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FX Club US Review

FX Club US is a well established and highly regulated (NFA/CFTC) forex dealer located on Wall St. in New York. It has a high level of capitalization that is well above the regulators' requirements. Traders can therefore be fairly certain that their funds are safe on deposit here, which is important for US-based brokers since they have a 2% margin requirement (max. 50:1 leverage*). This means that a large portion of your trading capital does have to be in the broker's account, so safety of funds is a particularly important issue.

Beyond the regulation and funds safety, FX Club US offers some excellent trading conditions - very low spreads, scalping, and guaranteed execution on pending orders is a combination that will tickle the fancy of many short term traders.

In terms of trading platforms, there is a large variety available, but really only ActTrader seems to be worthy of our money. If you're not sure about ActTrader, it is in some ways similar to, but better than MT4. It does pretty much everything that MT4 does, including automated systems, but it also has some features that MT4 doesn't have, such as complex order types (OCO, If/Then). On top of that, ActTrader accounts also get much tighter spreads and some would argue even better execution (although that is not confirmed).

The other platforms, in comparison to ActTrader, are clunky, unstable, complicated, and for some reason entail higher spreads. The exception is perhaps the ExpressFX platform, which does have the advantage of microlot trading, but also has limited functionality and higher spreads.

The currency pairs on offer are not highly impressive, but most traders who aren't looking for anything like SGD/PLN will be satisfied with the available pairs (see below for a full list).

In conclusion, if you are looking to invest a good amount of money, and are not looking to trade anything too exotic, then FX Club US is a very good choice for you, particularly if you value the safety of your funds (as you should) and are a short term trader. Smaller account holders are advised to look elsewhere so they can trade microlots in style.

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Subjective Ratings

Charting: Five star Charting Rating
Execution: Four star Execution Rating
User-friendliness: Five star User-friendliness Rating
Customer support: Five star Customer Support Rating
Transaction costs (spreads): Five star Transaction Costs (spreads) Rating
Rollover interest rates: Four star Rollover interest rates Rating
Withdrawal processing: Four and Half star Withdrawal processing Rating
Platform Functionality: Four and Half star Platform Functionality Rating
Platform Reliability: Five star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: New York, NY, USA
Regulated By: NFA (0358265), registered with CFTC
Client Account Segregation: No
Collect Taxes on Earnings: 1099 form provided
Accept US traders?:
Main liquidity providers: Unknown
Broker Capital as of 05-2011 $20,847,578
Registered Business Name: Forex Club LLC
In business since year: 2006
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Not loaded

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Trading Conditions

Browser platform: ActTrader Web,Rumus Web,Tradency
Downloadable platform: ActTrader,ExpressFX,Rumus
Mobile platform: ActTrader iPhone/iPad,ActTrader Mobile,Forex Club Droid,Rumus Mobile
Phone dealing: No
No Dealing Desk Execution: No, all order are routed through FX Club's dealing desk.
Fixed spreads: No
Guaranteed stop losses? No
Hedging capability: No hedging due to NFA regulation.
Trading Hours: 21.00 GMT Sunday - 21.00 GMT Friday
Timezone User-defined (on ActTrader)
Scalping allowed: Yes, all trading methods are accepted.
Account currencies available: USD
Platform languages: English
Support languages: Chinese, English, Portuguese, Russian
Demo account: 30 days
Live chat support: Yes
Promotions & tournaments: None at this time
Swap-free accounts  No swap-free accounts available
Typical spread on EUR/USD: 0.8 pips (0.00008)
Order processing: All orders routed through dealing desk.
OCO orders available: Yes,
Trailing Stops: Server-side
If/then orders available: Yes, on ActTrader
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Not loaded
Tradeable Instruments: 22   
Automated Trading: ActTrader & Tradency
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market: 10 pips

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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