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ForexCT.com.au (Forex Capital Trading) Review Visit site

Updated: Oct 18, 2018
2.479 · 22 REVIEWS
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CAUTION:  There is an FPA Traders Court case guilty verdict against Forex CT.  The FPA recommends caution dealing with this company unless this issue can be resolved.

We are told that if you are in Australia, your account should be at the .com.au website.  If you are outside of Australia, your account should be at the .com website.

This branch of ForexCT is regulated by ASIC.

Another branch of this company is at ForexCT.com

Forex Capital Trading is an online forex broker. Forex Capital Trading offers the Forex Capital Trading Platform forex trading platform. ForexCT.com.au offers over 10 currency pairs for your personal investment and trading options.

ForexCT.com.au (Forex Capital Trading)

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  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
2014-0722014-04-14Chris To vs Forexct.com.auguilty

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2.479 · 22 REVIEWS
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Pete,
NSW, Australia,
Sep 13, 2018,
Guest

Account Inactivity Feee

I haven't dealt with Forexct for about a decade. Over the years, they have occasionally contacted me by phone, and I have clearly informed their salesman that I wished to cancel my account.
Today, I received an email from them notifying me that they were going to charge me with an "Account Inactivity Fee" of $400AUD for the period July to September.
This was surprising, given the publicity in recent days about the banks' 'fee for no service' rip-offs.
I am going to wait to see if they send me an account (my balance with them is zero), and then report them to ASIC (by whom they claim to be licensed) and the Consumer Commission.
vistula,
Jarrahdale WA, Australia,
May 4, 2018,
Guest

ForexCt they employ top class psychologist who follow client account and adjust it accordingly with strategy use by client. Like increase spreads for example BitUsd from $3 to $900 over night without any warning , from last monday 7/05/18 forex volume for eurusd went up from 50000 minimum to 100000 ( without warning ) so that for small account can be disaster. The worst, evil trick they do is shut down webtrader, page, after around 45 min and all setting are lost like Bollinger Bands, RSI and so on, to restart takes 5 min press login message "system failure #503 tray later on" and that for a few minutes. For that I've lost around $400 on position sell audusd, every thing shut itself down including position 0.7535 but that pair 10 min later went down to 0.7499 When I did ask way they do so answer "every broker does" this is a lie Pepperstone they don't shut down clients pages even if idle for some times.
Bondi,
Darwin, Australia,
Apr 12, 2018,
Registered user

ForexCT is SCAMMER

I jointed this company ForexCT 5months ago. They assigned you with account manager that is what they called it. But they are nothing then salesman tries to harass you to deposit money into your trading account. They have withdrawn money out of my account without letting me know for holding a negative position only 2 weeks when my fund still able to cover that position. Since I only have just over $7000 in it and they took out over $1000 dollars of my fund for holding a negative position. They will ring you up to sell your negative position so you make lost. When I ask to close out my account they took a long time to transfer money to your account as well. Beware that they will give you trading fund but at the end of the day, they will take it away unless you make money for them. I would like to warn everyone to stay away. They are nothing then scammer tries to make money from your money. Stay away from this company everyone.
VincetOmnia,
WA, Australia,
Jan 2, 2018,
Guest

ForexCT.com.au performs as expected

I have to say that ForexCT.com.au has performed more or less as expected for someone who is inexperienced and a self-professed amateur when it comes to trading.

I can say that the pestering for deposit and offering bonuses constantly is true. Their motivations are not mine to know, however insisting on my part that I'm not interested in bonuses and that I deposit what I can afford, when I can afford it seemed to shut that down.

Upon requesting a withdrawal, I was initially concerned after reading some reviews on here. However, after an initial miscommunication the withdrawal was processed within 10 business days, including bank delays.
Bluefish,
Australia,
Sep 2, 2017,
Registered user

your withdraws will be hellish process everytime

I went through forexct account manager role, thank god im not working there.
Just a heads up, the account managers role is not to assist you with your trades, not customer service. They have 2 jobs mainly, keep contacting you to get you to deposit as much money as possible using multiple techniques such as bonus, and lastly to stop you from withdraw your money from your forex account and delay the process as long as possible.

Account managers gets high commission based on how much you deposit based on monthly total deposit amount in their port folio, and every time someone withdraw from their account the amount gets deducted from their monthly qter, so they must delay your withdraws so it wont affect their currently qtrs.

They are not forex specialists, they are all sales people no minimal experience in trading, once they had your money they wont need to speak to you again until next month.

And I've heard account managers say things like as long as they deposit they will lose money to the market and we just get them to top up more.

That's why never join a broker who gives you bonuses, always go with a broker with no bonus offers.
steadyeddie,
Australia,
Aug 23, 2017,
Registered user

Do not use Forexct.com.au

Initially this firm seemed good, I was called regularly but that only lasted a week. Questions I had as I waa beginner were rarely answered or if they were it was after a lot of repeated asking. I initially made money but then it turned. I have recently had a problem in that my stop loss was triggered when the market was no where near it. It was a trade on BTC/ USD. I put up the trade. Then revisited it and put a stop loss was away and within 2 seconds I was sold out. over $10,000 I asked my account manager what happened. He never replied but after repeated requests said he was submitting it. Then the same thing happened on the same trade the next day!! Another $10000 taken but this time the. trade was in the other direction. No reply to my Question. I have tried to withdraw funds numerous times and my broker has threatened to withdraw my bonuses and cancel my cash back rebate if I do. I have been comparing spreads and theirs are up to 4 times those of others on some trades. I would not use this firm. I was a beginner and called their number by mistake when I did a google search for a phone number. I initially did not realise that they were not the firm I intended calling as a broker answers their phones and not a receptionist. The Broker I got said it must be destiny and that he only handled big clients and they made lots of money, that I was fortunate to get him and he would take me on even though I was inexperienced.
mansg1,
Australia,
Jan 4, 2017,
Registered user

Do not listen to them.

Do not listen to them.
Had bad experience with them before. Never will go back to them again.
They will rang from time to time to send out recommendation. All the recommendation will surely make client lose money.
Do your own research and analysis.
jamie smith,
nsw, Australia,
May 25, 2015,
Guest

Their platform is annoying. When you want to close out of a winning position the platform comes up with a message saying the quote has changed. By the time it allows you to log out you are losing. I find their software is against the client and makes it hard for you to make money. Very riggged software designed to make you lose.
Max,
Sydney , Australia,
Mar 9, 2015,
Guest

Cautious! They are not brokers but salesmen. I got 4 calls from this brokers in one day. I said I was busy, could you communicate via email. They insist to call me. I guess they dont want to leave any evidence? Also, their own Profit account is 'cute'. By far, the worst platform I ve ever seen. slow, retarded and freeze at times.
I ve also read somewhere else about them being scam. Stay cautious.
Man Pun,
Hong Kong, Hong Kong,
Mar 10, 2014,
Guest

I've been trading with this broker almost three months. Everything was doing fine, however, they suddenly sent me an email “we are investigating a number of irregularities that are linked to your trading account. “ They blocked my account and claimed that at least take 30 days to conduct this issue last week. I have lots of money in the account and they don’t allow me to do any activities including deposit and withdraw money on my trading account. After, I kept calling and sending email to them asking for the explanations, unfortunately, the department didn't answer my call and response my email. This was an irresponsible action. One week later, I just received another email “We confirm receipt of your email” and replied the same thing with previous email. It’s ridiculous!! I was losing money before and just start gaining money recently and they blocked my account immediately. Hopefully FPA can investigate for me about this issue. Thanks a lot!