Is Gerchik & Co Scam or Legit Broker?

No, Gerchik & Co is not a safe broker as it lacks a reputable license from a leading regulatory authority. The company conducts its operations under Gerchik & CO Limited and is registered in Vanuatu, a jurisdiction often associated with questionable practices.

  • The Forex industry in Vanuatu functions with limited regulatory supervision. While brokers located there may offer various appealing financial services, their oversight falls short of the stringent standards introduced by renowned authorities like ASIC and FCA. Consequently, engaging in trading within offshore jurisdictions is generally considered less secure. Read more about why avoid brokers from Vanuatu.

About Gerchik & Co
🏢 Registered inVanuatu
🗺️ Type of LicenseOffshore license
🛡️ Is Gerchik & Co safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Gerchik & CO Limited?

Based on the information we collected Gerchik & Co provides access to over 400 assets and tight spreads that begin at 0 pips. The trading platforms are powered by the Equinix LD4 data center, ensuring high-performance trading experiences. Gerchik & Co provides traders with fundamental and technical analysis, financial news, and video analytics. 

  • The broker also mentions that the interests of traders at Gerchik & Co are safeguarded by the International Financial Commission, FinaCom. This means that in the event of any disputes, FinaCom assesses the situation from both technical and legal perspectives and there is a compensation fund guaranteeing payments to traders up to €20,000 covered per claim.

Nonetheless, to provide an unbiased and comprehensive overview of Gerchik & Co, we conducted an extensive research and revealed the following key points:

  • Lack of serious registration: Gerchik & Co is registered in Vanuatu (Dauphiné Street, Numbatu area, Port-Vila). It is a well-established fact that Vanuatu, being an offshore jurisdiction, lacks adequate oversight and regulatory guidelines. Consequently, Gerchik & Co and other brokers registered in this jurisdiction may not be the optimal choice for financial investments. However, the broker mentions its cooperation with the International Financial Commission, that ensures compensation of €20,000.
  • Clients reviews: Traders are often uncertain about a broker’s trustworthiness. In this case seeking guidance from authentic trader reviews is crucial. Based on our research, it is evident that Gerchik & Co reviews are mostly positive, with traders frequently highlighting the broker's tight spreads and favorable trading conditions.
  • Withdrawals Issues: Hassle-free withdrawal of funds from a trading account ranks among the utmost priorities in Forex trading. Based on the fact that Gerchik & Co is an offshore broker, the withdrawal process with the broker might turn out to be intricate, potentially leading to financial losses for traders. When contemplating whether to engage with this broker, it's crucial to thoroughly assess the potential drawbacks that could impact the trading process and its outcomes.

Overall Gerchik & Co Ranking

Through research, we have uncovered noteworthy apprehensions regarding Gerchik & Co's trustworthiness and its adherence to regulatory standards. Consequently, we are unable to offer a favorable rating for Gerchik & Co.

  • Gerchik & Co Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

RankingGerchik & CoGo MarketsPepperstone
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe?NoYesYes
AdvantagesNoneTrading ConditionsTrading Environment

Gerchik & Co Alternative Brokers

Considering the safety concerns surrounding Gerchik & Co, we strongly recommend exploring alternative options that prioritize robust regulations and improved trading conditions. Below is a list of reputable brokers that offer reliable choices and a secure trading environment for your consideration:

Deposits and Withdrawals

Gerchik & Co provides over 10 convenient methods for deposits and withdrawals, through Credit/Debit Cards, Bank Transfers, Perfect Money, Bitcoin, Ripple, Ethereum, Litecoin, Tither, etc.

  • For some deposit methods the funds are processed to the client's account instantly, for other funding methods, the process might take from 1-2 working days.
  • Withdrawals are generally processed within 24-48 hours.
  • Based on the fact that Gerchik & Co is an offshore broker, our advise is to be very careful in investing with this broker. 

Account Types

Gerchik & Co offers 6 types of trading accounts: Zero, Mini, Simple, Silver, Gold and Platinum. Traders can also open a Demo account. The minimum deposit starts from $100 for Zero accounts ranging up to $100 000 for Platinum account clients. With Gerchik & Co traders can conduct their trades through the market popular MT4 and MT5 platforms. 

  • For Silver, Gold and Platinum accounts the spreads start from 0.0 pips. 
  • The maximum leverage for all the account types is 1:100.

 

Gerchik & Co Review Conclusion

Based on the information we have gathered about Gerchik & Co, it is evident that this broker does offer enticing benefits, such as tight spreads and favorable features. However, it is essential to acknowledge substantial concerns regarding the broker's trustworthiness and credibility. The fact that Gerchik & Co is registered in an offshore jurisdiction (Vanuatu) raises significant red flags. As a result, traders are strongly advised to exercise caution when contemplating this broker as their choice.

Traders should prioritize brokers holding licenses from reputable authorities like  FCAASIC, or CySEC. Numerous regulated brokers offer excellent terms and conditions that align with top-tier regulations, providing a risk-free trading environment. Some noteworthy options include FortradeHFM, and FP Markets.

  • Overall ranking and experience for Gerchik & Co is Negative

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