ForexCT was founded in 2006 and is a leader in Forex and CFDs with clients from all over the world. Located in Melbourne, Australia, ForexCT is fully compliant and
regulated by ASIC. It prides itself in being committed to leading the industry in transparency, accountability, and business ethics. Forex Capital Trading Pty Ltd is regulated by ASIC, ABN, FSG,
PDS for CFDs and PDS for FX and Commodities.
ForexCT offers Forex and CFDs in indices, commodities and some metals. A CFD is an acronym for ‘Contract for Difference’ and is a type of derivative. The price of a
CFD is derived from the value of the underlying asset which can be from currencies, commodities, indices or shares.
A lot of traders opt to trade with CFDs rather than trading the underlying asset itself. This means that they never actually own the underlying asset, but instead
speculate or invest in the price movements. A CFD is a deal between two parties who agree to exchange funds based on the change in value (the difference) of the underlying asset between the point
at which the deal is opened and when the deal is closed. Forex is a type of CFD where traders are simultaneously buying one currency and selling another.
Traders who are opening an account at ForexCT must sign off on their Margin FX contract. This is an agreement to exchange the difference in the value of an
underlying instrument (i.e. a spot currency pair) between the time the Margin FX contract is opened and the time it is closed. It is a private contract between ForexCT and the trader.
At the time of this review ForexCT was offering a deposit bonus of up to $5000.
ForexCT believes that traders should never stop learning. Towards this effort, it offers traders a host of educational services. A free Forex trading course provides
beginners with the basics of Forex trading, such as leverage and how to use it efficiently, risk management and an introduction to chart analysis. All these are necessary skills for building a
solid understanding of Forex markets. The instructors at the trading school have years of experience under their belts and are eager to pass on to those that are just starting out.
In addition, the trading school presents classes for intermediate and advanced traders so they can move up to the next level of trading. These more experienced
traders can take advantage of lessons in advanced technical analysis, mirror trading, advanced risk management techniques and the psychology of trading.
Webinars are also offered at ForexCT. Four live English webinars and a live Chinese webinar are given each month and there is a long list of archived webinars which
account holders can access at any time. The free in-house workshops can benefit all levels of traders and attendance provides them with an opportunity to meet in person the team of professional
traders and analysts at ForexCT and have direct discussions with them on any topic they choose. The 10 video tutorials available for Forex traders who use the new PROfit account are instructive
as well as enjoyable.
Traders at ForexCT can also sign up for the Trading Central which is an industry-leading provider of technical analysis and investment research. At Trading Central
traders can explore award-winning daily financial insights from more than 100 leading global financial institutions in 30 countries.
The professional team at ForexCT also offers its account holders free in-house workshops for traders of all levels of experience on subjects ranging from risk
management, to technical and fundamental analysis. The ForexCT eBook is accessible to each new member upon registering for an account.
ForexCT places customer support at the top of its list of important features and its online Chat service representatives are available through the firm’s website.
Telephone support is available 9:00 am through 7:30 pm AEST, Monday to Friday and contact can be made directly from the ForexCT platform. Email support is also available.
There are not a lot of Forex brokers in Australia which offer the features available at ForexCT. As a full service brokerage company, ForexCT offers traders all the
necessary tools for easy FX and CFD trading. An account is easily set up and navigation on the website is quick and responsive.
Educated traders is an important goal at ForexCT and traders of all levels will find the instructive material interesting and beneficial.