Expert AdvisorsForex

FX Deal Club Review: Things You Need to Know Before Investing

2 Mins read
4.5

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.

Trading history on FXBlue
Trading history on FXBlue

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.

Live records from FXBlue
Live records from FXBlue

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 return104.3%
Maximal drawdown 2.8%
Average monthly gain 12.5%
DeveloperN/A
Created, the yearN/A
PriceProfit sharing 75-35%
TypeReal
TimeframeN/A
Lot sizeN/A
LeverageN/A
Min. deposit$500
Recommended deposit$5000
Recommended brokersSupports all brokers
Currency pairsUSDCAD
ECNYes

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. 

User Reviews on Forex Peace Army
User Reviews on Forex Peace Army

FX Deal Club Summary

4.5
FX Deal Club does not provide clear details on its strategy. They implement averaging techniques to recover from losing positions and ask users to provide sensitive information such as account login details. The customer support is only available through a contact form present on the website.
5.0

Functionality

3.0

Reliability

5.0

Strategy

5.0

Price

6.0

Trading Results

3.0

Vendor Transparency

Pros

  • +Live records available on FXBlue

Cons

  • -They use averaging strategies
  • -Demands sensitive information such as account login
  • -Lack of reviews on Forex Peace Army
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