FX Deal Club is a service offering complete and efficient management of your Forex deals. It promises to protect your trading capital from losses, therefore securing bright futures for traders who place their trust in this expert advisor. FX Deal Club works with the MT4 trading platform, and as per the vendor, you can earn consistent returns with it.
Can You Depend on This Forex Robot?
On the official website of this Forex robot, the vendor makes a rather brief presentation. They provide us with a brief overview of the company objectives and what it stands for. Next, we have a list of the main features, with brief descriptions provided for each. The various details related to payment, investment, and brokers are provided in a question and answer format, and finally, a contact form is provided, using which you can apply for membership.
The vendor doesn’t provide enough information about the parent company, which is not a good sign. We know that the company has been active since 2001 and that they are trusted by financial institutes and traders worldwide, although the latter claim is unverifiable. We don’t know if the traders and developers have the required experience since their identities have not been revealed. The company headquarters are located in Dubai, UAE.
FX Deal Club trades in major and minor currency pairs like AUD/CAD, AUD/JPY, AUD/USD, EUR/AUD, EUR/CAD, EUR/GBP, EUR/JPY, EUR/NZD, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, XAU/USD, USD/JPY, etc. The robot’s trading model analyzes the daily trend and the price action, and each trade is placed after careful fundamental and technical analysis. Marketing monitoring is carried out 24/7 in order to find the best trading occasions.
Here, we should mention that there are no details provided on the trading strategy used by the system. Seasoned Forex traders always look for technical details, and this might disappoint them. We hope the vendor decides to include details about the trading scheme in the future.
How to Start Trading With FX Deal Club
In order to start trading with FX Deal Club, you first need to pay a fee of $250, which is pretty standard compared to the market average. Additionally, you will be charged 35% of the profit you make every week. If you don’t make profits, you don’t need to pay this fee.
The minimum amount of money you need to start trading is $1000. Nevertheless, the vendor recommends that you start with a minimum balance of $5000 or more. The more you invest, the more monthly profits you can make.
FX Deal Club Backtests
The backtesting results have been presented on the website in an odd format, and we cannot tell whether they are genuine or not. Only the starting balance, the testing period, and the total profit generated for the tests have been mentioned. Forex traders always look for verified performance statistics, so they might take this as a red flag.
Trading Results
This trading account has been active since 16th March 2021. As we can see, it has suffered some tremendous losses along the way, owing to which it has made no net profit, rather suffering from a loss of $3503.49. The daily and monthly gains are -7.99% and -91.52%, respectively, and seeing this, we are convinced that FX Deal Club follows an extremely risky trading procedure.
Although 75% of trades placed through this account have been won, the losses suffered were huge. By checking the trading history, we can see losses of up to -16%, which is quite significant. There is no way we can compare this with the backtesting data, due to the lack of information surrounding the latter.
Other Notes
In order to use the managed services account, you need to share your MT4 login credentials. As per vendor claims, the system can provide you with a 30-50% ROI on a monthly basis. Customer support is also offered 24 hours a day, 7 days a week. FX Deal Club uses several risk management schemes like hedging in order to protect your account.
People Feedback
The user reviews for FX Deal Club on the Forex Peace Army website are mostly positive. Users have praised the high success rate and the customer service experience. One user has mentioned that the system does not overtrade in the absence of trading setups, which minimizes the losses suffered.
Wrapping Up
Advantages
- Verified live trading results
- Positive customer reviews
Disadvantages
- Huge losses in the live trading account
- Lack of strategy insight
- Unverified backtesting data
Summary
This Forex robot is certainly not a good investment prospect, since we can see extremely high drawdowns and major losses suffered in the live trading statistics. Furthermore, we don’t know what kind of strategy the system uses, so there is a high likelihood of disastrous results while working with FX Deal Club.
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