History and Founding
Gerchik & Co was set up in 2015 by Alexander Gerchik, a successful trader and market educator. The company is focused on delivering high-quality brokerage services with the goal of educating and aiding the trading community.
Mission and Vision
The goal of Gerchik & Co is to enlighten users on business principles and assist them in gaining good financiers due to a superior, open, and efficient trading environment. The aim of the vision, in fact, is to be that of the financial industry: to emphasize trust and customer satisfaction.
Global Presence
Gerchik & Co is headquartered in Belize and collaborates with individual traders from around the globe, focusing more on involving countries of the CIS. It aims to become more of a "home" for its clients by working with various languages, particularly Indo-European languages.
Advantages and Disadvantages
Advantages
- More than 360 trading instruments
- Permission to use expert advisors and other tools for technical analysis and trade automation
- High order execution and market operation speed, achieved through collaboration with 15 liquidity providers
Areas for Improvement
- Small leverage — 1:100
- Many quotes provided by the broker are inaccurate
- Strict user conditions in the Terms of Agreement
Security and Regulations
Licenses Held
Gerchik & Co operates under the regulatory authority of the International Financial Services Commission (IFSC) in Belize, securing compliance through adherence to international norms of client fund segregation and transparency.
Client Fund Segregation and Insurance
The funds from clients must be remitted to segregated accounts, held by renowned banks, ensuring a secure and transparent process during transactions.
Tradable Instruments
Currency Pairs
Generally, over 50 major, minor, and exotic currency pairs can be traded with competitive spreads and high liquidity in the market.
Commodities
Trade gold, silver, and crude oil.
Indices
Trade CFDs of major indices worldwide, like the NASDAQ, S&P 500, and FTSE 100.
Cryptocurrencies
This broker trades popular cryptocurrencies such as Bitcoin.
Account Types
Zero
| Minimum deposit | 0 |
|---|---|
| Commission | 1.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Mini
| Minimum deposit | 0 |
|---|---|
| Commission | 0.4 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Simple
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Silver
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Gold
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Platinum
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:100 |
| Margin call level | 100 |
| Stop-out level | 50 |
Charges
Spreads and Commissions
Spreads start from 1.2 pips on Standard accounts, decreasing to 0.0 pips for ECN accounts, with a $4 cost per trade on Pro accounts.
Swap Rates
Typically, there are overnight charges for maintaining a trading position overnight, but Islamic swaps are available upon request from interested parties.
Fees for Inactivity
Brokerage firms may charge a fee for inactivity on accounts, as defined in their terms and conditions for trading.
Trading Platforms
| Available tools | CFDs, Forex, ETFs, Futures, Stocks, Indices, Metals, Energy |
|---|---|
| CFD | Forex: 85 Indices: 13 Metals: 6 Energy: 2 Futures: 2 Stocks: 345 |
MetaTrader 4
Gerchik & Co supports MetaTrader 4, which has a proficient charting system based on many indicators and offers automated trades through expert advisors.
Mobile Trading Apps
Using MT4 mobile apps on Android and iOS, clients can track markets and outcomes with ease.
Customer Support
Registration Process
You can register via the Broker Website; it will only take a minute as the process is very simple. Fill in the registration form, and then you will be asked to upload your identification papers and address proof.
Verification Requirements
This is accomplished by providing an ID (like a passport or any government-issued ID) and proof of address (either a utility bill or bank statement) as per regulatory practices.
Deposit and Withdrawal
Methods of Payment Accepted
The payment methods at Gerchik & Co are varied, including bank transfers, credit cards, and popular e-wallets such as Skrill, Neteller, and PayPal.
Processing Times
Normally, deposits are processed within 1 to 3 working days.
Corresponding Fees
Most deposits are free of charge. However, withdrawal fees may be higher than those of some competitors. Further information regarding this can be found within the trading conditions on the broker's site.
FAQ
Is this company regulated?
Yes, Gerchik & Co operates under the International Financial Services Commission (IFSC) in Belize, maintaining international standards for client accounts.
Which trading platforms are available?
Gerchik & Co offers the MetaTrader 4 application on Windows, iOS, and Android devices.
How much money is required to open an account?
A minimum of $100 is required for the Standard Account.
Does it provide various types of accounts?
They offer Standard, Pro, ECN accounts, and a demo account to ensure client satisfaction with services.
What are fees and commissions imposed?
These include spreads, commissions on Pro and ECN Accounts, swap rates for overnight positions, and inactivity fees on accounts.
What is the highest leverage they provide?
The available leverage amounts to as much as 1:500 for experienced traders depending on the account type and trade instrument.
Do they provide demo accounts?
Yes, demo accounts offering virtual funds for practice and development are available.
How do you get in touch with customer support?
Customer service is available via live chat, e-mail, and phone during business hours. Multilingual assistance is provided.