FX Deal Club claims to have been in the market since 2001 and is committed to maintaining transparency and excellent service. They follow a price action strategy and use an account management service to execute trades on your portfolio. We will discuss all the potential advantages and disadvantages of the service to see if traders can benefit from the product.
FX Deal Club trading strategy
The authors state that they implement a price action methodology based on the daily trend. They use economic news and technical analysis observed by professional traders to generate profits. The minimum amount required to start using their service is $500. From the live records on FXBlue, we can observe that they are using averaging techniques on USDCAD.
FX Deal Club backtesting report
There are no backtesting records on the website, which is a poor practice. Historical testing can help us understand the performance of the signals with another angle.
FX Deal Club live results
The live track record of the algorithm is available on FXBlue starting from September 23, 2021, till the current date. The signals show a higher drawdown percentage of 2.8%, with a total monthly gain of 104.3%. The monthly gain of the system as of now is at 12.5%.
The winning rate stood at 73.2%, with a profit factor of 2.63. Out of 254 executions, the best trade was $30.66, while the worst was -$38.28.
Some features of FX Deal Club
The service has the following key points:
- Top security guaranteed in fund management
- 24/7 customer support
- Requires only $500 to get started
- All brokers are supported
| Total return | 104.3% |
| Maximal drawdown | 2.8% |
| Average monthly gain | 12.5% |
| Developer | N/A |
| Created, the year | N/A |
| Price | Profit sharing 75-35% |
| Type | Real |
| Timeframe | N/A |
| Lot size | N/A |
| Leverage | N/A |
| Min. deposit | $500 |
| Recommended deposit | $5000 |
| Recommended brokers | Supports all brokers |
| Currency pairs | USDCAD |
| ECN | Yes |
Main things to consider if you invest with FX Deal Club
The service is unfit for use due to the following points:
Backtesting results
The company does not provide any backtesting records for their signals.
Averaging
The signals use averaging strategies, which can cause a high drawdown if the market has significant momentum in one direction. The developers are not clear on their use of the grid approach.
Pricing details
The authors provide their services using account management services. Traders will have to open an account with their MT 4 broker and provide their login details to the signal providers. The profit-sharing is capped at 75-35%, the former favoring the investor.
Other notes
The product has three reviews present on Forex Peace Army which gives them a total rating of 4.385. A customer states that he has started using the service last week and feels that the support is ok. They provide no rating for the service.
