Fortrade Review

Fortrade

Fortrade

www.fortrade.com

  • Leverage: 1:30 | 1:400

  • Regulation: FCA, ASIC, IIROC, CySEC, NBRB

  • Min. Deposit: 100 US$

  • HQ: UK

  • Platforms: Fortrader Platfrom, MT4

  • Found in: 2013

Fortrade Licenses

  • Fortrade Limited - authorized by FCA (UK) registration no.609970
  • Fort Securities Australia PTY LTD - authorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number: 493520
  • Fort Securities LLC. - authorized by the National Bank of the Republic of Belarus (NBRB) registration FRN: 193075810
  • Fortrade Canada Limited - authorized by IIROC (Canada)
  • Fortrade Cyprus Ltd - authorized by CySEC (Cyprus) registration no. 385/20

Top 3 Forex Brokers

  1. What is Fortrade?
  2. Fortrade Pros and Cons
  3. Is Fortrade safe or a scam?
  4. Leverage
  5. Account types
  6. Fees
  7. Spreads
  8. Deposits and Withdrawals
  9. Trading Platform
  10. Customer Support
  11. Education
  12. Conclusion

What is Fortrade?

Fortrade is established in the UK in 2013 as a trading provider with products and services for online foreign exchange and CFD trading. Further on, throughout its development, Fortrade opened its branches in Australian and Belarus, while recently enlarged even further and established branches in Cyprus and Canada.

The company aim has always been to make online trading more accessible, enjoyable and profitable, which also confirms its worldwide presence and what is more important heavy regulation. Hence, Fortrade opening tight and competitive spreads that vary according to the trading instrument and start from 4 pips for forex, through various leverage ratios, and a variety of promotions.

Making a good decision is most of the time very confusing process, thus the broker tries to simplify the issue by developing technology that provides an efficient environment at the beginning, yet includes powerful features for experienced traders.

Fortrade Pros and Cons

Fortrade has easy account opening and is regulated broker with respected licenses like FCA and ASIC, the education section is well-developed, platforms and research are on a good level, also costs are on average levels.

For the negative points, there is no 24/7 support, conditions are different in each entity also spreads might be high for some instruments.

Fortrade Review

10 Points Summary
🏢 HeadquartersUK
🗺️ RegulationFCA, ASIC, IIROC, CySeC, NBRB
🖥 PlatformsFortrader Platfrom, MT4
Instruments200 currency pairs including Cryptocurrencies like Bitcoin, index, stock, precious metals, energies and commodity CFDs
🎮 Demo AccountAvailable
💳 Minimum deposit100$
💰 EUR/USD Spread2 pips
💰 Base currenciesVarious Account base currencies
📚 EducationFree education with webinars, courses and videos
☎ Customer Support24/5

Is Fortrade safe or a scam?

Yes, Fortrade is a safe broker due to its regulation, including top-tier FCA considering a low-risk broker for Forex.

Is Fortrade legit?

In the case of Fortrade it is authorized and regulated by multiple authorities in reputable jurisdictions including the Financial Conduct Authority (UK) and ASIC (Australia). These two are actually some of the most serious world organizations that regulate financial services companies with a purpose to protect consumers, financial markets and promote competition.

In addition, Fortrade enlarges its trading proposal and moved on further by the opening of official entities in Belarus, Canada and Cyprus. Where, most importantly Fortrade is fully authorized, regulated and overseen in terms of its reliability and operation.

How are you protected?

According to these licenses, Fortrade operates under full compliance with numerous restrictions and guidelines to provide a secure trading environment for all transactions, while keeping client’s funds in segregated accounts and in the unlikely event protected by schemes.

Fortrade entity Regulation and License
Fortrade Limited Authorized by FCA (UK) registration no. 609970
Fort Securities Australia PTY LTD Authorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number: 493520
Fort Securities LLC Authorized by the National Bank of the Republic of Belarus (NBRB) registration FRN: 193075810
Fortrade Canada Limited Authorized by IIROC (Canada)
Fortrade Cyprus Ltd Authorized by CySEC (Cyprus) registration no. 385/20

Fortrade license

Leverage

Leverage or a loan given by the broker to the trader enables you to trade with a larger size than the initial invested capital. Indeed, leverage significantly increases the potential to higher gains, yet in reverse, it does increase risk level too. Therefore, leverage may be risky at the point you set it wrongly or too high.

Fortrade offered leverage ratios also complies with the regulatory requirement in each jurisdiction it operates, so make sure to verify leverage conditions according to the Fortrade entity and your residence.

  • Recent regulatory updates in Europe along with ESMA regime set a maximum leverage level with a maximum of x30 for major currency pairs, x10 for commodities, x5 for CFD stocks and x2 for Cryptocurrencies with a purpose to protect retail clients. This leverage is used for FCA and CySEC regulated entities
  • The Australian authority ASIC still allows leverage ratio up to 1:400 for Forex instruments, which will allow the Australian client to use high leverage while trading.
  • Belarus regulation set leverage to 1:100 for Forex
  • Canada traders can use a maximum of 1:50 for Forex instruments and lower levels of 1:40, 1:30, 1:20 and 1:10 according to the instrument specifications.

Account types

Fortrade mainstays on a single account feature, yet the options and conditions may vary according to the trading sizes and deposits. Firstly a client will sign in for the practice mode account or Demo account that delivers real trading with an option to discover all features of the platform with the notional sum of 10,000$. At the time you are ready to switch to real trading mode, you can easily click to the real account while there is no options between the different accounts.

How to open Account at Fortrade

Fortrade account opening

Fees

Fortrade offers a rapid execution with no middle person in the process, thus all orders execute in real-time with no commissions or fees while all costs built into a spread. For full pricing, however, see funding fees, inactivity fees and non trading fees.

FeesFortrade FeesAvaTrade FeeseToro Fees
Deposit FeeNoNoNo
Withdrawal FeeNoNoYes
Inactivity FeeYesYesYes
Fee rankingLowAverageHigh

Spreads

Fortrade also offering only variable spread proposal, so that there is no confusion on the fees. Generally, fees are quite pleasant, while maybe only for Commodities fees might be lower with other competitors. Yet, always see and consider all the trading proposal in total, as not only good fees defining a good broker.

Comparison on most traded instruments you may see below, as well for information compare fees to another broker ATC Brokers.

Asset/ PairFortrade SpreadAvaTrade SpreadeToro Spread
EUR USD Spread2 pips1.3 pips3 pips
Crude Oil WTI Spread4 pips3 pips5 pips
Gold Spread454045

Fortrade spread

Other fees

Also, always consider a rollover or overnight fee, which is charged in case you hold opened position longer than a day. While traders following Sharia laws may apply for Islamic or Swap-free Account with Fortrade.

Fortrade rollover

Instruments

The wide range of trading assets accesses more than 200 currency pairs including Cryptocurrencies like Bitcoin, with majors and minors, along with exotic pairs, index, stock, precious metals, energies and commodity CFDs. Also including Agriculture CFDs with zero commissions and flexible leverage.

Fortrade products

Deposits and Withdrawals

All money manipulations, transactions and requests are done through you online account area where you can see fee reports, deposit or withdraw you money according to the regulatory rules.

Deposit Options

Fortrade supports several ways to deposit or withdraw funds to or from the trading accounts and accepts a range of options including all major credit/debit cards, bank transfers, Neteller, Skrill and PayPal.

What is the minimum deposit for Fortrade account?

Fortrade minimum deposit is 100$, however, for best results broker recommends depositing at least 500$ in order to be able to trade multiple instruments and cover all necessary fees. Also, this requirement may vary according to your account base currency and regulation in your resident jurisdiction.

Fortrade minimum deposit vs other brokers

Fortrade Most Other Brokers
Minimum Deposit $100 $500

Withdrawal

Fortrade does not charge additional fees for deposits and withdrawals that are also subject to laws and regulations in a particular region. Withdrawal options are widely available including Bank transfers, Cards and some e-wallets like Neteller.

Fortrade payment methods

Trading Platforms

In the world of online trading, efficient market access is everything, which brings an ability to trade 24-hours a day at any place along with advanced tools that enhances trading and analyzing capabilities. To meet this demand, the Fortrade team of developers designed a line of fully-scalable trading platforms that enables to monitor global financial markets and derivatives, capitalize on price movements at the time and place most convenient.

ProsCons
User friendly softwareNone
Available MT4 and proprietary FORTRADER
Versions suitable for Web, Mobile and Desktop trading
Fee Report
Supporting numerous languages

Web Platform

The proprietary platforms available in three versions Fortrader Web, Fortrader Desktop and Fortrader Mobile that gives an ability to access trading throughout any convenient way, either on the go, by a browser or by installed version. While all process is performed via the powerful execution model through interbank quotes.

Desktop platform

Nevertheless, the company still offers as an option popular MetaTrader4, which is accessible through various versions for desktop, web and mobile accordingly. The platform features leading indicators, oscillators, EA strategies and automated desktop station that all in all bringing numerous options for smart investment and trading process.

Fortrade platform

Mobile Platform

Mobile app suitable for Android or iOS devices offered in the package as well. So you are able to stay updated about market conditions, manage your account and positions right from your mobile device.

Customer Support

Fortrade international proposal also covering the support of their customers, hence providing around-the-clock customer service during working days available in multiple languages through its worldwide entities. Customer service available via emails, live chat, contact form or international phone lines and ready to answer through its service centers.

Education

In order to be successful in trading, you should also invest in education, to explore existing resources and create customized trading methods. Fortrade fully supports that strives while bringing comprehensive educational tools and generated the best possible data along with trading features.

The are numerous webinars, market research data, and analysis together with Trading Central option is at the client’s toolbar and disposal well-organized through Fortrade Academy. Research tools are also at a good level and either inbuilt into the platforms or available at the client resources.

Fortrade academy

Conclusion

The Fortrade review shows an intuitive trading platform that has been designed to make online trading simple, fast and friendly. The good points are low deposit to start, well developed educational programs and up to date market information is a helpful tool for the new to trading, while professionals will find numerous solutions to their trading needs. And what is important, Fortrade provides a safe, secure, licensed and regulated trading environment as per their reputable regulators FCA, ASIC and others.

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36 responses to “Fortrade”

    • Love their platform, found them very reliable.
      They even refunded me once for a losing trade because of some stupid reason i dont even remember… was just glad to see the money in my account

  1. Well, I have to say I had a very disappointing result when I invested £250 GBP with Fortrade. I was assigned to a Manager names Tamara Sutic.
    Once my money was invested, I heard nothing, 5 emails, she even sent me one and asked to reply using ‘reply’ She told me that she never received my reply. Tamara Sutic wanted my proof of deposit, which, fortunately I made through Pay Pal. My deposit from Pay Pal,
    I even printed a hard copy and sent it to her personally – still no response! Pay Pal also sent a copy of my payment.came with a receipt. Still no response. I fear this company or at least the Manager I was assigned to behaved very badly, not responding.
    I eventually raised a dispute through Pay Pal, and my money was back in my account in a matter of days.
    I just leave you with the thought, that you might want not to trade with Fortrade, use your investment wisely, through a reputable Site.
    Angela Leonard

  2. I have invested a 100 dollar on this so called fortrade and I have provided all documents which my manager required an still nothing has been done from the past 2 month he said he has send the money back to my account but nothing. This is a scam..

  3. Hi! I am from Serbia and all the managers mentioned above are Serbian people without any license. The company may have the license and is perhaps regulated but the “managers” and “consultants” are just regular people without licences, quite often students or of that age, doing what they were told to do so that the company can earn as much money as possible.
    I worked in a similar company until I realized what the business was about. Once you deposit the money, no-one really cares about you and depending on what type of trading you do, you may be given the wrong info in order to lose the money (which the company keeps in case of trading with binary options) or you simply may not be able to withdraw the money you deposited regardless of the win/lose situation.
    At the very least, you may be given a hell of problems while trying to withdraw the money so that most people just give up even if some manage to get the money back after a lot of time and a shit ton of attempts of sending documents/email/making calls etc and.
    Basically, what the companies of this sort do, they behave as though the money you deposited onto the account you created for trading is their own – and they actually use it to pay their associates and employees etc. That is why they do not answer the emails nor allow withdraws or make them next to impossible to perform.

    • I was also scammed, I invested 100 euro and they locked me out of the account that I deposited in.

  4. I can confirm the information above. The same happened to me as described by Angela Leonard. Now when reading other comments I could verify for myself the in particular the Account Manager, Nastasia Bozic, must be someone from Croatia and not from UK as the phone call usually appears to be from.

  5. This site is unregulated and was only registered on 19 05 2020.

    A chinse wealthy lady befriended me on tinder and told me about he analyst, she said that she has got millions with this website and she has been using it for over a year, the website was resisted on 19 05 2020. the anilist then did 3 trades with me using a demo account. the trades were live and real. then he tried to get me to invest $30,000 into this site.

    I have been designing websites since 1994 and teaching since 1998, i also have a lot of friends in the forex market. the website is unregulated so there is no government the controls it, this means that the site could close tomorrow and you will lose all your money. you should only trade with regulated brokers. so they need to have the following statment

    Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.

    do not ever trade with any company that is unregulated.

  6. I used to work at Fortrade, very bad people, the director Zeevi is a an asshole who wants his workers to die from COVID-19 and make him money.

  7. I have the same issue I have $300 which I can’t withdraw because they keep giving me excuses to why they can’t give me my money. FORTRADE is a SCAM. STAY AWAY

  8. fortrade is full of fraud. pls its my humble request not to deal with this company. i feel cheated first they give commitment for no swap charges for 3 months and later they will charge in another way like commission and make money. now i am emailing and calling no one respond . if you email also they will reply after 1 months. today i got reply that i dont have account with them. bull sheet people i am using this platform alomost 3 months and given all the detials. so you can udnerstand how they work.

    pls dont register with them . there are other site also who is more reliable and trustworthy.

  9. I definitely would not recommend. They hounded me for weeks then I finally deposited $250. Then surprise steps kept showing up just to get to where u could use the funds. Why where these steps not taken before asking for money. So I got fed up and asked for my money back. Been almost a month now and they still can not even figure out how to send me my money back.

    • I would be very interested to know what happened to you to bring about such anger. If there is something with which our support team can assist, please contact them at support@fortrade.com, or call +44 203 966 4505

  10. I would not follow their recommendations or give into the sales pitches. They don’t have your interest at heart.

  11. THEY’RE NOT RELIABLE COMPANY. I’m in Canada and they called me from Europe with Canadian numbers. They’re just a registered company in Canada. For starting they called me almost every day until I put my money in. They ensured me that their system doesn’t allow customers to lose their money and we help our customers to avoid losing their money. But during the negative market, nobody called me and give me any advice on what to do. I lost all my money and nobody is responsible.
    They have limited stock companies and withdrawing process money is complicated too.
    I don’t recommend this company and stay away!

    • Hi Hmaed, Ive seen your review, Canada is a nation that protects its citizens, I would encourage you to take swift action – the authorities like IIROC have fined various brokers like etoro and IC Markets in the past, you will find that Fortrade is no different, the regulators need to know the shortfalls – best wishes

  12. This is a negative review and discourages people from using this scam-type broker. Completely failure of an operation, its sole purpose is to deceive and take money from people who are new and fall in to a trap. Regulatory wise they have many licenses but they do not honour the rules, anyone who has used them and lost money due to their poor practises eg they call you hours on end and mis-sell or mislead their products, this is a breach across all regulatory channels especially in the UK under the FCA’s COBs 4.2, also under COBs 10 they are supposed to genuinely assess whether ‘we’ clients know the risks of these products, again another failure… speak out and really make this scam operation realise the public is not tolerating this

    • Sorry to hear that you are having some issues with the app. Please contact our support team at support@fortrade.com, or call +44 203 966 4505 and they will be happy to help figure out what the problem is

  13. Hello
    I am just writing this to see if someone can help me. I recently invested over $40, 000 with another broker (x24forex.com) and my account increased to $196,000U.S but know I am beginning to realize that this is a fraud. They are asking me to pay into a $15,000 -credit; I told them I don’t need a credit but they said if I don’t put it in they will not release any of my funds. I have 5 kids and have foolishly been duped. Can someone please offer me any advice? I am at a point where I have lost faith in humanity and the people that did this should be brought to justice
    Thanks for letting me share
    FRANK T

    • I would pay the 15,000 it’s like paying a fee I guess u still gon get to walk away with good money in hand… please can you contact me personally if anything positive came out of it I’m looking for a broker I can trust. My number is +2975678606.

  14. Hello, is Fort Trade legit. Who can recommend it to me in 2021 please. I am at the risk of joining, please help ASAP.

  15. Sorry to hear that you are having some issues with the app. Please contact our support team at support@fortrade.com, or call +44 203 966 4505 and they will be happy to help figure out what the problem is

  16. They have to approve your comments to so you only see the good ones let’s see if this one is aloud since my one about being a scam isn’t going to be

  17. Fortrades is a scam they took out 2900 out of my account when I only had 2750 and they closed my account but I have a meta account and was able to see it so I have screen shots to prove it if anyone wishes to see it. Don’t invest with them you will loss your money and not just to the market

    • Hi, How did they take out 2900 out of your account when you had only 2750? I just started trading on their website, and I’m worried.

  18. Horrible experience, before I deposit money they just keep caling and promising they will support and send me singals to trade and…, they never did that plus now once i try to withdraw my money which is about 7k it doesn’t let me and i am so disappointed and nervous because that money was all i had for my tuition to finish my school and I don’t know what the hell i have to do right now, they are FUCKING SCAM DO NOT TRUST THEM😭.

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