WhaleClub is a forex broker. Whale Club offers the Bitcoin-powered trading currency platforms. WhaleClub.co offers currency pairs, cryptocurrencies, commodities, indices, stocks, gold and silver for your personal investment and trading options.
Highly not recommend. In the past whaleclub has been a great and trusted firm. Whom had honor withdrawals and automatic deposits. In recently weeks things has changed, and when I had submited my last withdrawal this was not the case. After I submitted my issue I was banned from the platform permanently. They also removed chatroom and issue with selecting trading assets such as changing view on chart or selecting them is a major pain. Caution for all future user.
They pretend my position get liquidated as BTCUSD hit 3417 price but this never happen. I get an enty to 17088 price on 12 decemeber and the price hardly hit 10500 since then.
Here is the prrof:
I send them few mails about this but got no answer what so ever!
It's a scam, other people complain about this as well. Better to stay awey!
May 31, 2017,
Whaleclub is a gambling website posing as forex broker.
I was trading on whaleclub for sometime went thru periods of extreme volatility and observed how did it perform during that times.
Here is what I have to say,
If you are scalper and like in and out (under 1 hour) trading then during relatively quiet trading hours or at the beginning of growing volatility, Whaleclub is for you.
If you do hold your positions for long periods of time you may want to check "Markets" tab for current financing rates. They DO LOVE TO RIP YOU OFF during high volatility by widening spreads (sometimes enormously wide) I remember during initial Litecoin move from $4 to 7 overnight I opened preventive short position just to realize that spread is 60 (~10%) cents which led to instant -550$ drawdown.
Financing : normally BTC/USD sees 2% daily finance rate, charged hourly (1/24 of fin rate per hour) today, for example it is 6% which means that if you open 1BTC position at 20:1 leverage and hold it for 24 hours it will cost you $125.40 (at 2200$/BTC) think for yourself is it worth it or not. DASH/BTC fin rate TODAY is 12%(!) and during DASH skyrocket rise few month back I recorder absolute record of ....38%(!!!) of daily financial rate for DASH/BTC pair. If anyone can justify such rip off please do.
Trading during extreme high volatility. NOT POSSIBLE most of the times: platfor shuts down trading for preferrable direction. During Vinklewoss ETF denial I recorder complete shut down of trading for BTC/USD in EITHER direction .
Chat: Chat is probably most valuable asset of whaleclub I really do enjoy to use it and lately very useful feature of "whalebot" payouts every 15 minutes to most active chat participants in the amount ~15 cents per 15 min was a pleasant surprise.
HOWEVER: god forbid to criticize whaleclub in that chat on the reasonable grounds of everything I mentioned above: they will ban you right away. You can be rude, you can curse, yo can be offensive, that will not cause ban unless someone will file complaint in writing to customer support, but IF you criticize whaleclub OR highlight advantages of any other platform over whaleclub you will get banned instantly, trust me I know.
TURBO. Whaleclub has binary option service called TRurbo where you can bet on rise or fall of certain assets for ultrashort periods of time. Payout: 35-75% That's right 35% for BTC/USD pair (!!!) They justify it by extreme simplicity to predict which direction this particular pair will go. Whatever justification is it doesn't stop them to take 100% of your bet if you wrong. Just a little math here: to be profitable you have to be right at least 75% all the time for this pair...