Belize-based forex broker Gerchik&Co. said on Wednesday it will introduce as of 3 October, 2016, a new currency pair for trading – US dollar (USD) to Russian ruble (RUB). The broker provided no details regarding the trading conditions of the new pair.
The absence of the currency pair from the broker’s portfolio comes as a surprise, since its main markets of operation are Russia and the Commonwealth of Independent States (CIS) (former Soviet countries).
The broker’s offering includes a number of currency pairs and contracts for difference (CFDs) on energies, commodities, indices, metals and bonds. Its clients can choose from five trading accounts – Mini, Simple, Silver, Gold and Platinum, with minimum deposit requirements in the $500-$100,000 range. All accounts offer a leverage of up to 100:1 and a minimum order size of 0.1 pips (except for Mini account which has an order size of 0.01 pips).
Gerchik&Co. was set up in January 2015 in Belize by Russia’s Alexander Gerchik. The broker is licensed by the Belize’s International Financial Services Commission (IFSC) and is one of six entities registered in Belarus as forex service providers. It is a member of Belarusian self-regulatory body Association for financial market development (ARFIN).
Although based in Belize, Gerchik&Co. is predominantly focused on Russian-speaking markets. The broker supports the MetaTrader 4 (MT4) platform and just recently announced the addition of RoboX, an automated forex trading software.