Gerchik&Co Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100
- MetaTrader4
- MetaTrader5
- VFSC
- 1995
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100
- MetaTrader4
- MetaTrader5
- VFSC
- 1995
Our Evaluation of Gerchik&Co
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Gerchik&Co is one of the top brokers in the financial market with the TU Overall Score of 8.06 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Gerchik&Co clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
The trading conditions provided by the company are not suitable for beginners and are more focused on professional traders.
Brief Look at Gerchik&Co
Gerchik&Co was founded in 2015 by Ukrainian traders Oleksandr Gerchik and Ivan Kroshny and began operations in July of that year. Initially, it focused on the Commonwealth of Independent States (CIS, a Post-Soviet Union regional intergovernmental organization consisting of 9 countries in Eurasia) before expanding to the European level.
In November 2015, Gerchik&Co was recognized as the "Fastest Growing Broker" by the Mena 15th Forex Show. Based on the results of an independent vote by Russian Trading Day Money, the company received the "Breakthrough of the Year" award in December 2015, and Oleksandr Gerchik obtained the title of "Best Speaker" in the same month. To protect its clients' interests, the company also cooperates with the Traders Union and the International Financial Commission.
- 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.
- a high minimum deposit of $100, which is inaccessible to beginners.
- MetaTrader 4 and MetaTrader 5 trading platforms;
- no apps for mobile trading, only the mobile version of the website is available.
- small leverage — 1:100;
- many quotes provided by the broker are inaccurate;
- strict user conditions in the Terms of Agreement;
- trading on weekends is not possible.
TU Expert Advice
Financial expert and analyst at Traders Union
Over the years, Gerchik&Co has established itself as a forward-thinking and ambitious STP broker. The company is actively working to provide quality services to its clients. There is a wide range of assets, narrow spreads, accounts for users with different needs, and fast order execution speeds. Clients are also provided with access to educational materials and automated trading systems.
The brokerage company focuses on providing high-quality client services for traders with all levels of experience, from beginners to experts. For several years, the company has received both positive and negative feedback. Positive points include high-quality service, a broad educational base, and fast order execution. The reason for the negative feedback is the speed of the withdrawal of funds and the inaccuracies in the quotes provided by the broker.
Any of these issues can be resolved by contacting the support service, which will provide competent advice. Furthermore, the company offers clients a variety of ways to provide feedback, ranging from a website form to social media, where the user can point out the broker's shortcomings and thus assist the company in its future development. The broker always meets its clients halfway and listens to their wishes.
The company is not the best on the market right now, but it is working hard to address the flaws and provide its clients with the best trading conditions and competent service.
- You appreciate choice and flexible trading conditions. Traders have access to six user accounts with significantly different parameters, as well as separate accounts for managers.
- You need a professional account with the lowest possible spreads. Traders can open a Simple account where raw spreads start from 0 pips. There are no restrictions on the number/volume of trades. The minimum deposit is $1,000, which is often lower than that of most competitors offering the same conditions.
- You have no desire to work on MT platforms. Gerchik&Co only supports MetaTrader 4 and MetaTrader 5. You cannot use cTrader, NinjaTrader, and other solutions.
Gerchik&Co Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5, Mobile Platforms |
|---|---|
| 📊 Accounts: | Demo account, Zero, Mini, Simple, Silver, Gold, and Platinum |
| 💰 Account currency: | USD, EUR |
| 💵 Replenishment / Withdrawal: | Visa and MasterCard bank cards, SharPay Visa card, bank transfers (SEPA, SWIFT), and electronic payment systems: Perfect Money, ADVCash, Bitcoin, Litecoin, Ethereum, Tether, TUSD, DAI, USDC and Ripple. |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0.0 pips |
| 🔧 Instruments: | Forex, CFDs on: Сryptocurrencies, Metals, Indices, Energies, Futures, US Stocks, EU Stocks, UK Stocks, ETF |
| 💹 Margin Call / Stop Out: | 100% / 50% |
| 🏛 Liquidity provider: | - |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market Execution |
| ⭐ Trading features: | Automatic trading; The "Risk Manager" function; Educational materials. |
| 🎁 Contests and bonuses: | Yes |
In their reviews, the company's clients point out a relatively low deposit for an STP broker, which is only $100. Users also pay attention to a large number of trading instruments, narrow spreads, and the ability to use robots to automate trading. Order execution is also fast.
Gerchik&Co offers clients small leverage — only 1:100 — which significantly reduces the degree of risk since a client with small leverage loses several times less than a client with a leverage of 1:1000 or higher.
The broker gives clients access to a large number of educational materials as well as personal statistics with 37 parameters, which allow the client to analyze and adjust his market actions to achieve better results.
The brokerage company provides clients with high-quality and prompt support services on the website and by phone. There are other ways to contact the company; feedback can be given through social media and messengers.
Gerchik&Co Key Parameters Evaluation
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Trading Account Opening
Before beginning work with Gerchik&Co, TU recommend that you familiarize yourself with the registration process and take a virtual tour of your user account.
To open a user account, simply go to the broker's home page and click the "Open account" button in the upper right corner.
After clicking the button, you will be taken to a new window where you must complete a questionnaire with your personal information to enter your email address and password to access your new user account. You also need to confirm that you have read the Client Agreement. You can read it by clicking on the same-named link. At the end of the registration process, you should enter the digital code shown in the image and click the "Register" button.
After you register on the website, you will be taken to your user account. To work successfully and be able to withdraw funds, you must first verify your profile.
The user account contains the following functions:
Detailed information about active trading, investments, partnerships, services of the company, and its history can be found on the main page in the corresponding section.
access to user accounts, including demo accounts and archived accounts;
balance operations, such as depositing into the account, withdrawing funds, internal transfers, and transaction history;
services provided by the company, including risk manager, personal statistics, indicators, and partnership;
support, including educational materials, documentation, and the ability to contact customer service, as well as platforms and contact information;
a personal profile in which the client can change personal settings.
Regulation and Safety
The brokerage company Gerchik&Co is accredited by the Vanuatu Financial Services Commission under registration no. 40512. The above regulator controls the company's compliance with all the requirements imposed on it. If the broker fails to fulfill its legal obligations to the regulatory authority, the license to provide financial services may be revoked.
Furthermore, the company's activities are regulated by the International Financial Commission. This body performs the function of consumer protection, and in the event of a legal conflict, the commission resolves the matter following technical and legal standards.
Advantages
- Client's rights are protected by the International Financial Commission
- Guaranteed compensation in the amount of up to $20,000 per claim for the client of the company
- The resolution of disputes between the broker and the trader is regulated by independent experts
- Established regulations governing the relationship between the company and the client
- The broker's website provides free access to legal documentation.
Disadvantages
- Accreditation by only one regulatory body
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Zero | from $10 | No |
| Mini | from $10 | No |
| Simple | from $10 | No |
| Silver | from $9 | No |
| Gold | from $8 | No |
| Platinum | from $7 | No |
Also, Gerchik&Co's trading fee was compared to the indicators of well-known brokerage firms such as RoboForex and Pocket Option. Based on the data obtained, brokers’ fees were divided into three categories: high, medium, and low levels.
| Broker | Average commission | Level |
|---|---|---|
|
$9 | |
|
$1 | |
|
$8.5 |
Account Types
To get started, you need to open an account on the broker's website. Gerchik&Co provides its clients with a choice of 6 account types. Clients can deposit in each of them using standard fiat currencies — EUR and USD. In addition to accounts for active trading, Gerchik&Co offers investment accounts as well as a demo account for learning the basics of trading in the foreign exchange market.
Account types
The broker uses MetaTrader 4 and MetaTrader 5 as a trading platforms. The platform is available in the form of a web version and a mobile app for both PC and mobile trading.
Deposit and Withdrawal
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The brokerage company does not charge its clients a fee for depositing and withdrawing funds from their Forex accounts, nor does Gerchik&Co charge a fee for its services.
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Withdrawals from Gerchik&Co are made using Visa and MasterCard bank cards, SharPay Visa card, bank transfers (SEPA, SWIFT), and electronic payment systems like Perfect Money, ADVCash, Bitcoin, Litecoin, Ethereum, Tether, TUSD, DAI, USDC and Ripple.
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Gerchik&Co clients incur withdrawal fees ranging from 0.5 to 2%, depending on the method of withdrawal established by the bank, EPS or crypto wallets.
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Withdrawal requests at Gerchik&Co are processed within 1 minute to 2 days. Funds are credited to EPS and bank cards within 2 business days. Withdrawal via bank transfer takes 3 business days.
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To withdraw funds, clients can use either EUR or USD.
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The minimum amount a Gerchik&Co client can withdraw ranges from $1 to $100, depending on the withdrawal method.
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Funds can be withdrawn only to verified bank cards.
Investment Options
The brokerage company has favorable offers for active market participants and investors, including those who are not ready for active trading due to a lack of experience or time. In this case, the client can benefit from Gerchik & Co’s investment programs.
Trust management, or TIMA Service
The service operates on a standard model: the investor chooses a manager, makes a deposit, and consistently makes a profit, while the account manager does the trading.
Minimum deposit is $100. This amount is more than sufficient to begin investing. The investor can increase the deposit at his discretion. The higher the deposit, the higher the profit.
Trader's calculator. An investor can use a special calculator on the website to calculate the annual return on investment. This function allows you to select the most advantageous conditions for yourself and begin investing competently.
Manager’s rating. This section contains detailed information about managers and their success. The rating takes into account the indicator of income and drawdowns, as well as the amount of the minimum deposit and the amount of commission paid to the manager by the investor.
Safety and security. The brokerage company does not have access to the funds invested by the client. Deposits are held in a clearing account at a European bank.
Risk manager. Even though the manager does the trading, the client has the right to control the trading process. The manager has no right to exceed the drawdown level specified by the investor, and the "Risk Manager" service will automatically close all unprofitable orders.
No limitations. An investor can either invest in one account and receive up to 300% per year or invest in several accounts.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Referral program
In addition to passive earnings in the foreign exchange market, the broker invites clients to join the referral program and earn extra money with almost no effort.
Web partner. The client of the company receives remuneration for registering new clients using an individual referral link or banner. The partner receives $4 for each lot of clients who register through an individual link.
Payments are made during the trading activity of the clients brought in by the partner. Thus, the trader receives a consistent passive income without having to trade.
Any active user of social networks can become a partner. To do this, it is enough to register with the company and pass verification. The whole process takes no more than 10 minutes.
Customer Support
Clients of the company can reach the support service from 9am to 6pm, Monday through Friday. A team of specialists will provide competent assistance in resolving any problems.
Advantages
- Prompt assistance to clients
- Qualified personnel
- A large number of communication methods
Disadvantages
- Communication with the support service is possible only at certain hours — from 9 to 18 GMT +3
Gerchik&Co specialists can be reached in several ways, including:
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email;
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phone calls to the numbers listed on the website;
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messaging through the website’s chat;
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completing the website's feedback form;
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social networks.
Contacts
| Foundation date | 1995 |
|---|---|
| Registration address | AJC,Govant Building, Kulum Highway, Port Vila, Vanuatu |
| Regulation |
VFSC
Licence number: 40512 |
| Official site | https://gerchik.co/ |
| Contacts |
+44 203 318 42 01, +3 705 259 62 16
|
Education
The brokerage company offers its clients not only trading functionality, but also educational materials that will assist them in understanding the nuances of the Forex market and making their trading more efficient and profitable.
For more effective education, it is recommended to use the acquired knowledge on a demo account. There, you can get practice while avoiding a loss. This method of knowledge consolidation is suitable for both beginners who need training before trading on a real account and experienced traders who are testing a new trading strategy.
Comparison of Gerchik&Co with other Brokers
| Gerchik&Co | RoboForex | Pocket Option | Exness | FxGlory | Libertex | |
| Trading platform |
MetaTrader4, MetaTrader5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5 | Libertex, MT5, MT4 |
| Min deposit | $100 | $10 | $5 | $10 | $1 | 100 |
| Leverage |
From 1:1 to 1:100 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:3000 |
From 1:1 to 1:30 for retail clients |
| Trust management | Yes | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | 8.00% | No |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 2 points | From 0.1 points |
| Level of margin call / stop out |
100% / 50% | 60% / 40% | 30% / 50% | No / 60% | 20% / 10% | 50% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Instant Execution, Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of Gerchik&Co
The brokerage company began operations in 2015, and during that period Gerchik&Co was awarded the "Breakthrough of the Year" award as well as the title of "Fastest Growing Broker". The company is actively developing and improving the quality of service daily to provide its clients with the best trading conditions on the market.
The broker's regulator is Vanuatu VFSC (reg. no. 40512). The accreditation of a company by this regulator is an indicator of reliability. You can check whether the broker has a license on the website, in the sections "About the company" and "Legal information". Gerchik&Co's clients' interests are protected by the International Financial Commission.
Gerchik&Co by the numbers:
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a wide range of trading assets — 383 instruments;
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narrow spreads — from 0 pips;
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12 methods to deposit and withdraw funds;
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the Forex experience of Alexander Gerchik, the owner of the company and the author of educational programs — more than 20 years;
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order execution speed — from 1 millisecond;
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operations with funds (deposits and withdrawals) are available in 200 countries.
Gerchik&Co offers high-quality services to both novice and experienced traders
Gerchik&Co is a progressive broker in the Forex market. The company's mission statement is to provide traders with the highest quality service possible. The STP broker offers traders advantageous trading conditions that are tailored to both novice and professional traders.
The broker's benefits include extensive trading functionality — a large number of assets, access to automated trading, and additional services for calculating investment profitability or analyzing active trading. Accounts are protected from losses with the "Risk Manager" service, which is available for all types of accounts.
Gerchik&Co describes itself as an STP broker, which means it has no liquidity intermediaries. Traders can gain direct access to the interbank market through the broker, bypassing intermediaries. As a result, clients gain access to high-liquidity assets while the speed of order execution is significantly increased, as evidenced by client reviews.
Trading activities of all clients, regardless of the type of account, are protected by the "Risk Manager" service. This robot controls the level of acceptable risk in trading previously set by the trader, and automatically closes unprofitable orders. Furthermore, this robot excludes the impact of the trader's emotions on the trading process — it will be impossible to change the acceptable level of risk in a losing trade.
The broker also makes sure that clients can determine the most profitable points of entry into the market. With this in mind, there is a service called "Volume Indicator". It displays the trend's direction and its reversal points, filters out false signals, and at the same time does not slow down the platform's speed.
Clients of Gerchik&Co can also use a trader's calculator to calculate the cost of a point, risks, and trade settings, an Algorithm Developer to create trading strategies, as well as individual trader statistics.
Advantages:
a wide range of trading instruments — 383 assets;
the "Risk Manager" function, which is available on all types of accounts, protects the account from unforeseen market events and closes unprofitable trades;
educational materials from a trader with 22 years of experience;
the best asset prices due to the conclusion of trades on the interbank market. Traders interact with liquidity providers directly;
algorithmic trading is allowed;
the company makes a profit from a fixed fee. The broker does not profit from spreads;
trader statistics are divided into 37 indicators. Statistical analysis helps traders improve their trading performance.
User Satisfaction