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Gerchik&Co Review – is it scam or safe?

Gerchik&Co Review  – Is gerchikco.com scam or safe forex broker?

RATING: 2.5 / 1 REVIEWS ForexBrokerz Gerchik&Co
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 Trading accounts

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Mini $500 0.01 lots 1:100 0.3 pips+$10 per lot
Simple $1000 0.1 lots 1:100 0.0 pips+$10 per lot
Silver $10 000 0.1 lots 1:100 0.0 pips+$9 per lot
Gold $25 000 0.1 lots 1:100 0.0 pips+$8 per lot
Platinum $100 000 0.1 lots 1:100 0.0 pips+$7 per lot

 

 

Gerchik&Co is an STP forex broker that offers five types of live trading accounts: Mini, Simple, Silver, Gold and Platinum. All of them have the option for algo trading and give access to educational seminars and webinars. There is also a demo account.

 

It seems the broker also offers some type of managed accounts service – TIMA (Trusted Investments Management Account) – for investors and managers.

 

The Company. Security of Funds

 

 

Company Country Regulation
Gerchik&Co Belize IFSC

 

 

Gerchik&Co is actually a Russian forex and CFD broker established by traders Alex Gerchik and Ivan Kroshniy and mostly active in Russia and Ukraine. Even though it does not have a license from Russia's Central Bank, which acts as a regulator of the forex trading industry in the country, the broker continues to work in Russia. Similarly, other Russia-focused brokers like Alpari, also operated for quite a while with its other licenses and regulations, even though it eventually got a Russian license.

 

The company, however, is registered in the offshore zone Belize and is regulated by the country's watchdog, the International Financial Services Commission (IFSC). Belize is a popular offshore destination for forex brokers and has some sort of regulation, but not as strict as that in the UK or Australia.

 

Trading Platforms

 

Like the vast majority of forex brokers, Gerchik&Co provides MetaTrader 4 (MT4) as a trading platform, in all its versions for desktop, web and mobile devices.

 

MT4 is generally preferred by brokers and traders alike and has been enjoying big popularity since its launch more than 10 years ago. It is user friendly and supports trading in not just forex, but other assets like commodities and indices. The MT4 also provides a number of technical analysis and charting tools, Expert Advisors and other options.

 

Methods of payment

 

Gerchik&Co provides its clients with many options to make a deposit. The broker accepts account funding through bank transfer, credit and debit cards, the online payment services Skrill, OKPay, Qiwi, LavaPay, WalletOne, WebMoney, Epayments and Shilling. Clients can also make a deposit in Bitcoin, which is still a relatively rare option among brokers.

 

Conclusion

 

Gerchik&Co probably benefits from the fame of one of its founders – Alex Gerchik, who has somewhat of a superstar status among some Russian-speaking traders, and it is no accident that his name is prominently featured in the name of the company.

 

The trading conditions of the broker itself are not very favorable for the small-time traders, particularly the low leverage and the relatively high initial deposit, but we get the impression that the small traders are not the broker's main target anyway.

 

 

Pros Cons
MT4 Low leverage
Many account types High initial deposit

 

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Traders` reviews for Gerchik&Co

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