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. Is Fortrade safe or a scam?
  3. Leverage
  4. Spread
  5. Fees
  6. Deposits and Withdrawals
  7. Trading Platform
  8. Customer Support
  9. Education
  10. 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.

ProsCons
CFDs tradingSupport not available 24/7
Heavily Regulated BrokerConditions may vary in particular entities
Great education through Fortrade Academy
MT4 platform and proprietary software
Fast account opening and free Demo account
No commission deposits and withdrawals

Fortrade Review

10 Points Summary
HeadquartersUK
Regulation and LicenseFCA, 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$
Trading FeesLow FOrex fees, average commodity CFD fees
Base currenciesVarious Account base currencies
EducationFree education with webinars, courses and videos
Customer Support24/5

Is Fortrade safe or a scam?

When it comes to online trading, security is paramount to understanding that your capital is secured and protected by the law regulations.

ProsCons
FCA, ASIC. IIROC, CySEC regulated international brokerNone
Global coverage and license from Belarus National Bank
Negative Balance Protection
Representative offices globally

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 entityRegulation and License
Fortrade LimitedAuthorized by FCA (UK) registration no. 609970
Fort Securities Australia PTY LTDAuthorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number: 493520
Fort Securities LLCAuthorized by the National Bank of the Republic of Belarus (NBRB) registration FRN: 193075810
Fortrade Canada LimitedAuthorized by IIROC (Canada)
Fortrade Cyprus LtdAuthorized 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.

Accounts

Firstly you as a client will sign in for the practice mode account or Dem 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. Fortrade mainstays on a single account feature, yet the options and conditions may vary according to the trading sizes and deposits.

ProsCons
Fast digital account openingNo ECN trading
Single Account offering
Demo Account
Variable spread 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.

Low Forex feesConditions may vary in particular entities
Variable spread
Micro Lot trading available
Scalping and hedging allowed
Average commodities CFDs fee

Our find on CFD fees

For its good range of trading instruments 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.

Trading Fees of Fortrade vs Similar Brokers
Asset/ PairFortrade FeesAvaTrade FeeseToro Fees
EUR USD2 pips1.3 pips3 pips
Crude Oil WTI7 pips3 pips5 pips
Gold454045
Inactivity FeeYesYesYes
Fee rankingLowAverageHigh

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.

ProsCons
No deposit feesMinimum deposit and conditions vary according to the entity
Withdrawals free of charge
Wide range of payment methods supported including PayPal

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?

As for the minimum deposit requirement, Fortrade allows to start trading with as little as 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. Besides, this requirement may vary according to your account base currency and regulation in your resident jurisdiction.

Fortrade payment methods

Withdrawal

The pleasing addition is that Fortrade does not charge additional fees for deposits and withdrawals that are also subject to laws and regulations.

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.

ProsCons
Quality customer support with live chatSupport not available 24/7
Fast response
Multilingual support covering all regions

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.

ProsCons
Fortrade’s Online AcademyNone
Free Unlimited Demo account
Education with Webinars, Video tutorials
Good range of trading tools
Social trading options
Economic Indicators and News Feed

Fortrade academy

Conclusion

The Fortrade review shows an intuitive trading platform that has been designed to make online trading simple, fast and friendly. Whether you’re a completely new or a seasoned trader, you can find the right fit with the broker. The low deposit to start, along with 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.

Fortrade’s passion for innovation and service has enabled them to grow and expand into new markets and offer products with the growing demand for both retail and institutional clients across the globe. And what is important, Fortrade provides a safe, secure, licensed and regulated trading environment as per their reputable regulators FCA, ASIC and others.

In addition, Fortrade established a fair trading environment which does not hide any concerns, there are no commissions, no hidden fees and no conflicts of interest.

Nevertheless, it would be good to know your personal pinion about Fortrade, so you can share your experience in the comment area bew.

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9 responses to “Fortrade”

  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.

  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.

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