ForexCT Forex Broker Review
| Leverage | 1:200 |
| Minimum Deposit | $500 |
| Types of accounts | Beginner, Professional, Corporate |
| Broker Type | Market Maker |
| Deposit methods | Bank WIRE, Credit Card |
| Minimum Contract | 2,500 for beginner account and 100,000 for Professional account |
| Regulation | Australian Securities and Investment Commission |
| Trading Platform | MT4, Profit |
| Types of Orders | Market/Limit Orders |
| Instruments | Commodities, Currencies, Oil |
| Restrictions | No Restrictions |
ForexCT is an Australian based financial firm that prides itself on upholding the highest form of ethical behavior when engaging in business transactions in the forex markets. ForexCT, also known as Forex Capital Trading Ltd’s Australian subsidiary, Forex Capital Trading Pty Ltd, holds an Australian Financial Services License (License No. 306400). The Australian Securities and Investments Commission (ASIC) enforces the laws and regulations, which govern the provision of financial services. ForexCT currently has clients in over 100 countries as well as an extensive global network of affiliates who work with them. ForexCT’s mission is to provide our customers with an online trading experience which is superior to any of our competitors.
ForexCT offers four account options for trading in Forex to potential clients:
MINI accounts at ForexxCT require an initial deposit of $100, with dealing spreads of 5 pips, contract sizes of 2,500 and a maximum leverage of 1:200.
ForexCT GOLD accounts require an initial deposit of $1,000, with dealing spreads of 4 pips, contract sizes of 50,000 and a maximum leverage of 1:300.
ForexCT PLATINUM accounts require an initial deposit of $20,000, with dealing spreads of 3 pips, contract sizes of 100,000 and a maximum leverage of 1:400. VIP accounts require an initial deposit of $100,000 with dealing spreads of negotiable, contract sizes of 500,000 and a maximum leverage of 1:400.
ForexCT Trading Platform
ForexCT forex broker offers different types of forex trading platforms
Profit Platforms: ForexCT’s PROfit platform is downloadable and combines a highly secure environment with award-winning speed. PROfit allows clients to manage their portfolio in AUD or USD; make trading decisions with real-time execution; choose features, pairs and
tools they want to display and be on top of things with a revamped events calendar. PROfit customers can also trade on their iPhone/iPad.
MT4: ForexCT’s MT4 platform is a powerful and flexible way to manage your Forex trading and strategies. This downloadable platform provides a wide array of market analysis tools that can be used to gain insights into the patterns of the global Forex market. MT4 platform offers competitive fixed spreads; friendly and easy trading interface design; Guaranteed Stop Loss; Trailing Stop Loss and Fully Customizable layout.
For those clients who want access to the Forex market from any computer, anywhere in the world, ForexCT will launch MT4 Web Trader in mid 2011.
ForexCT uses a proprietary trading system that feeds real-time streaming prices to a trade system station. Prices are updated dynamically. They are not simply indications of where the market is trading, but actual executable prices that traders can use to buy or sell a currency pair.
Educational options available with all account types include an online training course, free Forex guidebook and a free 60-minute online tutorial. An extensive FAQ section covers almost anything one might care to know about ForexCT or the basics of Forex trading. Support of some kind appears to be available using a chat option. Technical support of the platform isn’t specifically referenced on the website.
Managing deposits and withdrawals at ForexCT
Deposits and withdrawals at ForexCT are processed via Credit cards and Bank WIRE Transfer.
Incentives
When you sign up to create an account with ForexCT, upon taking a survey when you sign up, you are able to get a $50 free forex bonus
Customer Support
ForexCT offers 24/7 customer support primarily in English and Mandarin over phone, email and chat.
Notes:
- 24 Hour Trading: Yes
- Order Type: Market Orders and Limit Order
- Scalping Policy: Trade must be open for 2 minutes (unless in loss where it can be closed out at any time)
- Instruments: FX, Oil, Commodities
Why trade forex with ForexCt
Whether you’re new to currency trading or already an experienced forex trader, ForexCT risk-free $100,000 demo account is an ideal way to get started at FOREXCT.com.au. Advanced trading tools, 24-hour customer support, and a secure online trading experience are all part of ForexCT’s commitment to offer more services and features to the individual investors. Demo account is designed to mirror the live account in all aspects: real-time charts and quotes, access to daily outlooks, news feeds and economic indicators, live chat and one-on-one training with personal Account Service Manager.
3 Comments
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melApr 19, 2011 at 12:47
I have just started a relationship with forexct. I have found the experience very inadequate to say the least. I have never dealt with a platform before and the startup information leaves alot to be desired. I have only traded 3 times, the first time I unwittingly pushed the wrong button and started a trade which I did not want. I spoke to the manager and the answer was quite simply. You pressed the button its your problem. The supposed 24/7chat and customer contact is non existant. I am convinced this company are only interested in the short term relationship. I will not be dealing with them again that is forsure.
adminApr 19, 2011 at 12:56Author
Thanks for your comments Mel. It has been passed on to the ForexCT team and someone will be replying to your comment to address the issues you have faced.
Forex Broker ReviewerMar 12, 2011 at 03:28
ForexCT is indeed a good forex broker. They have a independent trader rating of 7.46 (out of 10) at bestonlineforexbrokers.com and is on their “Best Forex Brokers” list which is like the top ten out of more than 400 forex brokers on the site.