Forex Club – Is it scam or safe?

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Forex Club – Is it scam or safe?

Forex Club is a collective brand of several companies that provide trading in forex. Indication Investments Ltd is the only one that is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC). The CySEC license allows it to conduct financial services, including forex.

However, there are some posts in forex forums that inform about bad practices related to poor customer support, great negative slippage, widening spreads, re-quotes and some difficulties in withdrawing money back from the company.

So far, we haven’t received any complaints from clients of FXClub.com.

If you feel frustrated by FXClub.com and have something to share with us, please fill in the form below, describing your case:

4 Complains

  1. I tried them for about one week. I don’t recommend them at all. The spreads in the real platform are far from these in the demo Mt4. I asked them why and they answered me that spreads will be the same when I open an account with 50,000. I’ll try to do this and wll see. Otherwise the execution is not bad – sometimes they requote me. If the spreads don’t normalize I am getting out.

  2. I would like to share my bad experience with FxClub to avoid other traders to be fooled like I was. I started trading a few months ago and reached 50% gain of my account although I had to recover a big loss initially. Then the problems started. Their platform opened positions of opposite directions than I ordered and this happened twice. I emailed them but nothing happened. During the next few months they stole from me more than usd 50,000. And don’t think about where are they regulated. These regulators help only you are citizen of their countries. So, this company is fraudulent and dishonest. They apply cheating practices to its clients. And their CEO tatarnikow is so untruthful person. When I informed him what happened he answered me he will ceck and nothin hapapened again. I should tell also that the president of this firm Michael Felice is connectd to Balfour Maclaine futures – another scam company. STAY AWAY!!

  3. I participated in the trader competition organized by forexclub.org. I was taking the first place several days but then they removed me from the rank list and I don’t know why. I hope now everyone who has an account with them to get out of them. They are really a big scam.

  4. Beware of these guys, they are scammers. I’ve been trading with them almost a year and tried to withdraw some money several times. All of them have been rejected and they forced me to provide more and more documents. During the registration process, they asked for my passport and bank details only. However, when I tried to withdraw funds, they use all available reasons to prevent getting my money back. So, they requested various additional documents such as: your passport, your picture with your passport placed in front of you, bank statement with all transactions, utility bill and all pages of my passport. I am still with my parents and I don’t have it with my name and they even wanted their utility bill although our names are not related. They insisted this for fraud protection. WTF, yeah. And after I sent all required documents I haven’t received any payment yet. Perhaps they will ask for my DNA and a blood test… SCAMMERS

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