ForexCT Review – is ForexCT Scam or Legit Broker?

ForexCT

3

Rating

3.0/5

Pros

  • full licensing and regulation with ASIC
  • wide range of currency pairs and CFDs
  • segregated accounts
  • demo trading platform with $100,000 in virtual funds

Cons

  • High minimum deposit of $500
  • No Bonuses
  • LiveChat is a virtual person, and unable to answer many queries

Overview/Background

ForexCT is an internet trading brokerage which has been created in 2006. It’s ideally suitable for CFD traders and Forex traders. It supplies traders 24/7 access into the marketplaces and tight spreads and no slippage. The business is fully compliant with all ASIC regulations and is owned and run by Forex Capital Trading PTY limited. The business ‘s permit is 306400 (Australian Financial Services License). Among the others, you can find lots of client security measures set up, for example full regulation and licensing by ASIC, ensured the safety of personal capital, segregated accounts, without any consumer cash employed for hedging purposes, and personalized account management. ForexCT offers traders two kinds of platforms including Profit and MT4.

Account Types

There are just two kinds of accounts in ForexCT. These Add a Live Account and also a Free Demo Account. To obtain enrolled, only click on the signup button and fill out the necessary information from the boxes. The deposit to get a live account is 500. Dealing stinks include two pips and also the contract size in 10,000. The highest leverage of 1:400 is acquired. Additional profits of these live accounts comprise free daily store accounts, free internet tutorial, free Forex e-book, totally free internet trading program and also ensured Forex stop-losses. If it has to do with the demo accounts, the deposit amount is $100,000 in virtual money, and coping spreads are out of two pips. The contract size is different from 10,000 and also a Max leverage of 1:400 is acquired. With the demonstration accounts, the sole additional profit you obtain is ensured FX stop-losses. Once you’ve completed the registration, then you must verify your information.

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Trading Platform/Software

From the toolbar on very top of the web page, you are going to realize the programs tab. After you click, you can find two strategies available including Profit and MT4. The Profit Platform is tailored to CFD traders and Forex traders. It’s totally suitable for Android tablets and smartphones and iOS tablets and smartphones. There are two subcategories inside the Profit Platform – Web Profit and Desktop Profit. One of the countless profits of employing this trading platform include 1-click trading using immediate trade executions, ensured stop-loss orders for silver, gold, gold, and money pairs, along with 24/7 tech support team. The cell edition of the software program may make it simple for one to trade on the move if you’re in an Android smartphone/tablet, or even an iOS apparatus. Whenever you register for a fresh account online trading platform, then ForexCT provides a $5,000 charge to brand new traders.

The currency trading platform is currently MT4. This is the entire world ‘s premier money pairs trading platform also it’s been tailored into your ForexCT brokerage. Together with MT4, you can find lots of profits accessible to traders. These range from the chance to trade commodities, money pairs, and contracts for difference and indices. Additionally, there is a vast selection of trading applications including technical investigation, indicators and monitoring stop orders. Fully guaranteed to prevent losses is found FX, for example adjusted spreads and aid from 30 languages. The MT4 program might be downloaded at the click of a single button. It’s also readily available to on-the-go traders, from iOS or even Android format. Together with MT4, it’s likely to carry out split-second trading decisions and utilize complex technical investigation.

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Deposit Options

The assortment of deposit options comprises bank cards and bank cards, including EFT and national bank transfer, BPay and international telegraphic transport options. The debit or credit cards consist of JCB, Visa and MasterCard. The minimum account deposit is $500 and a maximum deposit of $10,000 is permitted each deal. The national bank transfer option takes capital in USD, and also the capital is normally accessible within 2 – 3 business days. Customers using Australian bank account may utilize the BPay option to move money with their own ForexCT account. For international telegraphic transfers, 3 or 2 business days need for capital to clean and represent on your ForexCT account. The broker doesn’t charge some fees for withdrawals or deposits. With no third-party obligations have been accepted.

Markets

The principal marketplaces are both Forex and CFD trading. These products are on the ForexCT stage:

Forex: AUD/CAD, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, EUR/CAD, EUR/JPY, EUR/USD, GBP/CAD, GBP/JPY, NZD/CAD.

CFDs: DAX, CAC40, ASX 200, Dow Jones, FTSE 100, Hang Seng, MIB 40, NASDAQ, Nikkei 225, S&P 500 indicator, USD index basket.

CFDs – soft products, gas, petroleum and gold and silver, aluminum, Brent crude oil, coffee, gas, corn, cotton, primitive jojoba petroleum, heating oil, lead, propane, palladium, platinum, sugar, calcium, wheatgerm and heating.

Bonuses

New traders have been agreeing to some 5,000 sign up bonus, also together with a number of other promotional supplies in tow. By way of instance, we researched the bonuses that were available on this site and discovered we now have 4 distinct kinds of reports available on the ForexCT platform. Once you produce a minimum deposit of $100 to the miniature account, you’re credited with a $50 bonus, even whenever you produce a minimum deposit of $1000 in the golden accounts, you’re credited with a $100 bonus, when you earn a minimum deposit $500 in the platinum accounts, you’ll get a $200 welcome bonus 10percent on deposit. The VIP accounts usually requires a minimum deposit of $20,000, and also your charge bonus is at the mercy of your private phone with all the VIP administration.

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Customer Support

There are multiple service options to traders involving telephone numbers to the Australian workplace, Chinese table and also the global number. For customer assistance, the current email is the following: [emailprotected]. Technical support questions could be made to another address: [emailprotected]. The postal address is currently in Melbourne, Victoria Australia.

Safety

Safety is important in this CFD brokerage. To begin with, all client funds are retained in segregated accounts using the National Australia Bank. This makes certain your finances are safe in the event the business goes into liquidation. In terms of that FX trading platform, it really is as safe as houses. MT4 and the proprietary application – PROfit – are specifically built with maximum trader security and safety in your mind. This brokerage is governed by the Australian Securities & Investments Commission, with the permit number 306400.

Ease-Of-Use

It’s simple to browse your way about that CFD brokerage. The single facet which has been somewhat confusing was that the selection of bonuses out there. Fortunately, you may utilize the demo trading accounts with a free $100,000 in virtual money. Additionally, it doesn’t include all of the available features of the live account, but it’s a good way to obtain your feet wet in the financial marketplaces.

Final Thoughts

ForexCT offers quality CFD trading on 2 distinct platforms: PROfit and MT4. These are available on mobile and PC. A wide range of tradable shares is available, with generous leverage and competitive spreads.