ForexCT Broker Review: Giving New Traders a Special Treatment
Trading proves to be one of the best ways to invest your money and increase it fast. However, your successful trading career depends a lot on your broker. As a new trader, you want your broker to provide you with honest trading services while also helping you with all the knowledge you need to turn into a professional trader with time. Now, ForexCT has emerged as a broker with a lot of features focused on making the lives of the new traders easy. So, how does this broker do it? How does it design its features so well that new traders start preferring it over other hundreds of online brokers? Let’s find out.
ForexCT – An ASIC Regulated Australian Broker
When you sign up with an online broker, the first thing you have to pay attention to is regulation. Regulation is not something that you can ignore just like that. For online broker, this is the most important thing to win the trust of the traders. As a trader, you are signing up with a company that might not be located in your country. At the same time, you are agreeing to put your hard earned cash in an account with this company. You don’t want this broker to be some fraud who disappears after some days, leaving you with nothing but regret.
There is no way for you to get a guaranty that the broker you are signing up with is honest other than proper regulation. ASIC remains one of the most renowned authorities regulating online brokers that provide a platform for CFD trading. Australian Securities and Investments Commission regulates ForexCT to ensure that the broker is operating with all the safety and security features in place. Traders can feel safe with their money with the broker because of this regulation. They know there is a renowned authority that’s taking care of their interests by constantly monitoring and auditing the online broker.
You have to keep in mind that ForexCT is a regulated CFD broker. A CFD broker is one that provides you with a trading platform to trade CFDs. Contracts for Difference are derivative contracts wherein you don’t buy or sell the actual stock. However, you can trade ETFs on the same platform if you are interested in trading indices. You can trade the contracts of your favorite indices and stocks right from the same trading platform once you have an account with this ASIC regulated broker.
Further Safety of Traders with ForexCT
If you have signed up with the right broker, you will rest assured that your money and information is being taken care of according to the highest standards of the industry. That’s the kind of peace of mind you get when you sign up with ForexCT. The first point of concern for the trader is when they are providing their personal information on the website while signing up. This personal information includes their identification information as well as their bank account details depending on the way they decide to deposit money in the account. The only way for a broker to protect this information is through encryption.
You should be glad as a trader that the broker encrypts your information according to the highest security standards to protect it from any unauthorized access on the internet. As soon as you provide your personal information on the website, you know it is being encrypted and protected from any unwarranted access. Once you are relaxed from the information side, you have to worry about the money you will deposit in your account. Yet again, the broker has taken the necessary measures to bring you the peace of mind. ForexCT clearly states on its website that the money you deposit in your account is maintained in a separate account.
What that means is that your money is not mixed with the money of the broker because if that happens, you can say goodbye to your money. The broker will use your money in the market for its gains without you knowing about it. The money in the segregated accounts belongs to you only. Since it is in a different account, the broker has no right to use it for its personal trading activities. You will find it clearly on the website that the broker will not use your money for hedging purposes either. Hedging is when the broker will put money in a trade that counters your trade so there is no loss to the broker in the end.
You can know the intentions of the brokers from many different things. For example, many brokers will not let you use the stop loss feature on your trades. Stop loss, as the name suggests, is a feature that helps you minimize your losses. If you have entered in a trade and the market starts to move against your prediction, you have no way to stop the loss from incurring. The farther the market moves from your predicted position/direction, the more money you will lose in the end. However, you can put a limit on how much money you will lose through the stop loss feature. Using this feature, you can put limit on where your loss will stop even if the market moves further in the opposite direction.
When you sign up with forexCT, you will enjoy this benefit. In fact, the best thing about ForexCT is that you can use the stop loss feature on every single trade that you execute from your account. It is not as though the broker provides you with this amazing feature on only certain trade types. In short, the broker has deployed many ways to help its traders save money when they trade on its trading platform.
The Asset Index and the Trading Conditions with ForexCT
When you sign up with a broker, you have to look at how freely you can trade on its trading platform. Your freedom of trading depends on two important factors: the asset index and the trading conditions. ForexCT will give you a pleasant surprise in both these areas. The broker is fully aware of what the traders need to start their trading career and hence has the best features for them. When you look at the asset index from the broker, you will find just about any asset that you can think of on it. You have stocks from the biggest companies of the world from a variety of financial markets available at your fingertips in the form of CFDs.
When you trade these stocks in the form of CFDs, you can enjoy some big leverages as well. However, you have some of the best commodities in your access when you sign up with ForexCT. These commodities include a lot of different types of assets. For example, if you like to trade soft commodities, you have the option to trade assets like sugar, coffee, corn, cotton, and many others. At the same time, you have Brent, natural gas, crude oil, etc. on the list as well. There are quite a few precious metals available for trading whereas you usually only have silver and gold available for trading with other brokers.
With ForexCT, you can trade gold, silver, copper, palladium, platinum, nickel, and even aluminum. If you don’t like trading singled out assets, you can trade some of the world’s biggest indices as well. Some of the big indices available for you to trade include NASDAQ, ASX200, FTSE, IBEX, etc. So, there is no dearth of assets that you can trade with this broker. If you are interested in diversifying your portfolio as a trader, you have the perfect opportunity to do that with ForexCT.
You can trade all the major and minor currency pairs on the forex market with this broker. The major currency pairs are usually less volatile and thus incite you to safe trading. On the other hand, the rare currency pairs offer a lot of volatility and hence huge opportunities for you to make big profits on your trades.
One of the biggest additions that ForexCT has made to its asset index is of cryptocurrencies. Yes, if you have ever wanted to trade cryptocurrencies, you will not have to go far. You have five different digital coins that you can trade on the ForexCT trading platform. These five cryptocurrencies are ripple, litecoin, ethereum, bitcoin, and dash. In most other cases, you only have access to bitcoin. Alternatively, the big brokers will give you access to ethereum as the second biggest cryptocurrency in the market. It is amazing that you are getting access to five of the most valuable digital coins from the cryptocurrency market once you are with ForexCT.
Now, the second important factor you have to look at is the trading conditions that broker is willing to produce for its traders. Mostly, the new traders are happy with the way this broker has kept things. You have huge leverages available on your trades. Leverage is what new traders want because they want to grow their money as a fast rate. Of course, there are risks involved in using leverage on trades but the growth is extremely slow until you start using this option that’s available to you on all your trades with this broker. The biggest leverages are available to you when you trade forex currency pairs.
When trading currency pairs on the ForexCT trading platform, you are going to get some of the biggest leverages available from any broker on the internet. You can enjoy leverages of up to 1:400 when trading currency pairs. The most important thing is that you have this leverage available no matter which currency pair you want to trade. You can enjoy leverages of 1:200 when trading indices from various financial markets. The same huge leverage is available when you trade the precious metals with this broker. In short, you will not be disappointed from the leverage side when you sign up with ForexCT.
Not to mention, you have the stop loss feature available on all your trades. When you think you are taking a big risk on a trade, you can use this feature to put a limit on the amount of loss that you will incur. And when it comes to how much you will be able to make on your trades, you have to look at the size of the spread on your trades. The tighter the spread, the more money you will take home when you are in a successful trade. There is no doubt that you will be able to trade with some of the tightest spreads when trading with ForexCT. Do keep in mind that the spreads will vary based on the type of asset you pick from the asset index.
The ForexCT Trading Platforms
Now that you are sure about the trading conditions and the assets that you can trade with the broker, you have to look at the trading platform that you will be using. The type of trading platform that you use for trading matters a lot because your entire experience of trading depends on it. If the platform has problems, your trading experience will be a poor one. However, you can rest assured that the trading platform you will be given access to with ForexCT is one of the best in the industry.
The first point of concern for traders when they have to choose their trading platform is how fast their orders can be executed. You don’t want to see that you ended up with a loss just because the trade you entered delayed and the trading conditions had changed by the time your order was executed. With Web Profit, the trading platform you will be using with the broker, you can execute your orders instantaneously. At the same time, there is 24/7 support available to you on the platform so you have someone to assist you with any issues that arise during your trading.
Of course, you already know about the trading conditions that you can enjoy on this platform. The stop loss feature is there for you to control your losses. You can enjoy tightest fixed spreads while trading any asset from the asset index. In addition to that, you have the most basic and the most professional chart analyses available for you to know as much as you want about the trade that you are about to enter. The best thing is that you can get this platform on your smartphone and other portable devices as well.
If you like the idea of trading on the go, you can download and install the trading platform on your tablet or smartphone. It does not matter whether you have an iPhone or an Android phone because the platform will run smoothly on both. What’s even more important is that you don’t lose the important trading tools and features when you use the platform on your mobile device. It is still a complete experience with every tool available to you to help you execute more successful trades. If you are lucky enough while joining the broker, you might as well end up getting a huge $5000 credit on your first deposit in the account.
ForexCT Deposit Options for Traders
The broker has done all that’s in its access to bring the best deposit options to the traders. When you sign up with ForexCT, you can deposit money in your account using multiple methods. If you like to use credit cards, you can use JCB, MasterCard, and Visa cards to deposit funds in your account. When depositing money in your account using the credit card option, you can even deposit as little as $500 in your account. The other method is the bank wire transfer. It can take some days to transfer money with this method but it is one of the safest methods of depositing funds in your account without a doubt.
Of course, since it is an Australian broker, it has to give some options specifically to Australians. If you have an account in Australia, you can use the BPay option as well. However, if you have overseas bank account, you still have the ITT option available to you for depositing money in your account. All the details about these options are available on the website of the broker.
ForexCT Trading Education
This is an area where ForexCT goes the extra mile and leaves all the other online brokers behind. The trading education that you can get from this broker is unmatched by any other broker on the internet. You have just about all the options that you can think of available to learn trading with this broker when you join its platform. If you like to read ebooks so you can learn slowly but effectively, you have plenty of ebooks written on basic trading and the most advanced trading strategies. If you have just started trading but you want to learn things quickly, you have the video based learning option available.
The most amazing thing included in the training section of the broker is the webinars. When it comes to trading, there is nothing more educating than the webinars because you get to listen to the most experienced traders while attending them. They will talk to you live and even answer your questions that you might have about trading. This is the type of guidance that turns new traders into professional traders. Once you sign up with the broker, you will get access to these professional webinars that are conducted repeatedly to train you on everything about trading.
You will be glad to know that the broker has already segregated the different levels of training. You will not feel overwhelmed with information and jargon during training just because the training material you are reading is also for advanced learners. With ForexCT, you have different courses available for traders on different levels of trading. You have a different course to study if you are a new trader. On the other hand, there is a complete course for advanced traders that talks about all the advanced trading strategies that they have to learn to turn into professional traders.
Forex Workshops are also included in this section. In these workshops, you are able to get in touch with the most professional traders of the industry. The best thing is that you are able to talk to them in person and ask whatever questions you might have on your mind. Forex workshops are best in polishing your trading skills as they will teach you how to use the various trading tools to your advantage. From maximizing your profits to minimizing your losses on every trade, you will learn all that from the most seasoned players in the industry through these workshops.
ForexCT Customer Support
While everything is explained clearly on the website including the FAQs section, you might still need some help from the company professionals once you are a trader on the platform. You have multiple phone numbers that you can call to get help. There is a different number for Australians and for Chinese people. Anyone calling from other countries has access to an international number. There five different emails available to you for different types of complaints. The company is based in Australia and regulated by ASIC. When looking for help, you should know that the professionals are there to help you 24/5 with whatever concerns you might have.
You must have known a lot about ForexCT as an online broker and how it has made a big name for new traders from around the world. You can always start a demo account with this broker to know what the trading will look like. The peace of mind that you will have while trading with ForexCT is the most important thing. When comparing the many available online brokers for their features, do not overlook the fact that ForexCT is ASIC regulated. The best form of trading is safe trading, which is available to you when you sign up with this broker.