FX Club Basics

Forex Club Financial Company is a Staten Island based Forex firm that boasts their biggest selling point as having no spreads, which means that the bid and ask price are the same and instead, traders pay a commission. In Forex Club’s case, this is $0.40 for every 1,000 units of currency which is $4 for a 10k position. In the case of EUR/USD where a 3 pip spread is common (which equates to a $3 cost of entry) this is a little high but for a pair like GBP/JPY where 9 pip spreads are common this is a good deal. They also provide refunds of the commissions for non-profitable trades. Forex Club is a dealing desk firm.