FX Deals Club is a firm that manages people’s accounts. The developers claim that it’s “A Complete FX Deals Management.”
All of this sounds like a scam, especially 20-year trading experience. The only account that’s connected to the site was created at the end of March 2021. If the developers were that good as they tell, there would be much more proof of this.
FX Deals Club: To Trust or Not to Trust?
We never trust the money-management companies that use Hedging in trading. When you allow someone to trade for you, everything you want is that your account will grow safely. Hedging is not about safeness at all.
The company provides little info about the service. It’s not enough for sure:
- The system has a proven strategy.
- The company has extended trading experience.
- The system works with Price Action and Trend trading strategies.
- It trades Support and Resistance levels.
- It works with EUR/JPY.
- H1 is the main time frame to work.
- Trades have fundamental and technical backgrounds.
- The market is monitored by the system to spot the best trading opportunities.
- We have to provide a password from our account. It’s a scam.
- From 30% to 50% Return on Investment we can expect.
- There is 24/7 support provided.
- $250 is required as an upfront fee to get started.
- We can pay for the service via Skrill, PayPal paid systems, or via Bitcoin.
- We have our balance to be over $1000.
- The optimal account size is $5000.
- We may be asked to change a broker.
- The additional fee is 35% of the commission from the successful trades.
- Sharing with someone an MT4 password it’s a huge security mistake.
There’s also FXDC Hedger EA in the portfolio with trading results provided:
- The robot works automatically.
- The system provides 10% daily.
- The minimum balance has to be $1000.
- The robot has to work with 1:400 leverage or higher.
- We can use it on any broker.
The robot costs $499 for a lifetime copy. The package includes a real license, unlimited account licenses, 24/7 support, free updates. There’s no money-back guarantee provided.
Verified Trading Results
The presentation includes pictures of backtest reports. They can’t be verified.
There’s a real USD account on the FBS broker published. The robot works automatically with 1:500 leverage on the MT4 platform. The account has received a verified track record badge. It was created on March 16, 2021, and deposited at $3,489. Since then, the absolute gain has become 599.17%. An average monthly gain is +361.70%. The maximum drawdown is dangerous – 78.36%.
FX Deals Club EA traded 75 deals with a negative number of pips (-1502.1). The system is profitable only because of aggressive Martingale. An average win is 18.84 pips when an average loss is -246.18 pips. The win rate is 84% for Longs and 86% for Shorts. An average trade length is 11 days and four minutes. The Profit Factor is 1.81.
There are many currency pairs that were tried by the system. GBP/USD is the most frequently traded one. The most profitable is GBP/CAD, with $4234.
The system focuses on trading during the European trading session.
Wednesday (12 deals) is the less traded day.
The system works with the insane risk to the balance.
The robot uses Martingale for Hedge deals.
There’s a single month traded. The system is so young to say something for sure.
Last week, the system worked with sky-high drawdowns, having set the account at huge risk.
Everything we know is that the company is from Dubai, but without proof, it’s just words on the site. So, the company has a low level of transparency.
There’s a profile of FX Deals Club on Forex Peace Army with a 4.3 rate based on three reviews. The company has two real accounts stopped, and only one working.
The people’s testimonials are positive.
We have no profiles of the developers, traders, and analysts. It’s important to understand what the guys are behind the company. Alas, this information is covered, and this is suspicious.