This Gerchik & Co review provides an in-depth look at this broker, detailing its offerings, pros and cons. Selecting the right broker is crucial to your success as a trader. And that is why reviews like this are very crucial.
Gerchik & Co Review: Overview of the Broker
Gerchik & Co was established in 2015 by Alexander Gerchik and has its headquarters in Saint Vincent and the Grenadines. Alexander Gerchik is a successful trader with over 20 years of experience in the financial markets, who became famous for his appearances on the Russian TV show “Wall Street Warriors.” His goal in founding the company was to provide traders with a safe and transparent trading environment while incorporating essential risk management tools. Gerchik & Co primarily targets traders in Russia, Ukraine, and other CIS countries but has a growing presence globally.
Some of the key features of the broker include the wide range of trading instruments offered and especially, its strong emphasis on risk management tools. By exploring the pros and cons of this broker, you should be able to not only know its strengths and weakness, but also know if it’s suitable for your trading needs.
Gerchik & Co Review: Pros
1. Strong Focus on Risk Management
Its comprehensive approach to risk management is one of the standout features of Gerchik & Co. The broker has its proprietary risk manager tool that allows traders to protect their capital by setting strict risk parameters. This includes daily or weekly loss limits which prevent them from losing more than they are comfortable with. This a significant advantage for those who prioritize account safety, and aligns with the founder’s personal philosophy that successful trading is about controlling losses.
2. Variety of Account Types
With multiple account types, Gerchik & Co caters to different trader profiles, from beginners to seasoned professionals. This includes the following:
- Micro Account: Ideal for beginners who want to test the waters with smaller trades.
- Standard Account: Suitable for more experienced traders, offering full access to all trading tools and instruments.
- ECN Account: Designed for advanced traders looking for tight spreads and direct market access.
- Professional Account: Tailored for institutional and professional traders, offering custom trading conditions and higher leverage options.
Each account type comes with its own set of features and trading conditions, allowing traders to select an account that best suits their trading style and risk appetite.
3. No Dealing Desk (NDD) Execution
Gerchik & Co uses an ECN/NDD execution model, which ensures that there is no conflict of interest between the broker and traders. Orders are passed directly to liquidity providers, resulting in better pricing, lower spreads, and faster execution times. This is a significant advantage, especially for day traders and scalpers.
4. Comprehensive Educational Resources
The broker places a heavy emphasis on educating its clients, with a wealth of educational materials that include webinars, courses, articles, and video tutorials. The learning-first approach helps traders at all levels to continuously improve their skills and knowledge.
5. Competitive Spreads and Fees
The broker offers competitive spreads, especially on the ECN account, where spreads can start as low as 0 pips. Coupled with fast execution, this makes Gerchik & Co an excellent choice for traders who prefer scalping or high-frequency trading strategies.
6. Social Trading
While Gerchik & Co does not have a dedicated copy trading platform, they offer signals and strategies from experienced traders that users can implement in their accounts. Traders can review performance statistics and risk metrics before adopting a strategy, offering a level of customization and control over how they use social trading.
Gerchik & Co Review: Cons
1. Limited Regulatory Oversight
Gerchik & Co is registered in Saint Vincent and the Grenadines, which is a popular offshore location for brokers. While the company operates transparently and emphasizes risk management, it does not hold licenses from major regulatory bodies like the FCA (UK) or CySEC (Cyprus). For some traders, this lack of tier-one regulation may be a concern, especially regarding fund security and dispute resolution.
2. Restricted Access to Some Countries
Gerchik & Co primarily serves clients from Russia, Ukraine, and CIS countries. However, it has limited access in certain regions, particularly in countries with stricter financial regulations such as the USA, the UK, and parts of Europe. This limits the broker’s reach for traders in Western markets.
3. No Proprietary Trading Platform
Although the broker offers MetaTrader 4, it does not have its own proprietary platform, which some other brokers provide to enhance user experience. Traders looking for unique, custom-built platforms might find this somewhat limiting.
4. No Direct Copy Trading Feature
Unlike some competitors, Gerchik & Co does not offer a dedicated copy trading platform. While it does provide signals and strategies from experienced traders, the lack of a fully-fledged copy trading feature can be seen as a disadvantage for beginners who want to mirror the trades of seasoned professionals directly.
Conclusion
As revealed in this Gerchik & Co review, this broker stands out as one that is firmly focused on the principles of risk management and transparency. With the founder’s extensive trading experience and the company’s emphasis on protecting traders’ capital, the broker offers a secure trading environment. The variety of account types and competitive trading conditions make it a good choice for traders across different experience levels.
However, the lack of strong regulatory oversight and a proprietary platform may deter some traders. Also, traders looking for advanced features like direct copy trading or a highly regulated environment may want to consider other alternatives.
Frequently Asked Questions
How do I know a fake broker?
- Some of the things to look out for in order to know if a broker is legit or fake include regulatory compliance, reputation and reviews, background and history among others.
What are the different types of accounts offered by Gerchik?
- The broker provides a variety of trading accounts. This includes the micro accounts, ECN account and the Pro account.
Does Gerchik & Co have a reliable regulatory oversight?
- The broker is not regulated by a top tier financial authority. This limited regulatory oversight is a major drawback to some traders.