Forex broker Forex EuroClub: review of the fraudulent company’s activities
Forex EuroClub: Review of the Forex Broker’s Activities
Forex EuroClub – a company operating in the financial market for over 20 years, but its reputation leaves much to be desired. Let’s explore why fxeuroclub.com has so many negative reviews and what conditions this brokerage center offers. In this review, we will strive to provide an objective assessment of the activities of this organization.
Review of the Company Forex EuroClub
Forex EuroClub openly admits that it does not conduct transactions through the interbank market. Starting its operations as a bookmaker in 1999, the company later merged with High Street Networking, which had been operating in the Forex market for several years. The office of Forex EuroClub is located in Moscow, but there are also partner offices in various cities of Russia.
The company claims that its activities are regulated by CRFIN (Russia), as well as High Street Networking and Laiki Banking Group, however, there are no licenses from the Central Bank of the Russian Federation. This raises certain doubts, as a financial company operating in the Russian market is required to have regulatory documents from the Central Bank.
Contact information is provided on the fxeuroclub.com platform. The customer support number of the Forex broker is +7 (499) 346-06-78. Users note difficulties in reaching them by phone. For technical issues, it is recommended to contact support@fxeuroclub.ru, and for other inquiries – info@fxeuroclub.ru.
Review of the fxeuroclub.com Platform
The initial impression of the fxeuroclub.com website is more negative than positive. The platform’s design is rated as unsatisfactory. Analytical reviews, currency exchange rate charts, and an economic calendar are available online. News is presented in a table format with important events.
Users highlight the difficulty in navigating the site, making it inconvenient to use, especially for novice traders. It is claimed that the platform administration intentionally complicated the site’s structure to attract traders to the services of leading experts, who, according to reviews, are only interested in themselves.
Trading Conditions Review
There are several key points to consider:
- Minimum deposit – $100/1000 rubles.
- Leverage – from 1:1 to 1:200.
- Trading instruments: 13 currency pairs, three indices, two metals.
- Demo account available.
- Spreads start from three points.
Based on the experience of preparing reviews, the trading conditions on this platform can be characterized as not very favorable, especially considering the number of trading instruments. Spreads are also considered inflated compared to the best forex brokers.
Trading platforms offered for trading on fxeuroclub.com include TradingDesk, Wap Forex, Forex Web Trader, Mobile Forex. However, this software is considered outdated, reducing its attractiveness to traders.
Registration on fxeuroclub.com Platform: Process
The registration process on the Forex EuroClub platform does not require document verification, simplifying the account creation procedure. However, this can also raise concerns about the company’s reliability. Users can open multiple trading accounts, with the offer contract signed in digital format.
If necessary, paper copies can be requested. To evaluate the platform, it is recommended to start with a demo account. For those wishing to move to real trading, it is necessary to fill out a form with personal data and the chosen payment method.
Deposit and Withdrawal Methods Review
Several methods are offered for depositing and withdrawing assets: electronic payment systems Qiwi, WebMoney, Yandex.Money, bank transfer, cards from various banks. A commission is charged when withdrawing to a bank account or card at a rate of 4.9%, and additional fees may also be applied by payment systems.
Account Types: Conditions
Two types of trading accounts with different conditions and deposit thresholds are presented on fxeuroclub.com. Ruble Forex and Mini Forex offer different opportunities for traders, but according to users, there are more attractive options with other forex brokers.
Managed Accounts: 50/50 Program
Experienced traders are offered a managed account service. However, caution is advised, as unethical practices can lead to financial losses. The company may be held responsible for potential losses.
User Reviews: General Opinion
User reviews indicate unethical practices at Forex EuroClub. Many traders complain about non-payments and issues with transactions. Based on the available information, it is recommended to avoid this forex broker.
Author: Anastasia Chabanyuk