Beginners guide to online broker ForexCT
If you haven’t heard of ForexCT already, there’s no doubt that you’ll hear about them in the future. They’ve been operating since 2006 so they’ve been in the industry for what seems like a lifetime. Created by trading professionals for traders, they’re an innovative, customer focused Forex and CFD online Forex and CFD provider.
Some quick facts about ForexCT:
They’re Melbourne based
They provide free stop losses on every trade
They have their own in-house trading platform, Web PROfit
They have educational resources for all levels of traders
You have access to trade over 170 assets in six classes
You receive quality news and analysis from Trading Central
They provide 24/5 customer service
Is ForexCT regulated?
Yes, ForexCT is regulated by ASIC (the Australian Securities Investment Commission) and is therefore compliant with industry regulations. ASIC is an independent body that regulates Australia’s corporate, markets and financial services industries.
This means that your investments have a level of protection; ASIC requires licensed companies to meet certain requirements and to comply with industry regulations. Customer’s funds must be kept in segregated trust accounts and can’t be used for hedging.
What type of trading you can do with ForexCT?
ForexCT offers its customers the option to trade in Foreign exchange (Forex) and CFD.
Forex traders predict the direction of the prices of currencies globally. Traders can either predict the movement of one currency, or a pair and trade on two different currencies to determine which currency will outperform the other.
Whereas a Contract for Difference (CFD) is a contract between the customer and the brokerage regarding the movement of prices of fast-moving global financial markets. Traders don’t own the asset, they just predict the direction the price will move, and make a profit if they choose the correct direction.
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.
Does ForexCT trade with cryptocurrency?
Yes, ForexCT customers have access to trade 5 crypto assets including Bitcoin, Dash, Ethereum, Litecoin and Ripple.
A cryptocurrency is a digital asset that works as a medium of exchange. It uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets.
To read more about the online broker, please click on the link below…