As an STP broker, Gerchik & Co earns on the spread and does not act as a counterparty for traders. Thus, the intermediary company works according to the A-book model, withdrawing all clients’ trades to the interbank market. The broker boasts of instant execution of orders (up to 0.2 sec.). According to official data, the broker uses the services of ABN-AMRO-bank to withdraw transactions.
The intermediary company Gerchik&Co has been providing traders with access to online trading on the international financial market, including CFD contracts, for about three years. The company is headed by Alexander Gerchik, a well-known Russian stock exchange expert, who eighteen years ago developed a lecture ‘active trader’s course’. The lectures he gave at leading Russian universities brought the expert popularity and recognition. Over time, the trading professional founded the STP-broker Gerchik&Co with his own funds, and his surname became the firm’s advertising brand.
The project organiser chose an island offshore as the place of registration for his company. The official website of Gerchik&Co states that the company’s headquarters is located in the independent state of Belize in the east of Central America. Currently, the dealing centre has a license to carry out core activities from the regulatory organisations IFSC and VFSC. The Financial Services Commissions of Belize and Vanuatu have given the company’s clients the opportunity to:
- trade on Forex;
- invest;
- earn additional profits from affiliate programmes;
- improve their level of knowledge in the sphere of trading;
- take advantage of trading accounts and many other services.
The organisation was created to provide brokerage services to residents of the Russian Federation and CIS countries. Thus, being based in a neutral country and not having a licence from the Central Bank of the Russian Federation, the company simplified the registration process, reduced taxes, but personally lowered the rating of Gerchik&Co on specialised resources. Contradictory reputation in the web is largely due to ambiguous reviews and comments on various forex forums. We are talking about two camps: those who trust the odious personality and co-creator of Gerchik&Co A. Gerchik, and those who doubt the honesty of the businessman. However, it should be taken into account that the comments of real clients, who provide the fact of cooperation with the broker, speak positively about the company’s policy towards traders.
Gerchik&Co trading conditions: varieties of accounts
Currently, the brokerage company has a fairly wide range of real accounts both with manual management and for automated trading. Many reviews of Gerchik&Co clients testify to various advantages, in particular, the absence of restrictions on setting Stop Loss and Take Profit orders, limits on their distance from each other and the limit on the number of parallel open positions. In general, the client chooses from five trading account variants suitable for traders with different aspirations and level of knowledge. These are the accounts:
- Mini with a floating spread of 0.3p, a minimum deposit of $500, leverage: 1:100 and a commission of 10% per bet;
- Simple requires an initial deposit of $1,000 and differs from the previous account type with a zero spread;
- Silver raises the minimum deposit up to $10 thousand and differs by the increased commission per lot ($9);
- Gold and Platinum types of accounts are equal to VIP-accounts, requiring from the trader a contribution of 25 and 100 thousand American dollars, respectively. The commission per lot will be $8 for the Gold account and one dollar less for the Platinum account.
Following the real accounts for manual trading are two automated versions: RoboxMini and RoboxSimple. The first one has a spread of 0.4 pips and a lot commission of $18. The initial deposit should be at least $500. The second one differs from the first one only by the minimum deposit, which here is $5 thousand. It should be noted that all the presented types of accounts after opening allow their owners to ‘risk management’ and seminars.
In addition to real accounts, there is also a demo account for beginner traders. Thus, the broker allows beginners to test the ground of the trading world, and experienced traders can test any controversial or unique strategy on the market without risk of losing money. On the virtual account, all indicators are completely identical to the real ones, the broker notes on its official website.
A set of trading tools from Gerchik&Co team
Clients will have the opportunity to conclude transactions on the classic MetaTrader 4 platform. The computer version of the software will run on Windows/Mac, while the mobile version is optimised for portable gadgets running Android or iOS. The website specifies that the MT4 software includes a standard set of technical tools for both trading and analysis. The financial assets for trading operations are:
- about eighty currency pairs;
- cryptocurrencies (BTC/USD);
- over 30 CFD contracts on energy carriers, indices and precious metals.
In addition to the available trading conditions, investors and traders can claim:
- technical analysis of financial assets from the LevelForecast indicator;
- development and testing of trading strategies with the help of CTSPRO service (v. 4.7);
- uninterrupted trading thanks to VPS hosting;
- trading strategies developed by experienced traders thanks to PSYQuation service;
- market news, forecasts/reviews;
- service for individual evaluation of risk management and trading statistics.
The business card of the broker under review is the TIMA service – an innovative investment programme, which is a modified analogue of a PAMM account. The system is designed for managers as well as investors. The first ones have an opportunity to get profit from investments, while the representatives of the company get rich at the expense of the invested funds. The unique service helps investors to transfer funds to the management of experienced market participants.
Another service is RoboX expert advisor, which will be opened to each client who first visited the personal account on the site. The robot will help to trade on auto-accounts, bringing additional income to the trader. This investor service contains about 1 thousand packages, each of which is suitable for any trading strategy with the ability to change the level of profit at any time.
Broker’s reputation: working model, reviews, available payment systems for deposit/withdrawal of funds
Being an STP-broker, Gerchik & Co earns on the spread and does not act as a counterparty for traders. Thus, the intermediary company works according to the A-book model, withdrawing all clients’ trades to the interbank market. The broker boasts of instant execution of orders (up to 0.2 sec.). According to official data, the broker uses the services of ABN-AMRO-bank to withdraw transactions.
The company cooperates with a significant number of liquidity providers, which should allow clients to conclude transactions at the most favourable prices. The management stated that the broker places its clients’ funds on segregated accounts of leading EU banks. The dealing centre guarantees traders compensation in case of a disputable situation in the form of claims to the company’s financial services.
Deposits and withdrawals can be made via bank transfers, Visa or MasterCard, EPS (Skrill, Epayments, Onlinepay), e-wallets (WebMoney, Bitcoin, Wallet One, QIWI, OKPay, LAVA Pay). Withdrawal of funds with the help of the declared payment instruments is carried out within two days, while replenishment is instantaneous.
The reviewed dealing centre is a relatively young organisation, the advanced services of which receive very contradictory reviews on specialised Russian sites. Thus, a small number of substantiated positive and negative comments do not provide an objective assessment for potential clients of the company. Gerchik&Co has not been blacklisted, however, judging by the ambiguous ratings and reviews, we recommend checking the company’s trading conditions on a demo account.
