BrokAIr Reviews

Forexct Review

"Forexct is a brokerage that is known for low commissions, but their customer service leaves a lot to be desired. Is Forexct really worth the money?"

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Forexct Overview

About Forexct

Forexct is a Forex and CFD trading platform, offering clients the opportunity to trade in currencies, commodities, indices, stocks and shares. Founded in 2007, the company is headquartered in Melbourne, Australia, and is regulated by the Australian Securities & Investment Commission (ASIC). Forexct offers a wide range of tools and resources for traders, including an online trading platform, mobile apps for iOS and Android devices, educational material and market analysis.

Pros & Cons of Trading with Forexct



Founders of Forexct

Forexct was founded in 2007 by Daniel Platz and Michael Clements. The two founders have extensive experience in the financial services industry, having previously worked as traders at several major banks. Platz has a Bachelor of Business degree from the University of Melbourne, while Clements has a Bachelor of Science in Finance from Monash University. The two have been instrumental in building Forexct into one of Australia’s leading online trading platforms.

Public Opinion on Forexct

Forexct is generally well-regarded by its customers. The platform’s user-friendly interface, comprehensive educational materials and competitive spreads have all been praised by customers. However, some customers have complained about the lack of promotions being offered to new traders and the higher-than-average spreads for some FX pairs. Overall, however, most customers are satisfied with their experience on the platform.

Newsworthy Events Around Forexct

In recent years, Forexct has made headlines with its acquisitions of smaller brokerage firms. In 2019, the company acquired eToro Australia to expand its presence in the country. This was followed by another acquisition in 2020 when it acquired TradeToolsFX to further expand its trading services. Additionally, Forexct has partnered with several major banks around the world to offer additional services to its clients. In 2021, the company launched a demo trading account for its customers to practice their trades without risking real money. The company has also released several new versions of its online trading platform with additional features and tools for traders.