
• placing a transaction on behalf of the client in compliance with the highest data security requirements;
• dedicated technical support line;
• Concluding transactions by phone (24/5).

Note! When replenishing your account with an amount of $100 or more, FxClub LTD compensates for the commission charged by the payment system.

Information updated 03/19/2021

Forex Club app

Currently, Forex Club is developing the only mobile application based on the Libertex platform.

We do not recommend mastering Forex using a mobile application; in particular, only a stripped-down version of a demo account is available there, which is intended more for getting acquainted with the platform itself, and not with the Forex market as such.

For professional traders, of course, the functionality of the mobile application will also not be enough.

However, as an additional tool for those times when a laptop or desktop computer is not at hand, a mobile application is quite suitable.

conclusions

By the standards of the brokerage business, ForexClub are already old guys with a lot of experience. But still, even with them you can find obvious disadvantages that interfere with trading.

1. No Islamic accounts (SwapFree).
2. No cent accounts for beginners. In general, the conditions are very tough for beginners.
3. A small selection of investment ideas, trading systems and model portfolios.
4. There are no direct links to licensing and regulatory information.
5. It is not possible to top up the deposit with cryptocurrency or any other national currency.
6. The Rumus terminal, in my opinion, is morally outdated; only very conservative traders trade through it.

Alpari or Forex Club or something else?

Forex Club is an excellent choice for a trader of any level; you cannot go wrong by choosing this broker. However, there are still several good brokers that can compete with FXClub.

Alpari

Alpari is another broker regulated by the Russian Central Bank, also very well-known and popular on the Russian market.

Like Forex Club, Alpari offers clients a demo account, a low initial deposit and attractive bonuses.

What is the advantage compared to Forex Club? Alpari has a so-called cent account, which means you can enter into a transaction with virtually no financial risks, while working with a real trading account and real money. For beginners, a cent account is a very good opportunity to make the transition from trading on a demo account to the serious work of a professional trader.

Finmax

A small and relatively new broker on the market, FinmaxFX attracts traders with good trading conditions, low spreads and fast order execution.

Finmax is a “second-tier” broker, so they try to be a little closer to the client than such giants as Forex Club or Alpari.

Instaforex

InstaForex is a very well-known international broker, and they also have a license from the Central Bank of the Russian Federation, although not as a Forex dealer, but as a broker.

InstaForex has one important advantage over Forex Club: Insta offers new clients a real no-deposit bonus. The size of the bonus is determined individually at the discretion of the broker and ranges from $100 to $1,500.

So, regardless of the final preference of the broker, we recommend registering an account on InstaForex and receiving your no deposit bonus without any obligations.

Forex trading training – reviews from a real person

It must be said that the advertising campaign to attract people to currency trading operations was carried out quite effectively with the help of various media, and, in my opinion, often achieved its goal. People willingly responded to invitations to try themselves in this seemingly simple way of making money.

So I, having signed up for courses to master the specialty of a trader, found myself in a group of about twenty people, both male and female, but there were still much more men.

A trader is a person who trades on global markets on his own initiative and strives to make a profit based on changes in the exchange rate value of currencies, shares and other cost resources.

At the first organizational meeting, Alexey, a company representative, talked for about two hours about what Forex is, cited real people’s reviews as an example of the effectiveness of training, and naturally, presented us with only positive ones.

He also explained how you can make money using the foreign exchange market. Now, recalling this first impression, I can say that everything the lecturer spoke about then remains relevant to this day.

Before me and other students of the introductory course, images of a cloudless life that would begin after learning the basics of trading and our further participation in market operations loomed pleasantly. The mood of all future traders was high and did not darken even when Alexey announced the cost of a month’s training course.

The figure of six thousand rubles seemed to me then quite acceptable for getting the basics of trading on Forex, and it had to be paid not even once, but in two parts. But payment for the first part had to be made in cash no later than one week after the start of classes.

Of course, all students were pleasantly pleased that the payment could be divided into parts.

At that time I didn’t have any special problems with money, but I also decided to make the payment in two stages. This is in case something goes wrong, you can save at least some of the money. I think most did the same.

In 2004, the Russian ruble to dollar exchange rate was quite stable and fluctuated around 30 rubles per unit of American currency, but the average salary in the country was about $200.

My point is that you can compare the cost of training with the income of the average citizen of Russia, and I think that it is not difficult to estimate the total income received from course participants.

How was the Forex training carried out?

Before answering the question that interests many, “is it possible to make money on Forex?” I'll tell you how my training went. So, face-to-face two-hour classes were held 3 times a week, for daytime groups in the morning, and for those who find it more convenient to study in the evening, at 19.00.

Moreover, we studied theory for two days, and the third lesson was practice. There were two teachers: the first, as I mentioned earlier, Alexey, who taught economic analysis of markets, the second, Victor, who introduced us to the methods of technical analysis.

The lessons took place on the premises of one of the technical schools in Yekaterinburg, or rather in a regular classroom with a blackboard without computers.

The teacher drew graphs and formulas on the board, and the students noted down the information in notebooks. Sometimes we wrote so much that sometimes our hands got tired out of habit, and the lecturer boredly dictated entire chapters from books to us.

Teaching methods of earning money was put on stream, and from Monday to Saturday at least 3-4 groups came to training every day. As I already mentioned, there were about twenty people in our group, I think that the rest of the group was no less.

In general, we were thoroughly loaded with theory, and somewhere in the middle of the course, students were offered to purchase 2 hand-cut discs of the training program for 500 rubles each.

The people perceived this gesture as a gift and happily purchased this product, and our group alone brought the organizers a profit of 20,000 rubles. I still have these two disks and are lying somewhere.

I admit that there was a carload of information and a small cart: books by numerous gurus, “Currency Speculator” magazines for different years in electronic form, various software for trading and other information.

There were at least a hundred methods of technical analysis on the disks alone, and the names of the publishers of trading textbooks such as Frost, Elder, Murphy, Williams, Borsellino, Schwager, Fisher, Neeson and others allowed me to feel close to selected Forex experts.

If we assume that I would read all this fluently, it would take me at least two, or even more years. But then it seemed to me that I would soon join the ranks of successful traders without additional literature and start shoveling money.

After two weeks of classes, everyone already considered themselves great masters in currency trading and were eager to fight for big money. We were worried about the same questions: “when will we really start trading”, “what will be our first earnings on Forex”, “are the reviews real or not”, etc.

I remember now that at that time the mood of the training group was high, the people were eager to fight, and Lydia, one of the few female students, as opposed to everyone who wanted to make money, often said: “I don’t know for sure whether it’s possible to make money on Forex,” but I really like the fact that there are a lot of men here, potential husbands.

Even after many years have passed since our training, my friend Felix, with whom we trained, claims that “Forex” is a kitchen and a scam, but nevertheless remembers that the training on the courses was not bad.

We had an economics specialist, I don’t remember his name, but I still remember his words about what “Forex” actually is. He argued that only by knowing the economic conditions of currencies and having decent capital, one can successfully work in the market.

But at that time, economic analysis, as the main factor in market behavior, was practically not taken into account by me, and almost all participants in the training, and only technical analysis was taken into account.

Now I understand that analyzing the past and finding signals on currency charts that confirm a change in its value in one direction or another is much easier than predicting the behavior of a currency pair in the future.

The students easily drew Japanese candlesticks, fractals, stochastics, and other figures with magical names on the board and in their notebooks and competed with each other to correctly predict the currency market.

And luckily, one day the teacher said that we were ready to work on the real market, but first we had to pass a test. Allegedly, the company gives us 100 greenbacks, which we must increase in a week or, in extreme cases, not lose.

Test

Having received 100 virtual dollars into their account and installed the MetaTrader program, students reported on their successes or failures at each lesson. To be honest, the excitement was amazing, and within a week many people increased their wealth several times. I don’t remember exactly, but at that time I had a figure of 300 dollars on my account.

But how I got them, these virtual dollars... I’ll tell you now. During the courses we were repeatedly told that:

The market is driven by two driving forces - greed and fear. The first force is personified by bulls, and the second by bears.

Bulls are aimed at buying, and their actions cause the market to grow, that is, the price rises. Bears, in turn, push prices down and thus can collapse the market. The entire trading system on the stock exchange is based on the struggle between these two forces.

But that’s why it’s a market, so that everyone who comes into contact with it feels its power. Now I think that the market can easily control a person’s actions and emotions, and this is especially true in short-term currency trading.

And when I first got the opportunity to trade in a real market and with a real opportunity to earn real money, then, to be honest, I felt some timidity.

You know, there are situations the possible development of which I can well imagine and know how to act in them, and those do not scare me. But when I found myself at the monitor screen with currency charts and trading signal indicators, at first I was completely confused. Everything we were taught did not give me confidence in the right direction of the transaction. Buy or sell – that is the question.

One of the commandments of Forex is: “never go against the trend.”

I stupidly followed this rule and, by making small bets, gradually increased my account. Sometimes the market turned around, but I remembered that it was better to close a losing position in time.

And an extraordinary passion took possession of me during trading, the same thing happened with other participants. People who have poor control over their emotions lose money very quickly. Giving in to excitement, they increase bets, take unnecessary risks, double the lot and, as a result, fail.

Therefore, learning forex, reviews of which you can read on the Internet, is not only about the head, but also about emotions.

But I managed to cope with the emotional component of trading, and at the end of the week-long test I received my test and praise from the teachers. Even now I can say that it was not in vain that I paid the money for training, since the knowledge I gained from the course was quite good.

How to deposit money into your FXClub account?

Forex Club offers many options for depositing and withdrawing funds from the system. These are plastic cards Visa and MasterCard, as well as electronic systems: WebMoney, YandexMoney, Qiwi, Moneta, Skrill. And also Beeline, MTS, Megafon, Kukuruza cards, Faktura.ru and so on and so forth. You can also top up your account using a bank transfer.

We note the possibility of instantly replenishing your account by linking a card, as well as emergency replenishment, which is useful, for example, in the case of Margin Call.

Please note that the broker charges a replenishment commission for deposits of less than $100. (usually a few percent of the payment amount).

Forex Club does not limit the client to a minimum deposit amount. But we must remember that the top-up amount cannot be less than the minimum amount required for the transaction. For most deals it's around $5-10. So you don’t need to invest a lot of money to start trading with a broker.

However, if you deposit over $1000, you will receive a bonus of up to 20% due to the fact that the broker converts rubles into dollars at a “promotional” rate. In addition, you can get up to 36% per annum on your account balance, which is an order of magnitude higher than bank commissions on deposits.

MT4: MT4-Instant and MT4-Market

• Deposit currency: USD
• Minimum deposit: none
• Leverage: 1:500
• Minimum lot step: 0.01 lot
• Commission: none
• Spread: from 0.6 points
• Stop out level: 20%
• Margin Call Level: 100%
• The MetaFX account is divided into two account types: MetaFX Instant Execution and MetaFX Market Execution. If your strategy involves trading at an exact fixed price, then the MetaFX Instant account type is suitable for you. If you are interested in executing trades at the market price, you can take a closer look at the MetaFX Market account type.

MT4-Market Execution

Analytics

Forex Club provides its clients with the following analytical tools:

• Technical and fundamental analysis.
• Calendar of important economic news.
• Key rates of Central banks.
• Autochartist.
• Trading Central.
• Youtube channel with regular reviews.
• An indicator of the mood of foreign exchange market participants.

Attention! Free use of some tools is only possible for clients who have a certain package of services.

SCORE: 8

See analytics from Forex Club:

Trader tips

I will list the tips I have verified from traders’ reviews.

1. Work on yourself. When an evening session is planned, no beer with friends.
2. Work with 1–2 currency pairs.
3. Find 2-3 indicators to start trading. Don't spread yourself too thin - you'll get confused.
4. Do not shift responsibility (the decision to buy/sell) to robots, advisors and analysts. There are many smart people, but the money is yours.
5. Do not trade during news releases.
6. Limit your time working on Forex. You won't earn all the money.
7. Control the time allotted to Forex. If trading is replaced by chatting, happy reviews, reading news, there will be no profit.