Fortrade
5.3

Fortrade

Regulation: Financial Conduct Authority (FCA) UK, Canadian Investment Regulatory Organization (CIRO), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), National Bank of the Republic of Belarus (NBRB), Financial Services Commission, Mauritius (FSC)

Pros
  • No deposit fee
  • Access on any device
  • Provides commission-free trading
  • Provides MT4 and proprietary Platform Fortrade
Cons
  • Fortrade charges on Withdrawing process money
  • Slow withdrawal process
  • Charges Inactive account penalty
  • Reviewed broker: ForTrade

    Established in 2013

    Location: UK

    Traders from the following countries are not accepted: United States, Belgium, Israel

    Regulation: Financial Conduct Authority (FCA) UK, Canadian Investment Regulatory Organization (CIRO), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), National Bank of the Republic of Belarus (NBRB), Financial Services Commission, Mauritius (FSC)

    Traders can access a wide range of markets at Fortrade:

    • Currencies – Trade over 60 forex pairs from around the world, including majors
    • Precious metals – Trade long and short on gold, silver, copper, platinum, and palladium
    • Indices – Access world-leading market indices such as the FTSE 100 and DAX 40
    • Commodities – Trade on energies and agricultural products including crude oil and sugar
    • Cryptocurrencies – Trade Bitcoin and other crypto coins against the US Dollar
    • Bonds – Trade on 5-year, 10-year, or 30-year US Treasury notes and bonds
    • Stocks – Buy and sell equity CFDs in some of the largest global companies
    • ETFs – Trade long or short on Exchange Traded Funds

    Trading Conditions with Fortrade

    Currency pairs: 51

    Security of clients funds: segregated accounts

    Demo account: yes and here is no time limit to your practice account. An initial virtual funds of €10,000 is automatically deposited into your practice account trading account

    Account base currency: EUR, USD

    Account types: standard

    Minimum trade size: 0.01 lot

    Fixed spreads: yes

    Spreads: starting from 3 pips

    Commission fee: no

    Maximum leverage: up to 1:200

    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.

    Risk Management: Take Profit, Stop Loss

    Trading Platforms

    Fortrade trading platforms have widespread use, providing a solution to every investor’s profile regardless of the level of knowledge. We are at your service with award-winning trading platforms equipped with cutting-edge technologies and capabilities to help you manage your investments securely and easily from your mobile device, the web, or your PC/MAC.

    Web Fortrader

    Your online gateway to easier, smarter, more secure trading.

    As an extension of our innovate trading solutions, we are proud to offer the Web Fortrader – an online trading platform accessible from any PC, Mac or mobile device with a web browser and internet connection.

    Web Fortrader leverages all of the company’s technological advancements and trading benefits while maintaining the original look and feel of our industry-leading software. That means you can login to your account, manage your open trades and control your capitalization exposure – all with just a few taps of your finger.

    Fortrader offers you the means to track, analyze, and trade in a wide range of equity derivatives using a single cross-device platform – thus saving you valuable time, money, and hassle.

    With a low memory and latency footprint, Fortrader delivers real-time data, implements fixes and enables rapid setting of new trades with ultra-high speed and precision.

    The trading platform enables you to fine-tune your trading skills with €10,000 of virtual money. Plus, whenever you feel ready, you can easily switch to real money as well as go back to practice some more – all with the simple click of your mouse.

    Its innovative trading interface uses some of the most advanced encryption technologies available – guaranteeing full confidentiality, anonymity and safety of your funds.

    Makes buying and selling currencies, stocks, indices, and commodities a much simpler endeavor.

    “Take Profit”, “Stop Loss” and pending orders are just a few of the advanced features included.

    MetaTrader 4 MT4 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.

    Payment methods within the broker

    Payment options: wire transfer, credit cards, Skrill, Neteller

    First deposit requirement: $500

    The same methods apply for withdrawals, however processing times can take up to 5 business days for bank wire and up to 15 business days for cards. These aren’t the quickest timescales compared to other brokers. Also, any bank withdrawal fees incurred by Fortrade are passed on to the customer, which is usually around $40.

    Customer Service

    Online chat: available

    Email support: yes

    Phone representatives: yes

    Educational Material and Promotions

    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 offers a comprehensive selection of educational resources and tools suitable for all levels. The Academy contains several online seminars, eBooks, training courses, tutorial videos, tips, and more.

    Traders can also access a wide range of resources and market research from the Market Analysis centre, with morning, evening, and weekly news analysis, as well as Trading Central, a package of technical analysis tools.

    Other practical features include a currency converter, calculators, and a useful economic calendar.

    How was the rating of Fortrade performed compared to other brokers? 

    This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Fortrade FX broker performance and features. 

    Overall our online Fortrade review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Fortrade or you find inaccurate details Fortrade broker review please get in touch with us and the changes will be applied.  

    Fortrade, a global forex broker, was founded in the UK in 2013 to provide products and services for CFD trading and foreign exchange trading conducted online. 

    9.0
    Regulation and Security
    5.0
    Platforms and Features
    2.0
    Deposit and Withdrawal
    5.0
    Educational Material
    5.3 Overall Rating
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