Incorporation of any company starts with the idea to start something new and bring fresh changes to the industry. One of the best forex broker Gerchik & Co is a shining example of a company which aims to provide traders with the brokerage services of the highest quality.
Today, we are going to tell you why Gerchik & Co stands out among other forex brokers, why it calls itself an innovative company, who its founder and president are. So, let’s get started.
Read in today's article:
1. Who is Alexander Gerchik
2. Emergence of an idea to start a best forex broker
3. What does the forex broker offer its customers
4. STP model and best liquidity
5. Technologies designed to help traders
6. How forex broker Gerchik & Co helps its customers to trade profitably
7. Gerchik & Co: a young but very ambitious company
Who is Alexander Gerchik
Alexander Gerchik is known worldwide as one of the safest day traders. He has not had a single losing trading month since 1999 but built his trading career practically from scratch.
Alexander Gerchik is originally from Odesa, Ukraine but moved to New York, USA at the age of 22. He had no financial education and started off as a cab driver. Upon the recommendation of one of the clients back in 1996, Alexander joined brokerage training course.
The course lasted four months and at the end of it there was one of the toughest exams in America, the third hardest after the medical licensing examination for doctors and a bar exam for lawyers. Alexander passed it on the third try and received a brokerage license which is required in order to get an access to stock exchange trading.
From this point onward, his career unfolded as follows:
Alexander Gerchik served the clients in a small forex broker. This type of work did not particularly appeal to him since he wished to try himself in real trading on the stock exchange.
Proprietary trading firm Worldco
Alexander Gerchik became a part of another company where he started day trading and managing clients’ funds. At this stage, Alexander realized two important things:
1. First and foremost, the trader should learn not to lose money. Only that way, he or she will be able to earn profit. By the way, this rule will become one of the core principles of his own company Gerchik & Co.
2. A trader should always understand what he or she is doing. Maintaining statistics and analyzing trades are among the key pillars of the trader’s work.
Step by step, Alexander got the hang of exchange trading and over the course of a year, his trading turnover increased from 10 thousand to 1 million dollars a day.
While working at Worldco, Gerchik has started training new traders. Thanks to his help, the traders improved their performance two to threefold.
In 2003, Alexander Gerchik became the managing partner at Hold Brothers which provides direct access to the U.S. stock market. Since 2007, he started cooperating with the Russian company ITinvest which was able to get access to the NYSE, having Hold Brothers as an intermediary.
In 2011, Gerchik joined the Finam Investment Holding where he launched a hedge fund for private clients. Managing clients' money, Alexander and his team demonstrated excellent profitability even in an unstable market. Aside from that, he continued teaching and held Active Trader Course workshops.
In 2015, Alexander Gerchik announced that he was leaving the Finam Holding and starting his own company, a one of the best forex brokers Gerchik & Co.
Watch this short video to learn more about Alex Gerchik
Emergence of an idea to start a best forex broker
Finding a trustworthy forex broker can pose a challenge in the market of the CIS countries. A lot of forex brokers want the traders to lose their deposits or simply scam their customers.
For instance, 2014 and 2015 were marked by the shutdown of large brokers (RVD Markets, Forex Trend, MMCIS, etc.). They turned out to be scammers that vanished, having taken the clients' money.
In contrast, other companies do not provide traders with sufficient conditions for trading in the financial markets and offer a limited range of outdated solutions.
Alexander Gerchik is a trader himself, and so he knows the problems that the industry faces in the CIS countries. With this in mind, in 2014, he came up with an idea to start a forex broker that:
- will be able to offer traders truly favorable trading conditions;
- will work out and deliver effective cutting-edge products and solutions;
- will ensure the safety of the traders' funds;
- will become a broker that traders can trust.
What does the forex broker offer its customers
Gerchik & Co is a one of the best forex broker incorporated by traders for traders in 2015. The co-founder of the company is Alexander Gerchik’s like-minder and a successful trader Ivan Kroshnyi.
The founders of the company have come a long way from being the newbies to professional traders, so they know all the intricacies of practical trading. This is what allowed starting a company that caters to all of the customers’ needs.
For both novice traders and professionals, it is vital to choose the best forex broker. In daily trading, a lot of factors matter. These are namely:
- order execution speed;
- spread and commission size;
- availability of various trading styles supported by the forex broker;
- access to a wide range of financial instruments and provision of liquidity.
ADVANTAGES OF TRADING WITH GERCHIK & CO
- You can trade over 300 CFDs on major indices, commodities and precious metals. For currency traders, there are more than 60 currency pairs to choose from.
- Cryptocurrency trading is on everyone's lips today. Since September 2017, Gerchik & Co offers a chance to trade bitcoin (BTC/USD pair).
- 5 types of accounts for traders having different professional level and financial means.
- The minimum trading volume is 0.01 lot. Clients can use leverage up to 1:100.
- Floating currency spreads from 0.0 pips. All spreads are the interbank ones since the company does not make money off of them.
- The order execution speed is from 0.05 to 0.2 seconds.
Become a customer at Gerchik & Co broker
STP model and best liquidity
Gerchik & Co is an STP broker which operates based on the A-Book model. It means that:
- The customer’s trades are not made internally.
- All orders are withdrawn to the interbank market, the whole process associated with the order processing (placement and execution) is done automatically.
Thanks to the Alexander Gerchik’s decades of experience and connections, the forex broker was able to get access to major liquidity providers. Gerchik & Co partners with over 15 world’s largest liquidity providers including Morgan Stanley, Goldman Sachs, Deutsche Bank, Citigroup, HSBC, ABN AMRO etc.
WHAT DOES THIS MEAN FOR TRADERS
- Quick and accurate order execution, as well as the low spreads depend directly on high liquidity ensured throughout all trading sessions.
- Collaboration with the world's largest liquidity providers allows Gerchik & Co to choose the best prices for its customers and ensure fast market operation.
Why we don't have cent accounts
Some traders, typically beginners, may think that the minimum deposit of $500 is a bit too much. The newbies who are not familiar with trading in the financial markets don’t wish to risk that kind of money. However, this minimum threshold for opening an account in the company is explained by its operating peculiarities.
Major liquidity providers that the company partners with work with large volumes. So, Gerchik & Co cannot withdraw to the interbank the orders the volume of which is less than 0.01 lots. For this very reason, the forex broker has such requirements regarding minimum deposit amount.
Technologies designed to help traders
Gerchik & Co is an innovative company that aims to effectively use the latest technological solutions in order to improve the quality of brokerage services.
The company prioritizes technology. Thanks to the well-coordinated teamwork of the IT Department, Gerchik & Co was able to establish a reliable high-speed communication with liquidity providers. All orders are executed with minimum delays.
Gerchik & Co puts best foot forward to be the most innovative company. In today’s brokerage market, there aren’t many high-quality products for traders. We use the best solutions in the field of programming and machine learning to provide our customers with unique and cutting-edge services.
How forex broker Gerchik & Co helps its customers to trade profitably
Gerchik & Co is personally interested to help its customers to become successful traders and make a consistent profit. The majority of forex brokers do not really care if their clients make money in the financial markets, since they take away the spread from each trade anyway, be it a losing or winning one. It’s a different situation when it comes to our company.
Gerchik & Co is an STP broker who does not make money on the difference between the bid and ask prices. Floating spreads of each financial instrument in our trading terminal depend on liquidity providers.
The company makes money on commission charged for taking the trades to the interbank market only. It is important for us that our customers earn consistently. That’s how we profit, too. So, we make every possible effort to help both novice and experienced traders.
At the very beginning of his trading career, Alexander Gerchik learned one of the most important trading rules:
In order to learn how to make money by trading, first you should learn how not to lose it!
This is why, Gerchik & Co’s core principle is to help traders preserve their deposits. To achieve that, we have developed services and solutions that our customers can use free of charge. Below we are going to review two of them, and you can learn more about other unique services here.
Proper risk management is the key to successful trading in financial markets. That being said, this is one of the most challenging aspects of trader’s activities. Even having a well thought-out and profitable trading system, it is sometimes difficult to control oneself in the course of live trading which can result in violation of money management rules.
We have come up with a unique software, the Risk Manager, designed to manage the risks in real time mode using automatic algorithms. The service helps to protect the trader against inconsiderate steps, closes trades and disables the access to the trading terminal when the acceptable risk threshold is exceeded.
Watch the video to learn more about Risk Management
Another vital aspect of the traders’ daily work is statistics and analysis of their actions. It allows identifying the mistakes and revealing the strengths and weaknesses of the trading strategy. We realize that it can be quite difficult for active traders - especially day traders - to analyze all of their trades since there can be several dozen made in just one day.
With this in mind, we developed and launched a service called Trader’s Diary which downloads all data on trading performance from the terminal and generates a detailed report.
So, traders can, in a matter of minutes, collect all the information on trades in the form of convenient and detailed statistics. This simplifies the trading analysis exponentially and allows identifying both correct and wrong decisions easily.
Gerchik & Co: a young but very ambitious company
Gerchik & Co has not been operating on the market for a long time, yet we are working hard to achieve our key goal of becoming a next generation forex broker. We would like the phrase «forex broker» to no longer be associated with «kitchens» that trade against their customers, and oftentimes turn out to be scammers.
Gerchik & Co is a brand-new type of brokerage company. Its founders are traders who have many years of trading experience under their belt and know perfectly well what customers need.
Our mission is to be the most transparent and reliable company for both traders and investors with any level of expertise!
You can come across both positive and negative reviews about Alexander Gerchik or Gerchik & Co on the Internet.
We believe that this is nothing out of the ordinary. In the light of the recent fraud cases, people find it hard to believe that a young company can have honest intentions.
We fully understand such people's concerns and here's what we have to say to this:
1. When starting a brokerage company, Alexander Gerchik put his reputation at stake.
2. Gerchik & Co has nothing to prove to anyone and will not use aggressive promotion strategies. Our priority is to become a best forex broker and provide traders with the most favorable conditions for trading in the financial markets.
3. We would like the traders to be able to trust us which is why we follow the policy of complete transparency in all matters. Our customers can have any of their questions answered by not only the company's consultants, but also the founders including Alexander Gerchik himself.
4. We have the best liquidity providers which allows us to provide our customers with low spreads and instant order execution. We stay strong in the pursuit of your goals and continue to expand the range of trading instruments and improve trading conditions.
5. We believe that the latest technological solutions can and should help traders in their work. Our customers already use a number of unique services brought by Gerchik & Co.
The forex broker is indeed very young, and we do not deny the fact that we may have errors and shortcomings. We are working actively to improve the quality of our services and listen carefully to the customers who point out our mistakes or offer valuable advice.
You can leave your feedback about Gerchik & Co in the comment section and we will make sure to take it into consideration. We remain very open to everyone, and welcome any comments and suggestions.
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