ForexCT Review – What to expect from the broker

ForexCT is a Forex and CFD Broker that features on its trading platform CFDs on forex, stocks, indices, commodities, cryptocurrencies. ForexCT is a subsidiary company of AT Global Markets, a corporation that is regulated and overseen by the ASIC in Australia. The minimum spread is for EUR/USD 4.0 pips*, real trading is possible with the minimum deposit of $500. The ForexCT website is available in English only.

What do we cover in our ForexCT Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.ForexCT.com.au
  • Leverage: up to 1:400
  • Instruments: CFDs – Forex, stocks, indices, commodities, cryptocurrencies
  • Minimum deposit: $500
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Wire Transfer, Credit and debit cards (Visa/MasterCard/JCB)

ForexCT Trading Platform

For FX and CFD trading, ForexCT offers a trading platform called Web Profit. According to ForexCT, WebProfit  makes instantaneous trade executions. The broker gives acess to 174 tradable assets.

ForexCT Spreads

As any other CFD broker, ForexCT charges a spread fee. For the most current spread charges, please visit the ForexCT website. Here is a spread comparison table that contrasts ForexCT spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
ForexCT* 4.0 4.0 5.0 4.0
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Spreads recorded on 14.09.2019 at 12:56 GMT, spread charges were taken taken from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

ForexCT regulation

Forex Capital Trading Pty Ltd is registered with the Australian Securities & Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL) (#306400).

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce ForexCT.

ForexCT Pros
  • Guaranteed FX stop loss
ForexCT Cons
  • No MT4 or MT5

To sum up the ForexCT Review

ForexCT adheres to strict regulatory guidelines of the ASIC. The broker charges average spreads on most assets and features a free demo account for practise trading. Overall, the amount of available CFDs is decent. What I am, however, missing is the support of MT4 or MT5.

 

Your review can make a difference to other traders, please leave a comment if you have any personal experience with ForexCT.



Michael
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