Do not invest more money than you can afford to lose.
Forex Club, a forex and contracts for difference (CFDs) brokerage group, reported on Friday in January 2017 full 27% of its clients closed the month at a profit, while the success rate among traders with account balance of more than $10,000 was 57%.
Overall, the majority of traders (73%), regardless of the amount of their account balance, closed January with a profit or loss of no more than $100.
Last month’s largest profit generated by a single Forex Club client amounted to $132,000 and was the result of trading in oil, the Japanese yen (JPY), and the British pound (GBP).
Meanwhile, the highest loss was $183,000 and was due to an old trade in the Japanese yen (JPY) to the Australian dollar (AUD) that the trader closed in January.
Forex Club is a collective brand of several entities that provide trading in forex and contracts for difference (CFDs) on shares, metals, indices, and other instruments. The brokerage has clients in more than 120 countries. In Russia, Forex Club was the second largest retail forex broker in 2015 with monthly trading volume of an average $54 billion in 2015 and about 80,000 active clients, according to an annual report of Interfax-Center for Economic Analysis (Interfax-CEA).
Forex Club aims to expand its presence within the Commonwealth of Independent States (CIS), or the former Soviet countries. Through its subsidiary Financial Company Forex Club, the group recently became one of the first entities to obtain a status as a registered forex broker in Belarus (the equivalent of obtaining an authorization). It was, however, denied license in Russia without explanation. The brokerage’s Russian arm is a founding member of CRFIN, a Russian self-regulatory organization (SRO).
