ForexCT Review 2019 | Is ForexCT a Scam or Legit Forex Broker?

Read our ForexCT review to find out if ForexCT is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.0/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
20% Complete (danger)
1.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
ForexCT
ForexCT Overview

ForexCT is an Australian fixed spread broker that offers Forex and CFDs for trading over the internet. With a minimum deposit of $500, a maximum leverage of 1:400 and dealing spreads starting at 2 pips.

# Broker's Features FOREXCT Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review ForexCT.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. ForexCT offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Crypto, Futures.

Tradable Products: 84 CFDs, 12 commodities, 5 crypto assets, 7 metals, 11 indices and 55 currency pairs are available for trading on the Web PROfit and Mobile PROfit trading platforms provided by ForexCT .

Broker Type: Many types of brokers can be found in the most dynamic market in the world. ForexCT is Market Maker.

Features: Trading central news, daily analysis and commentary is provided to clients at no extra cost.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. ForexCT recommended minimum capital is $500.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. ForexCT is regulated by ASIC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: ForexCT is regulated by the ASIC, that means placement of clients’ funds in segregated trust accounts is a requirement. SSL protocols are also in place and every customer is identified using KYC methodology.

Languages Available: Next lets have a look at each broker's different Language options. ForexCT offers English.

Payment methods: Next lets have a look at each broker's payment options. ForexCT offers Credit Card, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Credit/debit card, Bank Transfers, and BPay payment options are the forms of payment accepted by ForexCT.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, ForexCT makes PROfit available to clients.

Web & Desktop Trading Platforms: The Web PROfit is the only platform provided. The platform is web based and loaded with tools for technical and fundamental analysis to aid the traders in their daily tasks.
Mobile Trading Platforms: The mobile PROfit app is developed for the Android and iOS devices. It is stacked with important tools for trading and analysis.

Other

Trader Education
A Forex eBook is provided on request after registration. Forex trading courses are on the website. Video tutorials are available on the trading platform.

Promotions
ForexCT brokerage does not offer any bonuses or promotions to its clients due to its regulated nature.

Support
The Customer support desk is always there to assist anyone with inquiries, client or prospect alike. The team works 24hrs a day from Monday to Friday. The support assistants can be reached on phone, email, chat and social media.

Recup
ForexCT is an experienced broker that has been in operation for a very long time. The brand is regulated by the ASIC which is a reputable regulator known around the world. The broker offers over 170 assets that can be traded on the PROfit platforms available on the web and mobile.

Final Thoughts
The PROfit has tools used by traders for technical and fundamental analysis. News and analysis are provided by ‘Trading Central’ and some other sources like investing.com.

Trading Experience
ForexCT brokerage services would be very suitable for a beginner trader or an intermediate-level trader who can perform rudimentary technical and fundamental analysis.

People Also Asked

Is ForexCT regulated?
Yes, ForexCT is regulated by top-tier regulators, ASIC inclusive.
Where is ForexCT based?
ForexCT is based in Australia
How does ForexCT make money?
ForexCT charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in ForexCT account?
With ForexCT you can deposit money via the following means; Credit Card, Wire Transfer.
How do I withdrawal in ForexCT account?
ForexCT lets you request a withdrawal of funds from your account via the following means; Credit Card, Wire Transfer.
What is the minimum deposit for ForexCT?
ForexCT has $500 minimum deposit.
What are the available account base currencies with ForexCT?
ForexCT trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in ForexCT?
ForexCT has a maximum leverage is 1:400 for professional traders.
How do I open an account with ForexCT?
Opening an account with ForexCT is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does ForexCT use MetaTrader?
ForexCT platforms: No, ForexCT do not use MetaTrader but it uses the following platforms: PROfit
What type of broker is ForexCT?
ForexCT appears to be a Market Maker broker which offers market access to a variety of traders.
Does ForexCT accept US clients?
No
Does ForexCT offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with ForexCT: You can trade a wide variety of instruments with ForexCT: Currencies, Commodities, Indices, Stocks, Crypto, Futures