Review of ForexCT

Founded in 2006, ForexCT is a multi-service brokerage company with over 60 currency pairs, various CFDs and precious metals to trade on the popular MT4 platform.

ForexCT is a Forex Capital Trading Pty Ltd, a company based in Melbourne, which is licensed by the Australian Securities & Investments Commission (ASIC).

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ASIC requires licensed companies to meet specific requirements and comply with the different set of laws. Customers' money should be available in separate trust accounts.

The same as for the minimum capital requirement, Australian forex brokers, should have at least $ 1 million to be able to act legally. For comparison, the British FCA and Cypriot CySEC request brokers to have at least EUR 730,000 and EUR 1,000,000.

And unlike other European brokers (in Cyprus and the United Kingdom), no reimbursement scheme can enclose Australian companies. ASIC regulation and the supervision of Australian brokers are always careful about your safety. However, you should be aware of the risks that come with CFD exchange transactions and CFDs.

This broker offers two transaction platforms: a standard trading terminal, MetaTrader 4 and its PROfit system.

MT4 provides all the tools and functions required by the traders. That includes a range of technical indicators, an advanced chart package, a wide range of Expert Advisers (EA).  A comprehensive backtesting environment also comes with the package. By using EA, merchants can sit down while the software does all the work. Here, Expert Advisers allows full automation of transactions. In this broker, it is available in versions for computers and mobile devices.