- What is Fortrade?
- Fortrade Pros and Cons
- Is Fortrade safe or a scam?
- Account types
- Deposits and Withdrawals
- Trading Platform
- Customer Support
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.
10 Points Summary
|🗺️ Regulation||FCA, ASIC, IIROC, CySeC, NBRB, FSC|
|🖥 Platforms||Fortrader Platfrom, MT4|
|Instruments||200 currency pairs including Cryptocurrencies like Bitcoin, index, stock, precious metals, energies and commodity CFDs|
|🎮 Demo Account||Available|
|💳 Minimum deposit||100$|
|💰 EUR/USD Spread||2 pips|
|💰 Base currencies||Various Account base currencies |
|📚 Education||Free education with webinars, courses and videos|
|☎ Customer Support||24/5|
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 the purpose to protect consumers, and financial markets and promote competition.
In addition, Fortrade enlarges its trading proposal and moves on further by opening 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 clients’ funds in segregated accounts and in the unlikely event protected by schemes.
||Regulation and License
||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
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 the 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 the purpose to protect retail clients. This leverage is used for FCA and CySEC regulated entities
- The Australian authority ASIC (Best Forex Trading Platforms Australia) 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.
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 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.
|Fees||Fortrade Fees||AvaTrade Fees||eToro Fees|
Fortrade also offers only variable spread proposals, 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 proposals 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 BDSwiss.
|Asset/ Pair||Fortrade Spread||AvaTrade Spread||eToro Spread|
|EUR USD Spread||2 pips||1.3 pips||3 pips|
|Crude Oil WTI Spread||4 pips||3 pips||5 pips|
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.
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.
Deposits and Withdrawals
All money manipulations, transactions, and requests are done through your online account area where you can see fee reports, and deposit or withdraw your money according to the regulatory rules.
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 offers a minimum 100$ deposit, anyway, the broker also recommends depositing 500$ and more for achieving better results and trading multiple instruments and covering 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
||Most Other Brokers
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.
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.
|User friendly software||None|
|Available MT4 and proprietary FORTRADER|
|Versions suitable for Web, Mobile and Desktop trading|
|Supporting numerous languages|
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.
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.
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.
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.
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.
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 (Check FCA Regulated Forex Broker Infinox), ASIC and others.