ForexCT Review

ForexCT is an Australian-based Forex broker that offers a unique trading experience for several reasons. The first thing we noticed was that this brokerage does not offer a free demo, but requires traders to pay $100 for the demo account. On its website ForexCT reviews this concept openly, and explains that only by trading with real money can traders get the full experience of their platform. An interesting concept, to be sure. The company’s beginner account requires $500 to open and it has a maximum leverage of 1:200 and spreads starting at 4 pips. Traders wishing to open an account at ForexCT with $5000 or more can enjoy spreads from 3 pips and leverage up to 1:400.

ForexCT is a market maker broker that offers few currency pairs to most traders and can offer a wider range of currency pairs (including some exotic pairs) to traders who are willing to deposit a substantial sum of money. Mini accounts micro accounts are available for new traders or those who want to test out ForexCT before making a larger deposit. 

Established in: 2006

Regulated by: ASIC

US trading: No

Languages: English, Chinese

Currency pairs offered: 9

ECN trading: No

Spreads: Fixed (from 3 pips)

Minimum deposit: $100 for demo account

Maximum leverage: 1:400

Minimum lot size: 2,500

Demo account: Yes, for a $100 fee

Beginner’s trading platform: ForexCT’s single platform is suitable for beginners

Platform: Web-based platform only

Mobile trading: Yes

Chat support: Yes

Scalping: No

Editor’s notes: The ForexCT website is quite easy to use, and we were impressed with the company’s claims of free wire transfer to traders with beginner and professional accounts. A limited number of available currency pairs means that advanced traders who enjoy trading exotic Forex pairs may want to investigate more diverse brokers such as 4XP. Nevertheless, there are plenty of reasons for new traders to try ForexCT, including their robust Forex education center, comprehensive Forex glossary, and intuitive trading platform that is suitable for novice Forex traders. We didn’t detect any ForexCT scams during our ForexCT review, though we did find the company’s chat service to be subpar. Our overall experience with ForexCT, however, was positive.