How efficient is ForexCT as an Online Broker?
- Written by News Company
ForexCT is a Melbourne based Forex Forex and CFD provider that provides online Forex and CFD trading services. Trading since 2006, the business was created by traders for traders. They have a strong focus on providing their customers with uninterrupted market access through their secure online trading platform. So, how efficient is ForexCT as an online Forex and CFD provider in a market where seconds count?
Financial services offered by ForexCT
ForexCT provides online trading services for both Forex and CFD. Contract for Difference (CFD) is a contract between the customer and the broker regarding the rise or fall of prices of fast-moving global financial markets. Traders don’t own the asset, they just forecast the direction the price will move, and profit if they choose the correct direction.
While with Foreign exchange (Forex), traders predict the direction of the prices of currencies around the world. Traders can either predict the movement of one currency, or make a pair trade on two different currencies to determine which currency will out rise the other.
The asset classes and the instruments provided by ForexCT that are available for trading on their online platforms include: 84 CFDs, 12 commodities, 5 crypto assets, 7 metals, 11 indices and 55 currency pairs.
Advantages of ForexCT
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ASIC regulated
ForexCT is a regulated broker, being regulated by ASIC (the Australian Securities Investment Commission) and holds an Australian Financial Services License. ASIC is an independent Commonwealth Government body that’s responsible for the regulation and enforcement of Australia’s corporate, markets and financial services laws.
ASIC has adopted global standards of Forex broker regulation with ASIC regulated Forex brokers being required to hold at least $1 million in operating capital. They’re required to work with tier-1 banks to keep their clients’ funds segregated in trust accounts, so they’re never used to hedge ForexCT’s proprietary positions. Client funds are also protected in the event of broker insolvency thanks to ASIC’s investor compensation scheme.
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Practical educational resources
Providing tools to their customers is a key focus for ForexCT; they identified a lack of educational resources for customers in the market. There’s a plethora of educational resources available to customers for them to build their trading knowledge and skills. From webinars, and video tutorials to eBooks and workshops, whatever your level, there’s a resource for you.
ForexCT has shown its commitment to supporting its customers through these tools; they’re detailed and practical, allowing customers to put their learnings into practice.
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Commission-free trading with fixed spreads
Fixed spreads mean greater control over your trading; they stay constant and aren’t affected by market volatility. If you’re a rookie trader, then commission-free trading with fixed spreads will make your life that much easier. While the trades are slightly more expensive, you have greater control over transaction and trade costs.
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Free Guaranteed Stop Losses
ForexCT offers free stop losses on every trade in order to provide yet another option for their customers to easily manage their risk. They’re an effective risk management tool for traders who don’t like taking large risks; it helps protect trades from market gapping or currency volatility. If you’re a risk adverse trader, you can trade with more certainty and make smarter decisions to protect your trades.
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Leading trading platform
As a ForexCT customer, you get the benefit of using Forex CT’s in-house platform, Web PROfit. It offers various trading tools, news feeds and customer support resources that allows traders to trade anytime and from anywhere.
It has a customisable layout, various types of charts, technical indicators and drawing tools, the order processing section has risk management tools like Stop Loss and Take profit, and so much more.
The platform allows for instantaneous trade executions so Forex brokers can enter and exit positions with just one click. It’s available on desktop and mobile so you can trade on the go without having to leave the platform.
Conclusion
While the Forex market is extremely volatile and therefore risky in nature, ForexCT has taken steps to ensure that their customers have all the tools they need for smart trading. Their focus on educational trading resources encourages their customers to build their trading knowledge and skills, so they don’t leave anything to chance.
As a ForexCT customer, you are backed by a broker that works diligently to ensure that you have an uninterrupted trading experience, as well as ensuring that you are well equipped with all of the resources you need for smart trading.
When it comes to efficiency, they’re working hard to improve their processes and systems so you ultimately have a great trading experience. Where seconds count, ForexCT is doing everything they can to make sure you’re ahead of the game.
