What We Tested
- Account type: Libertex Platform Account ($300 starting balance for test)
- Platform: Libertex Web/Mobile
- Trading period: 4 months, 70 trades executed
- Pairs tested: EURUSD, Crypto CFDs
- Withdrawal tests: 2 successful (Skrill, Perfect Money)
- Support tests: 4 inquiries via chat
We set out to work out what Libertex actually charges, and whether withdrawals arrive.
Regulation & Safety
ForexClub runs on old and offshore licences, and that carries real risk:
- CySEC (Cyprus) โ An old EU licence, held by a different company in the group.
- IFSC (Belize) โ Primary entity for international clients. Tier-3 offshore regulation.
How licences work and what offshore routing changes: Offshore Brokers: Jurisdiction Risk ยท How Regulated Brokers Scam Legally
Spreads & Execution
| Pair/Asset | Spread (Libertex) | Commission (Libertex) | Notes |
|---|---|---|---|
| EUR/USD | 0.0 pips | 0.03% of Trade Value | Fixed commission, no spread |
| GBP/USD | 0.0 pips | 0.05% of Trade Value | Fixed commission, no spread |
| XAU/USD (Gold) | 0.0 pips | 0.04% of Trade Value | Fixed commission, unique fee structure |
Libertex uses a zero-spread model, charging a fixed percentage commission on the trade value, making cost comparison difficult.
Execution Model and Quality
- Execution Model: Market Maker (Dealing Desk)
- Fill Reliability: Inconsistent execution speed and occasional requotes.
- Cost Calculation: Complex due to percentage-based commission on trade value.
Fills vary from trade to trade. Working out the real cost per lot takes study, because the commission model is unlike anyone else's.
What sits behind these execution numbers: Slippage and Latency ยท Anatomy of an Order ยท Trading terms glossary
Unique but Complex Commission Model
Libertex's zero-spread, percentage-commission model makes calculating the true trading cost difficult for the average user:
- Zero Spreads: Looks cheap, but the commission covers the cost.
- Percentage Commission: Fees follow the volume traded. The calculation is non-standard and opaque next to ECN flat-rate commissions.
This non-standard fee structure introduces uncertainty. The total cost often lands above a conventional spread-plus-commission ECN account.
Account Types & Fees
Raw-spread account
- Min deposit: $10
- Spreads: 0.0 pips
- Commission: Percentage-based (e.g., 0.03%)
- Best for: Beginners who prefer the simple proprietary platform.
Standard-type account
- Min deposit: $100
- Spreads: From 1.5 pips
- Commission: $0
- Best for: Traditional MT4/MT5 users.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Yes (Fees apply to e-wallets, e.g., 1% on Skrill, $1 on Neteller).
- Inactivity fee: $5/month after 180 days of inactivity.
- Swap rates: Standard overnight financing applies.
Deposits & Withdrawals (Tested)
There are many ways to pay in. Most of the common ways out cost you something:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | $0 | Broker covers fees. |
| Bank Wire | $500 | 3-5 business days | Varies | External fees apply. |
| Skrill/Neteller | $100 | Same day (4 hours) | Yes (1%-3%) | Fees commonly applied. |
How payout problems start at weaker brokers: Withdrawal Blocking Patterns
Platforms & Tools
- Libertex Platform: Proprietary web and mobile platform, known for its clean interface.
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
Our Take: you get their own app and MT4/MT5 as well, so the choice is yours.
Customer Support (Tested)
Support answers 24/5, in several languages:
- Live Chat: 24/5, responsiveness is slow/average.
- Quality: Customer service is functional but often refers complex inquiries to the ticketing system.
They handle simple questions. On anything harder they are slower and thinner than a tier-1 broker.
PROS
- Long operational history (since 1997).
- Unique zero-spread commission model (Libertex).
- Low minimum deposit ($10).
- MT4/MT5 support.
CONS
- The main licence is Tier-3, from the IFSC in Belize. That is a real risk.
- Commission is complex and often expensive (percentage-based).
- Most of the common ways to take money out cost you something.
- Execution consistency is problematic.
Who Is Forex Club For?
- Great fit: Traders who prioritize low minimum deposits and prefer the proprietary Libertex platform.
- Not ideal: Anyone prioritizing Tier-1 safety (FCA/ASIC), or any high-volume trader due to high, complex commissions.
Final Verdict
ForexClub operates primarily as Libertex, trading since 1997. Its commission structure is unusual: zero spread, percentage commission.
The commission structure is complex and often results in higher trading costs than simple raw-spread ECN accounts. Execution consistency is a concern.
The reliance on weak Tier-3 regulation (IFSC Belize) poses significant risk, placing this broker in the 'Below Average' category.
How this score is calculated: Our testing methodology
